Japanese investment firm Metaplanet announced plans to issue zero-coupon convertible bonds due in 2031 for 52 billion yen ($329 million), according to its official corporate disclosure document.
The transaction provides interest-free funding over a five-year maturity window. Management intends to allocate approximately 23.6 billion yen ($149 million) of the proceeds to extinguish bank liabilities secured by Bitcoin collateral.
Capital allocation and stock repurchase program
The company plans to deploy 28.3 billion yen ($179 million) directly into open-market share buybacks. The allocation forms part of an authorized repurchase framework designed to reach up to 60 billion yen ($380 million) in total value.
The refinancing follows an earlier strategic shift under which the board resolved to allocates up to 15% assets toward Bitcoin accumulation initiatives and shareholder distributions, avoiding collateral liquidations during market drawdowns.
Treasury holdings and performance in Tokyo
According to tracking data compiled by market monitors, the company retains 44,000 Bitcoin in treasury, an asset base valued at $3.6 billion that ranks the Japanese entity second globally among public corporations holding the asset.
At the close of trading in Tokyo on Tuesday, October 13, 2026, Metaplanet shares declined 1.5%, based on historical equity figures published by Yahoo Finance for 3350.T.
The equity has recorded a 52.6% decline over twelve months. The downward trajectory coincided with shareholder pushback over dilutive executive compensation packages implemented during the third quarter.
Following criticism over expansion of its Series 10 stock option pool, the corporation formally cuts 131 million shares from the potential dilution base, reducing option rights from 319.46 million down to 188.19 million.
This article is for informational purposes only and does not constitute financial advice.
