The listed company Remixpoint cancels the 1.2 billion yen Web3 investment plan

According to CoinDesk Japan, the Japanese listed company Remix Point announced the cancellation of its original plan to invest 1.2 billion yen in Web3.0-related business and has changed the use of funds to investments in battery and energy businesses.

The company had previously planned to enter the validation node business by collaborating with blockchain validation node operator Omakase, focusing on networks that use the Proof of Stake (PoS) consensus algorithm. The company stated that under the current business environment, it is difficult to secure high-quality investment projects that meet the standards of "high growth potential" and "appropriate balance of expected returns and risks" in the short term.

It is noteworthy that the company experienced a management change at the end of September, with CEO Takaishi Takashi, who was promoting the Web3 business, resigning just three months after taking office, and Takahashi Yoshihiko reassuming the role of CEO.

In addition, the company has completed its plan to purchase Bitcoin with 4.7 billion yen and decided in October to stop issuing new shares for the purpose of acquiring crypto assets.