Mac House changes its company name to "G-ET" - A clear transition from "clothing to Bitcoin" | CoinDesk JAPAN

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Mac House changes its name to "G-ET" - A clear shift from "clothes to Bitcoin"

The national clothing chain Mac House announced on August 6 that the board of directors has resolved to submit a proposal to the extraordinary shareholders' meeting to change its trade name to "Gyet Co., Ltd." (English notation: Gyet Co., Ltd.).

It is planned to transition to the new business name starting September 18 of the same year, pending approval at the shareholders' meeting scheduled for September 17, 2025.

According to the company, the purpose of this name change is to eliminate the image of a company limited to apparel and to accurately reflect the promotion of new businesses, including the Bitcoin treasury strategy.

At the same time as the change of the company name, we will also partially amend the articles of incorporation to respond to the diversification of business activities and add numerous items to the business objectives.

Specifically, it was stated that services for the acquisition, holding, trading, operation, management, and settlement of crypto assets, mining operations, and operational businesses such as staking and lending are introduced.

According to the announced growth strategy diagram, cash flow generated from brand operations and other activities will be invested in a "crypto asset treasury" that holds Bitcoin and other cryptocurrencies. Furthermore, there are clear plans to expand into mining, staking, and lending businesses based on data centers.

It was also resolved to change the total number of authorized shares from the current 31 million shares to 90 million shares in preparation for future business expansion.

In addition, the company announced on the same day that it expects to raise approximately 2.35 billion yen through the issuance of the 11th stock acquisition rights allocated to EVO FUND.

The raised funds will be allocated to the cryptocurrency business. Specifically, approximately 1.3 billion yen will be used for the purchase of Bitcoin and other assets, and about 1.05 billion yen will be used as investment funds for mining operations.

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