PANews reported on May 15th that according to CoinDesk, Kitanihon Spinning, a listed company on the Tokyo Stock Exchange, announced on May 14th that its board of directors has decided to develop crypto asset and RWA (real-world asset) related businesses, with plans to review new business items at the shareholders' meeting on June 30, 2025. The company plans to engage in businesses such as holding and disclosing crypto assets like Bitcoin, building and operating renewable energy mining equipment, and is currently negotiating cooperation with domestic and foreign mining companies. They are also considering issuing their own token for paying for company product services and plastic recycling business expenses. In the plastic recycling field, they aim to achieve visualization of some supply chain segments through RWA technology. Additionally, they will develop a Web3 wallet for token storage and cross-border payments.
Kitanihon Spinning stated that the regulatory progress, such as the approval of Bitcoin spot ETFs and Japan's amendment of the fund settlement law, are the main reasons for entering this field. The new business will be managed by the crypto asset management department established in July.
