1. Japan Stocks

  2. •

    Consumer Cyclical

  3. •

    Specialty Retail
Mercari, Inc.

Mercari, Inc.

4385.T
Mercari, Inc.JP flagTokyo Stock Exchange
4,512.00
JPY
+72.00
- -
744.68BMarket Cap
Mercari, Inc.
4385.T
(Tokyo Stock Exchange)

Recent

price

4,512.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
100.91
338.81
307.85
356.64
495.24
675.71
919.58
1,065.9
1,148.3
1,173.25
554.81
Revenue per Share
-2.87
-64.58
-60.61
-94.98
-147.85
36.42
-47.33
81.28
82.48
159.05
48.91
Basic EPS, GAAP
73.58
93.36
-35.54
-62.02
76.35
18.77
-168.13
-225.62
-266.49
- -
-85.33
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
18.5
-30.09
167.98
76
-67.72
-22.41
-70.43
17.47
111.66
275.06
160.66
Book Value per Share
69.11
62.8
467.4
344.04
225.22
250.6
234.08
339.69
438.56
599.13
492.3
Tangible Book Value per Share
121
65
116
145
154
157
160
161
163
164
163
Basic Weighted Avg Shares
12,256
22,071
35,765
51,683
76,275
106,115
147,049
171,967
187,407
192,633
90,236
Sales/Revenue/Turnover
-0.35
-12.58
-12.37
-23.51
-25.31
4.89
-2.53
9.53
9.33
14.45
11.04
Operating Margin (%)
50
192
440
1,065
1,639
845
818
2,745
2,042
- -
881
Depreciation Expense
-348
-4,207
-7,041
-13,764
-22,772
5,720
-7,569
13,113
13,461
26,114
7,955
Net Income, GAAP
- -
- -
- -
- -
- -
53.47
- -
20.41
24.78
10.1
20.53
Effective Tax Rate (%)
-2.84
-19.06
-19.69
-26.63
-29.86
5.39
-5.15
7.63
7.18
13.56
8.82
Profit Margin (%)
7,606
15,860
69,421
90,799
59,149
22,595
75,504
63,733
99,490
100,730
104,263
Working Capital
- -
12,887
18,956
51,447
51,547
16,148
79,102
86,978
126,477
123,729
103,847
LT Debt
8,395
4,416
54,421
50,937
35,367
40,013
38,213
55,659
72,144
99,640
80,680
Total Equity
- -
- -
- -
- -
- -
2.34
- -
6.54
5.37
8.83
3.14
Return on Invested Capital (%)
- -
- -
- -
- -
- -
10.89
- -
9.38
7.37
11.67
4.16
Return on Capital (%)
- -
- -
- -
-90.17
- -
- -
- -
- -
127.94
82.4
45.75
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'24
Sep'25
Dec'25
ST Debt
66,831
- -
75,011
LT Borrowings
124,263
- -
101,999
LT Finance Leases
2,214
- -
1,848
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
164
- -
164
Market Capitalization
324,360
408,028
291,619

Working Capital

FRC

•

in mil. unless spec.
Jun'24
Sep'25
Dec'25
Total Current Assets
402,033
- -
425,084
Cash, Cash Equivalents & STI
197,305
- -
193,047
Accounts Receivable, Net
195,437
- -
221,954
Inventories
- -
- -
- -
Total Current Liabilities
302,543
- -
320,821
Payables & Accruals
- -
- -
- -
ST Debt
66,831
- -
75,011
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
24.4%
38.11%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
- -
-106.81%
94%
Sales/Revenue/Turnover
- -
21.28%
2.79%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
44,271
48,115
43,707
46,529
187,407
2025
- -
- -
- -
- -
192,633
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
17.27
10.67
20.12
- -
82.48
2025
- -
- -
- -
- -
159.05
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Mercari, Inc. Mercari, Inc. (4385.T) operates Japan's leading consumer-to-consumer (C2C) marketplace platform through its flagship Mercari smartphone application, enabling users to buy and sell new and pre-owned items across diverse categories including fashion, electronics, home goods, jewelry, game consoles, shoes, mobile devices, collectibles, and entertainment & hobby products; the company also provides premium services such as promoted listings, expedited shipping via Mercari Now, payment solutions, financial products, and cryptoasset trading through its subsidiary Mercoin, offering assets like Bitcoin, Ethereum, and XRP. Founded in 2013 and headquartered in Tokyo, Japan, Mercari maintains significant operations in the United States with offices in Palo Alto, California, and additional locations in India, Fukuoka, and Sendai; it targets individual consumers and businesses seeking convenient, mobile-first peer-to-peer transactions while promoting sustainability through value circulation and secondhand goods resale. In recent developments, Mercari launched its Global App in September 2025 for overseas buyers in Taiwan and Hong Kong, with plans for U.S. rollout in spring 2026 and expansion to over 50 countries, enhancing crossborder e-commerce with AI translation, localized payments, quality inspections, and partnerships including Stripe for payments, Sagawa Express for shipping, Zero Co., Ltd. for used car transactions in December 2024, and Coincheck in August 2025 to broaden crypto offerings within the Mercari app; these initiatives support domestic businesses' overseas expansion via Mercari Shops, driving gross merchandise value growth exceeding 90 billion JPY annually in crossborder segments.