Slide 1: FY2026.6 Q2 Presentation Material
mercari Presentation Material FY2026.6 Q2
Slide 2: Group Mission
Group Mission Financial Results Presentation Material Circulate all forms of value to unleash the potential in all people 2
Slide 3: Table of Contents
Table of Contents Financial Results Presentation Material 1 FY2026.6 Q2 Financial Overview 2 Appendix 3
Slide 4: FY2026.6 Q2 Financial Overview
FY2026.6 Q2 Financial Overview 4
Slide 5: Consolidated Highlights
1 Consolidated Highlights Objectives Raised at Start of FY2026.6 Consolidated Results Forecast (Full Year) Group Policy/Major Initiatives ● Make preparations for FY2027.6 Revenue Core operating profit1 ● Essentially aim for top-line growth that will lead to 200.0–210.0B JPY 28.0–32.0B JPY Financial R
Slide 6: Upward Revision of Forecast Results
1 Upward Revision of Forecast Results ■ We increased our consolidated results forecast in conjunction with revising the full-year guidance for Marketplace upward Consolidated Forecast at start of period Revised forecast Financial Results Presentation Material Revenue 200.0–210.0B JPY 210.0–220.0B JP
Slide 7: Consolidated Results (Quarterly)
1 Consolidated Results (Quarterly) ■ Driven by strong Marketplace growth and the steady performance of our three core businesses, we achieved record-high revenue and core operating profit Revenue 2 Core Operating Profit (Billion JPY) Impact of a change in accounting methods such that a portion of (Bil
Slide 8: KPI Summary
1 KPI Summary Marketplace Fintech US GMV1 Credit Balance GMV Financial Results Presentation Material 329.1B JPY 300.7B JPY 196M USD (+11% YoY) (+41% YoY) (+12% YoY) excluding Mercari Hallo Core Operating Profit2 Core Operating Profit Core Operating Profit 10.6B JPY 1.8B JPY 0.6B JPY (+2.3B JPY YoY) (+0
Slide 9: Progress Toward Becoming AI-Native
1 Progress Toward Becoming AI-Native Product innovation ■ With the AI Task Force at the helm, we have broken down Create a service based on AI that ensures safety and our operations and created new workflows powered by AI security and ease of use, all while being intuitive for ■ We have decided to co
Slide 10: Marketplace—Summary
1 Marketplace—Summary ■ While prioritizing enhancing the product’s core experience, also FY2026.6 emphasize strengthening crossborder transactions to lay the Business foundation for accelerating GMV growth in FY2027.6 and beyond Objectives ■ Aim for GMV growth rate of +3–5% YoY and core operating pr
Slide 11: Marketplace—Results (Quarterly)
1 Marketplace—Results (Quarterly) ■ Highest ever GMV/MAU/revenue GMV1/MAU2 Revenue3 GMV (Billion JPY) (Billion JPY) MAU (Million users) +4% +13% Financial Results Presentation Material YoY YoY +11% YoY 1. Aggregate transaction value after adjusting for cancellations (includes transaction value of Me
Slide 12: Marketplace—Results (Quarterly)
1 Marketplace—Results (Quarterly) Core Operating Profit/Margin1 Profit and Cost Composition (Billion JPY) Excluding Mercari Hallo: Core operating profit: 11.3B JPY Core operating margin: 35% Core operating profit 2 Financial Results Presentation Material Core operating margin +4 ppts YoY +29% YoY 1. Cor
Slide 13: Marketplace—Synergy of Core Product Experience and Marketing Initiatives
1 1 Marketplace—Synergy of Enhancements to the Core Product Experience and Marketing Initiatives Enhancements to the Core Marketing Initiatives Product Experience ■ Safety and security ● Updated our Marketplace Principles1 to better address ■ The ”Super Mercari Market Days” campaign recorded the hig
Slide 14: Marketplace—Crossborder Transactions
1 Marketplace—Crossborder Transactions Capital and Business Initiatives Focused on Collaboration with Suruga-ya Acquiring New Overseas Users ■ Through initiatives such as promoting online and offline ■ To further grow our crossborder business, we integration, we announced a capital and business imple
Slide 15: Fintech—Summary
