Cryptoupdated 46m ago2 min read
Archive photo · 30 October 2021Metaplanet Reports ¥27.157 Billion Net Loss as Bitcoin Valuation and Sales Hit Earnings
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Net loss totaling ¥27.157 billion for the first nine months of 2026. Revenue up 30.5% and operating profit up 26.5% in the period.
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Metaplanet swings to loss
Metaplanet reported a cumulative net loss of ¥27.157 billion (approximately $169.8 million) for the January-September 2026 period, reversing the ¥13.528 billion net profit booked in the same period a year earlier. Metaplanet said revenue rose 30.5% to ¥5.895 billion and operating profit climbed 26.5% to ¥3.476 billion, but Bitcoin valuation losses and a loss on Bitcoin sales pushed the bottom line into the red. Metaplanet disclosed a ¥8.04 billion Bitcoin valuation loss for January-September and a ¥19.171 billion loss on Bitcoin sales in the third quarter.
Metaplanet said it converted 10,000 Bitcoin into cash between July and September, and it reported holdings rose to 44,000 coins as of the end of September. Metaplanet also cut its full-year revenue forecast to ¥6.5 billion from ¥16 billion and its operating profit outlook to ¥3 billion from ¥11.4 billion.
Sales, borrowing, and accounting
Metaplanet said it sold 10,000 BTC for ¥124.7 billion and then spent ¥149.9 billion to buy 11,000 BTC, paying an average 9.3% more per coin. Metaplanet said it borrowed against its Bitcoin holdings during the quarter, increasing the amount it owed under the credit line to $649.5 million at the end of September from $414 million at the end of June. Metaplanet reported interest expense rose 56% from the previous quarter to 1.36 billion yen.
Metaplanet reported that short-term borrowings and bonds payable totaled 110.5 billion yen at the end of September. Metaplanet said the sale-and-repurchase sequence was aimed at showing rating agencies and bond investors that it could convert Bitcoin into cash to meet its funding obligations.
Forecast cuts and index risk
Metaplanet cut its full-year revenue forecast to ¥6.5 billion from ¥16 billion and cut its operating profit outlook to ¥3 billion from ¥11.4 billion.
MSCI confirmed that Strategy, Metaplanet and Upexi would be removed from its equity indexes at the Nov. 30 market close, a change that could prompt funds tracking those benchmarks to sell the shares.
Metaplanet stock fell over 4% to ¥219 on November 13, with the article describing the shares as trading below its average share repurchase price.
Metaplanet reportedly bought back 108.7 million shares for ¥28.27 billion, using 54.4% of its share allowance.
Metaplanet’s results were described as arriving as Bitcoin treasury companies face pressure from incoming stock index removals and falling Bitcoin prices, with Bitcoin trading around $68,600 as of 4:51 p.m. UTC.