Worth reading
23Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedInvestment amount by sectorField Strategic investment budget / Amount Approximately 10% to 15% of total assets, Field Bitcoin / Amount Approximately 85% to 90% of total assets
Key initiatives
01Purpose of introducing the net interest income strategy
02Funding cost advantage
03Access to investors in Japan
04Access to the US capital markets
05Funding capacity leveraging Bitcoin holdings
06Low yen interest rates
07Investment target
08Net interest margin
09Leverage and risk limits
10Assessment of earnings-generating capacity using the balance sheet
11Key performance indicators (KPIs) and disclosure policy
Plan assumptionsMarket demand, market conditions, applicable regulatory requirements, satisfaction of the closing conditions for the strategic investment in SLE, whether foreign exchange exposure is hedged, and management in line with market conditions
Risks identified by the company
Credit risk of investment assets
Market Risk
Liquidity Risk
Risks associated with leverage
Issuer concentration risk
Foreign-Exchange Exposure
Correlation risk between the value of investment assets and the price of Bitcoin
The risk that the closing conditions for the strategic investment in SLE will not be satisfied and the transaction will not be completed as planned
The possibility that actual results may differ materially from the forward-looking statements
| Item | Details |
|---|---|
| Plan name | Net interest income strategy |
| Progress against the plan | Formulated |
| Investment amount by sector | Field Strategic investment budget / Amount Approximately 10% to 15% of total assets, Field Bitcoin / Amount Approximately 85% to 90% of total assets |
| Plan assumptions | Market demand, market conditions, applicable regulatory requirements, satisfaction of the closing conditions for the strategic investment in SLE, whether foreign exchange exposure is hedged, and management in line with market conditions |
| Key initiatives | Purpose of introducing the net interest income strategy, Funding cost advantage, Access to investors in Japan, Access to the US capital markets, Funding capacity leveraging Bitcoin holdings, Low yen interest rates, Investment target, Net interest margin, Leverage and risk limits, Assessment of earnings-generating capacity using the balance sheet, Key performance indicators (KPIs) and disclosure policy |
| Risks identified | Credit risk of investment assets, Market Risk, Liquidity Risk, Risks associated with leverage, Issuer concentration risk, Foreign-Exchange Exposure, Correlation risk between the value of investment assets and the price of Bitcoin, The risk that the closing conditions for the strategic investment in SLE will not be satisfied and the transaction will not be completed as planned, The possibility that actual results may differ materially from the forward-looking statements |
| Publication date | 5 October 2026 |
Items this document does not state (18)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetNon-financial targetsResults under the previous planReason for revision or withdrawalSize of the Target MarketDate of board resolution
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.To make maximizing BTC yield the highest-priority objective while generating recurring income, thereby reducing the effective cost of capital, funding dividend payments on preferred shares and interest payments on bonds, and securing funds for additional Bitcoin purchases.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.