Metaplanet reported Q1 FY2026 net sales of 3.08 billion yen, up 251%, and operating profit of 2.27 billion yen, up 283%, as its Bitcoin income business expanded. However, the Tokyo-listed company posted a net loss of ¥114.5 billion ($725.6 million), driven almost entirely by a ¥116.5 billion ($737 million) non-cash Bitcoin writedown tied to Japan’s accounting treatment for crypto holdings. Metaplanet disclosed holdings of 40,177 Bitcoin, which it said represent nearly 87% of all Bitcoin held by publicly traded firms in Japan and support its position as the world’s third-largest corporate Bitcoin holder. The company said the Bitcoin-related loss did not directly affect operations or cash flow, total assets fell to 402.96 billion yen, down 12.1% from the prior quarter, and full-year FY2026 guidance remained unchanged at 16 billion yen in net sales and 11.4 billion yen in operating profit.