Metaplanet adopts performance evaluation index using Bitcoin, and the stock price hit the daily limit down today

## Update Corporate Evaluation Indicators

MetaPlanet Co., Ltd. announced on the 26th that it will adopt 'BTC Gain' and 'BTC Yen Gain' as new key performance indicators (KPIs). These indicators are intended to complement the existing KPI 'BTC Yield' and provide shareholders with increased transparency in the company's financial evaluation and the benefits of capital allocation approach.

"BTC Gain" is an indicator calculated by multiplying the company's Bitcoin holding by the BTC yield during a certain period. Specifically, it is calculated by multiplying the Bitcoin holding at the start of the period by the BTC yield for the same period. On the other hand, "BTC JPY Gain" is a KPI representing the yen equivalent of BTC Gain, calculated by multiplying the Bitcoin market price on the final day of the period.

According to the company, these new metrics make it possible to quantify the net increase in Bitcoin brought about by the company's financial strategy by excluding the dilution effect. By measuring both BTC yield and the new metrics, shareholders can more clearly understand the company's capital allocation efficiency and the benefits of its Bitcoin acquisition strategy.

On the 25th, Metaplanet announced that as its latest investment activity, it had purchased an additional 135 BTC, bringing its total Bitcoin holdings to 2,235 BTC. This additional purchase was conducted at approximately 14.36 million yen per BTC, with a total amount of about 1.93 billion yen.

Related: Metaplanet adds additional Bitcoin for 2 billion yen, increasing its holdings to 2,235 BTC

The 'BTC Yield,' which is a key performance indicator that the company values, recorded 23.2% in the first quarter of 2025 (as of February 25). This indicator shows the ratio of the total amount of Bitcoin held to the number of fully diluted outstanding shares. In the previous quarter (October-December 2024), it had achieved a high figure of 309.8%. U.S.-based Strategy Company (formerly MicroStrategy) also adopts a similar indicator.

Related: Strategy Company, purchasing an additional 300 billion yen worth of Bitcoin

In terms of fundraising, 27.7% of the 13th new share subscription rights by EVO FUND were exercised between February 18th and 25th, and 1,164,000 shares (with an average exercise price of about 6,129 yen per share) were issued. The company has reached an estimated net amount of approximately 7.13 billion yen due to the exercise so far, and also completed the early redemption of the 6th corporate bond of 4 billion yen issued on February 10th by February 21st.

Meanwhile, following the Bitcoin (BTC) price falling below $90,000 in the evening of the 25th, Metaplanet's stock price hit the daily limit down today, closing at -16.64% from the previous day. The company continues to indicate its intention to raise funds through the exercise of new share subscription rights and to continue purchasing Bitcoin.

Topics: Trends of Bitcoin-holding companies and countries