Live News • Aug 19
Metaplanet to Control US Bitcoin Firm in $132M Nasdaq Transaction Metaplanet is seeding Nasdaq-listed Super League Enterprise, to be renamed Superplanet, Inc., with 2,100 BTC and US$2.5 million in cash in exchange for common stock, preferred shares and warrants, and is expected to own about 95.7% of Superplanet’s common stock when the deal closes in the fourth quarter.
Superplanet is set to become a consolidated US subsidiary of Metaplanet, giving the Tokyo-listed company a separate listed Bitcoin treasury vehicle in the US market while it already holds 43,000 BTC on its own balance sheet.
Metaplanet’s shares last traded at ¥228.00, with the stock down 51.3% year to date.
This deal concentrates Metaplanet more heavily in Bitcoin and adds listing, regulatory and execution risk in a second market. Readers may wish to weigh balance sheet exposure alongside the potential benefits of broader US capital access. Reported Earnings • Aug 17
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: JP¥53.34 loss per share (down from JP¥19.91 profit in 2Q 2025). Net loss: JP¥68.3b (down JP¥79.4b from profit in 2Q 2025). Revenue missed analyst estimates by 22%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 143% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 227 percentage points per year, which is a significant difference in performance. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings have declined by 81% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 81% per year over the past 5 years. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Minor Risk Revenue is less than US$5m (JP¥431m revenue, or US$2.7m). 
