Tokyo-listed mobile-game maker enish (TSE: 3667) will buy up to ¥100mn of the crypto asset SOL (Solana) within one month of an August 26 board resolution, the first planned purchase under a digital asset treasury programme it outlined in June. The company said the actual quantity and price it ends up paying will depend on market conditions during the buying window.
The purchase draws on a larger commitment. enish plans to spend ¥640mn of proceeds raised through an April 2026 private placement of stock acquisition rights and unsecured bonds on SOL purchases between August 2026 and February 2027. Custody and trading will run through two licensed domestic exchanges, SBI VC Trade and Coincheck, with holdings split across both. Management says it will hold the SOL outright, without staking or lending it.
The accounting detail matters as much as the purchase itself. enish will mark its SOL holdings to market at each quarter-end and fiscal year-end, running the difference from book value straight through profit and loss. That means earnings for the year to December 2026 will carry crypto-price volatility as a line item, not a footnote.
enish paired the purchase cap with several guardrails: daily mark-to-market checks, position and liquidity limits, a loss-control trigger that halts trading once losses hit a set threshold, and a split between the management division that executes trades and an internal audit function that monitors them. Every purchase or sale decision still needs board approval. What enish has not disclosed is how much SOL it will actually end up holding, or at what price, since both depend on the market over the coming month.