Mercari, Inc. (4385) Stock Price

Mercari is a company that operates a core business centered on a peer-to-peer online marketplace that simplifies buying and selling between individuals. The company provides an easy experience for anyone to list and purchase unwanted items via smartphone or web, and is also focused on building a trustworthy environment through partnerships with delivery networks, identity verification, and fraud detection powered by AI.

The primary customers are individual users, and in recent years the company has expanded sales opportunities for sole proprietors and retailers (Mercari Shops). Revenue is primarily generated from transaction fees (10% of product prices) and fintech-related income from payments and credit services. The company has grown to a gross merchandise value (GMV) of approximately 1.12 trillion yen and a monthly active user (MAU) base of approximately 23 million people.

The business is divided into two main segments: Marketplace and Fintech. The Marketplace segment expands the distribution of goods through the flea market app, cross-border transactions, and shop features. The Fintech segment drives payment and credit business growth centered on Merpay, a mobile payment service, and Mercard, an AI-powered credit card, while also working to improve growth and profitability in the U.S. market.

Mercari is pursuing "top-line growth accompanied by profit expansion." In the near term, the company aims to achieve consolidated revenue of 200–210 billion yen and consolidated core operating profit of 28–32 billion yen for the fiscal year ending June 2026. With gross merchandise volume (GMV) already grown to approximately 1.1 trillion yen and a strong user base of approximately 23 million monthly active users (MAU), the company is focused on achieving stable growth and improved profitability in tandem. Over the medium term, the company targets double-digit annual revenue growth and core operating profit growth exceeding 25% annually, advancing both revenue expansion and margin improvement in parallel.

The company has identified strengthening the core marketplace experience and expanding fintech as priority investment areas. It is focusing on improving ease of listing and purchasing while maintaining a safe and secure transaction environment. The company is leveraging data-driven initiatives—such as listing price suggestions and personalized recommendations for buyers—to improve purchase conversion rates and listing conversion rates. On the fintech side, the company is building revenue pillars beyond transaction fees, centered on the smartphone payment service "Mercari Pay" and the credit-enabled card "Mercari Card," with a target of 5–7.5 billion yen in core operating profit from payments and credit services.

For new market development, the company has positioned cross-border transactions and the revitalization of its U.S. business as key initiatives. Cross-border transactions already generate over 90 billion yen in GMV, and the company plans further expansion through operations in more than 120 countries worldwide. For the U.S. market, the company aims to maintain break-even while differentiating through product improvements and category strategy, targeting marketplace GMV growth of 3–5% annually to achieve positive overall growth for the fiscal year.

In technological innovation, the company is building organizational foundations as an "AI-Native Company," advancing product improvements and safety enhancements with AI at the core. Specific initiatives include advanced fraud detection and identity verification, customer support automation, and implementation of listing and price-suggestion algorithms to enhance user experience and operational efficiency. The company is also continuing infrastructure investments—such as server expansion and parallel processing implementation—to ensure stable service operations and scalability.