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Crypto company aims to buy its way onto wary Tokyo Stock Exchange

Noah Ark's push to use Beat as virtual coin springboard puts bourse in a bind

The downtown Tokyo building where Beat Holdings has its Japan offices. The company is resisting what amounts to a purchase attempt by Hong Kong crypto company Noah Ark Technologies.
Beat Holdings maintains its Japan offices in downtown Tokyo. The company is resisting what amounts to a purchase attempt by Hong Kong cryptocurrency company Noah Ark Technologies.

TOKYO -- A Hong Kong-based cryptocurrency company seeks to essentially take control of a China-linked business listed on the Tokyo Stock Exchange, ringing alarm bells at a bourse that has steered clear of the risky virtual coin market.

The suitor, Noah Ark Technologies, proposed in June as a shareholder of Beat Holdings that the latter change its name to include "Noah Coin" -- a virtual coin the Hong Kong company launched this year -- and issue new shares and share acquisition rights so as to let Noah obtain voting rights of about 50%.

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