Worth reading
41Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet SalesNot disclosed → ¥20 million
Operating profitNot disclosed → ¥11 million
Only the target level is shown because the current level for comparison was not provided.Key initiatives
01Strengthening governance and internal controls
02Ensuring the independence of Audit and Supervisory Committee members
03Reestablishing internal rules and regulations
04Securing accounting personnel
05Improving the efficiency of internal operations through the use of AI
06Prior review by specialists of significant matters
07Strict implementation of the internal approval process
08Prior sharing with the Board of Directors
09Lifting the going-concern note during the fiscal year ending October 2027
10Recovery of diverted assets and pursuit of liability
Plan assumptionsThe security token market is expanding, with cumulative domestic issuance totaling ¥333.3 billion as of the end of March 2026, Annual staking yield of approximately 3%, A target average yield of 4% for Ethereum operations, Unrealized gains from increases in the value of held Ethereum are not included in the numerical plan, Recoveries from litigation relating to the recovery of diverted assets and the pursuit of liability are not incorporated into the numerical plan
Segment targetSegment name HODL Business / Sales Target ¥1.2bn / Operating profit target ¥900 million, Segment name BUIDL Business / Sales Target ¥800 million / Operating profit target ¥200 million
Non-financial targetsIndicator Crypto-Asset Treasury Business / Target value Establishment / Timing Not disclosed, Indicator Ethereum-Related Business / Target value Monetization / Timing Not disclosed, Indicator Continued-listing criteria / Target value Stable compliance / Timing Not disclosed, Indicator Governance Structure / Target value Enhancement / Timing Not disclosed, Indicator Internal Controls and Recurrence Prevention Framework / Target value Strengthening and establishment / Timing Not disclosed
Size of the Target MarketScale Cumulative domestic issuance totaling ¥333.3 billion / As of As of end-March 2026 / Growth rate Not disclosed / Source Not disclosed
Risks identified by the company
Risk of fluctuations in the price of Ethereum and failure to achieve target returns
Risks relating to operations and asset management
Risks relating to financing, regulation and business development
Risks relating to litigation and the rebuilding of governance
| Item | Details |
|---|---|
| Plan name | HODL&BUIDL 2028 |
| Plan period | The three-year period from the fiscal year ending October 2026 through the fiscal year ending October 2028 |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → ¥20 million |
| Operating profit target | Not disclosed → ¥11 million |
| Segment target | Segment name HODL Business / Sales Target ¥1.2bn / Operating profit target ¥900 million, Segment name BUIDL Business / Sales Target ¥800 million / Operating profit target ¥200 million |
| Non-financial targets | Indicator Crypto-Asset Treasury Business / Target value Establishment / Timing Not disclosed, Indicator Ethereum-Related Business / Target value Monetization / Timing Not disclosed, Indicator Continued-listing criteria / Target value Stable compliance / Timing Not disclosed, Indicator Governance Structure / Target value Enhancement / Timing Not disclosed, Indicator Internal Controls and Recurrence Prevention Framework / Target value Strengthening and establishment / Timing Not disclosed |
| Plan assumptions | The security token market is expanding, with cumulative domestic issuance totaling ¥333.3 billion as of the end of March 2026, Annual staking yield of approximately 3%, A target average yield of 4% for Ethereum operations, Unrealized gains from increases in the value of held Ethereum are not included in the numerical plan, Recoveries from litigation relating to the recovery of diverted assets and the pursuit of liability are not incorporated into the numerical plan |
| Key initiatives | Strengthening governance and internal controls, Ensuring the independence of Audit and Supervisory Committee members, Reestablishing internal rules and regulations, Securing accounting personnel, Improving the efficiency of internal operations through the use of AI, Prior review by specialists of significant matters, Strict implementation of the internal approval process, Prior sharing with the Board of Directors, Lifting the going-concern note during the fiscal year ending October 2027, Recovery of diverted assets and pursuit of liability |
| Size of the Target Market | Scale Cumulative domestic issuance totaling ¥333.3 billion / As of As of end-March 2026 / Growth rate Not disclosed / Source Not disclosed |
| Risks identified | Risk of fluctuations in the price of Ethereum and failure to achieve target returns, Risks relating to operations and asset management, Risks relating to financing, regulation and business development, Risks relating to litigation and the rebuilding of governance |
| Date of board resolution | 30 April 2026 |
| Publication date | 30 April 2026 |
Items this document does not state (12)
Operating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorResults under the previous planReason for revision or withdrawal
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company recognizes the implementation of blockchain technology in the financial sector, the on-chain conversion of traditional financial assets, and the establishment of a regulatory framework for stablecoins as medium- to long-term growth opportunities. It also aims to restore enterprise value and achieve sustainable growth, starting from a financial base impaired by the outflow of company assets involving former management and others.
How to read this page
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