Enish, a Japanese, Tokyo Exchange-listed gaming company, has become the latest developer to announce plans to buy Bitcoin (BTC).
The firm, which launched in 2009, said it would use its balance sheet to purchase 100 million yen ($667,260) worth of Bitcoin.
Enish: Bitcoin Purchase to Complete by April 4
The Tokyo-based company, which has worked on mobile games such as De:Lithe – The King of Oblivion and Angel of the Covenant said the move would help it strengthen its web3 business operations.
Per the Japanese-language media outlet CoinPost and an Enish public disclosure document published on April 1, the company said it would wrap up its purchases by April 4.
The company added that an unnamed domestic crypto exchange would help it complete its BTC buy orders.
The company already has considerable crypto and web3 interests. Another of its De:Lithe titles, Last Memories, is a blockchain game.
The firm said its BTC buy would help “deepen understanding” of blockchain technology and “strengthen” its “technical capabilities” in the development sector.
Enish also wrote that crypto-buying was now “part of its financial strategy.” The firm added that it aims to diversify its financial assets, while “taking advantage of the liquidity and stability” of the Bitcoin market.
It also made note of the “opportunity to garner profits” from future BTC price rises.
And the gaming firm explained that it would conduct quarterly reviews on its Bitcoin investment.
It concluded by promising to record any unrealized gains or losses in its regular financial reports.
Japanese Firms Continue to Buy Bitcoin
The number of Japanese firms using their balance sheets to buy BTC has skyrocketed this year.
Their number includes fellow gaming firms like Gumi, which is also set to hold a BTC lottery for new shareholders.
Other Bitcoin-buying Japanese firms include the real estate and digital transformation firm Value Creation, the investor Metaplanet, the health provider SBC Medical Group, and the auto trading platform Remixpoint.
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