About / Securities · MPJPY / 3350 · Tape
$MPJPY Metaplanet
Metaplanet is a Japanese Bitcoin treasury company focused on accumulating Bitcoin. Its shares trade in Tokyo as 3350 and in the U.S. through its MPJPY depositary receipts.
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GROSS & NET BITCOIN EXPOSURE
MPJPY · CEBE
Net Bitcoin-equivalent backing after debt and preferred claims, offset by cash.
Basic common shares · Snapshot 2026-09-11
Dashboard capital estimate with a fixed FX snapshot. See dates and assumptions below.
- Net claims / BTC value
- —
- Net sats / $100 of stock
- —
- Net mNAV
- —
- Direct BTC sats / $100
- —
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Calculation, dates & sources
- BTC held
- 43,000
- Common shares
- 1,364,282,624
- Debt principal
- $464,065,700
- Preferred claims
- $153,757,055.7
- Cash offset
- $12,000,000
- Net claims
- $605,822,755.7
Net sats/share = [BTC − (debt + preferred − cash) ÷ BTC price] ÷ common shares × 100,000,000.
Net sats/$100 = net sats/share × 100 ÷ stock price. Net mNAV = stock price ÷ net backing per share in dollars. Direct BTC assumes no fees.
Dashboard-based estimate using the September 11 treasury snapshot. Debt uses the dashboard's latest treasury balance, not its separate instrument-history total; debt and cash have not been independently reconciled to financial statements.
MERCURY = 23,610,000 preferred shares × ¥1,000 liquidation preference × $0.00651237 per yen. The FX snapshot was retrieved September 13, 2026; the provider does not identify its observation time. The conversion is fixed, not a live FX quote.
Basic ordinary shares only; MERCURY is deducted as a claim and is not also counted as converted common shares. One MPJPY ADR represents one ordinary share. Accrued preferred dividends and other liabilities are excluded.
- Metaplanet dashboard capital snapshot ↗ · 2026-09-11
Public data used by analytics.metaplanet.jp: latest BTC, basic shares, debt and cash. Retrieved September 13, 2026. - MERCURY terms ↗ · 2025-12-29
23,610,000 shares; ¥1,000 liquidation preference, distinct from the ¥900 issue price. - Metaplanet analytics ↗ · 2026-09-13
Preferred USD value and USD-per-JPY conversion from the retrieved dashboard snapshot; FX observation time unspecified.
Uses unconverted claims and basic/effective common shares. Options and potential conversion shares are excluded. Debt and preferred amounts are modeled notionals, not a comprehensive liquidation waterfall. Other liabilities, accrued or future dividends, operating costs and taxes are excluded.
CEBE means Common Equity Bitcoin Exposure. Framework credited to Bobby Tierney / CEBE Tracker. BTCperShare calculates independently; cash definitions and reporting dates may differ.
Quarterly denominator history
The effective-diluted denominator includes issued common shares, MERCURY convertible preferred shares, and in-scope warrants/options. It is not the same as basic shares outstanding.
| As of | BTC | Basic shares | Effective diluted | Basic sats | Diluted sats | BTC Yield |
|---|---|---|---|---|---|---|
| 24-06-30 | 141.073 | 181,692,180 | 227,692,180 | 78 | 62 | — |
| 24-09-30 | 398.832 | 181,692,180 | 454,201,850 | 220 | 88 | +41.7% |
| 24-12-31 | 1,761.98 | 362,683,340 | 489,604,170 | 486 | 360 | +309.8% |
| 25-03-31 | 4,046 | 459,823,340 | 574,779,175 | 880 | 704 | +95.6% |
| 25-06-30 | 13,350 | 654,714,340 | 826,567,925 | 2,039 | 1,615 | +129.4% |
| 25-09-30 | 30,823 | 1,140,974,340 | 1,434,392,925 | 2,701 | 2,149 | +33.0% |
| 25-12-31 | 35,102 | 1,142,274,340 | 1,459,627,925 | 3,073 | 2,405 | +11.9% |
| 26-03-31 | 40,177 | 1,274,171,340 | 1,624,499,175 | 3,153 | 2,473 | +2.8% |
| 26-06-30 | 43,000 | 1,281,283,624 | 1,631,543,380 | 3,356 | 2,636 | +6.6% |
| 26-09-11 | 43,000 | 1,364,282,624 | 1,500,108,824 | 3,152 | 2,866 | +8.8% |
Bitcoin acquisition ledger
All 54 additions since the first completed purchase. Purchase rows link to the English issuer disclosure; two small 2024 additions without standalone purchase notices are labeled separately and sourced to Metaplanet's analytics dashboard.
