Metaplanet (3350) investor relations material

Executive summary

• Achieved record holdings of 40,177 BTC as of March 31, 2026, ranking third globally among public companies and the largest outside the U.S., with a 2.8% increase in BTC per fully diluted share from the previous quarter.

• Consolidated revenue surged to ¥3,080M in Q1 2026, a 3.51x (251.1%) year-over-year increase, driven primarily by Bitcoin-related operations and hotel business growth.

• Operating profit rose 282.5% year-over-year to ¥2,267M, but a significant net loss of ¥114,493M was recorded due to Bitcoin valuation losses.

• Shareholder base expanded to over 250,000, nearly quadrupling year-over-year.

• Management emphasizes a strategic focus on maximizing BTC per share and building a digital capital platform anchored in Japan.

Financial highlights

• Q1 2026 revenue: ¥3,080M (+251.1% YoY); operating profit: ¥2,267M (+282.5% YoY).

• Net loss for the quarter: ¥114,493M, impacted by significant BTC valuation losses.

• Total assets at quarter-end: ¥466,654M, down 7.6% from prior year-end; equity ratio at 86.2%.

• BTC NAV as of March 31, 2026: ¥435.7B; reference value as of May 12, 2026: ¥514.4B.

• Earnings per share: ¥(99.02) (vs. ¥(12.35) prior year).

Outlook and guidance

• FY2026 revenue forecast: ¥16,000M; operating profit forecast: ¥11,400M.

• Q1 progress: 19.2% of full-year revenue and 19.8% of operating profit targets achieved.

• No forecasts provided for ordinary profit or net income due to Bitcoin price volatility.

• Bitcoin Income Generation business expected to deliver stable option premium income; hotel business to maintain stable performance.