1 Fintech—Summary FY2026.6 ■ Establish the foundation to become a product that is Business chosen by users for all payment/credit use cases Objectives ■ Aim for core operating profit1 of 5.0–7.5B JPY Financial Results Presentation Material Saw the growth of payments both inside and outside of Mercari
Slide 16: Fintech—Expanding Outside Usage of Credit Services
1 Fintech—Expanding Outside Usage of Credit Services Increase in Transactions Outside of Mercari Leading Growth Financial Results Presentation Material ■ The widespread adoption of Mercard1 and Trends in transaction value outside Mercari the release of Mercard Gold2 contributed to the total transact
Slide 17: Fintech—Results (Quarterly)
1 Fintech—Results (Quarterly) Revenue Breakdown of Revenue (Billion JPY) (Billion JPY) Impact of change where a portion of point-related expenses is now deducted from revenue1 (Impact in Q2 was 1.6B JPY; YoY revenue Others2 growth before deductions: +33%) Payment Credit3 +20% Financial Results Prese
Slide 18: Fintech—Results (Quarterly)
1 Fintech—Results (Quarterly) Core Operating Profit1 Advertising Costs2 (Billion JPY) (Billion JPY) Financial Results Presentation Material +51% YoY 1. Core operating profit is defined as IFRS operating profit excluding other income/expenses, etc. Starting in FY2026.6 Q1, discontinued adjustments based
Slide 19: Fintech—Expansion of Credit Balance
1 Fintech—Expansion of Credit Balance ■ Newly launched the liquidation of Merpay Smart Money receivables, achieving non-recourse financing across all major credit services1 Credit Balance2 and Collection Rates3 (Billion JPY) +41% Financial Results Presentation Material YoY Smart Money Lump-sum paymen
Slide 20: US—Summary
1 US—Summary ■ Continue to break even while aiming for positive full-year FY2026.6 GMV growth YoY by enhancing the product’s core Business experience and distinguishing ourselves from our Objectives competitors by using category-specific strategies Financial Results Presentation Material In addition
Slide 21: US—Results (Quarterly)
1 US—Results (Quarterly) GMV1/MAU2 Revenue Core Operating Profit3 GMV (Million USD) (Billion JPY) (Billion JPY) MAU (Million users) Financial Results Presentation Material -4% YoY +11% +12% YoY YoY 1. Aggregate transaction value after adjusting for cancellations 21 2. Quarterly average number of user
Slide 22: US—Synergy Between Core Product Experience Enhancements and Marketing Initiatives
1 US—Synergy Between Core Product Experience Enhancements and Marketing Initiatives ■ Saw continued strength in Entertainment & Hobbies and improved momentum in fashion categories, a focus area Enhancing the Core Marketing Initiatives Product Experience Financial Results Presentation Material ■ Prom
Slide 23: Objectives for H2
1 Objectives for H2 Consolidated ● Taking into account the positive state of mainly the Marketplace business, we have revised the full-year financial results forecast upwards; aiming for revenue of 210B–220B JPY and core operating profit of 32.0B–36.0B JPY ● We will continue to strengthen growth inves
Slide 24: Appendix
Appendix 24
Slide 25: Board of Directors Structure
2 Board of Directors Structure ■ Appointing Independent Directors with a wealth of knowledge and experience in a variety of areas to realize a transparent and highly diverse organization ■ In September 2025, established the Lead Independent Director1 role to further enhance the independence and stre
Slide 26: Governance Structure (Independent Directors)
2 Governance Structure (Independent Directors) Financial Results Presentation Material Kazuhiko Toyama Makiko Shinoda Shiho Konno Lead Independent Chair of the Chair of the Audit Director Compensation Committee Chair of the Nominating Committee Committee Background • Boston Consulting Group • The Lo
Slide 27: Governance Structure (Independent Directors)
2 Governance Structure (Independent Directors) Financial Results Presentation Material Takuya Mayumi Umezawa Kikka Hanazawa Kitagawa Background • Joined the Tokyo office of Tohmatsu & Co. (currently Deloitte • General Manager, Itochu Fashion System Co., Ltd. New York office • Director of Rakuten Data
