Marketplace Growth and Capturing Stay-at-Home Consumption

「On the other hand, partly due to a decline in traffic from certain email channels and a decrease in search traffic, GMV for the marketplace service in the second quarter was 96.9% of the year-earlier level, while cumulative first-half GMV was ¥7.0 billion, or 97.0% year on year. The decline in traffic from certain email channels improved during the six-month interim consolidated accounting period, and open rates and other metrics recovered to pre-incident levels. Revenue grew to 113.1% year on year in the second quarter, or 105.0% on a like-for-like basis excluding the impact of changes to the revenue classification for certain services, as initiatives implemented in the previous fiscal year contributed to a higher take rate. Cumulative first-half revenue was ¥803.273 million, up 12.0% year on year, or 4.3% on a like-for-like basis.」

「In addition to higher online advertising rates, the impact of declining SEO rankings following core updates to search engines emerged as a new factor. Furthermore, the prolonged spoofed-email campaign that had used our domain name in the previous fiscal year ended February 2025, as well as the impact on user behavior of 3D Secure 2.0 introduced to comply with laws and regulations, created obstacles to GMV growth. As a result, marketplace service GMV for the period was ¥7.3 billion, or 96% of the prior-year period, while revenue was ¥717.268 million, also 96%, slightly below the previous year.」

「As a result, marketplace service GMV was ¥15.45 billion, or 93% of the previous fiscal year, while revenue was ¥1,491.235 million, also 93%, both below the previous year.」

「Meanwhile, in addition to the reversal of the effect of the TV advertising campaign conducted through March of the previous fiscal year, a sharp increase in online advertising rates across the market significantly reduced the efficiency of our advertising. In addition, spoofed emails sent for phishing purposes by unauthorized use of our domain and impersonation of other companies and government agencies became widespread. As we took various measures to resolve the issue promptly, a considerable amount of response resources was allocated to it. As a result, marketplace service GMV was ¥7.64 billion, or 93% of the prior-year period, while revenue was ¥749.963 million, or 92%, both below the previous year.」

「Meanwhile, in addition to the reversal of the effect of the TV advertising campaign conducted in the same period of the previous year, a sharp increase in online advertising rates across the market significantly reduced the efficiency of our advertising. As a result, marketplace service GMV was ¥4.05 billion, or 92% of the prior-year period, while revenue was ¥403.906 million, or 91%, both below the previous year.」

「As a result, GMV for the fiscal year was ¥16.58 billion, or 99% of the previous fiscal year, while revenue was ¥1,602.840 million, or 98%, slightly below the previous year.」

「As a result, while sharply reducing promotional expenses related to advertising and sales promotion for the service to 58% of the prior-year level, marketplace service GMV was ¥12.24 billion, or 100% of the prior-year level, and revenue was ¥1,193.152 million, also 100%.」

「As a result, while sharply reducing promotional expenses related to advertising and sales promotion for the service to 77% of the prior-year level, marketplace service GMV reached a record ¥8.23 billion, up 2.4% year on year, and revenue reached ¥815.955 million, up 1.6%, both continuing to set new records.」

「As a result, GMV was ¥4.42 billion, up 3.6% year on year, while marketplace service revenue was ¥445.766 million, up 3.4%.」

「Although “Creema” GMV achieved only steady growth of 4.8% year on year, it nevertheless reached a record high amid the headwinds.」

「GMV was ¥12.23 billion, up 4.0% year on year, while marketplace service revenue was ¥1,196.005 million, up 2.8%. Excluding the distribution of handmade masks, for which demand had increased in the previous fiscal year following the spread of COVID-19, GMV was ¥12.10 billion, up 6.4%, and marketplace service revenue was ¥1,181.960 million, up 5.1%. Despite the negative impact of the reversal following the reopening described above, GMV continued to grow steadily.」

「GMV was ¥8.04 billion, up 2.9% year on year, while marketplace service revenue was ¥802.979 million, up 2.3%. Excluding the distribution of handmade masks, for which demand had increased in the previous fiscal year following the spread of COVID-19, GMV was ¥7.93 billion, up 5.7%, and marketplace service revenue was ¥792.414 million, up 5.1%.」

「Meanwhile, as COVID-19 showed signs of subsiding to some extent in Japan and in-person consumption activity began to resume in earnest, the reversal of stay-at-home consumption from the previous year resulted in GMV of ¥4.26 billion, up 2.2% year on year, and marketplace service revenue of ¥431.061 million, up 2.4%. Excluding the distribution of handmade masks, for which demand had increased in the previous fiscal year following the spread of COVID-19, GMV was ¥4.20 billion, up 5.5%, and marketplace service revenue was ¥424.863 million, up 5.6%.」

「Excluding the distribution of handmade masks, for which demand temporarily surged in the previous fiscal year following the spread of COVID-19, GMV for the nine months ended 31 December was ¥11,376.068 million, up 20.3% year on year. Meanwhile, reflecting the reversal of that temporary demand surge, total GMV including handmade masks was ¥11,764.191 million, up 2.6% year on year, while marketplace service revenue was ¥1,163.398 million, up 1.4%.」

「Excluding the distribution of handmade masks, for which demand temporarily surged in the previous fiscal year following the spread of COVID-19, GMV for the six months ended 30 September was ¥7,508.434 million, up 19.8% year on year. Meanwhile, reflecting the reversal of that temporary demand surge, total GMV including handmade masks was ¥7,816.008 million, down 2.3% year on year. Although total GMV was slightly below the previous year, the underlying scale of the service excluding mask demand continued to grow strongly.」

「As a result, GMV for the three months ended 31 May was ¥4,172.706 million, while marketplace service revenue was ¥420.764 million. Excluding sales of handmade masks, which generated a sudden surge in demand in the previous fiscal year following the outbreak of COVID-19, GMV was ¥3,985.458 million, up 127% year on year, demonstrating continued strong growth in the underlying scale of the service.」

「As a result, GMV for the fiscal year was ¥15,419.905 million, up 171.4% year on year, while revenue was ¥1,531.636 million, up 172.7%.」

「During the nine months ended December 31, the marketplace service continued to show a strong growth trend from the previous fiscal year. In addition, various merchandising and promotional campaigns designed to capture demand for stay-at-home consumption arising from changes in lifestyles aimed at preventing the spread of COVID-19 proved effective, resulting in substantial growth in the number of marketplace users and items purchased. Accordingly, gross merchandise value for the nine months ended December 31 was ¥11,463,561 thousand and net sales were ¥1,147,320 thousand.」