Convano boosts bitcoin holdings, revises financial outlook upwards

Convano's board has approved the purchase of an additional 20 billion yen in bitcoin, bringing its total cumulative bitcoin acquisition to approximately 31.4 billion yen. This move aligns with its "Convano 21,000 Bitcoin Financial Reinforcement Plan" to hold 21,000 BTC by March 2027, leveraging bitcoin as a "store of value" against inflation and yen depreciation. The acquisition will be completed by November 2025 and funded by a new 20 billion yen ordinary bond issuance, the fifth of its kind, with a maturity date of September 30, 2027.

The company also released an updated Mid-Term Management Plan, "Complementary Code 2029," and revised its full-year consolidated earnings forecast for March 2026. Revenue is now projected at 11,170 million yen, up from the initial 5,600 million yen, representing a 244.6% increase from March 2025. Operating profit is expected to reach 5,335 million yen, a significant 3851.9% increase from March 2025. These revisions are driven by the rapid growth of its consolidated subsidiaries, including Thinks Healthcare and Toranomon Capital, and the addition of bitcoin income business through new option trading.

The earnings forecast for March 2026 does not include any gains or losses from the newly approved bitcoin purchases. Convano emphasized that the bond issuance is a strategic decision to facilitate rapid bitcoin acquisition while minimizing dilution for existing shareholders, as the bond is interest-free and has a short maturity.