May 2026
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Largest Consumer Marketplaces Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Recruit Holdings, Mercari, Kakaku.com, Visional and BuySell Technologies.
 | Recruit is a holding company for various technology and employment-related businesses. Recruit’s primary business is its HR technology segment, in which it owns two out of three globally scaled employment-related platforms: www.indeed.com, an online marketplace for employment; and www.glassdoor.com, an online review site for employers. Recruit also owns various marketing businesses operating in Japan for life events and lifestyle, a software solutions business for small and medium-size enterprises, or SMEs, in Japan, and various staffing businesses operating throughout the developed world. | $68 | +27% | $95B | $91B | 4.1x | 22.5x | ||
| Mercari operates the largest consumer-to-consumer secondhand goods trading platform in Japan in Mercari, with over 23 million monthly active users and over JPY 1.1 trillion in gross merchandise value in fiscal 2022. We estimate that it currently has over 40% market share in the online C2C market, making it the top platform in Japan. It operates a domestic fintech business and a C2C marketplace app business in the US as well. Domestic business roughly accounts for over 95% of its total GMV. | $26 | +55% | $4B | $4B | 3.3x | 21.9x | ||
| Kakaku.com Inc. is a Japan-based internet company operating various web services. The company operates through four segments. The Incubation Business includes real estate and housing site Smity, travel review site Fort Travel, movie information site Movie.com, automotive site web CG, dynamic package systems, and the bus comparison site Bus Comparison Navi. The Job Box Business operates the job search site Job Box and job information site Jobcube. The Kakaku.com Business operates the purchasing support site Kakaku.com and engages in insurance services through Kakaku.com Insurance Co., Ltd. The Tabelog Business operates the restaurant search and reservation site Tabelog. It generates the majority of its revenue from the Tabelog business segment. | $21 | +26% | $4B | $4B | 7.9x | 18.6x | ||
| Visional Inc is engaged in operation of internet services including BizReach, an online direct recruiting platform specialized for professionals. | $52 | -26% | $2B | $2B | 3.0x | 10.5x | ||
| BuySell Technologies Co Ltd is engaged in providing internet-based reuse business. It offers purchase services from all over Japan to various sales services such as EC and special events. The company's products are kimono, stamps, coins, precious metals, jewelry, branded goods, watches, antiques, fur, liquor, among others. | $26 | +43% | $2B | $2B | 2.5x | 23.6x | ||
| DIP Corp is a Japan-based technology company that mainly provides job information and employment agency services online. The company has five business divisions. The Baitoru Com segment offers job information to contractors and recruiting companies. The Job Engine segment provides job offering and career change information to recruiting companies. The Hatarako Net provides staff service job information to staffing companies. The Other division specializes in services for restaurant customers, while the Agent segment provides employment services for healthcare facilities. | $11 | -23% | $578M | $467M | 1.4x | 5.6x | ||
| GAtechnologies Co Ltd is a Japan based company engaged in development and operation of real estate transaction platform. The company is also engaged in the development and management of application for real estate owners and provides crowdfunding service for second-hand divided apartments. | $9 | -18% | $384M | $364M | 0.2x | 4.3x | ||
| Bengo4.com Inc provides online legal consultation services. The company offers contents such as Q&A services, a database of over 7,000 registered lawyers, and its own news services accompanied with legal analysis of recent news to legal professionals. | $15 | -24% | $342M | $318M | 3.6x | 21.0x | ||
| ZIGExN Co Ltd develops and operates the internet media platforms called EX Sites that provide information from multiple media and submit user's requests to multiple media in one access. The company's Life Media Platform business developed services to a wide range of areas related to daily life. The company operates career change EX, an employment site, Rent SMOCCA EX, a search site for real estate information, Pharmacist jobs EX, a pharmacist job search site, among others. | $2 | -19% | $245M | $195M | 1.2x | 4.4x | ||
| Port Inc is involved in the internet media business. It is developing technology in the three social task areas of career (employment), finance (finance) and medical (medical). The objective of the group is to solve the social issues with technologies. | $14 | +19% | $181M | $222M | 1.6x | 9.6x | ||
| Lifull Co Ltd is a Japanese technology company. Its lines of business are domestic real estate information services, services for domestic real estate companies, aggregation of real estate information, portal services, and other services. Its major subsidiaries are Renters Co., Trovit Search, Lifull Marketing Partners, and Lifull Co. | $1 | +2% | $158M | $153M | 0.8x | 4.6x | ||
| SharingTechnology Inc is a life service matching platform that connects a variety of user needs arising from ever-diversifying lifestyles and service providers who cater to such needs with high-quality services. Its platform enables users to search, compare, and inquire about the optimal service provider from approximately 200 service genres on living to solve troubles and what to do in their daily lives. | $6 | -5% | $146M | $116M | 2.1x | 8.2x | ||
| Syuppin Co Ltd sells used products online through its website. The company sells used cameras, watches, accessories, writing instruments, among others. | $7 | -8% | $139M | $157M | 0.5x | 7.8x | ||
| Autoserver Co Ltd is engaged in used car auction agency service and brokerage service for used car dealers on the website. The used car distribution platform ASNET operated by the company is a used car distribution web service that can be used by used car dealers and automobile-related businesses with no membership fee or monthly membership fee. | $17 | +13% | $126M | $55M | 1.3x | 3.1x | ||
