Overview
- The board authorized a ¥75.4 billion repurchase of up to 150 million shares, about 13.1% of the float, to be executed on the Tokyo Stock Exchange from October 29, 2025 to October 28, 2026 under a discretionary agreement.
- Funding comes from a $500 million credit facility secured by the company’s Bitcoin, with flexibility to finance buybacks, additional BTC acquisitions, BTC income ventures, or bridge financing ahead of preferred-share issuances.
- A new capital allocation policy targets maximizing BTC Yield, pauses common equity issuance when mNAV is below 1.0x, and emphasizes disciplined use of preferred stock.
- Metaplanet holds 30,823 BTC, positioning it as Asia’s largest public Bitcoin holder and fourth-largest globally, and it reaffirmed its goal of 210,000 BTC by 2027.
- The announcement sparked an intraday share uptick before retracing, and coverage notes sector-wide premium compression and financing scrutiny across Bitcoin treasury firms.