Japan-based LY Corp. posted a 14% year-on-year (y-o-y) revenue increase in its Re-use business segment for the first quarter ended June (Q1 FY2025), driven by a rebound in transaction value and the consolidation of newly acquired Beenos Inc., a cross-border e-commerce specialist.
The segment — which includes Yahoo Japan Auction, Yahoo Japan Flea Market, ZozoUsed, and Beenos — generated JPY12.4 billion ($83.9 million) in revenue, up from JPY10.9 billion in the year-ago quarter, according to the company’s earnings release.
Transaction value rose 3.4% y-o-y to JPY255 billion, marking the first growth in four quarters. The improvement was partly attributed to the addition of Beenos, acquired for an estimated $363 million. LY Corp. previously said it remained optimistic about the segment’s growth potential following the deal.
Performance within the division was mixed: Yahoo Japan Auction saw slower user growth, while Yahoo Japan Flea Market recorded increases in both sellers and successful bidders.
LY Corp. has recently introduced several initiatives to enhance engagement, including a trade-in service for ZozoUsed, an AI-powered listing function, and a golden seller program for Yahoo Japan Flea Market.
For comparison, rival Mercari’s Marketplace division brought in JPY27.9 billion ($189 million) in revenue during the same quarter.
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