Metaplanet, Japan’s leading bitcoin treasury firm, has received shareholder approval to overhaul its capital structure to raise billions of dollars for its ambitious Bitcoin accumulation strategy.
During an Extraordinary General Meeting of Shareholders on September 1, 2025, Metaplanet shareholders accepted revisions to the company’s articles of incorporation. The updates involved increasing the authorized number of shares to 2.7 billion and implementing a dual-class preferred stock structure. While retaining control in the hands of existing shareholders, the new share classes seek to include a variety of investors.
The company approved a change to its Articles of Incorporation to allow shareholders’ meetings to be held entirely online. This means that such meetings no longer need a physical location.
Details of New Share Classes
Metaplanet updated its Articles of Incorporation to establish rules for different share types, introducing Class A and Class B shares. Class A shares provide a fixed annual return of up to 6% with no voting rights. Class B shares can be converted into common stock under certain conditions, offering higher profit potential but with greater risk.
Metaplanet defined the new share classes as a “defensive mechanism” to shield current shareholders from losing significant ownership, yet providing room to raise as much as 555 billion yen ($3.7 billion) in funding.
The firm plans to use the funds by issuing perpetual preferred shares. The funds will be used to help Metaplanet effectively meet its goal of accumulating 210,000 Bitcoin by the end of 2027. On September 1, 2025, the firm held 20,000 Bitcoin, with a market value of approximately $2.2 billion.
Strategic Outlook
Despite shareholder nod, Metaplanet is struggling to implement its capital raising strategy. As per Yahoo Finance’s data, Metaplanet’s stock was trading around $6.11, down 54% from its June high of $12.75. Metaplanet will also have to secure regulatory approval from Japanese regulators prior to the issuance of new shares.
Metaplanet’s rapid Bitcoin buying approach has been likened to that of U.S. software company MicroStrategy, which similarly invested heavily in Bitcoin. The firm’s management, including CEO Simon Gerovich, is steadfast in its decision to keep Bitcoin as a store of value and refrain from liquidating any of its assets.
Also Read: Metaplanet to Raise $881M to Expand Bitcoin Holdings
