Decision Not to Proceed with M&A Plan and Further Changes to Use of Funds for New Business Acquisition and Working Capital
First written in FY2023-Q2. 1 of 3 entries say "Reframed", first in FY2026-H1. Latest entry: FY2026.
1 other company's latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Funds decreased by ¥5,214 million through investing activities, compared with an increase of ¥259 million in the previous year. This was mainly due to payments for the acquisition of cryptoassets.」
The use of proceeds was reallocated from M&A and working capital for existing businesses to bond redemption and bitcoin purchases. During the current fiscal year, ¥5 billion was spent on acquiring crypto-assets and ¥4.225 billion on bond redemption. - FY2026-H1ReframedAnnual report
「(After the change) Specific use of proceeds Amount (¥ million) ① Bond redemption 3,900 October 2026 ② Bitcoin (BTC) purchases 2,695 September 2025–September 2030 Total 6,595」
The use of proceeds was reallocated to ¥3,900 million for bond redemption and ¥2,695 million for bitcoin purchases. The previous allocation, centred on business acquisitions and working capital for existing businesses, was reorganised into a structure linking crypto-asset purchases with bond redemption. - FY2023-Q2First statedAnnual report
「With the aim of expanding our business domains and building a revenue base, and further strengthening our management foundation, we concluded that acquiring through M&A a company that had already secured a certain level of earnings would be the most effective approach. We had been pursuing this plan with a target of August, but at the final checking stage, it became necessary, at the counterparty's request, to incur considerable expenses for extensions and repairs, so we decided not to proceed with the planned M&A. Going forward, we will strengthen each of our businesses—the nickel, real estate, renovation and education businesses—and use the funds to acquire new, highly profitable businesses related to our operations.」
We had been pursuing the M&A of a company capable of securing a certain level of earnings, with a target of August 2022, but abandoned the plan because the counterparty required substantial expenses for extensions, repairs and other work. The ¥390 million from the sixth series of stock acquisition rights and ¥475 million from the private placement were reallocated, for use from September 2022 onward, to fund the acquisition of a new business and working capital for the nickel, real estate and renovation businesses.