Komori
Earnings presentation materials4385Mercari,Inc.Information and Communications, Services and Others

FY2027.6 1Q Earnings Presentation

In the first quarter of FY2027.6, revenue was ¥63.0 billion and core operating profit was ¥15.0 billion, both record highs, driven by growth in Marketplace and Fintech. The full-year core operating profit forecast of ¥45.0 billion or more was left unchanged, and investment will be stepped up from the second quarter onward, mainly in Marketplace and Fintech.

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
150
¥100 million (1Q core operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentation materialsFY2027.6 1Q7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥630 100 million+28.0%
Operating profit¥150 100 million +60.0%core operating profit
Results for the three months of the current quarterRevenue of ¥63.0 billion and core operating profit of ¥15.0 billion, both reported as standalone first-quarter results
Full-year earnings forecast
Revenue¥260-290 billion
Core operating profit¥45 billion or more
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
A solid start toward achieving the full-year earnings forecast
New initiatives
  • Launch of the “Item Appraisal” service on Marketplace
  • Partial automation of compensation processing using AI
  • Information-sharing agreement on fraudulent transactions with the National Police Agency
  • Establishment of a permanent AI Management Office
  • Development of a company-wide common AI work environment
  • Increase in the facility limit for the securitization of Fintech receivables from next-month payment services to ¥60 billion
Key KPIsA metric the company considers important as a management benchmark.
  • Marketplace GMV¥3,320 100 million
    Year on year against the same period last year+23%
  • Fintech receivables balance¥3,891 100 million
    Year on year against the same period last year+45%
  • US GMV194 USD million
    Year on year against the same period last year+0.3%
  • Marketplace core operating profit¥115 100 million
    Year on year against the same period last year+¥3.0 billion
  • Fintech core operating profit¥59 100 million
    Year on year against the same period last year+¥3.2 billion
  • US core operating profit¥0.9 100 million
    Year on year against the same period last year-¥0.5 billion
  • Compensation completion rate (within 48 hours)99.6 %
  • Rate of transaction-related inquiries0.35 %
    Year on year against the same period last yearRecord low
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Marketplace MAU and ARPU, as well as the average purchase amount per transaction in the US, were mentioned. Figures were not disclosed.
Segment results
Marketplace
GMV¥332 billion, YoY +23%
Core operating profit¥11.5 billion, up ¥3.0 billion year on year
Fintech
Receivables balance¥389.1 billion, YoY +45%
Core operating profit¥5.9 billion, up ¥3.2 billion year on year
US
GMVUS$194 million, YoY +0.3%
Core operating profit¥90 million, down ¥500 million year on year
Market Size / Share
2025 online C2C market: ¥2.687 trillion
Mercari GMV¥1.1667 trillion
Share2025: 43.4%
Acquisition of treasury shares
The first share buyback was conducted in August 2026. The amount, number of shares and period of the buyback were not disclosed.
Contents of this document
ItemDetails
Document typeEarnings presentation materials
Fiscal Period CoveredFY2027.6 1Q
Net Sales¥630 100 million (YoY +28.0%)
Operating profit¥150 100 million (core operating profit) (YoY +60.0%)
Results for the three months of the current quarterRevenue of ¥63.0 billion and core operating profit of ¥15.0 billion, both reported as standalone first-quarter results
Full-year earnings forecastRevenue ¥260-290 billion / Core operating profit ¥45 billion or more
Self-assessment against the planA solid start toward achieving the full-year earnings forecast
Segment resultsMarketplace GMV ¥332 billion, YoY +23% / Core operating profit ¥11.5 billion, up ¥3.0 billion year on year / Fintech Receivables balance ¥389.1 billion, YoY +45% / Core operating profit ¥5.9 billion, up ¥3.2 billion year on year / US GMV US$194 million, YoY +0.3% / Core operating profit ¥90 million, down ¥500 million year on year
Key KPIsIndicator name Marketplace GMV / Value ¥3,320 100 million / Year on year against the same period last year +23%, Indicator name Fintech receivables balance / Value ¥3,891 100 million / Year on year against the same period last year +45%, Indicator name US GMV / Value 194 USD million / Year on year against the same period last year +0.3%, Indicator name Marketplace core operating profit / Value ¥115 100 million / Year on year against the same period last year +¥3.0 billion, Indicator name Fintech core operating profit / Value ¥59 100 million / Year on year against the same period last year +¥3.2 billion, Indicator name US core operating profit / Value ¥0.9 100 million / Year on year against the same period last year -¥0.5 billion, Indicator name Compensation completion rate (within 48 hours) / Value 99.6 % / Year on year against the same period last year Not disclosed, Indicator name Rate of transaction-related inquiries / Value 0.35 % / Year on year against the same period last year Record low
Unit price and quantity metricsMarketplace MAU and ARPU, as well as the average purchase amount per transaction in the US, were mentioned. Figures were not disclosed.
Acquisition of treasury sharesThe first share buyback was conducted in August 2026. The amount, number of shares and period of the buyback were not disclosed.
Market Size / ShareMarket Size 2025 online C2C market: ¥2.687 trillion / Mercari GMV ¥1.1667 trillion / Share 2025: 43.4%
New initiativesLaunch of the “Item Appraisal” service on Marketplace, Partial automation of compensation processing using AI, Information-sharing agreement on fraudulent transactions with the National Police Agency, Establishment of a permanent AI Management Office, Development of a company-wide common AI work environment, Increase in the facility limit for the securitization of Fintech receivables from next-month payment services to ¥60 billion
Items this document does not state (18)
Ordinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastBreakdown of Factors Affecting the ChangeNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial 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.

In Marketplace, GMV, MAU and ARPU increased against the backdrop of efforts to strengthen the core experience, while in Fintech, receivables grew as a result of acquiring Merpay Card members. The absence of large-scale marketing initiatives in the first quarter was also cited as a factor behind the increase in core operating profit.

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