Capital Research Becomes Metaplanet’s Largest Shareholder

Key Highlights: 

• Capital Research and Management Company has become the largest shareholder of Metaplanet. 
• Capital Research now owns 11.39% of the stake as of September 17, 2025. 
• The change took place after Metaplanet issued new shares in 2025 for its Bitcoin acquisition plans. 

Metaplanet Inc., announced on its social media platform X (formerly known as Twitter) that its shareholder structure has changed. According to the announcement, the U.S.-based Capital Research and Management Company (subsidiary of Capital Group) is now the biggest major shareholder as of September 17, 2025. This update was confirmed in an amended large shareholding report that the company filed with the Kanto Local Finance Bureau on September 25, 2025.

Change in the Largest Shareholder

This change in shareholder marks an important shift in Metaplanet’s ownership structure. Before this change, the largest shareholder was NATIONAL FINANCIAL SERVICES LLC, with Citibank, N.A Tokyo Branch acting as local custodian for them. As of June 30, 2025, it had 844,054 voting rights, which was equal to a 12.90% ownership stake in the company.

However, after Metaplanet issued more shares and the number of total voting rights increased, NATIONAL FINANCIAL SERVICES LLC’s ratio then dropped to 7.40% as of September 17, 2025 and made it the company’s second-largest shareholder.

Capital Research and Management Company, which was the third-largest shareholder with 8.31% ownership in late August 2025, has managed to increase its holdings to 1,299,185 voting rights, which is an 11.39% stake. This rise helped the company move to the top position in Metaplanet’s shareholder rankings.

Profile of Capital Research and Management Company

The new largest shareholder of Metaplanet, Capital Research and Management Company, is an investment advisory firm that is based at 333 South Hope Street in Los Angeles, California. For this shareholder, Capital Group is the parent company and Capital Research is its subsidiary. Since Capital Group is well-known and is one of the oldest and most respected invested management firms globally, this highlights Capital Research’s strong backing and credibility.

The company is represented by Secretary Donald H. Rolfe, and the firm has a long track record in global equity and fixed-income markets. While its total capital contribution is not disclosed, it is known for its large institutional and retail client base.

Metaplanet has also confirmed that Capital Research has no capital personnel, or business ties with the company requiring disclosure under Tokyo Stock Exchange rules, apart from its shareholder role.

Decline of NATIONAL FINANCIAL SERVICES LLC’s Stake

The decline of NATIONAL FINANCIAL SERVICES LLC’s ownership was not due to any known sell-off but it was due to significant capital raises made by Metaplanet in 2025. Metaplanet plans to acquire 210,000 BTC by 2027, and for this intent, the company has issued hundreds of millions of new shares and raised over $1.4 billion in September 2025. The company is also planning to expand its authorized share capital to 2.7 billion shares in the future for the same reason. This significant increase in the issued shares and voting rights diluted the percentage ownership of existing shareholders, if their holdings remained unchanged, which was the case in NATIONAL FINANCIAL SERVICES LLC’s case. So consequently, its stake fell from 12.90% to 7.40%.

At the same time, Capital Research and Management Company was actively increasing its holding during these offerings, and it eventually lifted its ownership from 8.31% to 11.39% and overtook NATIONAL FINANCIAL SERVICES LLC as Metaplanet’s largest shareholder as of September 17, 2025.

Voting Rights and Shareholder Composition

Capital Research’s rise from third to first place in ownership through an amended large shareholding report filed on September 25, 2025, shows 129,918,500 shares and securing the top spot. This shift was followed by a surge in Metaplanet’s voting rights, which grew from 6.54 million in June to 11.40 million by mid-September, which diluted the shares of the existing holders. NATIONAL FINANCIAL SERVICES LLC’s shares stayed at 84,405,418, but its ownership ratio fell from 12.90% to 7.40% as a result.

Future Outlook and Broader Implications for Metaplanet

Metaplanet in the press-release has stressed that the ownership change will not have any impact on its business strategy or outlook. However, the rise of Capital Research, a globally respected long-term investor, at the top spot indicates growing international interest in Metaplanet’s future. Analysts believe that this could increase market confidence, as having a top U.S. asset manager shows changing shareholder patterns and growing international investment in Japanese stocks.

Also Read; Three Firms to Tokenize $1B in Housing Projects on Solana