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Metaplanet Says MARS and MERCURY Preferred Share Launch Is Taking Longer

According to CEO Simon Gerovich, Metaplanet has delayed its planned MARS and MERCURY preferred share listing in Japan due to market underdevelopment, dividend rules, and the complexity of monthly payouts.

Fact Check
All four sources consistently confirm the core claim: Metaplanet's May 13, 2026 earnings statement and CEO Simon Gerovich explicitly acknowledged that the MARS and MERCURY preferred share launch is taking longer than expected, with the company still reviewing and building infrastructure for monthly payouts and Bitcoin-related income cash flows. CoinDesk provides the most detailed account, citing specific regulatory and structural obstacles including Japan's underdeveloped preferred equity market and the need for new monthly dividend infrastructure. Crypto.news and CoinPost independently corroborate Gerovich's statements. Decrypt further confirms the delay. No source contradicts any element of the claim. The only minor nuance is that CoinDesk and CoinPost reference Gerovich's own X post as the primary source, which could not be directly fetched due to tool limits, but the convergence of four independent news outlets reporting the same details from the same May 13 earnings event provides very high confidence.
Summary

Metaplanet has delayed the planned listing of its MARS and MERCURY preferred shares in Japan, extending earlier indications that the launch was taking longer than expected. CEO Simon Gerovich said the proposed deal would have been Japan’s seventh listed preferred stock and the country’s first perpetual preferred share, but cited an underdeveloped market, regulatory requirements that dividends be supported by sustainable cash flow, and the company’s plan for monthly dividends as key obstacles. The update indicates the offering remains on hold while Metaplanet continues evaluating the structure and feasibility of the issuance.

Terms & Concepts
  • Perpetual preferred shares: A class of preferred stock with no maturity date, typically structured to pay dividends and rank ahead of common shares for distributions.
  • Monthly dividend: A dividend schedule under which investors receive payments every month instead of less frequent intervals such as quarterly.
  • Bitcoin income cash flows: Revenue or cash flow streams tied to Bitcoin holdings or Bitcoin-related business activity.