Zozo Inc

3092: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Zozo Earnings: Fair Value Estimate Up 6% on Lyst's Long-Term Growth Prospects

Pujance Chan

Aug 1, 2025

Zozo updated its fiscal 2025 guidance to include the consolidation of Lyst. Zozo now expects 2025 gross merchandise value to grow by 9.7% (organic growth of 1.5%), boosted by Lyst's projected GMV of JPY 50 billion. EBITDA guidance is trimmed by JPY 0.2 billion due to Lyst's operating losses.

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United States

Zozo Inc

Zozo Earnings: Fair Value Estimate Up 6% on Lyst's Long-Term Growth Prospects

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