Mitsui, Based in Tokyo, Partners With Web3-Focused Animoca Brands

Mitsui, a Tokyo-based company known for its diverse business interests, has partnered with Animoca Brands, a Web3 technology company with a forward-looking approach. The collaboration combines Mitsui’s expertise with Animoca Brands’ Web3 focus on driving innovation and exploring new possibilities.

Web3 Revolution: Mitsui & Animoca Brands Transforming Japan’s Digital Landscape

Mitsui & Co Ltd, a Tokyo-based conglomerate with significant assets, has partnered strategically with Hong Kong-based Animoca Brands to meet Japan’s growing demand for blockchain. The two signed a memorandum of understanding to drive Web3 adoption in Japan. Investing strategically in Web3 development within the country is the goal of the collaboration.

Many Japanese businesses and governments focus on Web3 adoption to boost the economy. By taking advantage of the government’s cryptocurrency policies, Animoca Brands and Mitsui are promoting decarbonization and building infrastructure for well-being.

According to Animoca Brands,

Looking ahead, Mitsui and Animoca Brands will work together to provide solutions for societal issues by accelerating the development of their strategic partnership,  such as through the development of collaborative businesses and the establishment of joint ventures in diverse fields,

Furthermore, the Japanese government and Japan Business Federation are pushing for Web3 adoption to boost the economy. Utilizing the government’s cryptocurrency policy, Animoca Brands and Mitsui are building infrastructure for well-being and promoting decarbonization.

Animoca Brands: Leading the Way in Asia’s Web3 Revolution

Animoca Brands is a leader in the Web3 industry, especially in Asia. Over the last few years, they’ve invested in over 450 Web3 companies. Animoca Brands’ Web3 products include Colossal, Axie Infinity, OpenSea, NBA Top Shot by Dapper Labs, Yield Guild Games, Harmony, Alien Worlds, and Star Atlas.

Animoca Brands has expanded into crypto-friendly markets like Eastern Asia as US regulations tighten on digital asset firms. MUFG, Japan’s biggest bank, has also invested $22.5 million in the company.

Mitsui’s CEO, Kenichi Hori, is optimistic about Web3’s growth in Japan as it embraces blockchain technology. Consequently, Mitsui’s stock market surged 85% last year and another 49% this year, with shares trading around 5,744 on Tuesday. An analyst rating of “over” indicates that analysts are optimistic about the $8.23 trillion company.

With Berkshire Hathaway IncCl B (NYSE: BRK.B) investing in Mitsui and other Japanese tech companies, the relationship between American and Japanese tech companies is strengthening. The CEO and Chairman of Berkshire Hathaway, Warren Buffett, says Japanese stocks are undervalued right now. 

Mitsui is now one of Berkshire Hathaway’s top ten holdings.SoftBank Group and Sony are other Japanese tech companies Berkshire Hathaway has invested in.