Metaplanet, a Japanese public company, has revealed that it has issued 2 billion JPY in zero-interest ordinary bonds. The firm said it will use the issued funds to buy additional Bitcoins.
The company’s latest issuance was its seventh series of 0% ordinary bonds worth approximately $13.4 million, with a maturity date of August 26, 2025. The firm’s board of directors made the decision, which is in line with Metaplanet’s previously announced fund allocation plan from January 28.
Metaplanet issues an additional 2B JPY in zero-interest ordinary bonds
Metaplanet Issues 2 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/8bIhIgeiDR
— Metaplanet Inc. (@Metaplanet_JP) February 27, 2025
Metaplanet has announced that it has raised 2 billion Japanese yen on February 27 to purchase more Bitcoins. The company detailed the specific use of the proceeds in its January 28 announcement titled “Notice Regarding the Issuance of the 13th to 17th Series of Stock Acquisition Rights (with Adjustable Exercise Price and Suspension Clauses) and the Execution of Stock Acquisition Rights Purchase Agreements.”
The firm said that the $13.4 million came through zero-interest, unsecured, and unguaranteed bonds. According to Metaplanet’s announcement, the funds were backed by the investment manager EVO Fund. The bond will also have a face value of 50 million JPY per bond.
The company said that the funds required for the repayment of the bonds will be secured through proceeds from the exercise of the 13th to 17th Series of Stock Acquisition Rights. The redemption date for the bonds has been scheduled for August 26, 2025.
The Japanese firm revealed that it plans to acquire 10,000 Bitcoins by Q4 2025, which would equate to around $957 million at current Bitcoin prices. Metaplanet added that it wants to increase its virtual currency holdings to 21,000 by the end of 2026. At current prices, the sum of the company’s funds would be valued at $2 billion.
The company’s plans hinted at aggressive Bitcoin buys in the coming months, as it held approximately 1,726 BTC as of January 28. Metaplanet said it will also include a financial adjustment, reducing the amount of yen used to purchase BTC from 111.3 billion yen ($723 million) to 107.3 billion yen ($701 million).
The Japanese firm emphasized that acquiring BTC is due to Japan’s challenging economic environment, “characterized by high debt levels.” The company also argued that prolonged real negative interest rates in Japan and the persistent depreciation of the yen led it to purchase Bitcoin.
At the time of publication, Metaplanet’s stock is exchanging hands at 4,010 yen, a 2,127% surge over the past 12 months. The firm’s stock market capitalization has also increased by over 7,000% during the same period since it adopted Strategy’s (formerly MicroStrategy) game plan. The surge in price was due to the company getting a 500% growth in shareholders, with 50,000 new people or entities investing in it.
Metaplanet also expects the bonds’ issuance to have a minimal impact on its consolidated financial results for the fiscal year ending December 2025.
Metaplanet adopts BTC gain as a key performance indicator
Metaplanet announced on February 26 the adoption of “BTC Gain” and “BTC Yen Gain” as additional key performance indicators to complement its existing BTC Yield KPI. The firm said that the new KPIs will enhance transparency in evaluating its Treasury operations. The KPIs will also provide the company’s shareholders with deeper insights into the accretive nature of its capital allocation approach.
“Metaplanet has introduced BTC Gain and BTC Yen Gain as additional KPIs alongside BTC Yield to provide deeper transparency into our Bitcoin Treasury strategy and capital allocation efficiency.”
–Simon Gerovich, CEO of Metaplanet.
The firm’s KPI represents the product of the number of BTC held by Metaplanet at the beginning of a given period and the Bitcoin Yield for that period. Metaplanet said that both metrics will provide shareholders with a clearer understanding of the company’s capital allocation efficiency. BTC Yield and BTC Yen Gain will also provide the firm’s shareholders with the accretive nature of its Bitcoin acquisition strategy.
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