Turning infrastructure into a platform

GMO Payment Gateway brings together merchant contracts and payment data and, under some contracts, handles settlement to merchants. Its income depends on monthly charges, processing counts and payment values. Continuing use supported FY2025 revenue, but the money processed does not all become the group’s revenue or cash available for its own use.

The year ended March 2026 paired a dedicated-terminal buyer-fee increase with lower average seller fees reflecting large-consignor rebates. Entry services and completed-transaction services use different denominators, while on-site and remote access share a membership system. Consignments increased, and vehicle-moving and security costs also rose. USS combines participant-specific charges, access channels and the work of handling physical vehicles.

PARK24’s domestic operations connect renting idle land and visitor parking, or managing sites for their owners, with supplying cars and encouraging their use. The ¥6,127 million of FY2025 Times CAR parking costs (intragroup transactions) makes that connection visible in segment reporting. Vehicle expansion also left challenges in member acquisition and usage. Securing places and getting people to use the cars are both part of sustaining the network.

Mercari combines the place where people find and trade goods with compensation, appraisal and payment services. Marketplace transaction value reached ¥1,285.6bn in the year ended June 2026. Year-end credit balances were ¥358.1bn, alongside ¥211.2bn of borrowings from receivable financing. Compensation speed, a narrowly defined collection rate and funding describe different responsibilities. As trading expands, resolving disputes, assessing credit and arranging finance become important parts of operating the business.

MonotaRO helps customers find supplies and handle internal purchase requests and approvals, then fills orders from its stock and suppliers. Its enterprise business sells supplies through purchasing-management services: FY2025 sales were ¥106.31bn, or 32.9% of standalone sales. About 95% of companies in its Large category had at least one account holder, compared with about 10% of their sites. The denominators are companies and sites, respectively. To win more orders, MonotaRO needs to reach users at individual factories and offices and provide the storage and shipping capacity to serve them.

JR East moves people by rail, sells goods through group shops, rents out premises and operates hotels. Transportation accounted for about 66% of FY2026 revenue. The three non-transportation segments generated about ¥1.039 trillion of revenue and a simple sum of ¥226.4 billion in segment profit, above Transportation’s ¥194.4 billion. Consolidated operating income differs because of adjustments. JR East plans to expand property development, sales and management, and to connect Mobility and Lifestyle Solutions through Suica and data. The scale of the existing businesses should be read separately from those intended connections.