PANews reported on May 15 that Kitanihon Spinning, a Tokyo Stock Exchange-listed company, announced on May 14 that its board of directors has decided to carry out crypto-assets and RWA (physical assets)-related businesses, and plans to review new business matters at the shareholders' meeting on June 30, 2025. The company plans to carry out businesses such as holding and disclosure of crypto-assets such as Bitcoin, construction and operation of renewable energy mining equipment, and is currently negotiating cooperation with domestic and foreign mining companies. At the same time, it is considering issuing its own tokens to pay for the company's products, services and plastic recycling business. In the field of plastic recycling, it is planned to use RWA technology to achieve visual management of some links in the supply chain. In addition, a Web3 wallet will be developed for token storage and cross-border payments.
Kitanihon Spinning said that the approval of Bitcoin spot ETFs and Japan's revision of the fund settlement law and other regulatory progress are the main reasons for entering this field. The new business will be managed by the Crypto Asset Management Department established in July.
