Re-use business segment of LY Corporation (formerly Z Holdings) posted a stable growth rate in the transaction value, although its revenue fell year over year during the third quarter to December 2023 (Q3 FY2023).

The re-use business segment, covering Yahoo Japan AuctionYahoo Japan Flea Market (formerly PayPayFleaMarket) and ZozoUsed, logged transaction value at Y262 billion in Q3 FY2023 compared to Y261 billion in Q3 FY2022, representing a marginal 0.4% y-o-y growth.

The segment’s quarterly revenue amounted to Y9.5 billion ($64.2 million U.S.), down 10.3% from Y10.6 billion in the year-ago quarter. The decline was steep when compared with 4.4% y-o-y drop in revenue in Q2 FY2023.

In comparison, competitors jp.Mercari.com and Jmty.jp, which are to release their financial results next week, reported Y25.2 billion and Y413 million, respectively, in quarterly revenues.

Commerce business revenue at LY Corporation, which was created last year after a merger of Z Holdings, Line Corporation, Yahoo Japan and two other subsidiaries, totaled Y217 billion ($1.5 billion) in Q3 FY2023, up 2.7% y-o-y.

See full results here and here.

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