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Japanese company that raises capital to buy and hold bitcoin as its primary balance-sheet strategy, pivoted from hotels.
Japanese company that raises capital to buy and hold bitcoin as its primary balance-sheet strategy, pivoted from hotels.
Raises money by issuing new shares, warrants and bonds, then uses it to buy bitcoin, so results depend on bitcoin's price and on investors continuing to fund it. Its few hotel operations produce little next to the bitcoin holdings. The strategy began in April 2024.
In one line: Japan's answer to Strategy (formerly MicroStrategy).
Moat: none (brand). First-mover branding as Japan's bitcoin treasury company, but strategy is easily replicated and highly leveraged to bitcoin price.
Headquarters: Tokyo, Japan · Founded: 2005 · Employees: 35
Size Metaplanet (3350.T) is a Japan Financials company (Investment Banks/Brokers) with a market value of $2.05B, the 474th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥237 on 6 Nov 2026.
Performance Over six months the shares fell 27.3%, against -11.8% for the median peer and +1.8% for the Japan market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 289.8% over the last twelve months (peer median +18.2%); the operating margin is 62.2% (peer median 28.2%).
Valuation It trades at 0.89× book value against a peer median of 1.33× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 5.4%; Metaplanet delivers -104.8%, so the price asks more than the business earns today.
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥11.7B | ¥8.90B | ¥1.06B | ¥262M | ¥366M |
| Revenue growth | — | +738% | +306% | -29% | — |
| Gross profit | ¥10.6B | ¥8.34B | ¥973M | ¥170M | ¥23.9M |
| EBITDA | ¥8.35B | ¥6.35B | ¥367M | -¥418M | -¥681M |
| Net income | -¥284B | -¥95.0B | ¥4.44B | -¥684M | ¥978M |
| Free cash flow | n/a | ¥6.58B | ¥607M | -¥709M | -¥614M |
| Capital expenditure | n/a | ¥542B | ¥92.9M | ¥159M | ¥317M |
| Total debt | ¥75.5B | ¥43.8B | ¥11.2B | ¥131M | ¥3.67B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Metaplanet 3350.T | $2.05B | -27% | +290% | -105% | 0.89× | 5.4% |
| Strategy MSTR | $54.5B | -31% | +4% | -22% | 0.98× | 19.5% |
| Twenty One Capital XXI | $3.57B | -36% | n/a | -12% | 1.38× | 7.6% |
| Strive ASST | $2.73B | +35% | +650% | -138% | 2.72× | 48.9% |
| Capital CAPD.L | $329M | -4% | +16% | 23% | 0.82× | 10.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3350.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.7% | -7.6% | 2nd lowest of 21 |
| 6-month return | -27.3% | -11.8% | 4th lowest of 20 |
| Return on equity | -104.8% | 9.9% | lowest of 21 |
| Price / book | 0.89× | 1.33× | 7th cheapest of 21 |
| ROE the price implies | 5.4% | 9.2% | 3rd least demanding of 20 |
| ROE delivered | -104.8% | 9.9% | lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Metaplanet 3350.T | Japan | $2.05B | -27% | +290% | -105% | 0.89× | 5.4% | -104.8% |
| Capital Securities 6005.TW | Taiwan | $2.04B | -7% | +81% | 25% | 1.30× | 8.1% | 25.1% |
| Shanghai Chinafortune 600621.SS | China | $1.97B | -12% | -5% | 7% | 1.37× | 13.8% | 7.0% |
| Central China Securities 1375.HK | Hong Kong | $2.18B | -27% | +41% | 4% | 0.38× | 5.6% | 4.3% |
| Nanhua Futures 2691.HK | Hong Kong | $1.86B | -17% | -24% | 14% | 0.84× | 9.2% | 14.0% |
| President Securities 2855.TW | Taiwan | $2.34B | +24% | +796% | 38% | 1.61× | 10.5% | 37.6% |
| UOB-Kay Hian U10.SI | Singapore | $2.36B | -29% | +36% | 14% | 1.28× | 8.7% | 13.7% |
| Compagnie Financiere Tradition CFT.SW | Switzerland | $2.37B | -15% | +3% | 30% | 3.79× | n/a | 30.3% |
| IBF Financial 2889.TW | Taiwan | $1.75B | +9% | +66% | 10% | 1.22× | 4.6% | 9.8% |
| Polaris Bay 600155.SS | China | $1.74B | -14% | -4% | 1% | 0.59× | 6.4% | 0.8% |
| Northeast Securities 000686.SZ | China | $2.52B | -17% | +1% | 6% | 0.71× | 7.0% | 6.4% |
| CMC Markets CMCX.L | United Kingdom | $2.54B | +79% | +16% | 17% | 4.00× | 39.1% | 17.0% |
| TOP Financial TOP | United States | $1.64B | +93% | -41% | -3% | 14.01× | 50.1% | n/a |
| GoFintech Quantum Innovation 0290.HK | Hong Kong | $1.62B | -82% | +108% | -39% | 2.14× | 9.4% | -39.2% |
| Aozora Bank 8304.T | Japan | $2.60B | +17% | +12% | 6% | 0.82× | 5.4% | 6.4% |
| Matsui Securities 8628.T | Japan | $1.61B | +7% | +47% | 23% | 2.92× | 12.5% | 23.3% |
| Lincoln International LCLN | United States | $2.65B | n/a | +35% | 55% | 19.72× | 335.4% | n/a |
| Oshidori International 0622.HK | Hong Kong | $2.67B | +52% | +71% | 10% | 4.84× | 31.5% | 10.0% |
| Shanxi Securities 002500.SZ | China | $2.73B | -10% | -3% | 5% | 0.97× | 8.7% | 5.2% |
| flatexDEGIRO FTK.DE | Germany | $2.78B | -27% | +20% | 22% | 2.47× | 17.6% | 21.7% |
| AMTD IDEA Group Sponsored ADR AMTD | United States | $1.50B | -52% | +14% | 2% | 0.01× | 3.1% | 1.6% |