Japan's Corporate Bitcoin Rush: A New Crypto Strategy?
Japanese Firms Embrace Bitcoin as Treasury Asset
A growing number of Japanese corporations are integrating Bitcoin into their treasury strategies, signaling a resurgence of Japan's influence in the global crypto economy. This shift is driven by concerns over inflation, currency devaluation, and the need for diversified financial reserves.
Key Players Accumulating Bitcoin
- Metaplanet Inc.: This Tokyo-based company has aggressively converted its balance sheet into Bitcoin, holding 17,595 BTC as of August 4, 2025. Their ambitious "555 Million Plan" targets 100,000 BTC by 2026 and 210,000 BTC by 2027.
- Convano: The beauty salon operator aims to accumulate 21,000 BTC by March 2027. They've established a dedicated Bitcoin Strategy Office and invested $2.7 million in BTC.
- Gyet Co., Ltd. (formerly Mac-House): Rebranding to reflect its crypto focus, Gyet Co. plans to invest $160 million in Bitcoin acquisition and mining operations.
- Kitabo: This textile manufacturer has initiated Bitcoin purchases, allocating $5.4 million for daily buys of approximately $13.5 thousand.
- Toho Remac: The Tokyo Stock Exchange-listed company has approved a plan to acquire up to ¥1 billion ($6.8 million) in Bitcoin and Ethereum, starting with initial purchases of 1.4475 BTC and 45.6581 ETH.
"Market expectations have pushed valuations to three or four times the BTC value," said Ken Kawai. He advises the Japan Cryptoasset Business Association. "This could signal a bubble and should be watched carefully."
Regulatory Changes and Bitcoin ETFs
Japan's Financial Services Agency (FSA) is exploring a regulatory shift to classify crypto assets as "financial products," potentially paving the way for the country's first public crypto ETFs. SBI Holdings has already proposed ETF products that combine gold and digital assets, including spot Bitcoin and XRP.
Tax Implications and Institutional Investment
The current tax treatment of crypto gains as miscellaneous income (up to 55%) has hindered institutional adoption. The proposed change would subject ETFs to a 20% capital gains tax, similar to stocks, potentially unlocking significant investment from pension funds and asset managers.
Finance Minister Katsunobu Kato supports recognizing crypto assets as investment products. SBI is expanding its Web3 strategy through stablecoins like USDC, Ripple’s RLUSD, and yen-based stablecoins.
Sustainable Bitcoin Mining Initiatives
Japanese companies are also venturing into Bitcoin mining with a focus on sustainability.
- Convano plans to launch mining operations in October 2025, utilizing renewable energy at data centers in Texas and Georgia.
- Gyet Co., Ltd. plans to invest over ¥10 billion in mining equipment.
Japan's Crypto Comeback
Japan is aiming to regain its position as a leading crypto hub. The country's proactive regulatory approach and growing institutional interest are key drivers. If Japan approves yen-denominated Bitcoin ETFs, it could boost global liquidity and lower entry barriers for investors.
The FSA is carefully balancing innovation with investor protection, emphasizing transparency and safeguards against volatility. If these trends continue, Japan is poised to reclaim its status as a crypto powerhouse, backed by institutional strength and regulatory credibility. For companies looking to secure their crypto investments, Codeum offers comprehensive blockchain security audits and smart contract development services.