Metaplanet delays preferred stock listing plan due to Japan's market structure issues

Odaily Planet Daily News: Metaplanet, Japan's largest corporate Bitcoin holder, has delayed its preferred stock listing plan. CEO Simon Gerovich stated that the main reasons for the delay are Japan's underdeveloped preferred stock market, regulatory rules requiring preferred dividends to be backed by sustainable cash flow, and the company's plan to pay dividends monthly, which is much more frequent than the usual one or two times per year in the Japanese market. The planned instrument would be Japan's seventh listed preferred stock and the first perpetual preferred stock. Metaplanet previously announced the launch of two types of listed preferred stocks, Mars and Mercury.