Metaplanet issues ¥8B zero-interest bonds to Evo Fund

Metaplanet issued ¥8 billion in zero-interest, unsecured ordinary bonds to Evo Fund, the company disclosed in a filing. The 20th series of bonds matures in April 2027 and will be redeemed at par on maturity.

The filing shows the bonds carry no interest and are unsecured. Evo Fund, a Cayman-based vehicle affiliated with Evolution Financial Group that provides structured financing for digital-asset companies, is the main subscriber to Metaplanet’s zero-interest bond programs. Under the terms, Evo Fund may request early redemption with five business days’ notice. Metaplanet may redeem part or all of the bonds if it completes future financings with the same investor.

Proceeds from the issuance are earmarked for additional purchases of Bitcoin as part of Metaplanet’s corporate treasury strategy. The company added 5,075 BTC in the first quarter, bringing total holdings to about 40,177 BTC, according to its disclosures.

Metaplanet has used similar zero-interest financings in previous transactions to support Bitcoin acquisitions. The filing states the new bond issue is expected to have only a minimal impact on consolidated results for fiscal 2026 and that the company will provide an update if any material impact arises.

At the time of the filing, Metaplanet’s shares were trading roughly 3.7% lower. Bitcoin has been trading near $77,000 in recent sessions. Market analysts say BTC needs a daily close above $80,000 to confirm an upward trend.

Market participants have noted parallels between Metaplanet’s use of debt and equity financing to accumulate Bitcoin and strategies employed by some U.S. public companies that hold the cryptocurrency on their balance sheets.