The key points regarding MetaPlanet’s acquisition of Siiibo Securities are as follows: It is still difficult to list MetaPlanet’s **preferred shares** on the TSE (Tokyo Stock Exchange). Therefore, without waiting for a public listing, MetaPlanet can use its own Type I securities license to privately place preferred shares and other securities with investors. This enables immediate fundraising and share distribution. Meaning of “private placement” (financial terminology in Japan): Private placement (shibō) = Private Placement — Unlike public offerings (kōbo), which involve widespread sales to the general public, private placement involves non-public sales to a limited group of investors, such as qualified institutional investors or individuals meeting specific criteria. Compared to public offerings, private placements have significantly reduced regulatory review and disclosure obligations, allowing for faster execution. “Distribution” here means “sale, allocation, or provision.” Siiibo Securities (expected to be renamed MetaPlanet Securities after acquisition) originally operated a platform that sold corporate-issued private placement bonds (shibōsai) online to individual investors. By acquiring this platform and the Type I license, MetaPlanet gains the ability to privately place its own preferred shares and, in the future, Bitcoin-linked products—this is the core point. Why this matters: - It allows immediate delivery of securities to investors without waiting for a listing (leveraging a base of 250,000 shareholders). - It has zero impact on CEBE (Bitcoin Financial Analysis) (no new preferred debt is created). - It emphasizes the strategic value of acquiring both the license and distribution infrastructure. In simple terms, this refers to a method of directly selling or distributing securities to a limited group of investors without going public—enabling rapid action while navigating regulatory constraints.