Japanese nail giant Convano launches a $3 billion Bitcoin acquisition plan! The goal is to hold 21,000 BTC to impact the global top ten.

The Tokyo-listed company Convano has officially launched its Bitcoin strategy, planning to raise 434 billion yen (approximately 3 billion USD) to acquire 21,000 BTC, which is equivalent to 0.1% of the total Bitcoin supply. The company has already financed 4.5 billion yen through corporate bonds, completing the first phase of acquiring 365 BTC. This move has driven its stock price to rise by 223% within the month, becoming the latest case of a Japanese listed company embracing a Bitcoin reserve strategy.

Company Background and Strategic Goals

Convano, as a listed nail salon operator on the Tokyo Stock Exchange, is transforming into a pioneer in cryptocurrency asset allocation. The company's BTC Strategic Office Director, Taiyo Azuma, has clearly outlined a three-phase implementation path: achieving a holding of 2,000 BTC by the end of 2025, reaching the target of 10,000 BTC by August 2026, and ultimately completing a strategic reserve of 21,000 BTC by March 2027, aiming to rank among the top global enterprises in Bitcoin holdings.

strategic transformation to cope with economic pressure

The company has positioned Bitcoin investment as a strategic move to address macroeconomic challenges. Over the past decade, the yen has depreciated by about 21% against the dollar, leading to rising wages and raw material costs in its consumer services business. Dongtai Central stated: "Due to the ongoing depreciation of the yen and geopolitical risks, we have begun to focus on Bitcoin as a means of long-term value storage."

Financing Model and Market Response

As of now, Convano has financed 4.5 billion yen through corporate bonds and completed an initial acquisition of 365 BTC. After the announcement of this strategy, the market reacted strongly, with the company's stock price soaring 223.27% in the month and a cumulative rise of 1414.68% for the year, demonstrating investors' strong recognition of the enterprise-level Bitcoin allocation strategy.

Japan's corporate Bitcoin investment boom

Japan is becoming a popular region for listed companies to allocate Bitcoin. Former hotel operator Metaplanet Inc. currently holds nearly 19,000 BTC, ranking among the top ten listed companies in the world by holdings. According to Bitcoin Treasuries data, seven Japanese companies have entered the top 100 global listed companies by Bitcoin holdings.

Experts warn of potential risks

However, experts such as Matthew Sigel, head of digital asset research at VanEck, point out that the Bitcoin treasury strategy of listed companies is built on an "unstable foundation". When the stock trading price is much higher than the Bitcoin net asset value (NAV), issuing new shares creates a premium; but when the stock price approaches the value of Bitcoin holdings, it leads to equity dilution. Glassnode's chief analyst James Check also warns that "the lifecycle of the Bitcoin treasury strategy may be much shorter than most people expect. Early adopters like MicroStrategy have established an advantage, while latecomers face greater challenges."

Risk Management and Volatility Management

In response to the price volatility risk of Bitcoin, Dongtai Central proposed a unique perspective: first, price declines allow the company to accumulate more BTC at a lower cost; secondly, high volatility may actually increase the company's profits; third, the combination of "low interest rates and high volatility" creates ideal conditions for achieving goals; finally, the company has established an effective risk management mechanism.

Conclusion

Convano's radical Bitcoin strategy reflects both Japan's innovative attempts to cope with currency depreciation and reveals a paradigm shift in the asset allocation of publicly listed companies. Although experts question the sustainability of such strategies, the trend of Japanese companies collectively embracing Bitcoin has already formed. Investors need to closely monitor the dynamic balance between Bitcoin price fluctuations and companies' equity financing capabilities; the success or failure of this new model will depend on whether companies can maintain strategic focus and financial stability in a volatile market.