Cryptocurrency Price Surge and Contribution of Valuation Gains to Earnings
First written in FY2018-Q3. 17 of 39 entries say "Worsened", first in FY2019-Q3. Latest entry: 2026-10-05.
Remixpoint moved to the "Worse" side of this theme in 2019.
The whole theme swung hardest in 2022: 1 of 6 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026WorsenedAnnual report
「Under these circumstances, based on the fair value of crypto assets held as of 31 March 2026, the company recorded a crypto asset valuation loss of ¥5,893 million, reflected as a decline in sales. As a result, segment sales were negative ¥5,887 million, compared with negative ¥2,049 million in the previous fiscal year, and the segment loss (operating loss) was ¥5,887 million, compared with a segment loss (operating loss) of ¥2,098 million in the previous fiscal year.」
The valuation gain of ¥3,747 million in the previous interim period turned into a crypto asset valuation loss of ¥5,893 million for the full fiscal year, resulting in an operating loss of ¥5,887 million in the digital asset management business. - FY2026-H1Valuation loss reverses to gainAnnual report
「Under these circumstances, based on the fair value of crypto assets held as of 30 September 2025, the company recorded a crypto asset valuation gain of ¥3,747 million, reflected as an increase in sales. As a result, segment sales were ¥3,739 million and segment profit (operating profit) was ¥3,739 million.」
From a crypto asset valuation loss of ¥2,049 million and an operating loss in the previous fiscal year, the company recorded a crypto asset valuation gain of ¥3,747 million in the interim period, and the digital asset management business reported operating profit of ¥3,739 million. - FY2025WorsenedAnnual report
「Under these circumstances, based on the fair value of crypto assets held as of 31 March 2025, the company recorded a crypto asset valuation loss of ¥2,049 million, reflected as a decline in sales. As a result, segment sales were negative ¥2,049 million and the segment loss (operating loss) was ¥2,098 million.」
The impact on results of crypto asset prices and valuation gains and losses deteriorated from the past contribution of valuation gains to a ¥2,049 million valuation loss on crypto assets held and an operating loss of ¥2,098 million in the financial investment business. - FY2025-H1WorsenedAnnual report
「Crypto asset valuation loss － 55」
The impact on results of crypto asset prices and holdings shifted from the recognition of valuation gains in the past to the recognition of a ¥55 million crypto asset valuation loss as non-operating expense in the interim period. - FY2024ReframedAnnual report
「Crypto asset valuation loss － 27」
The explanation shifted from one centered on past valuation gains and their contribution to operating revenue in the financial services business to one concerning the recognition of a ¥27 million crypto asset valuation loss as non-operating expense on crypto assets held for own account remaining after the business exit. - FY2024-Q2WorsenedAnnual report
「Crypto asset valuation loss － 76」
The impact on results of crypto asset prices and holdings increased from a ¥50 million valuation loss through the previous quarter to a ¥76 million valuation loss in the six months ended 30 September. Following the discontinuation of the financial services business, it has been recorded as non-operating expense. - FY2024-Q2WorsenedAnnual report
「Crypto asset valuation loss － 76」
The impact on results of crypto asset prices and holdings increased from a ¥50 million valuation loss through the previous quarter to a ¥76 million valuation loss in the six months ended 30 September. Following the discontinuation of the financial services business, it has been recorded as non-operating expense. - FY2024-Q1WorsenedAnnual report
「Crypto asset valuation loss － 50」
The impact on results of crypto asset prices and holdings shifted from the recognition of valuation gains in the past to the recognition of a ¥50 million crypto asset valuation loss as non-operating expense in the current quarter. - FY2023-Q3WorsenedAnnual report
「During the nine months ended 31 December, the price of bitcoin fell rapidly from ¥5.73 million at the beginning of April to ¥2.64 million at the end of June. Although it subsequently entered a period of relative calm, it fell rapidly again in November, reaching ¥2.17 million at the end of December (BPJ published data).」
The price of bitcoin fell from ¥5.73 million at the beginning of April to ¥2.17 million at the end of December, and market conditions continued to deteriorate as crypto asset prices declined. - FY2023-Q1ReframedAnnual report
「Even as market conditions remained sluggish, BPJ maintained revenue by expanding services for customers and contained the increase in selling, general and administrative expenses by improving operational efficiency. These initiatives enabled both sales and profit to exceed the same quarter of the previous year.」
The focus shifted from the contribution to results of surging crypto asset prices and valuation gains to the explanation that revenue was maintained and expanded through enhanced customer services and improved operational efficiency even during a market downturn. - FY2022AdvancedAnnual report
「During the fiscal year, fee income and trading revenue increased following the launch of trading in multiple crypto assets. Although sales grew, profitability improved from the previous consolidated fiscal year because selling, general and administrative expenses were kept at a low level. As a result, segment sales were ¥10,767 million, up 739.0% from the previous fiscal year, and segment profit (operating profit) was ¥7,612 million, compared with an operating loss of ¥260 million in the previous consolidated fiscal year.」
