Metaplanet delays preferred share listing amid challenging Japanese market structure
- Metaplanet holds a treasury of 40,177 BTC, making it Japan’s largest corporate bitcoin holder.
- The company has postponed its preferred share listing due to complexities in Japan’s underdeveloped preferred equity market.
- CEO Simon Gerovich noted that the planned instrument would be the first-ever perpetual preferred share in Japan.
- Metaplanet reported net sales of $19.5 million (¥3.08 billion), up 251% year-on-year, and operating income of $14.4 million (¥2.27 billion), up 283%.
- The company’s bitcoin yield for the quarter-to-date is 2.8%, while shares are down 25% year-to-date.
Metaplanet faces two main challenges for its preferred share listing, including demonstrating stable returns from its Bitcoin Income Generation Business and establishing new dividend infrastructure for monthly payouts.
Despite these hurdles, Metaplanet remains committed to launching its preferred shares, highlighting a significant increase in net sales by 251%. (Source)
