Mercari Inc (MRCIF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

So we would like to begin Mayor Kari's FY 2024 second quarter earnings briefing. The earnings briefing will be conducted by Executive Officer and CFO of Mayor Kari, Sayaka Eda. Eda will take it from here. Thank you. Good afternoon. Good afternoon. Thank you for taking part in Mercari's FY2024 second quarter earnings briefing. I'm Eda, Executive Officer and CFO of Mercari. So one year ago, we updated our group mission, circulate all forms of value to unleash the potential in all people. In order to achieve this new mission, group mission, we have worked towards this mission, and we have made great progress. This is the agenda that we will be covering today. First, starting with the financial summary. These are the progress and highlights for FY2024 second quarter. first starting with a consolidated basis. We achieved our highest ever revenue as a result of steady growth of each business and group synergy. We have continued to invest in the future growth, and we have also managed the company by consciously balancing profitability. And as a result, we recorded core operating profit as expected. Now, looking at marketplace, initiatives for the loyalty program and areas we wanted to enhance, including cross-border transactions, category growth, B2C, contributed to GMV growth. As a result, GMV grew 10% year-on-year, and adjusted core operating profit was roughly 37%, which were as expected. Next, fintech. We strengthened our investment in MerCard, and as a result, the number of cards issued reached 2.5 million and has been growing very rapidly. The credit balance has exceeded $150 billion, and the collection rate improved to 99.1%. So these have also grown steadily, more so than ever before. And now looking at U.S., MAU has increased QONU for a second consecutive quarter. ...