Japanese technology company Metaplanet Inc. has announced plans to raise $10 million through its 11th Series of Ordinary Bonds specifically for the purpose of acquiring more Bitcoin. The company, listed on the Tokyo Stock Exchange under the standard 3350, made this announcement through an official notice dated April 16, 2025.
JUST IN: 🇯🇵 Metaplanet to raise $10 million to purchase more #Bitcoin pic.twitter.com/0ZDDYMvdF7
— Bitcoin Magazine (@BitcoinMagazine) April 16, 2025
Bond Issuance Details
According to the notice, Metaplanet’s Board of Directors approved the bond issuance on April 15, 2025. The company will issue these zero-interest bonds to EVO FUND, designated as the sole bondholder. Each bond carries a face value of $250,000, with the total issuance amounting to $10 million.
The bonds come with several distinctive characteristics:
- Zero interest rate, departing from traditional corporate bond structures
- Six-month maturity period, with redemption scheduled for October 14, 2025
- Face value redemption at USD 1 for every USD 1 of bond face value
- Flexible early redemption provisions allowing the bondholder to request redemption with just one business day’s notice
- Additional redemption triggers tied to the exercise of Stock Acquisition Rights
Also Read: Metaplanet Adds 696 Bitcoin to Its Treasury, Bringing Total Holdings to Over 4,000 BTC
Strategic Bitcoin Investment Initiative
This $10 million bond issuance represents a calculated step in Metaplanet’s broader cryptocurrency investment strategy. The company has explicitly stated that proceeds will be used for Bitcoin purchases, signaling strong confidence in the digital asset’s future value proposition.
The current issuance appears to be part of a comprehensive financial framework that Metaplanet began constructing in early 2025. The notice references a January 28, 2025 announcement regarding the “13th to 17th Series of Stock Acquisition Rights with Adjustable Strike Prices and Suspension Clauses,” indicating that the company has been methodically developing multiple financing channels to support its Bitcoin acquisition objectives.
Financial Engineering Structure
The redemption mechanism for these bonds reveals sophisticated financial engineering. Metaplanet plans to secure funds for bond redemption through the exercise of its 14th to 17th Series of Stock Acquisition Rights. This creates an interesting financial loop:
- Bonds are issued to raise capital for Bitcoin purchases
- Stock rights are exercised to generate cash flow
- Cash from stock rights is used to redeem bonds
This structure suggests that Metaplanet is leveraging equity-linked instruments to finance its cryptocurrency investments while maintaining flexibility in its capital structure.
Market Context and Corporate Trend
Metaplanet’s move aligns with an emerging trend among publicly traded companies worldwide that view Bitcoin as a strategic treasury asset and inflation hedge. Following pioneers like MicroStrategy in the United States, Japanese corporations are beginning to explore cryptocurrency allocations as part of their financial strategy.
What makes Metaplanet’s approach particularly notable is:
- Direct Bitcoin Purchase Intent: Unlike companies that might invest in cryptocurrency-related businesses or infrastructure, Metaplanet has explicitly stated its intention to purchase Bitcoin directly.
- Zero-Interest Financing: The decision to issue non-interest-bearing bonds suggests that both Metaplanet and EVO FUND (the bondholder) anticipate that Bitcoin appreciation will provide returns that exceed traditional fixed-income yields.
- Public Market Transparency: As a TSE-listed company, Metaplanet’s Bitcoin investment strategy will be conducted with full disclosure requirements, providing a transparent case study for cryptocurrency integration into corporate treasuries.
Japanese Regulatory Environment
This development occurs within Japan’s relatively progressive cryptocurrency regulatory framework. The Japanese Financial Services Agency (FSA) has established clear guidelines for cryptocurrency operations, and the country was among the first major economies to recognize Bitcoin as legal property under the Payment Services Act.
Metaplanet’s ability to issue bonds specifically for Bitcoin acquisition indicates that the company has likely navigated any regulatory considerations regarding corporate cryptocurrency holdings in Japan.
Corporate Leadership and Vision
The notice identifies Simon Gerovich as Metaplanet’s Representative Director, with Miki Nakagawa serving as IR Director. This leadership team appears to be positioning the company at the intersection of traditional finance and digital assets, potentially seeking to capture value from both domains.
The decision to pursue significant Bitcoin investments suggests that Metaplanet’s management has a strong conviction about cryptocurrency’s long-term value proposition, despite the asset class’s notorious volatility.
As more corporations worldwide explore cryptocurrency allocations, Metaplanet’s structured financing approach provides an interesting template for how publicly traded companies can integrate digital assets into their financial strategy while maintaining appropriate governance and disclosure standards.
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