According to Woofun AI, Japanese listed company Bitcoin Japan has completed its latest round of digital asset purchases, bringing its total Bitcoin holdings to 17.8035 coins, marking a substantial step forward in this century-old enterprise's transformation toward the Web3 sector.
This purchase was executed by its Cayman Islands-based subsidiary BTC JPN Ltd. and was completed on October 7, acquiring 5.8847 coins at an average price of $84,706.34 per coin. Notably, this was only the company's second purchase within nine days; as early as September 28, it had acquired 11.9188 coins at $83,857.43 per coin. According to data compiled by Woofun AI, the two transactions involved a cumulative investment of approximately $1.5 million, locking in a weighted average cost of $84,138 per coin for the company's entire Bitcoin reserve.
For this company, which trades under stock code 8105, roughly one-third of the 662 million yen digital asset reserve budget approved by the board has now been spent. Regulatory filings explicitly state that the scale of subsequent purchases will depend strictly on cash reserve conditions and market conditions. Additionally, management has announced that it will mark its Bitcoin holdings to market at the end of each fiscal quarter, meaning quarterly financial reports will directly reflect spot market volatility, with financial transparency and risk exposure rising in tandem.
From an industry benchmarking perspective, Bitcoin Japan's digital asset reserve scale still lags far behind industry leaders. Metaplanet Inc. held 44,000 Bitcoin on its balance sheet as of the end of September 2026, with a market value of 387 billion yen, while Bitcoin Japan's market value is only 4.6 billion yen—a stark gap between the two.
Founded in 1861, this company was originally named Marusho Hotta Co., Ltd. and spent a long time deeply engaged in textile wholesale and traditional kimono manufacturing. Its strategic pivot began in August 2025, when U.S.-headquartered Bakkt Holdings (BKKT.US) acquired approximately 30% of RIZAP Group's shares, which drove the company's name change, and on November 25, 2025, it was officially renamed Bitcoin Japan Corporation.
In July 2026, the company reached a financing agreement with EVO Fund involving zero-interest convertible bonds and stock warrants totaling as much as 9.66 billion yen. Of the funds that could be raised under this plan, only 7%, or 662 million yen, was allocated to directly purchasing Bitcoin, while the remaining funds were distributed to robotics-as-a-service projects, mining operations in South Africa, and private equity investments. The design of these debt instruments also includes a mechanism to adjust the conversion price. According to documents filed in July 2026, if the convertible bonds are converted at the minimum price stipulated in the contract, the number of newly issued shares could reach 110% of the existing share capital, which would significantly dilute existing shareholders' equity.
The difficulties in the traditional business are the deeper motivation driving this aggressive transformation. In the fiscal quarter ended March 2026, the company's revenue was 2.96 billion yen, but its net loss reached as high as 538 million yen. Due to sustained commercial pressure, the company announced at the end of September 2026 the closure of 15 underperforming department store outlets, resulting in an additional loss of 210 million yen.
With the establishment of a 17.80 Bitcoin position and the impact of debt conversions carried out before October, the upcoming quarterly financial report will become a key checkpoint for testing the effectiveness of its transformation, and the market will closely watch how these new assets hedge against the decline risk of the traditional business.