Metaplanet delays preferred stock listing plan due to Japanese market structure issues

Odaily Odaily Planet Daily News Metaplanet, Japan's largest corporate Bitcoin holder, has delayed its preferred stock listing plan. CEO Simon Gerovich stated that the underdeveloped preferred stock market in Japan, regulatory rules requiring preferred dividends to be backed by sustainable cash flow, and the company's plan to pay dividends monthly—a frequency far higher than the usual one or two times per year in the Japanese market—are the main reasons for the delay. 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.