May 2026
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Largest Vertical Marketplaces Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Recruit Holdings, Visional, Izumi Co, Timee and UT Group.
 | 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. | $61 | +11% | $85B | $81B | 3.6x | 19.9x | ||
| Visional Inc is engaged in operation of internet services including BizReach, an online direct recruiting platform specialized for professionals. | $49 | -15% | $2B | $2B | 2.8x | 9.6x | ||
| Izumi Co Ltd is engaged in operating shopping centres, general merchandising stores, clothing, household goods and food products. Most of the stores are located in Kyushu Region, Chugoku Region, and Shikoku Region in Japan. The company operates through segments including retail, retail-peripheral operations, and other. The retail segment is engaged in the retail business through shopping centres. The retail-peripheral operations segment consists of a credit and finance business, shop facility management, and restaurant operation, which deliver the vast majority of the business' income. The other segment includes wholesale and real estate operations. | $6 | -- | $1B | $2B | 0.5x | 6.9x | ||
| Timee Inc is engaged in operating Timee, on-demand job platform. | $7 | -35% | $703M | $689M | 3.1x | 15.3x | ||
| UT Group Co Ltd is engaged in worker dispatch and outsourcing of permanent employees in manufacturing, design, and development, construction, and other sectors. The firm operates in three segments: Manufacturing Business, Solution Business, and Engineering Business. | $1 | +5% | $630M | $508M | 0.4x | 5.0x | ||
| 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 | -24% | $561M | $450M | 1.3x | 5.4x | ||
| 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 | +10% | $380M | $359M | 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. | $16 | -17% | $369M | $345M | 3.9x | 22.7x | ||
| En Inc is a Japanese company that provides human resource services. It offers online job information sites and recruitment support platforms for various employment types, including full-time, part-time, and temporary work. The company provides recruitment consulting, career change support, and talent assessment services. It also offers tools for employee training, evaluation, and retention, aimed at improving organizational performance. | $8 | -28% | $295M | $181M | 0.4x | 2.0x | ||
| Quick Co Ltd provides human resource solutions and information services. The company operates in four business divisions namely Recruiting Division, Staffing Services Division, Information Publishing Division, and Others. | $5 | -2% | $260M | $177M | 0.9x | 4.8x | ||
| 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. | $3 | -14% | $249M | $199M | 1.2x | 4.5x | ||
| One Career Inc is engaged in Career data platform business which includes recruitment digital transformation support services, etc. | $12 | -8% | $225M | $183M | 3.7x | 12.9x | ||
| 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. | $15 | +44% | $194M | $235M | 1.7x | 10.2x | ||
| 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 | +8% | $157M | $152M | 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 | +0% | $151M | $121M | 2.2x | 8.5x | ||
| Syuppin Co Ltd sells used products online through its website. The company sells used cameras, watches, accessories, writing instruments, among others. | $7 | -6% | $140M | $158M | 0.5x | 7.9x | ||
| Gakujo Co Ltd provides employment information, various recruitment consulting services, and manpower dispatch and job placement services. | $10 | -9% | $132M | $93M | 1.3x | 5.6x | ||
| 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 | +8% | $126M | $55M | 1.3x | 3.1x | ||
| AirTrip Corp engages in the online travel agency business in Japan. The company also provides tourism services. In addition, it offers IT offshore development project services, such as laboratory offshore development and BPO services. Further, the company engages in the investment business. | $5 | -8% | $123M | $39M | 0.2x | 1.6x | ||
| 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 | -17% | $115M | $68M | 2.2x | 8.9x | ||
| 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 | 0% | $108M | $104M | 4.8x | 10.5x | ||
| MarkLines Co Ltd engages in the provision of an automotive industrial portal. The company's Information Platform offers online information services, including information about suppliers, such as who supplies whom, plant data, and market trends; sales and production statistics; reports on technology and market trends; and model plan data comprising forecasts. It also provides B2B promotional support and advertisement services that include promotional emails and banner ads under the LINES name to its Information Platform members. The company serves OEMs, parts suppliers, and material suppliers. | $8 | -34% | $106M | $83M | 2.3x | 6.0x | ||
| 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 | -50% | $83M | ($73M) | (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. | $14 | -31% | $80M | $40M | 2.7x | 3.9x | ||
| 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. | $13 | +16% | $67M | $55M | 1.9x | 10.0x | ||
| 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 | -30% | $63M | $39M | 0.9x | (8.9x) | ||
| RIDE ON EXPRESS Holdings Co Ltd is a Japanese company engaged in the food delivery business. | $6 | -2% | $60M | $30M | 0.2x | 5.1x | ||
| CrowdWorks Inc is engaged in the crowdsourcing business. The group has two reporting segments: Matching Business and Business SaaS Business. | $4 | -45% | $59M | $36M | 0.2x | 2.5x | ||
| Wantedly Inc develops a social-networking service for business professionals. | $6 | -24% | $58M | $20M | 0.6x | 1.9x | ||
| Adventure Inc engages in the provision of online travel services. It operates Skyticket and WANNATRIP website portals. The Skyticket website portal offers online ticket booking services for multiple airlines, both domestic and overseas. The WANNATRIP website portal offers package tours and cruise travel to various destinations. | $8 | -66% | $57M | $14M | 0.1x | (3.2x) | ||
| 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 | -48% | $52M | $39M | 2.6x | (84.9x) | ||
| 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 | -53% | $43M | $43M | 0.5x | 13.3x | ||
| 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 | -26% | $36M | $24M | 0.4x | 8.5x | ||
| VELTRA Corp is an online tour and activity booking service company. The company connects travelers to distinctive local experiences across the world and has branches in Honolulu, London, Paris, and Malaysia. | $1 | -56% | $32M | ($956K) | (0.0x) | (0.5x) | ||
| 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 | -66% | $14M | $7M | 0.6x | 2.0x | ||
| 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 | -57% | $10M | $16M | 0.5x | 4.2x | ||
| 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) | (7.9x) | ||
| Median | $6 | -17% | $123M | $83M | 0.9x | 5.0x |
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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