Return to a Growth Trajectory in the U.S. Business

「In the US business, we secured profitability through a review of the cost structure and business strategy, returning to a growth trajectory in FY2026.6. Going forward, we aim to accelerate further growth.」

「In the US, initiatives including strengthening the core product experience to raise the growth rate, holiday-season marketing campaigns and efficient coupon programmes focused on specific categories proved effective. As a result, Mercari GMV for the six-month interim consolidated accounting period increased 6.0% year on year to US$390 million (¥58.9 billion, aggregated using monthly average exchange rates)」

「Negative GMV growth has continued due to the impact of external factors, including a longer-than-expected period of inflation」

「As the increase in costs borne by buyers failed to produce the expected effect, GMV for Mercari in the six-month interim consolidated accounting period declined 21% year on year to US$368 million (¥55.6 billion, aggregated using monthly average exchange rates)」

「We pursued bold initiatives, including product updates such as rebranding to acquire Generation Z users and, for the first time in the US marketplace, making listing fees free of charge. However, the impact of external factors, including a longer-than-expected period of inflation, was substantial, and we did not succeed in returning to a growth trajectory.」

「To stimulate transactions by increasing listings, we pursued bold initiatives for future growth, including changing the fee burden from sellers to buyers for the first time among major US marketplaces. External factors including inflation continued to affect the business. US GMV was US$705 million (¥103.6 billion, accumulated using monthly average exchange rates) in the nine-month period of the third quarter, down US$81 million year on year, but signs of improvement have begun to emerge in the number of purchases and GMV growth rate.」

「In the US, as part of this fiscal year's business policy, we are seeking to return to a growth trajectory by refining the product to strengthen retention among existing users, while also focusing on engaging Generation Z to support future growth. In addition to efficient marketing focused on activating existing users, we advanced various product initiatives aimed primarily at acquiring Generation Z users, including pilot testing of in-person transactions in selected regions and the launch of community features. The slowdown in purchases continued due to external factors, including inflation. As a result, US GMV was US$470 million (¥68.8 billion, aggregated using monthly average exchange rates) in the six-month period ended 30 September, down US$58 million year on year, while MAU increased to 5.07 million, marking the second consecutive quarter of growth.」

「In the US, we are focusing on refining the product to strengthen retention among existing users, while also seeking to return to a growth trajectory and focusing on engaging Generation Z to support future growth as part of this fiscal year's business policy.」

「In the US, we will focus on refining the product to strengthen retention among existing users and on efficient marketing, with the aim of returning to a growth trajectory.」