Decline in operating revenue margin due to growth in B2B services and acquisition of major merchants
First written in FY2023-Q1. 2 of 12 entries say "Restated". Latest entry: 2026-08-14.
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- FY2026Added a decline in fee rates due to intensifying competitionAnnual report
「The operating revenue margin on GMV declined because the mix of B2B services, which carry relatively low fee rates, increased and fee rates for NP Postpay declined, among other factors.」
In addition to the traditional decline in margins attributable to the B2B and large-merchant mix, the decline in fee rates for “NP後払い” due to intensifying competition was identified as a new factor. - 2026-05-15RestatedEarnings
「The operating revenue margin on GMV declined because the mix of B2B services, which carry relatively low fee rates, increased and fee rates for NP Postpay declined, among other factors.」
The full-year results again showed that a higher B2B service mix and lower NP Postpay fee rates reduced the operating revenue margin on GMV. - FY2025Add factors supporting the improvement in gross profit margin for the full fiscal yearAnnual report
「・The number of electronic invoices used, which carry lower invoice issuance fees, increased, lowering operating revenue as a percentage of GMV. ・However, the increase in electronic invoicing has a greater effect in reducing postage costs, resulting in a higher gross profit margin.」
The full-year discussion also explains that operating revenue as a percentage of GMV declined because of increased use of electronic invoicing and the growth of large merchants with low fees, while the reduction in postage costs more than offset the impact and raised the gross profit margin. - FY2025-H1Add the decline in operating revenue margin and improvement in gross profit margin attributable to increased use of electronic invoicingAnnual report
「・The number of electronic invoices used, which carry lower invoice issuance fees, increased, lowering operating revenue as a percentage of GMV. ・However, the increase in electronic invoicing has a greater effect in reducing postage costs, resulting in a higher gross profit margin. ・The growth of large merchants with relatively low fee rates lowered operating revenue as a percentage of GMV.」
For B2B, operating revenue as a percentage of GMV declined because of increased use of electronic invoicing and the growth of large merchants with low fees, while the gross profit margin increased because the reduction in postage costs more than offset the impact. - FY2024-Q3Specify the drivers of atone's expansion and the impact of low-fee B2B merchantsAnnual report
「The increase in the average billing amount resulted from the expansion of stores where atone can be used and improved user convenience, which increased the frequency of purchases made using atone and the number of transactions consolidated at billing. ・The growth of large merchants with relatively low fee rates lowered operating revenue as a percentage of GMV.」
For atone, the increase in purchase frequency accompanying the expansion of participating stores and improved convenience was identified as a factor behind the higher average billing amount. For B2B, the growth of large merchants with low fee rates continued to weigh on the operating revenue margin. - FY2024-Q2Detail the drivers of lower revenue margins for atone and B2BAnnual report
「The average billing amount increased, reducing the relative share of invoice issuance and postage costs per invoice and lowering operating revenue as a percentage of GMV. ・The growth of large merchants with relatively low fee rates lowered operating revenue as a percentage of GMV.」
For atone, the increase in the average billing amount was again identified as a factor behind the lower operating revenue margin. For B2B, the growth of large merchants with low fee rates continued to weigh on the operating revenue margin. - FY2024-Q1Decline in the revenue margin due to higher average billing amounts at atone and growth in major B2B merchantsAnnual report
「In the B2C service atone, operating revenue increased year on year in the first quarter as GMV grew. The decline in the operating revenue margin was due to an increase in the average billing amount. In the B2B service, operating revenue increased year on year in the first quarter as GMV grew. The decline in the operating revenue margin was due to growth among major merchants with relatively low fee rates.」
The increase in the average billing amount at atone and the growth of major merchants with low fee rates in B2B were identified as factors behind the decline in the operating revenue margin, respectively. - FY2023-Q3Gross margin continues to decline due to growth in lower-margin B2B servicesAnnual report
「・As in the previous quarter, the overall gross margin declined because the B2B service, which has a relatively lower gross margin on GMV than the B2C service, continued to grow significantly.」
Growth in the lower-gross-margin B2B service continued, and overall gross profit declined 2.0% year on year. Meanwhile, gross profit from the B2B service increased 23.9%. - FY2023-Q2Factors behind the decline in the revenue margin elaboratedAnnual report
「・The overall operating revenue margin declined as the B2B service, which has a relatively lower operating revenue margin on GMV than the B2C service, expanded. ・The average operating revenue margin declined as the proportion of GMV from existing major merchants with low fee rates increased in both the B2C and B2B services.」
In addition to B2B service growth, the increased proportion of existing major merchants with low fee rates was detailed as a factor behind the decline in the overall operating revenue margin. B2B GMV increased 36.0%, while operating revenue increased 23.7%. - FY2023-Q1First statedAnnual report
「The B2B service, which has a relatively lower operating revenue margin on GMV than the B2C service, expanded, causing the overall operating revenue margin to decline.」
The company newly explained that growth in the B2B service and volume discounts associated with acquiring major merchants increase GMV while lowering the overall operating revenue margin.