Capital Research and Management has crossed the 10% voting-rights threshold in Metaplanet, according to an investor report disclosed by the company on October 23. The investment adviser's reported position stood at 143,301,084 shares as of October 16, equivalent to 11.11% of voting rights, up from 125,455,820 shares and a 9.32% stake as of September 8.
The increase reflects contributions from two sources. Capital Research reported 17,845,264 additional shares between the two dates. Additionally, Metaplanet completed a share buyback on October 14 that reduced the total outstanding shares and therefore increased the percentage of voting rights held by existing shareholders.
Buyback Details
Metaplanet repurchased 73,981,400 ordinary shares at ¥261 each on October 14, costing ¥19.309 billion. The transaction used the Tokyo Stock Exchange's ToSTNeT-3 off-auction repurchase system.
The company has authorization for up to 200 million ordinary shares and ¥60 billion of purchases between October 14, 2026 and October 13, 2027. Metaplanet linked its repurchase policy to capital efficiency and Bitcoin holdings per share.
Considerations for Investors
Voting percentages represent a fraction of total voting rights and can change when either the investor's holding increases or the denominator of outstanding shares decreases. Voting power also differs from economic exposure, as share classes, treasury stock and financing claims can affect the true value of a holding.
Metaplanet noted it had not independently confirmed beneficial ownership in the investor report. For shareholders evaluating the company's Bitcoin strategy, analysts recommend considering factors beyond voting percentage, including total shares outstanding, balance sheet obligations and the cost basis of the exposure.
