Categories: Crypto

In Japan’s First, Remixpoint CEO Salary Fully Shifted to Bitcoin



Japanese energy firm Remixpoint has announced it will pay its President and CEO’s entire executive compensation in Bitcoin. This marks the first time a listed company in Japan has chosen to do so.

The step is part of Remixpoint’s aim to implement “shareholder-oriented management” by ensuring that management shares the same economic fate as shareholders.

Bitcoin-Only Pay for Its CEO

The company highlighted that its share price often moves in close correlation with Bitcoin’s price, and paying the CEO in Bitcoin will align incentives while sharing economic risks and rewards with shareholders.

Remixpoint noted that at its recent general shareholders’ meeting, investors offered feedback wherein they urged management to approach corporate decisions from a shareholder’s perspective by holding shares.

However, due to insider trading restrictions and other limitations faced by listed companies in Japan, acquiring and holding company shares in a timely manner can be challenging for management. As an alternative, paying the CEO in Bitcoin allows the company to build a system where economic value can be shared with shareholders while supporting its strategy of combining crypto assets, energy, and Web domains to create new corporate value.

Technically, the payment will be made in Japanese yen, in line with the Companies Act and tax requirements. The same amount of Bitcoin will then be purchased at market price and transferred to a cryptocurrency wallet designated by the CEO.

As a result, the exec will effectively receive his entire compensation in Bitcoin. The company views this decision as a new approach to financial and treasury management based on crypto assets while taking on the challenge of next-generation corporate strategy.

“In the Same Boat”

Commenting on the development, Remixpoint CEO Yoshihiko Takahashi, said

“As CEO, my decision to receive all of my compensation in Bitcoin is a declaration of my intention to be “in the same boat” as our shareholders. We take responsibility for increasing corporate value and will do our utmost to manage the company from a shareholder perspective.”

The executive also added that they will continue tackling the challenge of developing next-generation financial strategies and treasury management grounded in crypto assets.

Remixpoint’s move comes as part of a broader trend in Japan, where more companies are turning to Bitcoin as part of their corporate strategies. Game developer Gumi recently announced it would hold a Bitcoin raffle for new shareholders, while firms such as Value Creation, Metaplanet, and SBC Medical Group have added Bitcoin to their balance sheets.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!



Source link

Adam Forsyth

Share
Published by
Adam Forsyth

Recent Posts

Lamborghini and Wilder World Collaborate on New Temerario GT3 and Fast ForWorld Expansion

The emblematic sports car brand, Automobili Lamborghini, announced the first major metaverse expansion of its…

35 minutes ago

Grok Is Spewing Antisemitic Garbage on X

Grok’s first reply has since been “deleted by the Post author,” but in subsequent posts…

43 minutes ago

Phantom puts perps in traders’ pockets as mobile-first derivatives go live

Perpetual futures see over $100 billion in daily trading volume, yet most platforms still cater…

2 hours ago

Rivian spinoff Also raises another $200M to build e-bikes and more

Also Inc., the micromobility startup spun out of Rivian earlier this year, has raised $200…

2 hours ago

Bitcoin and Ether ETFs Open the Week With Strong Inflows

Bitcoin ETFs kicked off the week with a healthy $217 million in net inflows, continuing…

2 hours ago

ProShares’ XRP futures ETF listed on DTCC under ticker UXRP

Key Takeaways ProShares' Ultra XRP ETF has been listed on the DTCC under ticker UXRP,…

3 hours ago