Japanese Listed Company Kita Nippon Spinning Plans to Engage in Bitcoin Mining and Issue Its Own Tokens
Tokyo Stock Exchange-listed company Kitanihon Spinning announced on May 14 that its board of directors has decided to engage in cryptocurrency and RWA (Real World Asset) related businesses, with plans to review the new business items at the shareholders' meeting on June 30, 2025. The company plans to engage in holding and disclosing cryptocurrencies such as Bitcoin, constructing and operating renewable energy mining equipment, and is currently negotiating cooperation with domestic and foreign mining companies. It is also considering issuing its own tokens for payment of company product services and plastic recycling business transactions. In the field of plastic recycling, it intends to achieve visual management of certain supply chain segments through RWA technology. Additionally, it will develop a Web3 wallet for token storage and cross-border payments. Kitanihon Spinning stated that regulatory developments such as the approval of Bitcoin spot ETFs and Japan's revision of the Payment Services Act are the main reasons for entering this field. The new business will be managed by the Cryptocurrency Asset Management Department established in July.
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