Metaplanet Launches 13% Share Repurchase Plan Backed by $500M Credit Facility

Metaplanet Launches $500M Credit-Backed Share Buyback to Boost Capital Efficiency
October 28, 2025

Metaplanet (3350), Asia’s largest publicly listed Bitcoin (BTC) holder, announced a major share repurchase program covering 13% of its stock, aimed at enhancing shareholder value and improving capital efficiency.

The Tokyo-listed company said it plans to buy back up to 150 million common shares, a move designed to optimize its balance sheet and maximize BTC yield — the rate of Bitcoin accumulation per share — particularly when its market valuation trades below 1.0x net asset value (NAV).

Metaplanet currently holds 30,823 BTC, valued at approximately $3.5 billion, making it one of the most prominent corporate Bitcoin holders in Asia. To support the program, the company has secured a $500 million credit facility backed by its Bitcoin reserves. The funds may be used for share repurchases, additional Bitcoin purchases, or other strategic investments. The buyback window runs from October 29, 2025, through October 28, 2026.

The firm reaffirmed its long-term goal of acquiring 210,000 BTC by the end of 2027, despite recent market turbulence. “We remain steadfast in our long-term objective,” Metaplanet said in a statement. “However, amid heightened market volatility and a decline in our mNAV ratio — which measures enterprise value relative to the market value of BTC holdings — our share price does not currently reflect our intrinsic economic value.”

The buyback program represents 13.13% of Metaplanet’s outstanding shares (excluding treasury stock), with an estimated total value of ¥75 billion (approximately $495 million).

Following the announcement, Metaplanet shares rose 2% to 499 yen, reflecting investor optimism around the company’s capital management strategy and continued Bitcoin accumulation.

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