Metaplanet Publishes 2026 Forecast After Bitcoin Valuation Loss

Metaplanet Inc., a Tokyo listed Bitcoin treasury firm released a major earnings update. The company revised its full year forecast for fiscal 2025 and shared its outlook for 2026. The update followed a large accounting loss tied to Bitcoin price decline.

Metaplanet said its business operations performed better than expected. But falling Bitcoin prices forced the company to record a large impairment loss on its holdings. The firm now holds 35,102 BTC. This is a sharp rise from 1,762 BTC one year earlier. Despite the paper loss management stressed that its long term Bitcoin strategy remains unchanged.

FY2025 Results Show Strong Operations

In fiscal year 2025 Metaplanet raised its revenue forecast to ¥8.9 billion. It increased its operating profit estimate to ¥6.3 billion. The main driver was its Bitcoin income generation business, which uses Bitcoin related options strategies.

In the fourth quarter, revenue from this segment exceeded expectations. The company said it earned more than planned because it expanded its funding sources. It issued preferred stock and set up a large credit facility. In result, it could deploy capital more flexibly. At the same time, the hotel business remained stable. Together, these factors pushed full year performance above earlier targets. Management said the strong results show that its operating model works even when market conditions change.

Bitcoin Impairment Creates Large Paper Loss

Alongside the earnings upgrade, Metaplanet recorded a major Bitcoin impairment loss. The company booked a ¥104.6 billion loss due to lower Bitcoin prices at the end of December 2025. This adjustment follows Japanese accounting rules, which require Bitcoin to be marked to market each quarter.

Because of this Metaplanet expects to report a net loss of ¥76.6 billion for FY2025. But the company stressed that this loss is non cash. It doesn’t affect its actual Bitcoin holdings or daily operations. Management also noted that foreign exchange effects partly offset the loss. A weaker yen created gains on U.S. dollar assets. After considering currency effects, the net reduction in Bitcoin asset value was about ¥82 billion. The firm said investors should view the impairment together with these currency factors.

2026 Forecast Signals Confidence

Looking forward Metaplanet shared an optimistic forecast for fiscal 2026. The company expects revenue to reach ¥16 billion. It also forecasts operating profit of ¥11.4 billion. Most of this growth should come from its Bitcoin income generation business. The firm believes that its larger Bitcoin position will support stable premium income. It also expects steady results from its hotel operations. Still, Metaplanet didn’t provide net profit guidance. It said Bitcoin prices are too volatile to predict accurately.

Metaplanet remains one of Asia’s most aggressive corporate Bitcoin holders. Its strategy focuses on growing Bitcoin per share over time. Even after the impairment loss, management said it will continue building its digital asset balance sheet. The company plans to release final FY2025 earnings on February 16. Until then, it says transparency will remain a top priority.