Komori
Zozo (3092) · InitiativeWorsened

Diversifying Revenue Sources Through the BtoB Business and Transforming the Business Model

First written in FY2016. 13 of 32 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2026.

32entries
11years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2017-Q2 – FY2018-Q2AdvancedFY2019-Q2 – FY2021WorsenedFY2024-Q2 – FY20262016: 320162017: 320172018: 320182019: 320192020: 420202021: 420212022: 420222023: 320232024: 220242025: 120252026: 22026
Same theme, other companies
Development of New B2B and B2C BusinessesA theme 19 companies write about · 0 as a headwind · 19 as a tailwind

Zozo moved to the "Worse" side of this theme in 2023.

The whole theme swung hardest in 2020: 1 of 6 companies on the "Worse" side.

0 other companies' latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 19 companies compared. The sentences above are computed from all 19.
Full recordFilings, disclosures and news, newest first
  1. FY2026WorsenedAnnual report

    「GMV for the consolidated fiscal year was ¥8,377 million, down 36.1% year on year, accounting for 1.3% of total GMV, compared with 2.1% in the previous year. Revenue (consignment sales commissions) was ¥1,325 million, down 38.2% year on year.」

    The decline in GMV and consignment sales commissions in the BtoB business continued, and its share of total GMV also fell.
  2. 2026-04-30WorsenedEarnings

    「GMV in the BtoB business was ¥8,377 million, down 36.1% year on year, and accounted for 1.3% of total GMV, compared with 2.1% in the previous fiscal year. Revenue, consisting of consignment sales commissions, was ¥1,325 million, down 38.2%.」

    GMV, revenue and the business’s share of total GMV declined in the BtoB business.
  3. FY2026-H1WorsenedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the six-month interim consolidated period was ¥3,991 million, down 36.3% year on year, accounting for 1.3% of total GMV, compared with 2.2% in the previous year. Revenue (consignment sales commissions) was ¥660 million, down 37.0% year on year. As of the end of September 2025, the number of contracted sites was 29, compared with 33 at the end of June 2025.」

    GMV, consignment sales commissions and the number of contracted sites in the BtoB business all declined, with contracted sites falling from 33 to 29.
  4. FY2025-H1WorsenedAnnual report

    「GMV for the six-month interim consolidated period was ¥6,263 million, down 5.5% year on year, accounting for 2.2% of total GMV, compared with 2.6% in the previous year. Revenue (consignment sales commissions) was ¥1,047 million, down 4.1% year on year. As of the end of September 2024, the number of contracted sites was 31, compared with 32 at the end of June 2024.」

    GMV, consignment sales commissions and the number of contracted sites in the BtoB business all declined.
  5. FY2024-Q3WorsenedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the nine months ended 31 December was ¥10,700 million, down 9.7% year on year, accounting for 2.5% of total GMV, compared with 2.9% in the previous year. Revenue (consignment sales commissions) was ¥1,670 million, down 14.3% year on year. As of the end of December 2023, the number of contracted sites was 33, compared with 34 at the end of September 2023.」

    GMV and consignment sales commissions in the BtoB business declined year on year, and the number of contracted sites also fell from 34 to 33.
  6. FY2024-Q2WorsenedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the six months ended 30 September was ¥6,629 million, down 9.2% year on year, accounting for 2.6% of total GMV, compared with 2.9% in the previous year. Revenue (consignment sales commissions) was ¥1,092 million, down 13.2% year on year. As of the end of September 2023, the number of contracted sites was 34, compared with 35 at the end of June 2023.」

    GMV and consignment sales commissions in the BtoB business declined year on year, and the number of contracted sites also fell from 35 to 34.
  7. FY2024-Q1Narrowing declines in GMV and commissions, with fewer contracted sitesAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the three months ended 30 June was ¥3,443 million, down 6.4% year on year, accounting for 2.6% of total GMV, compared with 2.9% in the previous year. Revenue (consignment sales commissions) was ¥549 million, down 11.4% year on year. As of the end of June 2023, the number of contracted sites was 35, compared with 36 at the end of March 2023.」

    GMV declined 6.4% year on year and consignment sales commissions declined 11.4% even after support for multiple brands ended in the previous fiscal year. Although the declines narrowed from the substantial decreases in the previous year, the number of contracted sites fell from 36 to 35.
  8. FY2023-Q3WorsenedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the nine months ended 31 December was ¥11,855 million, down 42.0% year on year, accounting for 2.9% of total GMV, compared with 5.4% in the previous year. Revenue (consignment sales commissions) was ¥1,950 million, down 48.7% year on year. As of the end of December 2022, the number of contracted sites was 37, compared with 39 at the end of September 2022.」

