Mercari Inc

4385: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Mercari Hallo's Earlier-Than-Expected Discontinuation Suggests Accelerating Management Decisions

Pujance Chan

Oct 14, 2025

Business Strategy and Outlook

Japan's online consumer-to-consumer, or C2C, secondhand goods trading market is about JPY 2.4 trillion and Mercari is the top platform with over 40% market share and 23 million monthly active users. Mercari charges sellers a 10% take rate on the platform due to its large buyer base and superior turnover speed.

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Mercari Inc

Mercari Hallo's Earlier-Than-Expected Discontinuation Suggests Accelerating Management Decisions

Business Strategy and Outlook

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