ANAP Holdings
3189 · Tokyo Stock Exchange (Standard)Operating co.MediumJapan
BTC held
1,423
as of Apr 21, 2026 · 0.007% of 21M
Value now
$111M
at BTC $78,218
Basic mNAV
0.29×
mkt cap $32M as of Sep 4, 2026
Sats per share
3,117
46M shares as of Aug 31, 2026
Cost basis
- Average cost per BTC
- $94,096
- Total invested
- $135M
- Unrealized gain
- $-23M (-16.9%)
Treasury debt
No convertible notes or treasury-linked debt on file.
Recent activity
Apparel retailer buying BTC via subsidiary ANAP Lightning Capital: reached 1,417 BTC in January 2026 and added ~5-6 BTC in April 2026 to ~1,423 BTC (trackers vary slightly: bitcointreasuries.net 1,423 as of Apr 21; CoinGecko 1,431 as of Apr 22). In April 2026 it announced a strategic partnership with HashKey Group to expand its bitcoin treasury and institutional asset management in Japan; no purchases have been reported by trackers since April.
Risk notes
Deep mNAV discount: market cap (~JPY 5.2B / ~$33M, converted at USD/JPY 159.68) is roughly a quarter of the BTC stack's ~$112M value, and CoinGecko shows an unrealized loss vs its ~$134.7M cost basis; the pivot has been funded by repeated dilutive share/warrant issuances and the core apparel business is loss-making. Holdings figure is ~4 months old.
Sources
- https://bitcointreasuries.net/public-companies/anap-holdings-inc
- https://www.coingecko.com/en/treasuries/companies/anap-holdings
- https://coinfomania.com/japanese-firm-anap-holdings-raises-bitcoin-holdings-to-1417-btc/
- https://chainwire.org/2026/04/23/hashkey-group-announces-strategic-partnership-with-anap-holdings-to-expand-bitcoin-treasury-and-institutional-asset-management-in-japan/
- https://stockanalysis.com/quote/tyo/3189/statistics/
- https://api.frankfurter.dev/v1/latest?from=USD&to=JPY
- https://bitcointreasuries.net/
Figures are compiled from public disclosures and may lag. This page is information, not investment advice or a recommendation regarding 3189 securities.