Metaplanet repurchased 73,981,400 treasury shares for ¥19.3 billion on October 14, using roughly one-third of its ¥60 billion buyback authorization announced a day earlier. The Japan-listed Bitcoin treasury company paid ¥261 per share, matching its October 13 closing price. It also finalized terms for ¥52 billion of unsecured, zero-coupon convertible bonds due in 2031, setting the conversion price at ¥339, or 29.89% above the October 13 close. Full conversion would result in new shares equivalent to 11.24% of shares outstanding at the end of September. Metaplanet said the repurchase is intended to improve capital efficiency, increase Bitcoin held per share and offset stock-market pressure associated with convertible-bond hedging. Bond proceeds are allocated principally to repaying Bitcoin-collateralized borrowing and funding further repurchases.