Mercari (4385) Q3 2026 earnings summary

Executive summary

• Achieved record Q3 FY2026.6 revenue of 61.0B JPY, up 22% YoY, and nine-month revenue of 167.3B JPY, up 16.1% YoY, driven by strong Marketplace and US GMV growth and steady Fintech revenue increases.

• Core operating profit reached 14.6B JPY in Q3 (+66% YoY) and 34.5B JPY for nine months (+69.7% YoY), with profit attributable to owners up 65.6% to 19.4B JPY.

• Both revenue and core operating profit exceeded forecasts, prompting an upward revision of full-year guidance.

• Marketplace GMV grew 11.0% YoY to 939.4B JPY for nine months, with strong Entertainment & Hobbies performance and improved user retention.

• Fintech credit balance increased 45% YoY to 328.1B JPY, with a high collection rate of 99.4%.

Financial highlights

• Q3 revenue: 61.0B JPY (+22% YoY); core operating profit: 14.6B JPY (+66% YoY); nine-month revenue: 167.3B JPY (+16.1% YoY); nine-month operating profit: 34.5B JPY (+69.7% YoY).

• Marketplace GMV: 339.9B JPY in Q3 (+16% YoY); 939.4B JPY for nine months (+11% YoY); Fintech credit balance: 328.1B JPY (+45% YoY); US GMV: 211M USD in Q3 (+18% YoY), 602M USD for nine months (+10% YoY).

• Marketplace core operating profit: 14.1B JPY in Q3 (+6.3B JPY YoY); Fintech: 2.7B JPY in Q3 (+0.9B JPY YoY); US: 0.2B JPY in Q3 (-1.0B JPY YoY); US segment profit for nine months turned positive at 1.2B JPY.

• Gross profit for nine months: 123.5B JPY, up from 103.3B JPY YoY; basic EPS increased to 117.93 JPY from 71.49 YoY.

• Total assets at end of Q3: 673.7B JPY; total equity: 120.4B JPY; cash and cash equivalents: 155.2B JPY.

Outlook and guidance

• Full-year revenue forecast revised upward to at least 220.0B JPY (+14.2% YoY); core operating profit forecast to at least 40.0B JPY (+45.1% YoY).

• Q4 core operating profit expected to decrease QoQ due to increased growth investments and marketing initiatives.

• Marketplace GMV growth guidance raised to +5–10% YoY; core operating profit guidance to 35.0–39.0B JPY.

• No dividends are planned for the fiscal year.