Z Holdings (formerly Yahoo Japan Corporation) has posted a 7.7% year-on-year growth in revenue from its reuse business, which includes Yahoo Auctions, PayPayFleaMarket and ZozoUsed, during the second quarter.

The segment’s sales increased to Y13.6 billion ($120 million) in Q2 from Y12.6 billion in the corresponding period a year earlier, according to earnings announcement.

Z Holdings (ZHD) is a joint venture between Japan-based Soft Bank and South Korea’s development conglomerate Naver.

Founded in 1996, Yahoo Japan owns and operates the country’s leading horizontal Yahoo Auctions (known as Yahuoku in Japanese), PaypayFleaMarket, fashion reseller Zozo and several other digital services.

In Q2, reuse business’s merchandise transaction value grew 8.8% year-on-year to Y220 billion ($1.9 billion) “due to higher spend per Yahuoku user and expansion of PayPayFleamarket,” ZHD said.

In September, Z Holdings acquired Yahoo Japan’s trade mark rights and licensed technology for $1.6 billion and stopped paying brand royalty to digital and mobile media company Oath Inc..

Overall, the group’s revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) rose 33.3% and 35.4% to reach record highs of Y378 billion and Y101 billion, respectively.

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