Bitcoin treasury firm Metaplanet has rolled out a share repurchase program on Tuesday, as per an X post and relevant corporate documents.
The update comes after the firm revised its income forecasts for 2025 upwards earlier this month.
The documents show that the firm will be taking a renewed approach to capital allocation, with multiple changes to how it sources its funds for Bitcoin purchases and repurchases forming a part of that.
The share repurchase program also comes alongside a new capital allocation policy in which perpetual preferred shares will be used which Metaplanet says is intended to enhance maximum shareholder value, a line of approach that has been adopted by Bitcoin treasury firm Strategy which now holds 4 classes of preferred stock.
The filing disclosed that Metaplanet currently holds 30,823 BTC, which, according to BitcoinTreasuries.net, makes it the 4th largest corporate holder of Bitcoin in the world.
The decision to carry out share repurchases comes after dealing with cryptocurrency market volatility and a lowered m-NAV, which the company says does not effectively reflect the asset’s value.
Metaplanet’s board of directors has also approved a credit facility, which has a maximum borrowing limit of $500 million. The total amount allocated for the repurchase is 75 billion Japanese Yen, and a maximum of 150,000,000 shares are to be repurchased.