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The Japanese kimono and textile manufacturer Marusho Hotta will officially adopt the name Bitcoin Japan during a shareholders meeting scheduled for next month.
In a formal announcement from Marusho Hotta, the company indicated that the name change will take effect at the shareholders meeting on November 11.
Additionally, Marusho Hotta revealed that it will change its English name to “Bitcoin Japan Corporation” as it begins accumulating Bitcoin (BTC).
The company initially disclosed its new Bitcoin treasury business operations following a June agreement in which the US-based crypto custody firm Bakkt Holdings acquired a controlling stake in Marusho Hotta.
Bakkt Holdings has completed the acquisition of the domain https://t.co/AVELNw1uzx, enhancing our presence in Japan with a prime web address.
Read the full press release : https://t.co/XxHU3hm1Rf pic.twitter.com/Jon5t2iYnw
— Bakkt (@Bakkt) September 22, 2025
Marusho Hotta: Bitcoin Transition Under Bakkt
The Japanese company is among the most renowned and historic kimono manufacturers and textile producers in the country.
It also manages a variety of contemporary and hybrid fashion brands. However, after experiencing years of declining sales and stagnation on the Tokyo Exchange, it was acquired by the Tokyo-based RIZAP Group in 2017.
Bakkt made its move in June, expressing its intention to become Marusho Hotta’s largest shareholder and to transform the company into “a leading Japanese Bitcoin treasury firm.”
In its release dated September 26, Marusho Hotta stated:
“We have decided to initiate a new venture, the Bitcoin treasury business, to broaden our business scope and explore new areas in the future. We are also contemplating the launch of finance-related business operations.”
These operations will primarily focus on Marusho Hotta’s Bitcoin treasury activities.
Marusho Hotta (8105) share prices on the Tokyo Exchange over the past 12 months. (Image: Google Finance)
New Leadership Confirmed
The company has also confirmed that Phillip Lord, President of Bakkt International, will take on the role of CEO at Bitcoin Japan.
Akshay Naheta, co-CEO of Bakkt Holdings, will step into the position of Chairman of the Board of Directors.
The firm noted that its new management structure aims to “better align the interests of directors and shareholders.”
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This, according to the company, will assist in “achieving a medium- to long-term enhancement in corporate value.”
More Textile Companies Turning to BTC?
Founded in 1861, Marusho Hotta opened one of Japan’s first kimono wholesale outlets in 1894 and became publicly traded on the Tokyo Exchange in 1974.
Earlier this year, Kitabo, a TYO-listed synthetic yarn producer, announced its own intentions to purchase Bitcoin and “enter the cryptoasset and Real-World Asset (RWA) sectors.”
Kitabo stated it plans to acquire approximately $5.4 million worth of Bitcoin as an initial step into the market.
The company, like many others in the Japanese textiles and traditional clothing sector, has experienced significant revenue declines in recent years.
In 2021, the EU-Japan Center for Industrial Cooperation observed that “old, traditional [Japanese] retailers have seen sales diminish as they become less and less viable.”
Both Kitabo and Marusho Hotta have certainly felt the impact. After accumulating years of annual net losses, Kitabo reported a net loss of $785,000 for FY2024.
In contrast, Marusho Hotta recorded a net income of minus 407.32 million yen (-$2,724,439) for the same fiscal period.
Contemporary-meets-traditional designs from the Japanese textiles and clothing firm Marusho Hotta’s Youtowa brand. (Source: @youtowa_official/Instagram)
Metaplanet Takes the Lead
Kitabo expressed its ambition to develop cross-border business opportunities and collaborations with international companies.
The companies are also likely to introduce BTC lending services as part of their significant rebranding initiatives.
This year has witnessed numerous Japanese firms from various sectors entering the Bitcoin treasury space.
Metaplanet has taken the lead, acquiring enough Bitcoin to rank among the global top five BTC treasury firms.
Other companies, including the loyalty points provider Remixpoint, game developers like Gumi, and the fashion retailer ANAP, have also recently entered the Bitcoin market.
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