Japanese version MicroStrategy Metaplanet strikes again: raising 130 billion yen through international capital increase, fully doubling down on Bitcoin

Metaplanet Inc. (8/27) announced the issuance of new shares through international capital increase, aiming to raise up to 130.3 billion yen in the short term, with nearly 95% being used directly to purchase Bitcoin. This company, listed on the Tokyo Stock Exchange, has actively transformed into a "Bitcoin treasury company" in recent years, and this issuance intends to expand its Bitcoin asset scale and strengthen the link with international institutional investors.

Strategic Layout Under Economic Transformation: Why Choose Bitcoin?

Metaplanet stated that the current global economy is facing a structural transformation in the supply system and financial order, including rising geopolitical risks, increasing government bond yields, changes in trade policies, and other issues, which undermine the safe-haven status of traditional assets. Against this backdrop, the scarcity, decentralization, and low-cost cross-border transfer characteristics of Bitcoin make it the core of the company's long-term asset allocation.

Since April 2024, the company has positioned Bitcoin as a medium to long-term store of value, rapidly accumulating a large amount of BTC through multiple capital increases. As a "Bitcoin Treasury Company", Metaplanet has not only established market trust but also verified the high liquidity of its stocks.

Issuance details: A maximum of 555 million ordinary shares can be issued at one time.

Metaplanet plans to issue up to 555 million common shares, divided into:

180 million shares were directly subscribed by the underwriters.

Up to 375 million shares for additional issuance based on market demand.

The issuance will primarily focus on the international market (excluding the domestic market of Japan), with the U.S. portion sold only to qualified institutional investors. If the proposal to "increase the total number of authorized shares" is approved at the shareholders' extraordinary meeting on September 1, the capital increase issuance will proceed at the maximum scale; otherwise, it will be limited to the current authorized share count.

Important schedule and pricing method

Price range: From September 9 to 11, 2025, the price will be determined by the underwriters based on the book-building process.

Payment date: According to the pricing date falling between September 16 and 18.

Delivery Date: Payment Date is one business day apart

Subscription unit: 100 shares

The final issuance price and the amount of capital increase shall be determined by the representative director Simon Gerovich or his authorized representative.

Fundraising purpose: unlimited Bitcoin purchases, additional BTC earnings business

This international capital increase is expected to net approximately 130.3 billion yen, and the funds will be used for two main directions:

1. Purchase Bitcoin (123.8 billion yen)

Metaplanet plans to invest over 100 billion yen in increasing its Bitcoin holdings between September and October 2025, in response to Japan's long-term negative interest rates and the risk of yen depreciation. As of August 25, 2025, Metaplanet has held 18,991 Bitcoins, with a market value of 314.6 billion yen, making it a rare large holder among Japanese companies.

2. Expand Bitcoin earnings business (6.5 billion yen)

The company has converted its BTC holdings into a source of income by selling put options and other methods. In the second quarter of 2025, it recorded sales revenue of 1.9 billion yen. Part of the funds raised will be used to expand the margin size to support this business until December 2025.

Targeting Global Capital: Institutional Investors Are the Key to the Future

Metaplanet points out that international institutional investors not only provide stable long-term funding but also help enhance the company's international reputation, market valuation, and liquidity. Therefore, the company hopes to strengthen its link with the global capital market through this overseas capital increase, laying a more solid financial foundation for future development.

Lockup provisions and other restrictions

To stabilize the market, representative director Simon Gerovich and major shareholder MMXX Ventures have committed not to sell their shares within 60 days from the delivery date. In addition, Metaplanet also guarantees that no new issuance of shares or similar operations will be conducted during this period, unless written consent is obtained from the underwriter.

This article discusses the Japanese version of MicroStrategy Metaplanet making a move again: raising 130 billion yen through international fundraising, fully doubling down on Bitcoin, which first appeared in Chain News ABMedia.