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DeCurret Implements Capital Increase of 2.75 Billion Yen

2020.04.10

DeCurret Implements Capital Increase of 2.75 Billion Yen

DeCurret Inc. (head office: Chiyoda-ku, Tokyo; President & CEO: Kazuhiro Tokita; hereinafter referred to as the “Company”) announces today that it has carried out capital enhancement by issuing new shares worth 2.75 billion yen in a third-party allocation of shares.

 

■Background and purpose of the capital enhancement

Amidst a growing major trend towards the spread of digital currency, the Company, which aims to become a “main bank of digital currency,” plans to use the proceeds of the capital increase not only to enhance transaction services for existing virtual currencies (crypto assets) but also to develop and to promote the business for the expansion of digital currency and settlement services.

 

■Overview of the capital enhancement

The Company’s largest shareholder, Internet Initiative Japan Inc. (head office: Chiyoda-ku, Tokyo; President & COO: Eijiro Katsu; hereinafter referred to as “IIJ”), subscribed for this third party allocation of shares, implemented by way of converting certain debts arising based on transactions with IIJ into equity capital (a so-called quasi debt-to-equity swap).

 

Changes in capital stock and capital reserves before and after the capital increase

 

Before

After

Capital stock

¥4,314 million

¥5,691 million

Capital reserves

¥4,314 million

¥5,691 million

Number of new shares issued: 13,770 shares

Type of shares issued: nonvoting classified stock

Ratios of voting rights after the capital increase: 30% held by IIJ, 70% by other existing corporate shareholders

 

【DeCurret】DeCurret-Implements-Capital-Increase-of-2.75-Billion-Yen.pdf