Metaplanet raised its 2025 earnings outlook despite a large non cash Bitcoin impairment and signaled stronger growth in 2026.
Major corporate Bitcoin BTC $79 393 24h volatility: 2.4% Market cap: $1.59 T Vol. 24h: $25.43 B holder Metaplanet recently released the earnings update for fiscal 2025 and early forecasts for 2026.
The update follows a major accounting loss that the firm faced last year due to Bitcoin price drop.
Metaplanet raised its full year revenue and profit outlook for 2025 and said its core operations performed better than expected.
Management said the Bitcoin drawdown does not change its long term plan.
*Notice Regarding Revision of Full-Year Earnings Forecast for Fiscal Year Ending December 2025, Recording of Bitcoin Impairment Loss, and Announcement of Full-Year Earnings Forecast for Fiscal Year Ending December 2026* pic.twitter.com/VIKYRYb981
— Metaplanet Inc. (@Metaplanet) January 26, 2026
Metaplanet, the fourth largest corporate Bitcoin holder worldwide, currently holds 35,102 BTC. One year ago, the firm held just 1,762 BTC.
In Q4 alone, the Japan-listed company acquired 4,279 Bitcoin, as per the CEO Simon Gerovich’s previous X post.
メタプラネットは、2025年12月期第4四半期を通じて4279 BTCを約698.55億円で取得（1BTCあたり約1633万円）し、2025年の年初来BTCイールド568.2%を達成しました。2025年12月30日現在、当社の保有量は35,102 BTCで、約5597.26億円（1BTCあたり約1595万円）で取得しています。 pic.twitter.com/R041V9UNa4
— Simon Gerovich (@gerovich) December 30, 2025
The large balance led to accounting pressure when Bitcoin prices fell in Q4 2025. As a result, Metaplanet recorded an impairment loss of roughly 104.6 billion yen in its holdings during this quarter.
This led to an expected net loss of 76.6 billion yen for fiscal 2025.
However, a weaker yen boosted the value of U.S. dollar assets and cut the net reduction in Bitcoin asset value to about 82 billion yen.
The company explained that this is a non-cash loss under accounting rules and does not affect daily operations or Bitcoin holdings.
Metaplanet Raises 2025 Earnings Forecast
Despite the impairment, Metaplanet raised its fiscal 2025 earnings forecast. Revenue guidance increased from 6.8 billion yen to 8.905 billion yen, while operating profit was revised up to 6.287 billion yen.
The improvement was driven by the company’s Bitcoin income generation business, which leverages options linked to Bitcoin markets. In the fourth quarter, earnings exceeded expectations as the firm expanded its funding base.
2026 Outlook Remains Aggressive
For fiscal 2026, Metaplanet forecast revenue of 16 billion yen and operating profit of 11.4 billion yen.
Most of the growth is expected to come from its Bitcoin income business, supported by its ambitious BTC balance goal for this year.
Metaplanet aims to accumulate 100,000 BTC by the end of 2026. The firm said it will continue building Bitcoin per share and remains committed to its balance sheet approach.
Final fiscal 2025 results are scheduled for release on Feb. 16.
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