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
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

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

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More