Japan’s Metaplanet Issues $13 Million Bond Round to Boost Bitcoin Reserves
Tokyo, Japan – April 1, 2025 – Metaplanet Inc. (Tokyo Stock Exchange: 3350 / OTCQX: MTPLF), a publicly listed Bitcoin treasury company in Japan, has announced a major move to expand its Bitcoin portfolio. On March 31, Metaplanet’s board of directors approved the issuance of $13.3 million in zero-coupon bonds, with a clear goal: to accumulate more Bitcoin.
Metaplanet Bets Big on Bitcoin with Zero-Coupon Bonds
Metaplanet has confirmed that the proceeds from its 10th series of regular bonds will be used entirely to purchase Bitcoin. The latest issuance is worth 2 billion Japanese yen (about $13.3 million) and is fully subscribed by EVO FUND, a digital asset-focused investment fund specializing in structured finance and capital support for blockchain companies.
This is not the first time Metaplanet has pursued this strategy. On January 28, the company announced plans to raise capital through a share repurchase option to expand its Bitcoin reserves. Most recently, on March 23, Metaplanet purchased an additional 150 BTC, bringing its total Bitcoin holdings to 3,350 BTC.
Bond Issue Details
According to the announcement, the bonds will have a zero coupon and be repaid at full face value on September 30, 2025. Each bond is worth 50 million yen. EVO FUND has the right to request early redemption with at least one business day's notice.
In addition, Metaplanet may redeem portions of the bonds if the capital raised from the Series 14 to Series 17 equity offerings reaches a multiple of the bond value. In this case, the redemption will take place on the next trading day or on a later date as agreed.
Long-term financial and strategic impact
The bonds do not require collateral or guarantees and do not require management under the Japanese Companies Act. Payment management will be performed directly by Metaplanet from its Tokyo headquarters.
The company assesses the financial impact of this move as limited:
"The issuance of these bonds is expected to have a minimal impact on the company's consolidated financial results for the fiscal year ending December 2025."
However, the move reflects Metaplanet's long-term commitment to transitioning from the traditional treasury model to Bitcoin. If this strategy is successful, the company could become the ''MicroStrategy of Japan'', a business focused on Bitcoin as a strategic asset.