Metaplanet Shareholders Cast Votes on Pivotal Bitcoin Strategy Funding

Metaplanet JP3481200008

Investors in Metaplanet are concluding a critical voting period today, with an extraordinary general meeting scheduled for December 22. The assembly will determine the approval of new financial instruments designed to fuel the company's aggressive Bitcoin acquisition strategy. The market is watching closely to see if the proposed capital structure can realistically support the firm's ambitious growth targets.

The strategic shift towards Bitcoin received substantial validation from the company's third-quarter 2025 results. The published figures reveal a dramatic financial improvement:

• Revenue: 4.3 billion JPY (representing approximately 1,700% growth year-over-year)
• Net Income: 12.66 billion JPY
• Market Position: A solidified role as one of Asia's leading corporate Bitcoin holders

This performance demonstrates that the company's strategic pivot is already translating into significantly higher revenue and substantial net profit, moving beyond mere expectations.

Key Proposals for Flexible Capital Raising

The agenda for the December 22 meeting centers on proposals intended to provide flexible funding without causing immediate, significant dilution for existing common shareholders. The primary items for a vote are:

• The creation of Class A preferred shares (MARS)
• The creation of Class B preferred shares (MERCURY)

These instruments are framed as essential components for financing the continued accumulation of Bitcoin. CEO Simon Gerovich has characterized the proposals as fundamental to building medium- and long-term corporate value.

Institutional Endorsement from Major Investor

Metaplanet has secured notable institutional backing for its plans. Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund managing approximately $1.7 trillion in assets, has voted in favor of all management proposals.

This support carries several implications:

• It signals confidence in the specific treasury strategy focused on Bitcoin.
• It indicates growing institutional acceptance of the company's transition from a traditional hotel business to a balance sheet heavily oriented toward Bitcoin.
• The approval from a large investor typically viewed as conservative serves as a positive reference point for other market participants.

Ambitious Bitcoin Roadmap Toward 2026

The company has outlined a clear objective: to expand its Bitcoin holdings to 100,000 BTC by the end of 2026. Achieving this goal necessitates a substantial scaling of its commitment and relies on the availability of adaptable financing options. The proposed MARS and MERCURY preferred shares are considered prerequisites to execute this accelerated Bitcoin accumulation at the desired pace.

As the voting deadline passes today, market attention turns to the final tally ahead of the December 22 meeting. The share price, currently trading around 440 JPY and showing relative stability before the event despite prior volatility, is anticipated to react sharply to the outcome. The direction of that move will hinge on whether shareholders grant the capital structure required to advance the Bitcoin strategy.