    Following the withdrawal of support for a major brand, GMV and consignment sales commissions continued to decline, and the number of contracted sites also fell from 39 to 37.
  9. FY2023-Q2Continued decline in GMV and commissions following the withdrawal of supportAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the six months ended 30 September was ¥7,296 million, down 41.4% year on year, accounting for 2.9% of total GMV, compared with 5.4% in the previous year. Revenue (consignment sales commissions) was ¥1,258 million, down 48.1% year on year. As of the end of September 2022, the number of contracted sites was 39, compared with 40 at the end of June 2022.」

    Following the withdrawal of support for a major brand, GMV declined 41.4% year on year and consignment sales commissions declined 48.1%. The number of contracted sites also fell from 40 to 39.
  10. FY2023-Q1Lower GMV and commissions following the withdrawal of support for a major brandAnnual report

    「In the BtoB business, although support for a brand accounting for a large portion of GMV was withdrawn in the fourth quarter of the previous consolidated fiscal year, the brands that continue to receive support are actively increasing their use of their own e-commerce sites.」

    Following the withdrawal of support for a major brand, GMV was ¥3,677 million, down 41.1% year on year, consignment sales commissions were ¥620 million, down 47.9%, and the number of contracted sites reached 40. The company explained that brands continuing to receive support were making progress in using their own e-commerce sites.
  11. FY2022Higher GMV and commissions, with fewer contracted sitesAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the consolidated fiscal year was ¥26,682 million, up 19.3% year on year, accounting for 5.2% of total GMV, compared with 5.3% in the previous year. Revenue (consignment sales commissions) was ¥4,945 million, up 16.0% year on year. As of the end of March 2022, the number of contracted sites was 42, compared with 48 at the end of December 2021.」

    GMV and consignment sales commissions in the BtoB business increased, while the number of contracted sites declined from 48 to 42.
  12. FY2022-Q3AdvancedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the nine months ended 31 December was ¥20,447 million, up 23.0% year on year, accounting for 5.4% of total GMV, compared with 5.5% in the previous year. Revenue (consignment sales commissions) was ¥3,805 million, up 20.0% year on year. As of the end of December 2021, the number of contracted sites was 48, unchanged from the 48 at the end of September 2021.」

    GMV in the BtoB business was ¥20,447 million and consignment sales commissions were ¥3,805 million, both higher year on year. The number of contracted sites was 48, unchanged from the previous quarter-end.
  13. FY2022-Q2Continued increase in GMV and decline in contracted sitesAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the six months ended 30 September was ¥12,458 million, up 17.3% year on year, accounting for 5.4% of total GMV, compared with 5.7% in the previous year. Revenue (consignment sales commissions) was ¥2,426 million, up 15.6% year on year. As of the end of September 2021, the number of contracted sites was 48, compared with 49 at the end of June 2021.」

    GMV and consignment sales commissions increased, while the number of contracted sites declined from 49 to 48.
  14. FY2022-Q1Higher GMV and fewer contracted sitesAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites, as well as logistics operations. GMV for the three months ended 30 June was ¥6,246 million, up 4.8% year on year, accounting for 5.3% of total GMV, compared with 6.3% in the previous year. Revenue (consignment sales commissions) was ¥1,190 million, up 2.5% year on year. As of the end of June 2021, the number of contracted sites was 49, compared with 53 at the end of March 2021.」

    GMV and consignment sales commissions in the BtoB business increased, while the number of contracted sites declined from 53 to 49.
  15. FY2021AdvancedAnnual report

    「In the BtoB business, GMV for the consolidated fiscal year was ¥22,362 million, up 85.9% year on year, accounting for 5.3% of total GMV, compared with 3.5% in the previous year. Revenue (consignment sales commissions) was ¥4,264 million, up 80.3% year on year.」

    GMV and consignment sales commissions in the BtoB business, including Fulfillment by ZOZO, increased significantly. The number of contracted sites reached 53 at the end of March 2021.
  16. FY2021-Q3AdvancedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites. GMV for the nine months ended 31 December was ¥16,629 million, up 117.9% year on year, accounting for 5.5% of total GMV, compared with 3.0% in the previous year. Revenue (consignment sales commissions) was ¥3,172 million, up 105.3% year on year.」

