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Earnings presentation4385Mercari,Inc.Information and Communications, Services and Others

FY2026.6 3Q Financial Results Presentation

In 3Q, revenue and profit increased on growth in Marketplace and Fintech, with revenue and core operating profit reaching record highs. Against the backdrop of strong Marketplace performance, the full-year revenue forecast was raised to ¥220 billion or more and the core operating profit forecast to ¥40 billion or more, while core operating profit is expected to decline significantly in 4Q due to increased growth investments.

Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
400
¥100 million or more (full-year core operating profit forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFY2026.6 third quarter6 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥610 million+22.0%
Operating profit¥146 100 million +66.0%core operating profit
Results for the three months of the current quarter
Revenue
¥610 million+22.0%
Core operating profit
¥146 million+66.0%
Full-year earnings forecast
Revenue
¥220 billion or more
Core operating profit
¥40 billion or more
What the company explained in this material
New initiatives
  • Launch of a new generative AI-powered filtering and search function
  • Launch of an anonymous returns service
  • Waiver of authentication fees for products above a certain value
  • Launch of an ETC card
  • 開催 of the Super Mercari Sale
  • POC on expanding the Anshin Authentication service
  • Mandatory identity verification in selected categories
  • POC to establish an AI-centered development structure
  • Attracting new investors through the securitization of fixed-amount and installment payment receivables
Key KPIsA metric the company considers important as a management benchmark.
  • Marketplace GMV¥3,399 million
    Year on year against the same period last year+16%
  • Fintech receivables balance¥3,281 million
    Year on year against the same period last year+45%
  • US GMV211 USD million
    Year on year against the same period last year+18%
  • Entertainment and hobby GMV+32%
  • Fintech 11-month collection rate+46%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • AOV (average order value)
  • Purchase frequency
  • Number of customers
Segment results
Marketplace
GMV
¥3,399 million+16.0%
Core operating profit
¥141 million
yoy_change+¥6.3 billion
Fintech
Revenue
¥167 million+30.0%
Receivables balance
¥3,281 million+45.0%
Core operating profit
¥27 million
yoy_change+¥900 million
US
GMV
211 USD million+18.0%
Core operating profit
¥2 million
yoy_change-¥1.0 billion
Medium-term management plan targets
FY2027.6
RevenueDouble-digit CAGR
Core operating profitCAGR of 25% or more
Fintech core operating profitAt least ¥10 billion
Market Size / Share
Global trading card market sizeNot disclosed (shown in a graph; the specific figure could not be confirmed in the extracted text)
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFY2026.6 third quarter
Net Sales¥610 million (YoY +22.0%)
Operating profit¥146 100 million (core operating profit) (YoY +66.0%)
Results for the three months of the current quarterRevenue ¥610 million (YoY +22.0%) / Core operating profit ¥146 million (YoY +66.0%)
Full-year earnings forecastRevenue ¥220 billion or more / Core operating profit ¥40 billion or more
Segment resultsMarketplace GMV ¥3,399 million (YoY +16.0%) / Core operating profit ¥141 million / Fintech Revenue ¥167 million (YoY +30.0%) / Receivables balance ¥3,281 million (YoY +45.0%) / Core operating profit ¥27 million / US GMV 211 USD million (YoY +18.0%) / Core operating profit ¥2 million
Key KPIsIndicator name Marketplace GMV / Value ¥3,399 million / Year on year against the same period last year +16%, Indicator name Fintech receivables balance / Value ¥3,281 million / Year on year against the same period last year +45%, Indicator name US GMV / Value 211 USD million / Year on year against the same period last year +18%, Indicator name Entertainment and hobby GMV / Value +32% / Year on year against the same period last year Not disclosed, Indicator name Fintech 11-month collection rate / Value +46% / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name AOV (average order value) / Value Not disclosed / Year on year against the same period last year Not disclosed, Indicator name Purchase frequency / Value Not disclosed / Year on year against the same period last year Not disclosed, Indicator name Number of customers / Value Not disclosed / Year on year against the same period last year Not disclosed
Medium-term management plan targetsFY2027.6 Revenue Double-digit CAGR / Core operating profit CAGR of 25% or more / Fintech core operating profit At least ¥10 billion
Market Size / ShareGlobal trading card market size Not disclosed (shown in a graph; the specific figure could not be confirmed in the extracted text)
New initiativesLaunch of a new generative AI-powered filtering and search function, Launch of an anonymous returns service, Waiver of authentication fees for products above a certain value, Launch of an ETC card, 開催 of the Super Mercari Sale, POC on expanding the Anshin Authentication service, Mandatory identity verification in selected categories, POC to establish an AI-centered development structure, Attracting new investors through the securitization of fixed-amount and installment payment receivables
Items this document does not state (19)
Ordinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital 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.

Performance was driven by faster-than-expected GMV growth in Marketplace, continued double-digit GMV growth in the US, and higher revenue from Fintech. Core operating profit is expected to decline in 4Q as marketing and product investments are increased to support growth from FY2027.6 onward.

How to read this page

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FY2026.6 3Q Financial Results Presentation | Mercari,Inc. (4385) timely disclosure | Komori