Japan-listed company WIZE bought an additional 100 million yen (about 940 million won) worth of Solana, increasing its total holdings to more than 30,000 SOL.

On May 27 (local time), blockchain media outlet CoinPost reported that WIZE filed a disclosure that day saying it newly acquired Solana.

With the purchase, the cumulative acquisition amount under WIZE's Solana treasury business reaches about 600 million yen (about 5.7 billion won). Including staking rewards, total holdings in the business that began on Oct. 24, 2025 stand at 32,133 SOL. The company executed the purchase ahead of the funding-use policy it disclosed on May 15.

WIZE explained it increased the purchase size more than usual after judging that recent cryptocurrency prices are in an undervalued range. As a result, the average purchase price based on total holdings fell to 18,672 yen (about 175,700 won) per SOL from 20,327 yen (about 190,000 won).

However, the valuation of its holdings is below the acquisition cost. As of May 26, the valuation of WIZE's holdings is estimated at about 430 million yen (about 4.047 billion won).

The company explains the profit structure of its Solana treasury business in two pillars. One is the asset value of the SOL it holds. When the SOL price rises, the valuation of the holdings increases directly. The other is recurring income generated from the holdings. WIZE said it secures about 6 to 7 percent a year in SOL through staking rewards and validator rewards.

It also disclosed operating metrics separately. The total amount of SOL operated by its validator, including external delegated volume, called the "WIZE Treasury", is currently about 123,000 SOL. The "WIZE Treasury Core", meaning the amount it holds directly, was presented at about 32,100 SOL. By combining direct holdings and externally delegated operations, the structure aims to pursue both asset holdings and network operation income.

Its scale of holdings in the market has also grown. In CoinGecko's Solana treasury holdings ranking, WIZE is currently estimated at around 15th in the world. As listed companies move to include Solana as a financial asset, WIZE is increasing both its holdings and operated volume at the same time.

Still, staking and validator rewards do not fully offset price volatility risk. Even if 6 to 7 percent a year in SOL rewards accumulates, the valuation can keep falling if the SOL price drops further. Ultimately, WIZE's treasury strategy is structured to deliver results only if additional purchase prices, whether the SOL price recovers, and the pace of accumulated operating rewards align together.

WIZE's policy is to continue buying while watching market conditions. The company said, "We will lower the average purchase price early to a level below the market price." As a result, the pace of additional purchases, Solana's price trend and the accumulated amount of staking rewards remain variables that will determine the performance of WIZE's treasury business.