According to reports, a long-running Japanese kimono and textiles maker will formally rename itself “Bitcoin Japan” at a shareholders meeting set for November 11 as it begins to hold Bitcoin on its balance sheet.

The company also plans to adopt “Bitcoin Japan Corporation” as its English name and said it will focus on crypto treasury operations. Some of these moves were announced in a company release this week.

Company Rebrands To Signal New Focus

Bakkt’s June agreement to buy a controlling stake in the business helped trigger the shift. Reports have disclosed that Phillip Lord, president of Bakkt International, will take the CEO job at the newly named firm, and Akshay Naheta, co-chief executive officer of Bakkt Holdings, will become chairman of the board.

The company stated the n

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