Published
09/07/2025, 14:47The high-profile entry of Japanese company Liberty Exchange Japan onto the Kyrgyz Stock Exchange (KSE) in the summer of 2023 ended with an equally quiet departure. Today, its shares are no longer listed.
The company, which specializes in virtual currency exchange, started with a symbolic capital of 1,000 KGS. However, by the end of 2023, it had grown to 40.8 million KGS through the issuance of shares. Assets grew to 43.79 million KGS, and net profit amounted to 16.2 million KGS. At the start, Liberty Exchange Japan promised to attract up to 10,000 Japanese investors to the Kyrgyz economy, build an IT university in partnership with I. Arabayev Kyrgyz National University, and open a medical clinic.
However, by 2024, the situation had changed. The company's latest financial report, submitted in the second quarter, was literally empty — with no data on assets, liabilities, or other financial indicators. It is unknown when and why Liberty Exchange Japan's securities disappeared from the listing.
A similar story happened with another Japanese company, Metarise Japan, which was engaged in the wholesale trade of precious metals. Its shares were included in category “C” of the KFB listing in September 2023. Today, they are also not on the list, and the company's financial statements for the second quarter of 2024, as in the case of Liberty Exchange Japan, are completely empty.
Interestingly, both companies have a common link: their shareholder is the Titsurizu Joint Stock Company.
Thus, the loud statements by Japanese issuers about large-scale investments and projects in Kyrgyzstan have not been followed up with any real action.
