Worth reading
45Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
275
¥100 million (core operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFY2025.6 通期（4Q）8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,926 million+3.0%
Operating profit¥275 100 million +46.0%core operating profit
Results for the three months of the current quarter売上収益・コア営業利益、Marketplace・Fintech・USの四半期単独推移を掲載。個別の実績額は本文テキストではNot disclosed
Full-year earnings forecast
FY2025.6
Revenue2,000-2,100億円
Core operating profit220-250億円
FY2026.6
Revenue2,000-2,100億円
Core operating profit280-320億円
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
売上目標は未達、コア営業利益は業績予想を上振れNew initiatives
- AI-Native Company化に向けたプロダクト・組織改革
- 100名規模のAI Task Force発足
- メルカリ鑑定センターの新設
- AIを用いた不正利用検知・排除
- 自社越境取引の展開国拡大
- Fintechでのメルカードゴールド・分割払いの拡大
- USでのファッションカテゴリー戦略と配送プラン・交換プログラムの実施
Key KPIsA metric the company considers important as a management benchmark.
- Marketplace GMV growth rate+4%Year on year against the same period last year+4%
- Cross-border transaction GMV¥900 million
- Number of Mercard cards issued500 10,000 passes
- Fintech債権残高+32%Year on year against the same period last year+32%
- USコア営業利益¥9 million
- 従業員のAIツール利用率95 %
- コード生成のAI作成比率70 %
- Development output per engineer+64%Year on year against the same period last year+64%
Segment results
Marketplace
GMV成長率前年同期比+4%
調整後コア営業利益率38%（メルカリ ハロ除く43%）
Fintech
Core operating profit¥4.5 billion
Receivables balanceUp 32% year on year
US
Core operating profit¥900 million
GMV成長率前年同期比-17%
Medium-term management plan targets
RevenueFY2024.6からFY2027.6までCAGR二桁成長
Core operating profitFY2024.6からFY2027.6までCAGR25%以上
Fintechコア営業利益FY2027.6に100億円以上
Market Size / Share
エンタメホビーカテゴリー市場規模2023年に1,200億ドル（17兆円）
日本IPのグローバルシェア約24%（日本を除く）
Number of stores and locations
メルカリ ハロのクルー登録者数・パートナー拠点数が1年間で大きく伸長したと記載。期末数・出退店数はNot disclosedAcquisition of treasury shares
自社株買いを配当より優先する方針を記載。取得枠・株数・期間はNot disclosed| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | FY2025.6 通期（4Q） |
| Net Sales | ¥1,926 million (YoY +3.0%) |
| Operating profit | ¥275 100 million (core operating profit) (YoY +46.0%) |
| Results for the three months of the current quarter | 売上収益・コア営業利益、Marketplace・Fintech・USの四半期単独推移を掲載。個別の実績額は本文テキストではNot disclosed |
| Full-year earnings forecast | FY2025.6 Revenue 2,000-2,100億円 / Core operating profit 220-250億円 / FY2026.6 Revenue 2,000-2,100億円 / Core operating profit 280-320億円 |
| Self-assessment against the plan | 売上目標は未達、コア営業利益は業績予想を上振れ |
| Segment results | Marketplace GMV成長率 前年同期比+4% / 調整後コア営業利益率 38%（メルカリ ハロ除く43%） / Fintech Core operating profit ¥4.5 billion / Receivables balance Up 32% year on year / US Core operating profit ¥900 million / GMV成長率 前年同期比-17% |
| Key KPIs | Indicator name Marketplace GMV growth rate / Value +4% / Year on year against the same period last year +4%, Indicator name Cross-border transaction GMV / Value ¥900 million / Year on year against the same period last year Not disclosed, Indicator name Number of Mercard cards issued / Value 500 10,000 passes / Year on year against the same period last year Not disclosed, Indicator name Fintech債権残高 / Value +32% / Year on year against the same period last year +32%, Indicator name USコア営業利益 / Value ¥9 million / Year on year against the same period last year Not disclosed, Indicator name 従業員のAIツール利用率 / Value 95 % / Year on year against the same period last year Not disclosed, Indicator name コード生成のAI作成比率 / Value 70 % / Year on year against the same period last year Not disclosed, Indicator name Development output per engineer / Value +64% / Year on year against the same period last year +64% |
| Number of stores and locations | メルカリ ハロのクルー登録者数・パートナー拠点数が1年間で大きく伸長したと記載。期末数・出退店数はNot disclosed |
| Medium-term management plan targets | Revenue FY2024.6からFY2027.6までCAGR二桁成長 / Core operating profit FY2024.6からFY2027.6までCAGR25%以上 / Fintechコア営業利益 FY2027.6に100億円以上 |
| Acquisition of treasury shares | 自社株買いを配当より優先する方針を記載。取得枠・株数・期間はNot disclosed |
| Market Size / Share | エンタメホビーカテゴリー市場規模 2023年に1,200億ドル（17兆円） / 日本IPのグローバルシェア 約24%（日本を除く） |
| New initiatives | AI-Native Company化に向けたプロダクト・組織改革, 100名規模のAI Task Force発足, メルカリ鑑定センターの新設, AIを用いた不正利用検知・排除, 自社越境取引の展開国拡大, Fintechでのメルカードゴールド・分割払いの拡大, USでのファッションカテゴリー戦略と配送プラン・交換プログラムの実施 |
Items this document does not state (17)
Ordinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.売上収益はMarketplaceとUSの成長率鈍化により目標未達となった。一方、Fintechでは債権残高の積み上がり、USではプロダクト改善・マーケティング費用の効率化・固定費の見直しにより利益が改善した。
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.