PANews reported on May 15 that Kitanihon Spinning, a company listed on the Tokyo Stock Exchange, announced on May 14 that its board of directors has decided to engage in cryptocurrency assets and RWA (real-world assets) related businesses. The plan will be presented for review at the shareholders' meeting on June 30, 2025. The company plans to engage in the holding and disclosure of cryptocurrency assets such as Bitcoin, as well as the construction and operation of renewable energy mining equipment, and is currently in discussions with domestic and international mining companies for cooperation. It is also considering issuing its own tokens for payments related to the company's products, services, and plastic recycling business. In the plastic recycling field, 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 indicates that the approval of Bitcoin spot ETFs and regulatory progress such as Japan's revision of the fund settlement law are the main reasons for entering this field. The new business will be managed by the cryptocurrency asset management department established in July.
