TL;DR:
- Recent Acquisition: Bitcoin Japan added 5.8847 BTC on October 7, 2026, at an average price of $84,706.34 per coin.
- Holdings and Total Cost: The overall corporate position reached 17.8035 BTC with an aggregate outlay of $1.50 million and a volume-weighted average price of $84,138 per coin.
- Financing Structure: The allocated digital asset budget stands at 662 million yen, financed through zero-coupon convertible bonds and stock acquisition rights issued to the EVO Fund.
Tokyo Stock Exchange-listed firm Bitcoin Japan finalized a new purchase of 5.8847 Bitcoin on October 7, raising its total corporate reserves to 17.8035 BTC.
The transaction was executed via BTC JPN Ltd., the company’s Cayman Islands-based subsidiary, according to a regulatory disclosure filed on the Japanese exchange’s official TDnet platform.
The company paid an average of $84,706.34 per unit for this latest tranche. The transaction marks the group’s second purchase within a nine-day span, following an acquisition of 11.9188 BTC on September 28 at $83,857.43 per coin. Across both transactions, total capital deployment stands at approximately $1.50 million.
The volume-weighted average price across the entire reserve stands at $84,138 per Bitcoin, according to market data. The company, which trades under ticker code 8105 on the Tokyo Standard Market, has deployed roughly one-third of the 662 million yen authorized by its board for digital asset reserves.
Regulatory filings note that future tranches will depend on available cash reserves and prevailing market conditions. Management also confirmed that corporate Bitcoin holdings will be marked to market at the end of each fiscal quarter, a methodology that could reflect underlying spot market volatility directly on quarterly income statements.
Nationwide, the scale of its digital reserves remains far below that of leading regional corporate peers. Metaplanet Inc., Japan’s standard-bearer in corporate asset adoption, held 44,000 BTC on its balance sheet as of the end of September 2026. Metaplanet’s market capitalization hovers around 387 billion yen, compared to the 4.6 billion yen reported by Bitcoin Japan.
Corporate Transformation and Share Dilution Risks
Founded in 1861, the company operated historically under the name Marusho Hotta Co., Ltd., focusing on wholesale textile distribution and traditional kimono manufacturing. Its strategic pivot began in August 2025, when U.S.-based Bakkt Holdings acquired an approximate 30% stake from RIZAP Group. The formal corporate rebranding to Bitcoin Japan Corporation took effect on November 25, 2025.
The capital raise agreed in July 2026 with EVO Fund involves zero-coupon convertible bonds and stock warrants totaling up to 9.66 billion yen. Of the full amount achievable under the program, only 7%—equivalent to 662 million yen—is earmarked for direct Bitcoin allocations. The remaining capital is allocated to Robotics-as-a-Service (RaaS) ventures, mining operations in South Africa, and private equity investments.
The structuring of these debt instruments includes downward revision mechanisms for conversion prices. Under the terms filed in July 2026, if the convertibles convert at their contractual floor price, newly issued shares could represent up to 110% of pre-existing share capital.
On the legacy operational front, the company closed the fiscal year ending March 2026 with revenues of 2.96 billion yen and a net loss of 538 million yen. Facing continued commercial pressure, management announced in late September 2026 the closure of 15 underperforming department store counters, incurring an extraordinary loss of 210 million yen.
The company’s next operational benchmark will be its upcoming quarterly earnings report, which will mark the first time it accounts for the fair-value mark-to-market impact of its 17.80 BTC alongside debt conversions carried out through October.