Slide 28: Governance Structure (Independent Directors)
2 Governance Structure (Independent Directors) Financial Results Presentation Material Kumi Fujisawa Masahiro Kotosaka (new) Background • Joined McKinsey & Company, Inc. • Joined KOKUSAI Investments Trust Management Co., Ltd. • Associate Professor of College of Business Administration, Ritsumeikan •
Slide 29: Business Segments
2 Business Segments ■ Starting FY2026.6, we moved MVNO from Marketplace to a new segment under Japan Business1 called “Other Bets,” established based on nature of profitability Japan Business Financial Results Presentation Material Marketplace Fintech Other Bets US Other Adjustments C2C Payment MVNO
Slide 30: Approach to Capital Allocation
2 Approach to Capital Allocation (Excerpt from FY2025.6 Q4 Presentation Materials) ■ Alongside our transition to a phase of profit growth, we expect retained earnings to become positive in FY2026.6 if progress goes according to our plans Financial Results Presentation Material Internal Reserve Levels
Slide 31: Increase to Issuer Ratings
2 Increase to Issuer Ratings ■ Acquired a rating of BBB (Stable) for both Mercari and Merpay from Rating and Investment Information (R&I) ‐ This is an increase of one rank from BBB-, which we acquired in FY2025.6 ■ Rationale ‐ Mercari: Mercari has enhanced its profitability by leveraging its user bas
Slide 32: FY2027.6—Mid-Term Policy
FY2027.6—Mid-Term Policy 2 (Excerpt from FY2025.6 Q4 Presentation Materials) Aim essentially for top-line growth associated with increased profitability Consciously balance growth and profitability Revenue: Prioritize high top-line growth Double-digit Financial Results Presentation Material (Billion J
Slide 33: FY2027.6—Mid-Term Objectives of Main Businesses (Updated)
FY2027.6—Mid-Term Objectives of 2 Main Businesses (Updated) (Excerpt from FY2025.6 Q4 Presentation Materials) Group-wide Mid-Term Objectives ■ Work with external partners to realize an ecosystem ■ Promote global expansion by growing our US business and strengthening crossborder transactions ■ Create
Slide 34: FY2026.6—Business Objectives
2 FY2026.6—Business Objectives (Excerpt from FY2025.6 Q4 Presentation Materials) Consolidated Guidance Policy/Major Initiatives ● Make preparations for FY2027.6 Revenue Core operating profit1 ● Essentially aim for top-line growth that will lead to increased profits 200.0–210.0B JPY 28.0–32.0B JPY Fina
Slide 35: Major Itemization of Consolidated BS
2 Major Itemization of Consolidated BS ■ We will continue to leverage various methods of financing and appropriately control our balance sheet to maintain a sound financial foundation CB + borrowings Convertible bonds and long-term (excluding funds financed by borrowings Primarily deposits of funds Cas
Slide 36: Fintech—Liquidation of Receivables
2 Fintech—Liquidation of Receivables ■ Began liquidation of receivables for Merpay Smart Money, achieving non-recourse financing for all major credit services ■ We will continue to expand and diversify financing in sync with the growth of our credit services centered on non-recourse receivable liquida
Slide 37: Marketplace—Cost Composition (Quarterly)
2 Marketplace—Cost Composition (Quarterly) (Billion JPY) Financial Results Presentation Material １ 1. Outsourcing expenses, depreciation, land rent etc. 37
Slide 38: Kashima Antlers—2025 Meiji Yasuda J1 League Champions
2 Kashima Antlers—2025 Meiji Yasuda J1 League Champions ■ In the 2025 Meiji Yasuda J1 League, Kashima Antlers achieved their 9th league championship and 21st title Financial Results Presentation Material ■ We are continuing our commitment to the Antlers’ hometown, the Rokko region of Ibaraki, with a
Slide 39: Disclaimer
Disclaimer This material is compiled for the purpose of providing information only, and is not intended to solicit readers to purchase securities in Mercari. The forward-looking statements, including the financial results forecast, contained in these materials have been prepared based on information