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RVH to Launch Blockchain Business via Acquisitions

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RVH, a listed Japanese company for media and system development, acquired a majority stake in MinerGarage, a privately-held Japanese blockchain mining machine developer, for about JPY 30m (USD 270,000), according to its announcement.
The Tokyo-based RVH has a beauty salon business with female clients over 3 millions, and the acquisitions would help the company further expand its point-service business via cryptocurrency and blockchain technology by MinerGarage.
Established in 2017, MinerGarage’s main business includes mining machine development, along with the facility operation of mining machines.
RVH(6786) is listed on the second section of the Tokyo Stock Exchange and its market cap is about JPY 6bn.
RVH expects to post group sales of about 58bn for the year ending in March 2019.