Simon Gerovitch Cuts Stake in Metaplanet (3350) to 14.12% | Large Shareholding Report

A large shareholding report (EDINET filing) shows that Simon Gerovitch has reduced his stake in Metaplanet (3350) to 14.12%. The Russian individual investor executed this sale, which represents a substantial reduction in holdings. Metaplanet operates in Bitcoin-related business, Bitcoin treasury business, and hotel operations, with Gerovitch's 14.12% stake representing a significant position within the company's equity base. The estimated proceeds from the sale reached ¥14.62 billion, with the stock trading at ¥305 per share at the time of disclosure.

This is not Gerovitch's first reduction in his Metaplanet position. His initial large shareholding report dated September 17, 2025 showed a stake of 17.86%. The stake has since declined by 3.74 percentage points to reach the current 14.12%. With three filings submitted overall, the investor has been systematically trimming his position across multiple transactions.

Gerovitch's place within Metaplanet's shareholder structure illustrates his prominence. Evo Fund holds the largest stake at 20.82%, followed by Capital Research and Management Company at 11.54%. Gerovitch's 14.12% positions him between these two entities as an important minority investor. Additional reporting parties include MMXXVentures Limited at 5.62% and Citigroup Global Markets Limited at 1.28%.

Metaplanet's valuation metrics at the filing date provide context for the transaction. The stock traded at a PBR of 0.80x, below book value, and sat at only the 14th percentile of its 52-week range, closer to recent lows than highs.

*Speculation: As a Russian individual investor executing a phased reduction, Gerovitch may be pursuing risk mitigation in response to shifting market conditions rather than booking gains after appreciation, particularly given the stock's proximity to 52-week lows and elevated volatility profile.