Metaplanet Q1 Net Loss 114.5B Yen on Bitcoin Drop

Tokyo-listed Metaplanet Inc. reported a net loss of 114.5 billion yen (about 725 million dollars) for the first quarter of its fiscal year 2026, ending March 31, primarily due to non-cash valuation losses on its bitcoin holdings amid a 24 percent drop in the cryptocurrency's price during the period. The company increased its bitcoin treasury to 40,177 BTC, up from 35,102 BTC at the end of December 2025, solidifying its position as the largest publicly traded bitcoin holder outside the United States.

The loss stemmed from 116.3 billion yen (736 million dollars) in bitcoin valuation markdowns, as prices fell from around 87,000 dollars at the start of January to about 66,000 dollars by quarter-end. Total assets declined to 466.7 billion yen (2.96 billion dollars) from 505.3 billion yen at the prior year-end, reflecting the market correction.

Despite the headline loss, operating performance showed robust growth. Net sales rose 251 percent year-over-year to 3.08 billion yen (19.5 million dollars), driven mainly by the company's Bitcoin Income Generation business, which generated revenue through option premiums and derivative gains tied to its holdings. Operating profit climbed 282...