    GMV in the BtoB business was ¥16,629 million and consignment sales commissions were ¥3,172 million, both significantly higher year on year. The number of contracted sites also increased from 54 to 55.
  17. FY2021-Q2AdvancedAnnual report

    「In the BtoB business, we provide outsourced development and operation of brands’ own e-commerce sites. GMV for the six months ended 30 September was ¥10,625 million, up 140.9% year on year, accounting for 5.7% of total GMV, compared with 2.8% in the previous year. Revenue (consignment sales commissions) was ¥2,098 million, up 114.8% year on year. As of the end of September 2020, the number of contracted sites was 54, compared with 51 at the end of June 2020.」

    The number of contracted sites in the BtoB business increased from 51 to 54, while GMV and consignment sales commissions also increased significantly year on year.
  18. FY2021-Q1AdvancedAnnual report

    「In the BtoB business, we launched Fulfillment by ZOZO in October 2019 and continue to focus on the service. It is dedicated to fulfillment support and aims to minimize lost opportunities on both ZOZOTOWN and brands’ own e-commerce sites by centralizing inventory for brands operating stores on ZOZOTOWN.」

    We continued to focus on the fulfillment support service. GMV was ¥5,959 million, up 140.8% year on year, consignment sales commissions were ¥1,161 million, up 117.6%, and the number of contracted sites reached 51.
  19. FY2020AdvancedAnnual report

    「In the BtoB business, GMV for the consolidated fiscal year was ¥12,032 million, up 33.5% year on year, accounting for 3.5% of total GMV, compared with 2.8% in the previous year. Revenue (consignment sales commissions) was ¥2,365 million, up 15.0% year on year. As of the end of March 2020, the number of contracted sites was 50, compared with 47 at the end of December 2019.」

    GMV, consignment sales commissions and the number of contracted sites in the BtoB business all increased, with the number of contracted sites reaching 50.
  20. FY2020-Q3AdvancedAnnual report

    「In the BtoB business, the company launched Fulfillment by ZOZO, a service specializing in fulfillment support, in the third quarter of the fiscal year. The service is intended for brands operating stores on ZOZOTOWN and aims to minimize lost sales opportunities by centralizing inventory between ZOZOTOWN and the brands' own e-commerce sites.」

    The BtoB business launched a fulfillment support service, and the number of contracted sites increased from 28 at the end of September 2019 to 47 at the end of December. GMV was ¥7,631 million.
  21. FY2020-Q2AdvancedAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first half of the fiscal year was ¥4,411 million, up 14.8% year on year, while its share of total GMV was 2.8%, compared with 2.7% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥976 million, up 8.7% year on year. As of the end of September 2019, the number of contracted sites was 28, compared with 25 at the end of June 2019.」

    The number of contracted sites increased from 25 to 28, while GMV reached ¥4,411 million and contracted sales commissions reached ¥976 million.
  22. FY2020-Q1AdvancedAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first quarter of the fiscal year was ¥2,474 million, up 25.0% year on year, while its share of total GMV was 3.1%, compared with 2.8% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥533 million, up 16.0% year on year. As of the end of June 2019, the number of contracted sites was 25, compared with 23 at the end of March 2019.」

    The number of contracted sites increased from 23 to 25, while GMV and contracted sales commissions also increased year on year.
  23. FY2019-Q3AdvancedAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first nine months of the fiscal year was ¥6,656 million, up 23.3% year on year, while its share of total GMV was 2.8%, compared with 2.7% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥1,516 million, up 30.6% year on year. As of the end of December 2018, the number of contracted sites was 18, compared with 12 at the end of September 2018.」

    The number of contracted sites increased from 12 to 18, while GMV reached ¥6,656 million and contracted sales commissions reached ¥1,516 million.
  24. FY2019-Q2AdvancedAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first half of the fiscal year was ¥3,843 million, up 21.9% year on year, while its share of total GMV was 2.7%, compared with 2.6% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥898 million, up 34.7% year on year. As of the end of September 2018, the number of contracted sites was 12, compared with 9 at the end of June 2018.」

    The number of contracted sites increased from 9 to 12, while GMV reached ¥3,843 million and contracted sales commissions reached ¥898 million.
  25. FY2019-Q1Fewer contracted sites but higher GMV and commissionsAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first quarter of the fiscal year was ¥1,980 million, up 24.5% year on year, while its share of total GMV was 2.8%, compared with 2.7% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥460 million, up 39.2% year on year. As of the end of June 2018, the number of contracted sites was 9, compared with 8 at the end of March 2018.」

