Discontinuation of the Crypto Asset Business and Dissolution and Liquidation of Consolidated Subsidiaries
unbanked株式会社, Kinka（BVI）,Ltd., General Incorporated Association Gold Fund, Gold Management LLC
Crypto asset “Kinka” (on the Ethereum blockchain and Cardano blockchain)
Kinka sales remained sluggish and did not reach the initially expected sales scale. For Cardano-based Kinka, it is no longer expected that USDA, the consideration for sales, will be listed on a CEX, while sales through DEXs could potentially violate the laws and regulations of users’ countries of residence. The Company determined that it would be difficult to ensure profitability even if the business continued.
Several million yen is expected to be incurred as expenses associated with the dissolution and liquidation of the consolidated subsidiaries (accounting classification: Not disclosed)
No impact on the earnings forecast or forecast revisions is stated, and the impact on earnings is described as minor
Company response
Kinka operations are scheduled to be discontinued and all outstanding tokens burned during October 2026. For the Ethereum version, 17:00 on 30 October 2026 (Japan time) is the final deadline for requests for repurchase and exchange for gold bullion
Kinka operations will be discontinued and the tokens burned in October 2026. From November 2026 through March 2027, procedures for the dissolution and liquidation of Kinka（BVI）,Ltd., General Incorporated Association Gold Fund, and Gold Management LLC will be carried out in sequence and are scheduled to be completed by the end of March 2027
If any matters arise that should be disclosed in light of future developments, the Company plans to disclose them promptly
| Item | Details |
|---|---|
| Event name | Discontinuation of the Crypto Asset Business and Dissolution and Liquidation of Consolidated Subsidiaries |
| Date of occurrence | 16 October 2026 (date of the Board of Directors resolution) |
| Subject Entity | unbanked株式会社, Kinka（BVI）,Ltd., General Incorporated Association Gold Fund, Gold Management LLC |
| Target Locations / Products | Crypto asset “Kinka” (on the Ethereum blockchain and Cardano blockchain) |
| Cause | Kinka sales remained sluggish and did not reach the initially expected sales scale. For Cardano-based Kinka, it is no longer expected that USDA, the consideration for sales, will be listed on a CEX, while sales through DEXs could potentially violate the laws and regulations of users’ countries of residence. The Company determined that it would be difficult to ensure profitability even if the business continued. |
| Amount of Impact on Business Performance | Several million yen is expected to be incurred as expenses associated with the dissolution and liquidation of the consolidated subsidiaries (accounting classification: Not disclosed) |
| Impact on Earnings Forecast | No impact on the earnings forecast or forecast revisions is stated, and the impact on earnings is described as minor |
| Suspended operations | Kinka operations are scheduled to be discontinued and all outstanding tokens burned during October 2026. For the Ethereum version, 17:00 on 30 October 2026 (Japan time) is the final deadline for requests for repurchase and exchange for gold bullion |
| Outlook | Kinka operations will be discontinued and the tokens burned in October 2026. From November 2026 through March 2027, procedures for the dissolution and liquidation of Kinka（BVI）,Ltd., General Incorporated Association Gold Fund, and Gold Management LLC will be carried out in sequence and are scheduled to be completed by the end of March 2027 |
| Planned follow-up disclosure | If any matters arise that should be disclosed in light of future developments, the Company plans to disclose them promptly |
Items this document does not state (15)
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.Kinka sales remained sluggish due to the overwhelming market share of competing products, among other factors, and it is no longer expected that USDA, the consideration for sales of Cardano-based Kinka, will be listed on a CEX. Sales through DEXs were also abandoned because they could potentially violate the laws and regulations of users’ countries of residence. The Company determined that it would be difficult to ensure profitability even if the business continued.