Metaplanet Inc.
3350・Standard Market・Wholesale Trade
Governance
Transitioned from a Company with a Board of Corporate Auditors to a Company with Nominating Committee, etc. in March 2026. The Board of Directors consists of 10 members (of which 9 are outside directors, a 90% outside ratio), with three committees established: the Nominating and Governance Committee, the Audit Committee, and the Compensation Committee. The company aims to clearly separate oversight and execution, and has established an agile decision-making framework through the Executive Officers' Council.
Risk Management
Risk information is reported to the Board of Directors, the Nominating and Governance Committee, the Audit Committee, and the Compensation Committee, with efforts made to strengthen the internal control system. Monitoring is conducted by one internal auditor reporting directly to the Representative Executive Officer, and an advisory agreement with an experienced law firm has been established to provide a framework for responding to legal matters in general. Regarding the Bitcoin-collateralized credit facility (total of USD 500 million), the basic policy is to utilize it within a range that does not involve excessive leverage.
Shareholder Returns
No dividend on common shares for the current fiscal year (FY2026 (ending March 2026) forecast is also ¥0). Series B preferred shares receive a preferential dividend of ¥49 per share annually (¥12.25 quarterly), paid out of capital surplus. The capital allocation policy stipulates that share buybacks will be conducted when mNAV falls below 1x, among other situations.
Dividend Policy
Common shares will pay an annual dividend of ¥0 for both FY2025 (ending December 2025) and FY2026 (ending December 2026). Series B preferred shares (MERCURY) carry a preferential dividend of ¥49 per share annually (¥12.25 quarterly), funded from capital surplus (net asset reduction ratio of 0.015). Per the board resolution dated January 27, 2026 (record date December 31, 2025), a dividend of ¥0.40 per share (total ¥9 million) was paid from capital surplus, and per the board resolution dated March 25, 2026 (record date March 31, 2026), a dividend of ¥12.25 per share (total ¥289 million) was paid from capital surplus. Regarding share buybacks, the capital allocation policy stipulates that they will be executed appropriately from the perspective of maximizing BTC yield when mNAV falls below 1x, with funding sources expected to include cash on hand, preferred share issuances, credit facilities, and revenue from the Bitcoin Income Business (Options Trading), among others.
ESG
Currently, no basic policy on sustainability has been formulated, and no dedicated governance structure has been established. Regarding human capital, the company has adopted a policy of developing a diverse recruitment and employment environment regardless of gender, age, or nationality, but specific indicators and targets have not yet been set. Going forward, the company states that it will consider formulating a basic policy as well as setting and disclosing indicators and targets.
Last updated: June 12, 2026