Mobcast HD Plans to Invest 500 Million Yen in Solana

Mobcast Holdings, listed on the Tokyo Stock Exchange Growth, announced on the 15th that it has decided to allocate 500 million yen out of a total of 550 million yen raised through third-party allotment capital increase to purchase Solana (SOL), with the remaining 50 million yen designated for development costs in its new cryptocurrency-related business, 'Solana Treasury Operations'.

Founded in 2004, Mobcast Holdings has primarily focused on mobile gaming, but in recent years, it has been diversifying its business domains.

On October 3, the company set forth objectives to 'maximize shareholder value and meet listing maintenance criteria', 'establish the next revenue engine', and 'explore future synergies with core businesses' as part of its strategic goals for the Solana Treasury...