Mercari, the Tokyo-listed resale marketplace behind the Mercari app, posted net profit of ¥35.4bn for the year to June 2026, up 35.6 percent, as consolidated revenue rose 19.0 percent to ¥229.3bn and operating profit jumped 57.7 percent to ¥43.9bn. The company's preferred core operating profit measure, which excludes one-off items, came in at ¥44.1bn, beating the guidance it set at the start of the year.
The gain came first from the core marketplace. Gross merchandise value, the total value of items sold through the app, rose 14.7 percent to ¥1.29tn, the first double-digit increase since the year to June 2023, on more than 24 million monthly active users. Cross-border sales, where buyers outside Japan purchase items listed domestically, reached ¥112.2bn, about 9 percent of marketplace volume, helped by a December 2025 alliance with used-goods retailer Surugaya and the June 2026 US rollout of a unified "Mercari Global App" that had already launched in Taiwan and Hong Kong.
| Segment | Revenue | Revenue YoY | Profit | Profit YoY |
|---|---|---|---|---|
| Japan Business | ¥180.9bn | +20.7% | ¥51.3bn | +47.2% |
| US | ¥40.8bn | +12.0% | ¥1.7bn | +125.8% |
| Group (consolidated) | ¥229.3bn | +19.0% | ¥43.9bn | +57.7% |
Fintech, run through subsidiary Merpay, is no longer a rounding error. Mercari has issued 6.32 million Mercard instalment-credit cards, and Fintech revenue rose 29.2 percent to ¥65.1bn as receivables from Merpay's buy-now-pay-later and small-loan products grew 44.4 percent to ¥358.1bn. Core operating profit for the unit rose ¥4.6bn to ¥9.1bn, and Mercari says AI-based credit scoring kept the collection rate on those receivables at 99.4 percent even as the loan book expanded.
The US business, which management has kept close to breakeven for several years, posted its best result yet: segment profit rose 125.8 percent to ¥1.7bn as GMV grew 11.2 percent to $810mn (¥125.3bn), and core operating profit reached ¥2.1bn even as the unit kept marketing spending disciplined.
Two numbers complicate the profit headline. Operating cash flow stayed negative, at minus ¥9.5bn, narrower than the prior year's minus ¥11.9bn, because Merpay's growing loan book still consumes more cash than the group's accounting profit shows; new borrowing and other financing activity supplied ¥73.5bn, lifting cash and equivalents to ¥184.1bn. Despite the record profit, Mercari again paid no dividend.
For the year to June 2027, management is targeting consolidated revenue of ¥260bn-¥290bn and core operating profit above ¥45bn, and says it has already hit, a year early, the core operating-profit growth target set out in its multi-year plan. Separately, chief executive Shintaro Yamada and chief financial officer Kiyoka Eda certified the accuracy of the annual report and, in a companion filing, judged the group's internal controls over financial reporting effective for the year, covering the parent company and three of its five consolidated subsidiaries.