The earnings call presented a mix of significant achievements, such as record-breaking core operating profit and high profitability across business areas, alongside notable challenges like the decline in the U.S. GMV and issues with fraudulent usage. While the company showed strong financial performance, there are concerns about meeting future growth targets.

Company Guidance -

Q1 2026

During Mercari's FY 2025 second quarter earnings briefing, CFO Sayaka Eda highlighted the company's financial performance and strategic focus areas. The company achieved a record-breaking consolidated core operating profit of JPY 7 billion, representing a 79% increase year-on-year. Despite a slower-than-expected GMV growth rate in the marketplace and U.S. segments, improvements were seen in the latter half of the quarter. The marketplace GMV grew by 5% to JPY 296 billion, with a revenue increase of 2% to JPY 28.9 billion. The adjusted core operating margin, excluding investments in Mercari Hallo, stood at 46%. In fintech, the credit balance grew by 38% to JPY 213.3 billion, with a core operating profit of JPY 1.2 billion. The U.S. business saw a significant GMV decline of 27% year-on-year, yet improved its core operating loss to negative JPY 100 million. Looking forward, Mercari aims to enhance safety and user experience across its platform and achieve a core operating margin of 37% to 42% in the marketplace segment, with fintech targeting a JPY 3 billion core operating profit.

Record-Breaking Core Operating Profit

Mercari achieved a record-breaking consolidated core operating profit of JPY 7 billion, up 79% year-on-year.

High Profitability Across Business Pillars

All three business pillars (marketplace, fintech, and U.S.) achieved high profitability, with marketplace GMV growing by 5% and fintech credit balance increasing by 38% year-on-year.

Positive Adjustments and Feature Enhancements

Implemented product initiatives and enhancements, such as hassle-free car sales and C2B transactions, leading to increased engagement and item views.

Mercari (JP:4385) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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JP:4385 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2026 (Q1)	27.50 / -	17.9	―	―	―
Aug 05, 2025	2025 (Q4)	45.77 / 87.56	28.79	204.13% (+58.77)
May 07, 2025	2025 (Q3)	22.36 / 26.47	25.75	2.80% (+0.72)		―
Feb 07, 2025	2025 (Q2)	17.46 / 27.12	10.67	154.17% (+16.45)
Nov 06, 2024	2025 (Q1)	- / 17.90	17.27	3.65% (+0.63)		―
Aug 13, 2024	2024 (Q4)	- / 28.79	49.673	-42.04% (-20.88)
May 10, 2024	2024 (Q3)	18.37 / 25.75	23.91	7.70% (+1.84)		―
Feb 13, 2024	2024 (Q2)	18.78 / 10.67	4.91	117.31% (+5.76)
Nov 14, 2023	2024 (Q1)	11.31 / 17.27	2.56	574.61% (+14.71)		―
Aug 10, 2023	2023 (Q4)	51.97 / 49.67	0.864	5649.19% (+48.81)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

JP:4385 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	¥2336.00	¥2315.00	-0.90%
May 07, 2025	¥2265.00	¥2311.50	+2.05%
Feb 07, 2025	¥1907.00	¥2307.00	+20.98%
Nov 06, 2024	¥2171.50	¥1824.00	-16.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Mercari Inc (JP:4385) report earnings?

Mercari Inc (JP:4385) is schdueled to report earning on Oct 29, 2025, TBA (Confirmed).

What is Mercari Inc (JP:4385) earnings time?

Mercari Inc (JP:4385) earnings time is at Oct 29, 2025, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is the P/E ratio of Mercari Inc stock?

The P/E ratio of Mercari is N/A.

What is JP:4385 EPS forecast?

JP:4385 EPS forecast for the fiscal quarter 2026 (Q1) is 27.5.

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