- Convano created a Bitcoin Strategy Office and invested ¥400 million in July 2025.
- The company targets 21,000 Bitcoins by 2027 as a shield against yen depreciation.
- Convano’s share price doubled after its bold decision to adopt Bitcoin holdings.
Convano Inc., a Tokyo-listed nail salon operator, has launched a sweeping transformation, moving beyond its beauty business into an aggressive Bitcoin strategy. The company established a “Bitcoin Strategy Office” in July 2025 under Director Taiyo Azuma, committing ¥400 million (about $2.7 million) for its initial Bitcoin purchase. This represented a drastic departure from traditional methods of treasury and was an indication of pressures, including long-term depreciation of the yen and increasing inflation in Japan.
Convano adopted a multiphase acquisition plan targeting 2,000 BTC by the end of 2025, 10,000 BTC by August 2026, and an ambitious 21,000 BTC by March 2027—representing 0.1% of total Bitcoin supply. To fund this accumulation, Convano raised around ¥2 billion ($13.5 million) in August, quickly acquiring 165 BTC within two weeks. Its current holdings stand near 365 BTC.
The company also issued ¥4.5 billion through corporate bonds for further purchases, with Nomura Securities and SMBC Nikko Securities serving as brokers. Convano projects acquisitions at an average price of ¥19.9 million per Bitcoin.
Responding to Economic Pressures
Convano’s leadership presents its Bitcoin focus as a rational response to structural challenges in Japan’s economy. The yen has weakened about 21% against the U.S. dollar over the past decade, lifting costs for wages and raw materials in consumer services. This decline created long-term concerns about financial stability for firms heavily reliant on domestic operations.
“We started to think about Bitcoin because of the persistent yen depreciation and geopolitical risks,” Azuma said when announcing the plan. “Bitcoin is a long-term store of value.”
The pivot demonstrates Convano’s attempt to hedge against these macroeconomic shocks by integrating Bitcoin into its core treasury framework. The firm is also indicating that the decision is not speculative, as it commits to staged acquisitions and structured financing. Convano has packaged its move as not only diversification but also an identity-forming corporate strategy.
A Growing Corporate Trend
Convano is not the only one in this course. A number of companies in Japan have been observed to change corporate identities as they convert to Bitcoin and other digital assets as their treasury holdings. The former hotel operator, Metaplanet, currently owns approximately 19,000 BTC, serving as a notable example of the emerging trend.
Related: Monex Plans Yen-Pegged Stablecoin for Japan’s Digital Market
Following its announcement, Convano’s stock price increased more than twofold, indicating that investors were very interested in the digital asset pivot. These changes indicate a broader corporate experiment, whereby companies are repositioning themselves towards crypto as a launchpad for long-term positioning. Such an emergence of strategies poses a critical question: Are digital assets becoming central elements of corporate infrastructure in Japan and moving beyond speculative investment?
Despite the high levels of enthusiasm, there are still risks. Bitcoin’s volatility may cause sudden fluctuations in valuation, which can expose ambitious plans to reactive failures. Analysts cautioned that the first wave of investor enthusiasm can fade fast in case the market turns negative. Convano, like its counterparts, must contend with juggling financial innovation and exposure to market volatility.
