Japanese energy firm Remixpoint has announced it will pay its President and CEOs 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 Remixpoints 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 Bitcoins 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 shareholders 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.

Remixpoints 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.