Metaplanet has freed up additional financial capacity for its Bitcoin accumulation strategy after retiring ¥8 billion in bonds ahead of schedule.
The Japanese company continues to adjust its financing structure while managing its growing Bitcoin treasury.
Meanwhile, its share buyback program has already used a significant portion of its approved capital. The latest disclosures highlight how Metaplanet is balancing Bitcoin purchases, debt repayment, and shareholder returns.
Metaplanet retires ¥8B bonds to free funds for Bitcoin
Metaplanet (TYO: 3350) confirmed on November 2, 2026, that it had repaid its entire ¥8 billion in outstanding 20th Series Ordinary Bonds. The company used available cash to settle the debt before its scheduled April 23, 2027, maturity date.
The bonds carried no interest and were held by EVO FUND. Their early repayment allows Metaplanet to redirect an equivalent amount toward its Bitcoin financing strategy.
According to the company’s Tokyo Stock Exchange disclosure, the additional ¥8 billion increases its planned Bitcoin purchase financing line. Combined with the existing ¥25.4 billion allocation, the available financing rises to ¥33.4 billion.
However, the overall financing total remains unchanged at ¥37.1 billion. The latest allocation reflects a restructuring of funding sources rather than an increase in the company’s total planned financing.
Metaplanet also disclosed that it did not exercise any rights under its 27th Series stock acquisition rights during October. The company reported that 947,300 rights remained outstanding.
Consequently, the expanded Bitcoin financing capacity does not mean Metaplanet has already deployed the funds. The disclosure outlines its funding plans rather than completed Bitcoin purchases.
Metaplanet share buybacks reach 42% of approved capital
Alongside its Bitcoin financing plans, Metaplanet continues executing its share repurchase program. The company’s board approved the initiative on October 13, 2026, with a maximum allocation of ¥60 billion.
The program allows Metaplanet to repurchase up to 200 million shares through October 13, 2027. Its latest filing shows that the company spent ¥25,269,031,500 between October 14 and October 31.
During that period, Metaplanet acquired 96,447,400 shares. This represents approximately 42% of its approved buyback capital.
The company began repurchasing shares aggressively on October 14. It spent approximately ¥19.31 billion to acquire 73.98 million shares at an average price of ¥261 each.
The October purchases demonstrate the pace at which Metaplanet has deployed capital under the program. However, substantial room remains within the approved ¥60 billion allocation.
Metaplanet separates debt repayment from Bitcoin purchases
Metaplanet’s latest bond repayment forms part of a broader financing and debt management strategy. CEO Simon Gerovich previously clarified that the company’s planned ¥52 billion raise through zero-coupon convertible bonds would not finance additional Bitcoin purchases.
The convertible bonds mature on October 29, 2031. Instead, Metaplanet intends to use the proceeds to repay Bitcoin-backed loans and finance further share buybacks.
The company currently holds approximately 44,000 BTC, acquired at an average cost basis of nearly $99,000 per Bitcoin. However, Bitcoin traded closer to $78,000 on November 2, leaving its treasury position exposed to substantial unrealized losses.
The latest ¥8 billion allocation comes from the stock acquisition-rights financing pool. It remains separate from the convertible bond proceeds.
Meanwhile, Metaplanet faces another potential challenge on November 11. MSCI will publish its updated index list, confirming whether the company will leave its global equity benchmarks alongside Michael Saylor’s Strategy (NASDAQ: MSTR).
Market reaction to the latest disclosures remained negative. MTPLF shares fell nearly 10% during the session, according to Google Finance data.
