Mercari (4385) Q3 2026 earnings summary

Executive summary

• Achieved record revenue and core operating profit, with consolidated revenue up 22% year-over-year to 61.0B JPY in Q3 and core operating profit up 66% to 14.6B JPY, driven by strong Marketplace and Fintech growth.

• All core businesses—Marketplace, U.S., and Fintech—posted double-digit GMV growth, with Marketplace GMV up 16% year-over-year and Fintech credit balance up 45%.

• Upward revisions were made to full-year revenue and core operating profit forecasts following better-than-expected performance.

• US segment GMV rose 18% year-over-year in Q3, with segment profit turning positive and revenue up 9.2% for the nine months.

• Profit attributable to owners of parent increased 65.6% year-over-year to 19,431 million JPY for the nine months.

Financial highlights

• Q3 revenue was 61.0B JPY (+22% YoY); core operating profit was 14.6B JPY (+66% YoY); gross profit for nine months was 123,454 million JPY.

• Marketplace GMV reached 339.9B JPY (+16% YoY); Fintech credit balance was 328.1B JPY (+45% YoY); US GMV was 211M USD (+18% YoY in Q3).

• Basic earnings per share increased to 117.93 JPY from 71.49 JPY year-over-year.

• Total assets as of March 31, 2026, were 673.7B JPY, with cash and cash equivalents at 155.2B JPY.

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

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).

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

• Q4 core operating profit expected to decrease quarter-on-quarter due to increased investments.

• No dividends are planned for the fiscal year.