In an official statement Tech Bureau (TB), a blockchain company headquartered in Osaka, and Dragonfly Pte. Ltd. (DF), a Singapore-incorporated financial technology company, have clarified that their resources – product names, names of officers, trademarks, materials, confidential information, and business plan – are not under the control of a Japanese company Akitsu, Co, Ltd.

The companies said that they recently came to know that Akitsu had been operating operating commercial and fund-raising activities using the resources of Dragonfly and Tech Bureau, without their knowledge and permission.

“This could have misled some people into believing that the Resources of DF and TB were under the control of Akitsu, when in fact that wasn’t the case”, the statement added.

The statement, jointly issued by DragonFly CEO Lon Wong and Tech Bureau CEO Takao Asayama, further stated that the companies did not make any commitment to release their resources nor authorized the usage of their trademarks to Akitsu, adding they have no capital ties nor any sort of relation with Akitsu.

Established this January, Akitsu was dissolved on Feb. 2nd. 2016, and its founders have since incorporated a new company by the name of Soramitsu Co., Ltd (Soramitsu) on Feb. 5th. Tech Bureau and DragonFly said they have no relationship with Soramitsu.

“Both DF and TB have been investigating the above matter, and have sufficient evidence to suggest that there was possibly a breach of confidentiality, misinformation, or misfeasance. We shall continue to investigate and gather more evidence”, the statement read. “We apologize that we had to make a such statement since this matter has caused considerable misunderstandings and misinformation to our investors and customers. TB and DF are moving forward and doing our effort in solidarity to be a part of fintech revolution utilizing blockchain technology”.

Tech Bureau was recently in news as it raised $6.2 million through a third party allocation as part of the Series A round. In December 2015, Dragonfly Fintech signed a contract with the leading Japanese think tank and systems integrator Nomura Research Institute (NRI) in conjunction with the Japanese SBI Sumishin Net Bank, to assess a core component of DF's blockchain technology for financial use.