Metaplanet, a publicly listed digital asset investment firm based in Tokyo, has confirmed the early repayment of ¥8 billion in bonds, unlocking fresh capital for additional Bitcoin accumulation. The company is recognized as the largest corporate Bitcoin holder in Japan, with a strategy to increase its exposure to the cryptocurrency through a series of targeted purchases and financial maneuvers.
Early bond repayment opens door for Bitcoin acquisition
On November 2, Metaplanet announced to the Tokyo Stock Exchange that it used its available cash to pay off its entire 20th Series of Ordinary Bonds before their scheduled maturity in April 2027. These bonds carried no interest and were primarily held by EVO FUND.
By settling this debt ahead of schedule, the company has now freed up an equivalent sum to devote toward its ongoing Bitcoin accumulation program. Combining this ¥8 billion with an existing ¥25.4 billion line earmarked for Bitcoin purchases has increased the available financing for the initiative to ¥33.4 billion. The company has maintained its overall target of ¥37.1 billion for the initiative.
Metaplanet’s recent action has released significant liquidity, allowing the firm to allocate more resources for expanding its Bitcoin holdings.
Separately, the company clarified that it did not utilize its 27th series stock acquisition rights in October, with 947,300 rights still outstanding. The increased allocation toward Bitcoin remains part of a planned initiative, rather than funds already deployed.
Share buybacks reach 42% of allowable limit
Metaplanet’s board approved a substantial stock repurchase program on October 13, with authorization to buy back up to ¥60 billion of its own shares, or as many as 200 million shares, by October 2027.
According to its most recent disclosures, Metaplanet invested ¥25.27 billion in repurchasing 96.4 million shares between October 14 and October 31, representing 42% of its approved buyback capacity. On the first day of the program, the company spent ¥19.31 billion to acquire nearly 74 million shares at ¥261 each.
| Repurchase Date | Shares Bought | Amount Spent | Share Price |
|---|---|---|---|
| October 14, 2026 | 73,980,000 | ¥19.31 billion | ¥261 |
| October 14–31, 2026 | 96,447,400 | ¥25.27 billion | – |
Deleveraging and convertible bond strategy
Metaplanet’s CEO, Simon Gerovich, outlined a broader deleveraging strategy, combining share buybacks and bond repayments. The company is raising ¥52 billion through zero-coupon convertible bonds set to mature in October 2031. Gerovich confirmed that proceeds from these convertible bonds will not be allocated to Bitcoin purchases but will instead be used to pay back Bitcoin-backed loans and fund further buybacks.
Metaplanet currently holds approximately 44,000 BTC with an average acquisition price near $99,000 per token, while the market price is closer to $78,000 as of November 2. The reallocated ¥8 billion applies specifically to the stock acquisition rights pool, separate from the larger convertible bond operation.
Mini dictionary: EVO FUND – EVO FUND is an investment firm that specializes in alternative assets, including bonds and equity, often participating in financing rounds for corporate strategies in Japan.
Metaplanet is also monitoring the upcoming MSCI announcement on November 11 to learn whether it and US-based software firm MicroStrategy might be removed from MSCI’s global equity benchmarks, a major international index provider.
Recent market reaction to Metaplanet’s disclosures has been subdued, with the MTPLF share price falling by nearly 10% in a single day, based on Google Finance data.
