MarketEnterprise Co.,Ltd.
3135・Standard Market・Retail Trade
Business
Market Enterprise Co., Ltd. is an internet-focused company established in 2006. Under its vision of being an "optimization trading company that realizes a sustainable society," it operates three segments: (1) a store-less online reuse business (buying, selling, and the "Oikura" platform), (2) a media business operating 10 media outlets that promote smart consumption, and (3) a mobile communications business offering the low-cost WiMAX service "Kashimo WiMAX." Its main customers are individual consumers considering selling or disposing of unwanted items, as well as consumers seeking to reduce communication costs. Consolidated net sales for FY2025 (ending June 2025) were ¥24,772 million, with the online reuse and mobile communications businesses accounting for the majority of sales. Listed on the Prime Market of the Tokyo Stock Exchange.
Business Model
In the online reuse business, the company purchases used items from individuals and corporations through platforms such as "Takaku Ureru Dot Com" and sells them via multiple marketplaces including Yahoo! Auctions, Amazon, Rakuten, and Mercari, as well as its own e-commerce site "ReRe," employing a CtoBtoC model. In the mobile communications business, it combines recurring (stock-type) revenue from monthly line fees for "Kashimo WiMAX" with one-time (shot-type) revenue generated at the time of new contract signings. The media business's main revenue comes from referral performance fees for directing traffic to article content. The three businesses form a structure in which each mutually contributes customer acquisition and traffic referral functions.
Company Strengths
Deployed 15 reuse centers nationwide and established three purchasing channels: home pickup, in-store, and on-site visits. Its proprietary integrated inventory management system enables simultaneous listing across multiple e-commerce sites and automatic inventory reconciliation, improving inventory turnover and enabling efficient purchasing and sales. The annual number of purchase requests in FY2025 (ended June 2025) reached approximately 430,000.
The reuse platform "Oikura" had 1,122 member stores and approximately 1.55 million cumulative users as of the end of June 2025, with municipal partnerships expanding to 294 municipalities (45.1% population coverage). Through public-private collaboration promoting SDGs, the company has built a mechanism to systematically capture demand for disposing of unwanted items driven by an aging and declining population.
The mobile communications business posted sales of ¥11,850 million (up 60.2% year on year) and segment profit of ¥552 million (up 21.0% year on year) in FY2025 (ended June 2025), exceeding the assumptions in the medium-term management plan. Recurring revenue from the accumulation of subscription lines has formed a stable earnings base, expanding to account for approximately 48% of the group's total sales.
ENVALITH's Perspective
Performance Trend
Revenue expanded 2.3x over four years, from ¥10,876 million in FY2021 to ¥24,772 million in FY2025, with growth continuing into the full-year FY2026 (ending June 2026) forecast of ¥26,900 million (up 8.6% year on year). However, profitability has sharply deteriorated: cumulative operating profit for the first nine months of FY2026 (ending June 2026) was ¥77 million, down 83.6% year on year. The main causes were a shortfall in new mobile line acquisitions due to inefficient advertising measures in the mobile communications business, and the resulting segment loss of ¥211 million. In terms of the external environment, the reuse market continues to expand steadily, driven by growing frugality and low-price preferences as well as rising SDGs awareness, with the online reuse business's segment profit remaining strong, up 15.8% year on year. The full-year forecast has been left unchanged, but it presumes a substantial profit recovery in the fourth quarter, and the likelihood of achieving this remains unclear.
Growth Strategy
Revenue recovery driven by strengthening the profit structure of the reuse business and improving advertising efficiency in mobile communications
Promoting labor reduction in part of the purchasing operations and improving operational efficiency through AI adoption. For consumer-oriented merchandise, both turnover rate and gross profit margin improved due to better inventory conditions, achieving increased revenue and profit on a gross profit basis. Continued strengthening of consulting sales (cross-buy) for on-site purchasing.
As of the end of March 2026, reached 317 municipalities and a population coverage ratio of 46.7% (an increase of 23 municipalities from the previous quarter). Sales activities focused on acquiring new merchants and improvements to the usability of the appraisal request form were implemented, resulting in steady growth in the number of merchants and revenue.
Working to resolve the inefficiencies in advertising measures that occurred in Q1, aiming to recover new line acquisition through improved CPA (customer acquisition cost). Continuing to improve ARPU through higher option attachment rates and upselling to upgraded plans, as well as generating revenue at the time of cancellation. The company expects segment profit to turn positive from Q4 onward.
For used agricultural machinery, revenue declined due to rebalancing of the domestic-to-overseas ratio and stricter purchasing standards, but profit margin improved on a gross profit basis, resulting in increased profit. For used automobiles, operational improvements prioritizing profit margin over turnover rate were advanced, achieving increased profit on a gross profit basis. Establishing a stable procurement system remains the next challenge.
Last updated: July 17, 2026