Metaplanet has repurchased another 12,256,200 common shares for ¥2,999,916,700, or approximately $18.76 million, the Tokyo-listed Bitcoin treasury company disclosed on November 13, 2026.
The shares were bought through market purchases on the Tokyo Stock Exchange between November 1 and November 12 at an average price of roughly ¥244.77 per share. The repurchase brings Metaplanet’s running total to 108,703,600 shares under its current buyback program.
Buyback program details
Metaplanet’s board authorized the buyback on October 13, 2026, with a ceiling of ¥60 billion or up to 200 million shares. So far, the company has spent ¥28.27 billion acquiring 108.7 million shares, representing 54.4% of the authorized share count.
About 91.3 million shares remain available under the program, with approximately ¥31.73 billion in capacity left.
The company has said the buyback is intended to increase Bitcoin holdings per share and improve capital efficiency. It also aims to offset dilution from earlier convertible bond issuances. Metaplanet held 44,000 BTC as of September 30, 2026.
Stock pressures mount
The repurchase announcement did not halt selling. Metaplanet shares fell more than 4% on November 13, closing at ¥219, below the average price the company paid during the November 1 to 12 buying window.
Metaplanet is set to be removed from the MSCI Japan Small Cap Index effective November 30, 2026. The company also cut its FY2026 revenue forecast to ¥6.5 billion.
For existing holders, every retired share increases their proportional claim on the company’s 44,000 BTC, assuming the Bitcoin stack stays unchanged. The trade-off is cash: money spent on buybacks is money not spent on acquiring more Bitcoin or funding operations, a consideration that matters more after the revenue forecast cut.
What to watch
- How quickly Metaplanet works through the remaining 91.3 million shares in its authorization.
- How the stock trades around the November 30 MSCI removal date, when index-related selling would typically concentrate.
- Whether the company’s Bitcoin holdings change from the 44,000 BTC reported as of September 30.
