In accordance with reviews, a long-running Japanese kimono and textiles maker will formally rename itself “Bitcoin Japan” at a shareholders assembly set for November 11 because it begins to carry Bitcoin on its steadiness sheet.
The corporate additionally plans to undertake “Bitcoin Japan Company” as its English title and mentioned it’s going to give attention to crypto treasury operations. A few of these strikes had been introduced in an organization launch this week.
Firm Rebrands To Sign New Focus
Bakkt’s June settlement to purchase a controlling stake within the enterprise helped set off the shift. Reviews have disclosed that Phillip Lord, president of Bakkt Worldwide, will take the CEO job on the newly named agency, and Akshay Naheta, co-chief government officer of Bakkt Holdings, will grow to be chairman of the board.
The corporate acknowledged the brand new management will higher align administrators and shareholders and mentioned it goals at medium- to long-term enchancment in company worth.
Bakkt Holdings has finalized the acquisition of the area https://t.co/AVELNw1uzx, strengthening our presence in Japan with a premier net deal with.
👉 Learn the complete press launch : https://t.co/XxHU3hm1Rf pic.twitter.com/Jon5t2iYnw
— Bakkt (@Bakkt) September 22, 2025
The Change Comes After Struggling Outcomes
Marusho Hotta isn’t any startup. Based in 1861, it opened certainly one of Japan’s first kimono wholesale shops in 1894 and listed on the Tokyo Alternate in 1974.
But the corporate has struggled lately. Primarily based on reviews, Marusho Hotta logged a internet revenue of minus 407 million yen ($2,724,400) for its most up-to-date fiscal interval.
Different textile gamers have additionally reported losses: Kitabo recorded a internet lack of $785,000 for FY2024, even because it plans to purchase about $5.4 million value of Bitcoin because it strikes into crypto and real-world asset ventures.
BTCUSD buying and selling at $113,998 on the 24-hour chart: TradingView
Textile Corporations Shift Into Bitcoin
Quite a few Japanese corporations within the trend and textile sectors have introduced plans to purchase Bitcoin or supply crypto-related companies.
Reviews observe that Metaplanet has amassed sufficient Bitcoin to rank among the many world high 5 company Bitcoin treasuries.
Loyalty agency Remixpoint, sport maker Gumi, and retailer ANAP are different latest examples which have mentioned they may add Bitcoin to their company methods.
A Firm Reinventing Its Id
That is greater than a reputation swap. For a corporation based in 1861 to grow to be Bitcoin Japan alerts a placing company pivot.
Whether or not the plan restores profitability or just modifications the corporate’s public picture stays to be seen. The market will watch how shareholders react on November 11 and whether or not different conventional companies observe with bigger Bitcoin treasuries.
Featured picture from KKDay, chart from TradingView
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