The Bitcoin Credit Stack
rates are percent a year, continuously compounded · figures as of 2026-10-15 · read 2026-10-16 04:01 UTC
Market › Corporate › Metaplanet › Class B Preferred Shares ("MERCURY")

Class B Preferred Shares ("MERCURY")

metaplanet_class_b

Terms

IssuerMetaplanet Inc.
Tickernot stated
Typeperpetual preferred
Rate policyfixed
Rate policy terms
TitleClass B Preferred Shares ("MERCURY")
Listingunlisted (非上場); TSE listing in preliminary consultation. If not listed by the 20th business day after 2026-12-29, holders may put ALL shares at JPY 1,000 plus accumulated dividends
Conversionconvertible; initial conversion price JPY 1,000
Issue priceJPY 900 per share; JPY 21,249,000,000 raised
Stated amountJPY 1,000 notional per share (liquidation preference)
Stated rate %4.9
Dividend paymentquarterly, JPY 12.25 per share; record dates Mar 31, Jun 30, Sep 30, Dec 31
Cumulativeyes
Seniority rank3
Maturitynot stated
Liquidation preference1000
Outstanding23,610,000,000 JPY
CurrencyJPY
USD translation (issuer-filed)not stated
Statusoutstanding
Source for the seniority ranking

Articles (https://contents.xj-storage.jp/xcontents/33500/2dfc62c3/2fbd/4369/ad61/a401d6c68a69/140120250731526696.pdf): "Class A Perpetual Preferred Shares shall be the first, Class B Perpetual Preferred Shares shall be the second, and Common Shares shall be the third" — Class A is unissued, so nothing ranks between. Behind the bonds, which rank ahead of preferred and common (https://contents.xj-storage.jp/xcontents/33500/105354bc/b7b8/46a1/bbf8/e9088bc54d76/S100YWMP.pdf), and the secured facility.

Market

collecting (no market price is served for this instrument, so no yield, attachment point or coverage is derived)

Issuer bitcoin holdings

Holdings, read from a filing43,000 BTC as of 2026-08-18 ·

Valued in the payload at $82,161 as at 2026-10-15. Holdings and price carry different as-of dates and are not restated to a common one.

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As of 2026-10-14

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