This Is the Reason Bitcoin Treasury Companies Are Surging in Japan

In Japan, companies adopting a 'digital asset treasury' business model have recently surged. Analysts say Japan's tax structure is encouraging companies to purchase digital assets.

On the 22nd (Korean time), virtual asset (cryptocurrency) specialist media Id News reported that Japan's abnormal tax structure makes companies overwhelmingly more advantaged than individuals when purchasing virtual assets.

Under Japan's current tax law, individuals' virtual asset investment income is classified as miscellaneous income and is taxed up to 55%. In contrast, companies are subject to a corporate tax rate of about 23.2%, making investing in virtual assets such as Bitcoin (BTC) much less burdensome. Also, ordinary companies that are not virtual asset dealers can hold digital assets on the books at acquisition cost, allowing them to avoid taxation on unrealized gains.

As an effect of this tax approach, many listed companies in Japan have recently been accumulating digital assets. These include MetaPlanet (30,823 Bitcoins), Remixpoint (1,411 Bitcoins), Anab Holdings (1,146 Bitcoins), and Gumi (80 Bitcoins).

However, Id News assessed that this trend could raise concerns among regulators. Indeed, after the share prices of digital asset treasury firms in Japan recently plunged, the Japan Exchange Group (JPX) is reportedly considering tightening regulations on digital-asset-focused strategies.

Meanwhile, Japan's Financial Services Agency (FSA) is considering a comprehensive overhaul of individual virtual asset taxation in light of this situation. A proposed amendment presented in November 2025 would change the top individual tax rate of 55% to a flat 20% rate (the same as stocks) and classify 105 virtual assets as financial products, bringing them under the scope of the Financial Instruments and Exchange Act.