Japan’s Metaplanet Makes First Share Buyback Worth $120 Million
Summary
- Metaplanet said it has carried out its first share buyback.
- The company said its repurchase of about 73.98 million common shares amounted to about 5.42% of all common shares outstanding and was worth about 19.3 billion yen (about $120 million).
- The share buyback is intended to improve capital efficiency and increase Bitcoin holdings per share, and the company still has room to repurchase an additional 9.2% of its outstanding shares.
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Metaplanet, the Japanese company dubbed “Japan’s Strategy,” has carried out its first share buyback.
Metaplanet said on Oct. 14 that it repurchased about 73.98 million common shares, equal to about 5.42% of its total common shares outstanding. The buyback was worth about 19.3 billion yen, or roughly $120 million.
The repurchase is intended to improve capital efficiency and increase Bitcoin holdings per share. Bitcoin Treasuries wrote on X that Metaplanet still has capacity to repurchase an additional 9.2% of its outstanding shares.
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