By cryptoadmin Japanese investment firm Metaplanet has announced its financial results for the first quarter of fiscal year 2026.
Despite strong operational performance, the company reported a net loss of 114.5 billion yen (approximately $725.6 million) due to the decline in the value of its Bitcoin assets.
The results revealed once again how sensitive the company’s aggressive Bitcoin accumulation strategy is to short-term market fluctuations.
Metaplanet stated that the loss was largely due to accounting adjustments related to the decline in Bitcoin prices at the end of the quarter.
The company’s balance sheet recorded Bitcoin valuation losses of 116.4 billion yen (approximately $737.6 million) alone. Management emphasized that this was not an actual sales loss, but a temporary accounting effect based on market prices.
On the other hand, the company experienced remarkable growth on its operational side. Revenues increased by 251 percent year-on-year to 3.08 billion yen, while operating profit rose by 282.5 percent to 2.3 billion yen. This growth was driven by Bitcoin-based options strategies and hotel management activities.
Metaplanet purchased an additional 5,075 $BTC in the first quarter, bringing its total Bitcoin holdings to 40,177 $BTC. The company stated that it holds approximately 87 percent of the total Bitcoin held by publicly traded companies in Japan.
With this amount, Metaplanet has risen to become the third-largest institutional Bitcoin investor globally, and plans to continue its purchases through equity issuance and debt financing. The company has not made any changes to its 2026 revenue and profitability targets.
*This is not investment advice.