| Transaction date | Type | BTC added | Total BTC | Source |
|---|---|---|---|---|
| 26-06-30 | Purchase | +2,823 | 43,000 | Disclosure ↗ |
| 26-03-31 | Purchase | +5,075 | 40,177 | Disclosure ↗ |
| 25-12-30 | Purchase | +4,279 | 35,102 | Disclosure ↗ |
| 25-09-30 | Purchase | +5,268 | 30,823 | Disclosure ↗ |
| 25-09-22 | Purchase | +5,419 | 25,555 | Disclosure ↗ |
| 25-09-08 | Purchase | +136 | 20,136 | Disclosure ↗ |
| 25-09-01 | Purchase | +1,009 | 20,000 | Disclosure ↗ |
| 25-08-25 | Purchase | +103 | 18,991 | Disclosure ↗ |
| 25-08-18 | Purchase | +775 | 18,888 | Disclosure ↗ |
| 25-08-12 | Purchase | +518 | 18,113 | Disclosure ↗ |
| 25-08-04 | Purchase | +463 | 17,595 | Disclosure ↗ |
| 25-07-28 | Purchase | +780 | 17,132 | Disclosure ↗ |
| 25-07-14 | Purchase | +797 | 16,352 | Disclosure ↗ |
| 25-07-07 | Purchase | +2,205 | 15,555 | Disclosure ↗ |
| 25-06-30 | Purchase | +1,005 | 13,350 | Disclosure ↗ |
| 25-06-26 | Purchase | +1,234 | 12,345 | Disclosure ↗ |
| 25-06-23 | Purchase | +1,111 | 11,111 | Disclosure ↗ |
| 25-06-16 | Purchase | +1,112 | 10,000 | Disclosure ↗ |
| 25-06-02 | Purchase | +1,088 | 8,888 | Disclosure ↗ |
| 25-05-19 | Purchase | +1,004 | 7,800.01 | Disclosure ↗ |
| 25-05-12 | Purchase | +1,241 | 6,796.01 | Disclosure ↗ |
| 25-05-07 | Purchase | +555 | 5,555.01 | Disclosure ↗ |
| 25-04-24 | Purchase | +145 | 5,000.01 | Disclosure ↗ |
| 25-04-21 | Purchase | +330 | 4,855.01 | Disclosure ↗ |
| 25-04-14 | Purchase | +319 | 4,525.01 | Disclosure ↗ |
| 25-04-02 | Purchase | +160 | 4,206.01 | Disclosure ↗ |
| 25-03-31 | Purchase | +696 | 4,046.01 | Disclosure ↗ |
| 25-03-24 | Purchase | +150 | 3,350.01 | Disclosure ↗ |
| 25-03-18 | Purchase | +150 | 3,200.01 | Disclosure ↗ |
| 25-03-12 | Purchase | +162 | 3,050.01 | Disclosure ↗ |
| 25-03-05 | Purchase | +497 | 2,888.01 | Disclosure ↗ |
| 25-03-03 | Purchase | +156 | 2,391.01 | Disclosure ↗ |
| 25-02-25 | Purchase | +135 | 2,235.01 | Disclosure ↗ |
| 25-02-20 | Purchase | +68.59 | 2,100.01 | Disclosure ↗ |
| 25-02-17 | Purchase | +269.43 | 2,031.42 | Disclosure ↗ |
| 24-12-23 | Purchase | +619.7 | 1,761.99 | Disclosure ↗ |
| 24-11-19 | Purchase | +124.117 | 1,142.29 | Disclosure ↗ |
| 24-10-28 | Purchase | +156.783 | 1,018.17 | Disclosure ↗ |
| 24-10-16 | Other BTC addition | +5.91 | 861.385 | Dashboard ↗ |
| 24-10-15 | Purchase | +106.976 | 855.476 | Disclosure ↗ |
| 24-10-11 | Purchase | +108.999 | 748.5 | Disclosure ↗ |
| 24-10-07 | Purchase | +108.786 | 639.501 | Disclosure ↗ |
| 24-10-03 | Other BTC addition | +23.972 | 530.715 | Dashboard ↗ |
| 24-10-01 | Purchase | +107.913 | 506.743 | Disclosure ↗ |
| 24-09-10 | Purchase | +38.464 | 398.83 | Disclosure ↗ |
| 24-08-20 | Purchase | +57.273 | 360.366 | Disclosure ↗ |
| 24-08-13 | Purchase | +57.103 | 303.093 | Disclosure ↗ |
| 24-07-22 | Purchase | +20.381 | 245.99 | Disclosure ↗ |
| 24-07-16 | Purchase | +21.877 | 225.609 | Disclosure ↗ |
| 24-07-08 | Purchase | +42.466 | 203.732 | Disclosure ↗ |
| 24-07-01 | Purchase | +20.195 | 161.266 | Disclosure ↗ |
| 24-06-10 | Purchase | +23.351 | 141.071 | Disclosure ↗ |
| 24-05-09 | Purchase | +19.87 | 117.72 | Disclosure ↗ |
| 24-04-23 | Purchase | +97.85 | 97.85 | Disclosure ↗ |
Primary security: TSE Standard 3350 in JPY. Site pricing line: MPJPY, the sponsored Level I ADR, in USD at a 1:1 ordinary-share ratio. MTPLF is not used. This avoids a second FX input and keeps market-cap mNAV aligned to the disclosed ordinary-share count. Superplanet is treated as a separate U.S. platform; its proposed 2,100 BTC contribution is not deducted until Metaplanet reports a completed transaction and revised holdings.
Sources: Metaplanet disclosures · Metaplanet analytics · Deutsche Bank ADR directory. Not financial advice.