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BitArg denies reports of Yahoo! Japan buying 40 percent of its shares

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BitARG, a Tokyo-based exchange company, refutes news reports that YJFX, a subsidiary of Yahoo! Japan which operates foreign exchange transactions services, was set to buy a 40 percent stake in the company next month.

The report originally appeared on Nikkei Asian Review and was shared by many news outlets. Nikkei reported that the partnership had been reported to Japan’s Financial Services Agency (FSA).

Yoon Hee Yuan, bitARG representative director, said in a notice posted on the company’s website (see below) that the exchange has not agreed to any deals.

Using Google Translate, the post reads as follows:

“Based on the recent environmental changes surrounding the virtual currency industry, we are studying various possibilities, including capital and business tie-ups with other companies, in order to further strengthen the system, but we decided at the present time there is nothing we did,” Yuan said.

“We will respond promptly when deciding the facts to be announced in the future.”

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