PANews reported on October 28th that Metaplanet, a Japanese Bitcoin treasury company, announced that at its board meeting on October 28, 2025, the company resolved to establish a share repurchase program. Recognizing that its share price currently does not fully reflect the company's intrinsic economic value due to increased market volatility and declining mNAV, the company established this program as part of its prudent capital allocation policy. The program aims to maximize Bitcoin yields and improve capital efficiency, particularly during periods when mNAV is below 1.0x. To facilitate the flexible execution of the repurchase program, the board of directors approved a credit facility with a maximum borrowing capacity of US$500 million (approximately 76.4 billion yen). Borrowings using Bitcoin as collateral can be executed promptly at the company's discretion. Proceeds raised can be used for further Bitcoin acquisitions, investments in Bitcoin-based businesses, or share repurchases. Furthermore, this facility forms part of the company's broader financial strategy and is expected to serve as a bridge to the planned issuance of preferred stock in the future.