The expansion of crypto assets offered, increased fee income and trading revenue, and control of selling, general and administrative expenses enabled the financial services business to turn an operating loss into operating profit of ¥7,612 million. - FY2022-Q3AdvancedAnnual report
「In the nine months ended 31 December, fee income and trading revenue increased following the launch of trading in crypto assets including Tron (TRX), Cardano (ADA), Jasmy (JMY), Polkadot (DOT), and Chainlink (LNK). Despite the substantial increase in sales, profitability improved year on year because selling, general and administrative expenses were kept at a low level. As a result, segment sales were ¥7,357 million, compared with ¥513 million in the same period of the previous year, and segment profit (operating profit) was ¥5,433 million, compared with a segment loss (operating loss) of ¥627 million in the same period of the previous year.」
The expansion of crypto assets offered and control of selling, general and administrative expenses enabled the financial services business to report sales of ¥7,357 million and segment profit of ¥5,433 million, a substantial turnaround from the operating loss in the same period of the previous year. - FY2022-Q2AdvancedAnnual report
「In the six months ended 30 September, customer trading, which had increased following the launch of the new system in the second half of the previous fiscal year, remained strong. In addition, the number of accounts grew steadily through promotional activities and the number of active users increased, enabling the company to substantially increase revenue. The company also received screening fees for newly listed currencies.」
Rather than crypto asset valuation gains, the company identified the launch of the new system, promotional activities, increases in the number of accounts and active users, and screening fees for newly listed currencies as factors behind revenue growth. - FY2022-Q1ReframedAnnual report
「In the nine months ended 30 June, customer trading, which had increased following the launch of the new system in the second half of the previous fiscal year, remained strong. In addition, the number of accounts grew steadily through promotional activities and the number of active users increased, enabling the company to substantially increase revenue.」
The focus of the revenue explanation shifted from the former emphasis on valuation gains from crypto asset prices to expanded customer trading driven by the new system, promotional activities, and increases in the number of accounts and active users. - FY2021AdvancedAnnual report
「As a result, segment sales were ¥1,283 million, up 72.7% from the previous fiscal year, and the segment loss (operating loss) was ¥260 million, compared with an operating loss of ¥1,033 million in the previous consolidated fiscal year.」
The financial services business increased sales by 72.7%, while its operating loss narrowed from ¥1,033 million to ¥260 million. It did not, however, reach profitability. - FY2021-Q3ReframedAnnual report
「Initially, revenue did not grow and the segment posted a substantial loss partly because customer trading was sluggish. However, following the launch of the new system in August 2020, customer trading increased significantly, and, as crypto asset prices surged toward year-end, customers who had newly begun trading crypto assets engaged in exchange-based transactions. As a result, revenue increased substantially in the third quarter compared with the six-month period.」
The explanation of crypto asset-related results shifted from valuation gains driven by price movements to the launch of the new system, higher customer trading volume, and increased exchange-based transactions resulting from the year-end price surge. Revenue increased in the third quarter, but cumulative sales were ¥513 million and the operating loss was ¥627 million. - FY2021-Q2ReframedAnnual report
「Since the new system began operating in August 2020, the company has operated the service by prioritizing customer awareness and usage over revenue generation. As a result, customer trading volume increased, but this did not lead to higher revenue.」
The focus of the explanation shifted from the impact of crypto asset price movements and valuation gains to the fact that customer trading volume increased after the new system began operating but did not lead to monetization. - FY2021-Q1ReframedAnnual report
「The company recorded sales of ¥205 million in the same quarter of the previous year, when the market showed momentum due to rising crypto asset prices and higher trading volume. In the first quarter, however, sales declined partly because customer trading volume was low.」
The focus of the explanation of factors affecting results shifted from the contribution of rising prices and higher trading volume, and the impact of falling prices, to a decline in sales caused by insufficient customer trading volume in the current quarter. - FY2020WorsenedAnnual report
「As a result, segment sales were ¥743 million, down 44.4% from the previous fiscal year, and the segment loss (operating loss) was ¥1,033 million, compared with an operating loss of ¥1,237 million in the previous consolidated fiscal year.」
The financial services business saw sales decline 44.4% year on year and recorded an operating loss of ¥1,033 million. Due to price volatility, illicit outflows, service suspensions and other factors, the business has remained sluggish rather than continuing its former market expansion and contribution to earnings. - FY2020-Q3WorsenedAnnual report