| Rakumachi Inc Formerly Firstlogic Inc operates real estate investment portal site. The Company offers services to professional, learner of real estate investment, people looking for real estate and the sale of real estate. | $6 | +1% | $121M | $117M | 5.4x | 11.9x | ||
| OpenWork Inc is engaged in the development and management of OpenWork job and recruitment information platform for job-changing and employment-based employee review data. The company operates in a single segment, the working data platform business. | $6 | -11% | $119M | $72M | 2.4x | 9.5x | ||
| Demae-Can Co Ltd Ltd operates an Internet store in Japan. The company operates through two business segments including Demae-can Business and Mail Order Business. The Demae-can segment operates a website for the door-to-door delivery service, and the mail order sales segment sells, Shochu to restaurants on the phone. | $1 | -52% | $82M | ($74M) | (0.3x) | 2.4x | ||
| Temairazu Inc is a Japan-based company engaged in the operation of comparison.com, an overall comparison site. It provides comparison services in the fields of shopping, travel, insurance, asset investment, learning credential, motorbike, and business. | $13 | -32% | $79M | $39M | 2.6x | 3.8x | ||
| Livero Inc operates a relocation support business. Its relocation support business assists individuals, real estate companies, moving companies, and corporate staff with finding apartments, arranging moving services, setting up essential utilities (like electricity, gas, water, and internet), handling relocation paperwork, and helping with the setup of new company housing. The services are offered to customers through its New Lifestyle Service Platform. The various services offered by the firm are Easy NAVI, housing solutions for companies that do not have a company housing system, Hakopla, a moving platform that matches moving companies together, Benefit Station, Housing Rakutto NAVI, and others. | $12 | +16% | $66M | $54M | 1.9x | 9.8x | ||
| RIDE ON EXPRESS Holdings Co Ltd is a Japanese company engaged in the food delivery business. | $6 | -3% | $60M | $29M | 0.2x | 5.0x | ||
| Enechange Ltd is a energy switching platform for consumers, and cloud based SaaS applications namely EMAP (digital marketing), SMAP (AI-based smart meter analytics) for energy companies. | $1 | -38% | $55M | $30M | 0.7x | (7.0x) | ||
| Open Door Inc is engaged in the planning and operation of game content for mobile phones, software development, and content delivery. It is also involved in development and provision of online systems for the internet and mobile phones. The company operates in two sites Travelko, a travel comparison site and GALLERY JAPAN, a japanese traditional art crafts site. | $2 | -51% | $48M | $34M | 2.3x | (75.2x) | ||
| Gurunavi Inc is a Japan-based company which acts as a restaurant search site which provides the latest information of expansive numbers of member restaurants. The company provides its restaurant information to TripAdvisor, a travel website, such as detailed menu, ingredient, seating, pricing and more through personal computers, cellular phones, and smartphones. Gurunavi also provides home delivery catering, wedding information, the sale of food products and other travel-related business services. | $1 | -52% | $44M | $44M | 0.5x | 13.6x | ||
| Koukandekirukun Inc is developing an e-commerce business that sells sets of housing equipment and installation work. The Group operates in a single segment, the e-commerce business for home appliances. | $5 | +0% | $37M | $34M | 0.5x | 24.4x | ||
| Coconala Inc operates a website to buy and sell knowledge, skills, and experience from users who are willing to teach. The company has three reportable segments: Marketplace, Media, and Agent. Marketplace operates Coconala, a marketplace for skills that allows individuals to buy and sell services based on their knowledge, skills, and experience. Media operates Coconala Legal Consultation, a search media that allows individuals to find lawyers that suit them. Agent operates Coconala Tech. | $2 | -34% | $35M | $23M | 0.4x | 8.1x | ||
| Lancers Inc is a freelance jobs information company based in Tokyo. The company has partnered with SAP Japan to offer a platform for freelancers to take advantage of companies that provide SAP-based working opportunities. | $2 | -- | $26M | $18M | 0.6x | 10.2x | ||
| Aucfan Co Ltd provides media management services. The Company is the auction shopping search site. It allows users to compare, search, and analyze auction, and shopping product and price information. | $2 | -15% | $21M | $2M | 0.1x | 2.2x | ||
| Rebase Inc is engaged in the development and operation of the online marketplace Instabase, a platform for matching open rooms to users who can rent them either on an hourly or daily basis, as well as other related businesses. It is a matching service offering that allows customers to make reservations online from their computer or smartphone. Instabase offers a wide variety of spaces, including conference rooms, telework spaces, old houses, photography studios, and dance studios, depending on the usage scenario. In addition, the space can be used for business purposes such as meetings, business negotiations, seminars, training, and study sessions, as well as yoga and dance lessons, photography, home activities, and more. | $3 | -65% | $14M | $7M | 0.6x | 2.1x | ||
| Creema Ltd is engaged in the planning, development, and operation of the handmade marketplace Creema and the provision of various services for empowering creators. It also engages in planning, production, and management of the handmade in Japan festival (HMJ), the craft party. It's Creema is a handmade marketplace where creators and consumers can buy and sell works directly online. The Company operates in a single segment, the Creator Empowerment Business. | $1 | -- | $9M | ($7M) | (0.5x) | (7.8x) | ||
| AirCloset Inc operates a fashion rental platform, airCloset. The company’s services include Online Fashion Rental Service, airCloset; Fashion Rental Shop, airClosetxABLE; Online Styling EC Service, airCloset Fitting; Manufacturer's official monthly rental mall, airCloset Mall; and Remote personal styling service, airCloset Talk. | $1 | -67% | $8M | $14M | 0.4x | 3.6x | ||
| Median | $6 | -13% | $120M | $64M | 1.3x | 8.0x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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