[Japanese Apparel Company ANAP Posts ¥4.37 Billion Loss on Bitcoin Holdings, No Sell-Off] According to a report by TokenPost cited by Jinse Finance on October 18, Japanese apparel company ANAP recorded a ¥4.37 billion valuation loss on its Bitcoin holdings for the fiscal year ending August 31, 2026, compared to a ¥1.22 billion gain in the same period last year. The company's net loss expanded to ¥7.323 billion, approximately 2.8 times that of the previous year. As of August 31, ANAP held 1,432.16 Bitcoins valued at ¥17.976 billion, with no sell-off during the period. Under Japanese accounting rules, cryptocurrencies with active markets are revalued quarterly and reflected in profit and loss, though this does not constitute a cash outflow. The financial report indicates that the company has incurred losses for seven consecutive fiscal years and highlights significant uncertainty regarding its ability to continue as a going concern. On September 30, the company completed a debt-to-equity restructuring, converting ¥3.6 billion in loans into 72 million common shares and ¥4 billion into non-voting preferred shares.