Metaplanet Trims Options Pool, Expands into Hong Kong

Metaplanet has made significant changes after its recent stock slide. The company announced the establishment of a Hong Kong subsidiary, Metaplanet Asset Management Asia Limited, with an initial capitalization of $1 million. This move is part of its plan to build a financial platform around Bitcoin, called 'Project Nova'. The new unit will handle trade execution, position monitoring, and risk management during Asian hours.

The company also reshuffled its executive officers, with Yoshihisa Ikurumi moving from CFO to Executive Officer and Director of Administration. Shinpei Okuno took over as the new CFO. Metaplanet's stock closed at ¥249 on Friday, down from its previous close of ¥259.

Additionally, the company has trimmed its options pool by 41%, shrinking it from 131,274,000 to 188,190,000 shares. This decision comes after concerns over stock dilution and governance. The board also agreed to convert each option unit into 410 shares instead of the original 696 proposed.

Metaplanet will ask shareholders at a virtual-only Extraordinary General Meeting on December 18 to reclassify its capital stock and cut its capital reserve to zero. This move aims to lift its distributable amount and clear an accumulated deficit of roughly 1.8 billion yen carried at the end of 2025.