Metaplanet Posts Strong Q3 Growth and Addresses Governance Claims

Japanese Bitcoin treasury firm Metaplanet Inc. released its Q3 2025 financial results on Thursday. It shows continued growth in its Bitcoin holdings and strong operational progress. Alongside its results, the company’s CEO, Simon Gerovich, issued a statement addressing media reports suggesting weak corporate governance among firms transitioning to digital asset-focused businesses. Gerovich emphasized that Metaplanet has followed all proper shareholder procedures and operates with full transparency under Japan’s corporate laws

Metaplanet Defends Its Corporate Governance

In response to speculation about potential “backdoor listings” among Japanese firms entering the digital asset space. CEO Simon Gerovich clarified that Metaplanet’s transition is into a Bitcoin treasury company. That was conducted through a series of formally approved shareholder meetings. Over the past two years, Metaplanet has held five general meetings of shareholders. 

This includes four extraordinary sessions and one regular meeting. Gerovich explained that all key corporate decisions, including amendments to the company’s articles of incorporation. The authorization of preferred shares and increases in capital to fund Bitcoin purchases. Those were passed with shareholder approval. “Corporate governance serves as the foundation of all decision-making at Metaplanet,” Gerovich said. He is reinforcing the company’s leadership and processes. It has remained consistent since before its shift to a Bitcoin-focused business.

Strong Q3 Performance Driven by Bitcoin Gains

In its third-quarter financial report, specifically, Metaplanet recorded non-operating income of ¥20.6 billion. This was primarily driven by Bitcoin valuation gains as part of its treasury strategy. Furthermore, the company’s Q3 alone saw ¥10.6 billion in valuation gains. It is following a ¥17.4 billion gain in Q2 and a ¥7.4 billion loss in Q1. This reflects Bitcoin volatility but an upward trajectory throughout 2025. Despite these fluctuations, Metaplanet stated that its Bitcoin treasury business continues to progress steadily. 

It is not reliant on short-term price movements. The company also reported non-operating expenses of ¥190 million from amortization of stock issuance costs and income tax adjustments of ¥9.35 billion. Primarily related to its crypto-related gains. The firm’s total assets and shareholder equity have expanded significantly year-over-year. It is reflecting the impact of its Bitcoin accumulation strategy on balance sheet growth.

Focus on Transparency and Shareholder Value

Metaplanet has also upgraded its automated disclosure system. It is allowing investors to receive reports and financial updates directly via email. The move aims to improve transparency and communication with both institutional and retail shareholders. A key point of focus as the company’s continues to attract global attention for its pioneering role in corporate Bitcoin adoption.

Simon Gerovich highlighted that every major corporate change. Since the start of the firm’s Bitcoin transition has been publicly disclosed and shareholder backed. “We have moved forward carefully and responsibly,” he said. Dismissing concerns about procedural shortcuts.

Positioned as Asia’s Leading Bitcoin Treasury Company

With its continued financial growth, procedural discipline and commitment to transparency. Metaplanet has positioned itself as a model for regulated Bitcoin adoption in Japan. In fact, its strategy mirrors that of MicroStrategy in the United States. It is leveraging Bitcoin as a long-term store of value amid global inflationary pressures. Consequently, as Metaplanet closes 2025, it remains one of the few publicly traded companies in Asia openly integrating Bitcoin into its corporate reserves. A bold move that could pave the way for broader institutional adoption across the region.