    BtoB GMV and contracted sales commissions increased, while the number of contracted sites reached 9. The business mix has changed from the previously disclosed scale of 35 to 36 sites.
  26. FY2018AdvancedAnnual report

    「BtoB GMV for the fiscal year was ¥7,536 million, up 21.2% year on year, while its share of total GMV was 2.8%, compared with 2.9% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥1,642 million, up 22.7% year on year.」

    The company continued to undertake the development and operation of brands' own e-commerce sites, and both GMV and contracted sales commissions increased year on year.
  27. FY2018-Q2RestatedAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first half of the fiscal year was ¥3,152 million, up 8.7% year on year, while its share of total GMV was 2.6%, compared with 3.4% in the same period of the previous year. Revenue, consisting of contracted sales commissions, was ¥667 million, up 0.7% year on year.」

    The company continued to undertake the development and operation of brands' own e-commerce sites. GMV increased 8.7% year on year, but its share of total GMV declined from 3.4% to 2.6%.
  28. FY2018-Q1RestatedAnnual report

    「The BtoB business undertakes the development and operation of brands' own e-commerce sites. GMV for the first quarter of the fiscal year was ¥1,590 million, down 5.5% year on year, while its share of total GMV was 2.7%, compared with 4.0% in the same period of the previous year.」

    The company continued to undertake the development and operation of brands' own e-commerce sites. GMV and its share of total GMV both declined from the same period of the previous year.
  29. FY2017-Q3RestatedAnnual report

    「In response to brands increasingly focusing not only on attracting customers to and improving conversion rates on their own e-commerce sites, but also on coordination with physical stores, the company is moving away from its traditional business model. As a result, GMV has declined significantly compared with the same period of the previous year, but this is fully in line with management policy. As of the end of December 2016, the BtoB business had been contracted to build and operate 36 sites, compared with 35 sites at the end of March 2016.」

    The company continued its policy of moving away from the traditional BtoB business model. The number of contracted sites increased from 35 to 36, while GMV declined 57.3% year on year.
  30. FY2017-Q2RestatedAnnual report

    「In response to brands increasingly focusing not only on attracting customers to and improving conversion rates on their own e-commerce sites, but also on coordination with physical stores, the company is moving away from its traditional business model. As a result, GMV has declined significantly compared with the same period of the previous year, but this is fully in line with management policy. As of the end of September 2016, the BtoB business had been contracted to build and operate 35 sites, unchanged from 35 sites at the end of March 2016.」

    The company continued its policy of moving away from the traditional BtoB business model. The number of contracted sites remained unchanged at 35 from the end of the previous fiscal year, while GMV declined 62.0% year on year.
  31. FY2017-Q1AdvancedAnnual report

    「In response to brands increasingly focusing not only on attracting customers to and improving conversion rates on their own e-commerce sites, but also on coordination with physical stores, the company is moving away from its traditional business model. As a result, GMV has declined significantly compared with the same period of the previous year, but this is fully in line with management policy.」

    The company continued to move away from the traditional BtoB business model, resulting in a 61.6% year-on-year decline in BtoB GMV.
  32. FY2016First statedAnnual report

    「To expand the scale of its operations and diversify revenue sources, the Group operates a BtoB business that undertakes the development of e-commerce systems, logistics and other services for e-commerce sites independently operated by apparel manufacturers.」

    The company explains its BtoB business aimed at diversifying revenue sources while also moving away from its traditional business model.
Moved together

"New Shop Openings and Expansion of Items Offered" moved the same way as this thread, in the same document, in 13 of its 32 moves.

131010987★123456
  1. ★This thread
  2. 1New Shop Openings and Expansion of Items Offered13×
  3. 2Launch of Advertising Business and Monetization of Advertising on WEAR10×
  4. 3A revolution in clothing selection through the Omakase subscription service and size search tailored to you10×
  5. 4Growth in Merchandise Transaction Volume, Sales and Profits9×
  6. 5Margin improvement driven by growth in ZOZOUSED and other revenue8×
  7. 6Capital and business alliance with Z Holdings and business collaboration through PayPay Mall and other channels7×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Zozo's next results are scheduled for 2026-10-29. Read the earnings preview It last moved in the Earnings of 2026-04-30: "Worsened".
News
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