TLDR
- Metaplanet bought back 96,447,400 of its own stock between October 14 and 31 for about $160 million.
- The purchases use about 48% of the 200 million cap and 42% of the ¥60 billion budget.
- CEO Simon Gerovich says the goal is to maximize bitcoin per share.
- The company also redeemed $50.7 million in bonds early.
- About $211.7 million is now available for bitcoin purchases.
Metaplanet (3350) bought back 96.4 million of its own stock between October 14 and October 31. The purchases cost about ¥25.27 billion, or $160.2 million.
The company disclosed the figures in a November 2 filing. Purchases ran through the Tokyo Stock Exchange, including off-auction trades on the ToSTNeT-3 system.
The buyback equals about 7.1% of issued stock. It also uses about 48.2% of the 200 million cap.
In money terms, Metaplanet has spent 42.1% of its ¥60 billion budget. That budget is worth about $380.4 million.
CEO Simon Gerovich confirmed the numbers in a November 2 post on X. He said the company will allocate capital “with discipline, taking into account the share price, mNAV, and market conditions.”
He said the goal remains “to maximize the value of bitcoin per share.” Gerovich did not say how much the buyback changed that metric.
How the Buyback Was Done
Analyst Dylan LeClair posted a breakdown on X the same day. He said about 73.98 million came from one ToSTNeT-3 deal on October 14.
Another 22.47 million were bought on the open market through October 31. Together, the two pieces match the filing.
LeClair’s post does not give the average price paid. The filing does not either.
The board approved the program on October 13. It runs from October 14, 2026, through October 13, 2027.
The 200 million cap equals about 14.7% of issued stock as of September 30. The company warned that some or all of the orders might not be executed.
Bonds and Bitcoin Funds
Metaplanet also redeemed ¥8 billion in bonds early, worth $50.7 million. It paid with cash on hand.
After changes in resource allocation, about ¥33.422 billion is now available for bitcoin. That is roughly $211.7 million.
On October 13, the company announced ¥52 billion in zero-coupon Euro-Yen convertible bonds. It said the aim was to cut bitcoin-collateralized leverage under its Project Nova strategy.
The filing does not link the buyback to that bond money. An earlier buyback of about $122 million, reported October 15, covers a different period.
Treasury holdings stood at 96,474,427 as of October 31, with 1,267,808,197 issued common stock outside treasury. The filing reports that figure separately from the 96,447,400 bought under the October 13 plan.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
