Metaplanet Announces ¥60B Share Buyback After Stock Falls 90% From Peak

Metaplanet authorized a ¥60 billion share buyback, worth approximately $380 million, following a 90% decline in its stock from its peak. Starting October 14, the program covers up to 200 million shares, or 14.7% of outstanding shares. The company will also issue ¥52 billion in convertible bonds due in 2031 to repay Bitcoin-backed loans. As of September 30, those loans totaled $649.5 million under an $800 million credit facility, equivalent to 17.7% of Metaplanet’s Bitcoin net asset value.