On August 6, Bakkt Holdings, Inc., announced it has agreed to purchase roughly 30% of MarushoHotta Co., Ltd., a Tokyo Stock Exchange-listed firm, becoming its largest shareholder and paving the way for a strategic shift toward Bitcoin and other digital assets.
The deal, reached with RIZAP Group, Inc., positions Bakkt to take a significant role in reshaping MHT’s financial operations. As part of the agreement, Phillip Lord, president of Bakkt International, will assume the role of chief executive officer at MHT.
Digital Asset Focus and New Domain Acquisition
Under the planned changes, MHT intends to begin investing in Bitcoin and other digital assets as part of its corporate treasury strategy. In a move aligned with that shift, Bakkt has acquired the web domain bitcoin.jp. If approved by MHT shareholders, the company will adopt the domain name as its new corporate identity.
Bakkt co-CEO Akshay Naheta said Japan’s regulatory framework provides a favourable setting for developing a Bitcoin-centred business model. The company expects to work with MHT’s existing team to integrate digital assets into both operational and financial planning.
Shareholder Approval Pending
The agreement is subject to approval by MHT’s shareholders. If cleared, the transaction will give Bakkt a controlling influence over the company’s direction without taking a majority stake.
Marusho Hotta, traded under ticker 8105 on the TSE, has historically operated in the wholesale and retail sectors. The pending changes mark a notable shift toward digital finance, underscoring the growing interest among Japanese firms in cryptocurrency adoption. The transaction terms were not disclosed, and Bakkt did not provide a timeline for the completion of the deal.
