Planning and Preparation for New Cryptocurrency Exchange and Related Businesses
First written in FY2018-Q2. 4 of 11 entries say "Advanced", first in FY2018. Latest entry: FY2021-Q1.
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Dropped".
- FY2021-Q1DroppedAnnual report
「In light of tighter regulation in Hong Kong, intensifying competition from other companies in the industry, and the Group's new management policy of making every effort to launch businesses combining 5G and AI technologies during the current consolidated fiscal year, we comprehensively considered these factors and determined that it was necessary to withdraw from the unprofitable business and concentrate management resources in preparation for launching new businesses. Accordingly, we decided to discontinue the fintech business by the end of December 2020.」
The previous policy of operating and expanding the fintech business centered on cryptocurrency exchanges has been withdrawn, and discontinuation by the end of December 2020 has been decided. - FY2020RestatedAnnual report
「In this business, we operate cryptocurrency-related businesses centered on cryptocurrency exchange operations.」
The company has reconfirmed its position of continuing the fintech business centered on cryptocurrency exchange operations following its withdrawal from mining. - FY2020-Q3RestatedAnnual report
「In the fintech business, at overseas cryptocurrency exchanges, we will select the currencies traded on group exchanges, add new services, strengthen marketing activities, and provide cryptocurrency-related consulting services to increase new account openings and trading volume. We aim to provide competitive services as a cryptocurrency exchange.」
Ongoing measures include selecting supported currencies to expand new accounts and trading volume at overseas exchanges, adding new services, strengthening marketing, and developing the consulting business. - FY2020-Q2RestatedAnnual report
「We operate cryptocurrency-related businesses centered on cryptocurrency exchange operations.」
It has been confirmed that the fintech business centered on cryptocurrency exchange operations is continuing, with expansion of users and trading volume at overseas exchanges and the provision of related services reiterated as countermeasures. - FY2019ReframedAnnual report
「We withdrew from the mining business. Regarding the cryptocurrency exchange operation business, we began accepting applications to open exchange accounts in Hong Kong and Singapore. However, as with mining, the number of accounts opened and trading volume fell short of expectations due to the decline in cryptocurrency trading volume and sluggish market prices, among other factors, and we also abandoned plans to open a cryptocurrency exchange in Japan.」
The fintech business withdrew from mining and cancelled plans to open a domestic exchange, while shifting its focus to exchange operations and related consulting in Hong Kong and Singapore. - FY2019-Q3AdvancedAnnual report
「Regarding the cryptocurrency exchange operation business, we opened an exchange in Hong Kong in June 2018 and began accepting applications to open exchange accounts in Singapore in December of the same year. Regarding the mining business, operations began in March 2018.」
Specific business expansion has been reported, with an exchange opened in Hong Kong, applications to open accounts launched in Singapore, and the mining business operating since March 2018. - FY2019-Q2AdvancedAnnual report
「Regarding the cryptocurrency exchange business, we opened an exchange in Hong Kong on 1 June 2018. Regarding the mining business, operations began on 1 March 2018. We expensed the entire ¥22 million incurred for the construction of the cryptocurrency exchange system in Hong Kong as research and development expenses in the cumulative second-quarter consolidated accounting period, compared with ¥51 million on an individual accounting basis. As a result, revenue was ¥10 million, accounting for 2.3% of total revenue. The segment loss (operating loss) was ¥136 million.」
For the cumulative second-quarter results after the Hong Kong exchange opened and mining operations began, system construction costs were ¥22 million, revenue was ¥10 million, the revenue mix was 2.3%, and the segment loss was ¥136 million, providing concrete results for the operation of the fintech business. - FY2019-Q1AdvancedAnnual report
「Regarding the cryptocurrency exchange business, we opened an exchange in Hong Kong on 1 June 2018. Regarding the mining business, operations began on 1 March 2018. We expensed the entire ¥13 million incurred for the construction of the cryptocurrency exchange system in Hong Kong as research and development expenses in the first-quarter consolidated accounting period, compared with ¥41 million on an individual accounting basis. As a result, revenue was ¥2 million, accounting for 1.1% of total revenue. The segment loss (operating loss) was ¥53 million.」
The opening of the Hong Kong exchange and the start of mining operations were achieved, with initial fintech business results of revenue of ¥2 million, a 1.1% revenue mix, and a segment loss of ¥53 million. - FY2018AdvancedAnnual report
「Through our consolidated subsidiaries 株式会社ビットワン, formerly ジャパンアシュアランス株式会社, and BIT ONE HONG KONG LIMITED, we are preparing to operate cryptocurrency exchanges in Japan and Hong Kong. In addition, the cryptocurrency mining business of consolidated subsidiary 株式会社マイニングワン began operations on 1 March 2018. From the next fiscal year onward, we intend to develop our business with the fintech business, comprising cryptocurrency exchange operations, cryptocurrency mining, and related businesses, as the core of our Group's operations.」
In addition to preparations to establish exchanges in Japan and Hong Kong, the mining business began operations on 1 March 2018, making concrete the policy of placing the fintech business at the core of operations. - FY2018-Q3RaisedAnnual report
「Under these circumstances, the group aims to further strengthen its business base through the global expansion of new businesses, namely the operation of cryptocurrency exchanges and cryptocurrency mining.」
The scope has expanded from the previous plans and preparations for cryptocurrency exchange operations to explicitly include exchange operations and a mining business, with wording indicating the global expansion of both businesses. - FY2018-Q2First statedAnnual report
「Through our new consolidated subsidiary 株式会社ビットワン, formerly ジャパンアシュアランス株式会社, we are planning and preparing new businesses including a cryptocurrency exchange business.」
It was first explicitly stated that a new business to enter cryptocurrency exchange operations and related fields is being planned and prepared through 株式会社ビットワン.