Japanese investment firm Metaplanet expects to post its first consolidated operating profit since 2017 in its next shareholder report.
On December 18, the Tokyo-based company announced its fiscal year projections for 2024, forecasting ¥890 million ($5.8 million) in revenue, a sharp increase from ¥261 million last year. It expects its operating profit to reach ¥270 million, marking a significant recovery from a ¥468 million loss in 2023.
A key factor in this recovery is Metaplanet’s Bitcoin-related operations. The firm reported ¥520 million in revenue from selling Bitcoin put options, a strategy that generates premiums while aligning with its long-term Bitcoin accumulation goals.
Metaplanet began adding Bitcoin to its balance sheet in April 2024 as part of its treasury management strategy to hedge against currency depreciation. Since then, Bitcoin has become an integral part of the company’s operations. The firm has revealed that it plans to expand its Bitcoin holdings by utilizing financial instruments such as loans, equity, and convertible bonds.
RELATED: Metaplanet Joins Coinbase, Microstrategy on CoinShares’s Blockchain Global Equity Index
Apart from its Bitcoin endeavours, Metaplanet cited strong performance in its hotel business as another key driver of its financial rebound. Through its subsidiary, Wen Tokyo Co., the company owns and operates the Royal Oak Hotel in Tokyo’s Gotanda district, which has seen robust growth this year.
“With the solid performance of our hotel business and the revenue from Bitcoin treasury operations, the company is on track to record consolidated operating profit for the first time since FY2017,” the firm noted.
Meanwhile, the firm has continued to double down its bitcoin strategy to generate revenue and increase shareholder value. It recently announced plans to continue selling Bitcoin put options as a key revenue driver. Also, on December 2, it unveiled a new shareholder benefit program in partnership with SBI VC Trade, a subsidiary of SBI Holdings. The initiative features a lottery system rewarding shareholders with Bitcoin, aiming to boost shareholder value and deepen strategic partnerships in the cryptocurrency sector.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
