Key Highlights:
- Dylan LeClair announces Metaplanet’s 5/5 shareholder approvals on X.
- Shareholders approved moving capital stock and reserves into capital surplus for dividends and buybacks.
- Doubling preferred shares and MARS/Class B features will increase capital flexibility for the company.
Dylan LeClair, Director of Bitcoin Strategy at Metaplanet, announced on social media platform X today, December 22, 2025, that all five proposals at Metaplanet Inc.’s special shareholder meeting have been approved by a great margin. This approval indicates that Japan is growing acceptance of Bitcoin as a corporate treasury asset.
5/5 Proposals Approved at the @Metaplanet Extraordinary Shareholder Meeting
1) Approve shift of capital stock and capital reserve to capital surplus to increase capacity for preferred share dividends & potential share buybacks. ✅
2) Increase the total number of authorized…
— Dylan LeClair (@DylanLeClair) December 22, 2025
The Tokyo-listed firm, which is also known as ‘Japan’s MicroStrategy’ held a meeting amid increasing global interest in companies holding Bitcoin. Under CEO Simon Gerovich, the approvals open doors for more flexible fundraising, share structure changes, and attracting institutional investors.
The approval has come at a time as Metaplanet keeps increasing its Bitcoin, now holding 30,823 BTC by late 2025. The company’s move from real estate to a Bitcoin-focused strategy follows the path of U.S. firm MicroStrategy and has caught strong interest from investors.
Proposal 1: Capital Restructuring For Dividends and Buybacks
The shareholders during the meeting first approved capital stock and reserves into capital surplus. With this change, Metaplanet’s ability to pay preferred share dividends and buy back shares increases, and it creates funds for shareholder returns even when markets are volatile.
By making this move, the company can use surplus funds more freely under Japanese corporate rules. The supporters see this as a way to support Bitcoin gains, which is Metaplanet’s main focus, where BTC holdings earn “dividend-like” returns through price growth and lending.
Proposal 2: Doubling Authorized Preferred Shares
The meeting doubled the allowed shares for both Class A and Class B preferreds, from 277.5 million to 555 million each. With this move, Metaplanet will have a great capacity where it can issue shares and raise money without diluting existing shareholders’ value.
Proposal 3: MARS, Monthly Adjustable Rate Security
Class A preferred shares now use a “MARS” (Metaplanet Adjustable Rate Security) structure that offers monthly dividends which change according to the market. Payouts are linked to short-term benchmarks plus a Bitcoin-related component to help keep returns stable.
Proposal 4: Class B with Call/Put Protections
Class B preferreds now offer quarterly dividends, a 10-year option for the company to buy back at 130% and investor rights to sell back (unless there is an IPO within a year), giving both steady returns and flexible exit options.
Proposal 5: Overseas Institutional Access
This approval lets Metaplanet sell Class B shares to the oversea investors. The main aim behind this is to raise money so that the company can buy more Bitcoin. This move is in-line with Metaplanet’s plan to expand globally. In recent news, the company also announced a Sponsored Level I ADR program, making Metaplanet’s shares easier to trade in the U.S. over-the-counter market.
Final Thoughts
The approval of all shareholder proposals increase Metaplanet’s ability to manage its capital, pay dividends, and buy back shares while continuing its Bitcoin strategy. Doubling authorized preferred shares and introducing MARS and Class B features provides the company with a flexibility to raise funds and attract investors.
On top of this, the Sponsored Level I ADR program, which started trading on December 19 under the ticker MPJPY, allows traders in the U.S. to easily invest in the company’s stock. This announcement raised the prices of the stocks by about 6.5% in Tokyo.
All of these points show that the company is focusing strongly on expanding its Bitcoin holdings while making sure that it increases its international credibility and access to the capital.
Also Read: Metaplanet Cashes In on Bitcoin, Raises $130 Million
