Japanese Portal Operator Lifull Sees Revenue Rise as it Consolidates FazWaz and Lamudi

May 12, 2023
Share this Post: 

The Japanese real estate portal and aggregator operator Lifull has released a report on its activities and performance for the second quarter of its financial year. Highlights of a period in which the company said that results were "progressing in line with forecasts" include:

  • The average revenue per agent in Japan was up 7% at JPY 71k ($529).
  • Company revenue was up 21% year-on-year at JPY 11,585 million ($86 million).
  • Net profit of JPY 593 million ($4.4 million).

Lifull operates the Homes.co.jp portal domestically as well as international aggregators Mitula, Trovit and Nestoria which together with portal assets such as dotproperty, Hipflat, LaEncontré, and Properati form its Lifull Connect overseas segment.

Domestically Lifull managed to increase profits largely thanks to a reduced branding spend which decreased -57% year-on-year. The company also benefitted from a 15.5% increase in listings volumes in Japan from October to March.

Lifull has been leaning heavily into virtual and augmented reality technology as it follows a similar tactic to U.S. giant Zillow in trying to create an all-in-one 'hyper super assistant app' for Japanese property seekers. The company is now looking to integrate AI into the mix and has appointed CTO Tsubasa Nagasawa to the newly created role of Head of LIFULL HOME'S Generative AI Product Development.

Elsewhere, the company's Overseas segment saw the revenues from its newly acquired Thai brokerage business FazWaz consolidated into results for the first time. The company remarked that FazWaz has been exceeding its expectations since it was purchased for an undisclosed sum in February.

Lifull's Overseas segment also saw the consolidation of the Mexican real estate portal Lamudi which was acquired in March. According to Lifull, Lamudi Mexico generated JPY 0.77 billion ($5.7 million) in revenue in 2022 and has more than 6,000 agent clients.

May 12, 2023
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Vivla Artwork
Vivla Partners up With Four Agents to Promote Properties in Extra Markets

Second home co-ownership platform Vivla has signed collaboration agreements with four realtors to jointly promote properties across a larger area...

Read More
Magicbricks App 1
Indian Portal MagicBricks Rolls Out Tenant Screening Service

MagicBricks has launched a tenant screening service called Know Your Tenant (KYT). Using KYT, MagicBricks has promised homeowners that they...

Read More
People Roundup: Simployer, Adevinta, Domain Group, Realtor.com, Dubizzle

There have been a handful of big-name moves recently. For the sake of convenience, we've bundled them together into one...

Read More
Zillow Neural Zestimate
Zillow's ShowingTime Releases New Software Package for Agents and Brokers

ShowingTime+, a brand within the Zillow Group, has announced the launch of Appointment Center by ShowingTime+, a software package that...

Read More

Editor's Pick