Metaplanet has completed an early cash repayment of its ¥8 billion 20th Series of Ordinary Bonds, freeing an equivalent amount for Bitcoin purchases and accelerating its dual capital-allocation strategy. The bonds, which carried no interest and were held by EVO FUND, had been due on April 23, 2027.
According to the company's November 2, 2026 disclosure to the Tokyo Stock Exchange, adding the freed ¥8 billion to the ¥25.4 billion planned Bitcoin purchase line brings the financing to ¥33.4 billion, while the overall total remains ¥37.1 billion.
In a separate disclosure, Metaplanet said it had spent ¥25.27 billion ($160 million) repurchasing 96,447,400 common shares between October 14 and October 31, representing roughly 7.1% of outstanding shares. This uses about 42% of the ¥60 billion buyback authorization approved on October 13, 2026. The purchases were executed through Tokyo Stock Exchange ordinary market transactions and off-auction repurchases via ToSTNeT-3, with an average price near ¥262 per share.
Metaplanet's stock closed at ¥250 on November 2, up 2.46%, but its US-listed MTPLF shares were down nearly 10% on the day, according to Google Finance. CEO Simon Gerovich emphasized that future capital allocation would prioritize Bitcoin per share, stock price, mNAV, and market conditions.
“We will continue to allocate capital with discipline, focused on maximizing bitcoin per share and taking into account our share price, mNAV and market conditions,” Gerovich said.
Metaplanet held 44,000 BTC as of September 30, with an average cost basis near $99,000 per token, while Bitcoin traded around $78,000 on November 2. The company also said the ¥52 billion in zero-coupon convertible bonds due 2031 will not be used for BTC purchases, but to repay Bitcoin-backed loans and fund stock buybacks. Metaplanet did not exercise any of its 27th series rights in October, leaving 947,300 still outstanding.
