Metaplanet to Buy Back 96.93M Shares for About ¥25.3B via Off-Auction

Metaplanet is using an off-auction mechanism to execute a large, fixed-size repurchase at a single price, which is a notably rigid structure — the share count won't be adjusted, so execution risk sits entirely with the company if the order isn't filled. For a bitcoin treasury vehicle, a buyback of this scale signals the board sees its own equity as a capital allocation outlet alongside bitcoin accumulation, though the fixed-price, no-adjustment design leaves the outcome uncertain until results are disclosed. Whether the full amount clears at 8:45 a.m. is the open question.