Metaplanet (3350), the largest bitcoin Japan’s treasury company forecasts full-year operating profits will rise 81% this year after underwriting premiums rise 17-fold in 2025.
The company, which holds 35,102 BTC, made 6.29 billion yen ($40.8 million) in operating profits last year. Premiums on subscription options increased to 7.98 billion yen from 691 million in 2024. Total revenue increased 738% to 8.9 billion yen.
Still, as the price of bitcoin fell from an all-time high near $125,000 to end the year below $90,000, Metaplanet posted a non-cash valuation loss of 102.2 billion yen, dragging net income to a loss of 95 billion yen ($605 million).
The Tokyo-based company still holds more than $2.4 billion in bitcoin and expects to generate almost all of its revenue in 2026 from these holdings.
It currently has around $1.2 billion in unrealized losses, given the BTC price drop to $68,550.
The company said it expects full-year revenue to grow nearly 80% in 2026 to 16 billion yen, with operating profit reaching 11.4 billion yen. The shares rose 0.31% to 326.0 yen on Monday.