「As a result, segment sales were ¥743 million, down 62.9% year on year, and the segment loss (operating loss) was ¥632 million, compared with operating profit of ¥59 million in the same period of the previous year.」
The financial services business saw sales decline 62.9% year on year and shifted from operating profit of ¥59 million in the same period of the previous year to an operating loss of ¥632 million. The disclosure refers to losses related to illicit outflows and the impact after the service was suspended. - FY2020-Q2WorsenedAnnual report
「As a result, segment sales were ¥702 million, down 67.2% year on year, and the segment loss (operating loss) was ¥278 million, compared with segment profit (operating profit) of ¥1,015 million in the same quarter of the previous year.」
Affected by crypto asset price volatility and illicit outflows, the financial services business saw sales decline 67.2% year on year and shifted from operating profit of ¥1,015 million in the same period of the previous year to an operating loss of ¥278 million. - FY2020-Q1ReframedAnnual report
「The crypto asset market showed signs of momentum in the first quarter, including rising prices and higher trading volume, and expectations regarding legal amendments and other developments also increased. However, on the revenue side, sales declined because large transactions decreased year on year, while on the profit side, profit declined because expenses for UI/UX development and other measures to improve customer convenience increased.」
Although the crypto asset market turned toward rising prices and higher trading volume, the financial services business stated that the market recovery did not directly translate into improved results because large transactions declined and UI/UX development costs increased. - FY2019WorsenedAnnual report
「However, on the revenue side, the company was affected by declining crypto asset prices in the third quarter because it temporarily increased its crypto assets held for trading in response to higher trading volume. On the profit side, profit declined mainly because expenses increased due to intensive system development and other measures to combat money laundering and terrorist financing in preparation for the FATF fourth-round mutual evaluation of Japan. As a result, segment sales were ¥1,337 million, down 71.9% from the previous consolidated fiscal year, and the segment loss (operating loss) was ¥1,237 million, compared with operating profit of ¥3,936 million in the previous consolidated fiscal year.」
Due to the impact of declining crypto asset prices and increased system costs for AML and counter-terrorist financing measures, the financial services business reported a 71.9% decline in sales and an operating loss of ¥1,237 million. - FY2019-Q3WorsenedAnnual report
「However, on the revenue side, the Group was affected by falling cryptocurrency prices because it temporarily increased its cryptocurrency holdings for trading in response to higher trading volumes. On the profit side, earnings declined because of increased marketing costs and intensive system development for anti-money laundering and counter-terrorist financing measures ahead of the FATF’s fourth-round mutual evaluation of Japan.」
The decline in crypto asset prices affected crypto assets held for trading, and the impact on results shifted in a negative direction from the former contribution of rising prices and valuation gains. - FY2019-Q2SoftenedAnnual report
「During the previous year, the cryptocurrency trading market was revitalized by various legislative developments and reached a peak in December 2017. However, following the discovery in January 2018 of an unauthorized outflow of cryptocurrency from a deemed cryptocurrency exchange service provider, the market, which had temporarily overheated, returned to a more stable condition.」
The explanation has continued to shift from emphasizing the peak of the crypto asset market and the contribution of surging prices to results to stating that the market had quieted. - FY2019-Q1SoftenedAnnual report
「Following the discovery in January 2018 of an incident involving the illicit outflow of crypto assets at a deemed crypto asset exchange operator, the market, which had temporarily overheated, has regained stability.」
The explanation shifted from emphasizing the contribution of surging crypto asset prices and valuation gains to results to stating that the market had regained stability. - FY2018RestatedAnnual report
「Due mainly to an increase in crypto asset valuation gains from the end of the previous fiscal year, non-operating income for the fiscal year increased by ¥218 million from the previous fiscal year to ¥220 million.」
The company explained that higher crypto asset valuation gains contributed to non-operating income of ¥220 million and were one factor behind ordinary income of ¥3,358 million. - FY2018-Q3First statedAnnual report
「For the nine months ended 31 December, consolidated results were net sales of ¥7,856 million, operating profit of ¥582 million, ordinary income of ¥938 million, and profit attributable to owners of the parent of ¥803 million, including ¥375 million in crypto asset valuation gains recorded as non-operating income.」
The company disclosed crypto asset valuation gains of ¥375 million as non-operating income and identified them as one factor behind ordinary income of ¥938 million. This indicates that rising prices and an increase in market participants contributed to the financial services business and consolidated results.