Japan-based general marketplace operator Jimoty Inc. posted profit for the fourth consecutive quarter in Q1 2023, according to its earnings announcement (in Japanese).
In Q1, the company recorded operating profit of JPY168 million ($1.2 million U.S.) as opposed to an operating loss of JPY2.8 million in the corresponding period a year earlier. Jimoty returned to profitability in Q2 2022 when it put the brakes on ad spending.
However, sales during the first three months were down by 3.2% year on year to JPY451 million ($3.3 million U.S.), and also slightly down from JPY457 million in the preceding quarter. The downturn was partly associated with the slowdown in consumer spending.
Horizontal Jmty.jp launched as a community bulletin and classified site in 2011. Its main competitors include Mercari and Z Holdings’ re-use business.