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Metaplanet Initiates 13% Share Buyback Program With $500M Credit Facility
The Tokyo-listed firm started a repurchase program for 13% of its stock to enhance shareholder value and optimize capital efficiency.
Updated Oct 28, 2025, 9:30 a.m. Published Oct 28, 2025, 9:15 a.m.
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What to know:
- Metaplanet can purchase up to 150 million common shares (13% of total) over the coming year.
- The program is backed by a $500 million BTC-collateralized credit facility, supporting both share buybacks and future bitcoin acquisitions.
Metaplanet (3350), Asia's largest publicly listed bitcoin holder, said it plans to repurchase as many as 150 million common shares to improve capital efficiency and maximize its BTC Yield (the rate of BTC increase per share) when the company’s market valuation falls below 1.0x of its net asset value.
The Tokyo-based company, which holds 30,823 BTC valued at approximately $3.5 billion, said Tuesday it established a credit facility of up $500 million secured by bitcoin to fund the share purchases, buy more bitcoin or be used for other investments. The program runs from Wednesday to Oct. 28, 2026.
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Metaplanet "remains firmly committed to its long-term objective of acquiring 210,000 BTC by the end of 2027," the company said. "However, we recognize that due to rising market volatility and a decline in mNAV (a multiple calculated by dividing the enterprise value by the market value of the BTC held by the company), our stock price currently does not adequately reflect our intrinsic economic value."
The repurchase program represents 13.13% of total shares (excluding treasury shares), for a total allocation of approximately 75 billion yen ($495 million.
Metaplanet shares rose 2% to 499 yen.
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