Tsukuruba Reports Record Sales as Cowcamo Marketplace Drives Growth

Japanese real estate platform Tsukuruba posted record-breaking sales and gross profit in its latest quarterly results, underscoring the continued growth of its Cowcamo marketplace. The company, which connects buyers and sellers of used and renovated homes, saw sales more than double year on year, despite rising operational costs.

Highlights of the company's second-quarter ending January 31st, included:

• Tsukuruba’s revenue surged to JPY1.8 billion ($12.3 million U.S.), up from JPY892 million a year earlier.
• Gross profit climbed 43% year on year to JPY852 million.
• Operating profit of JPY52 million ($350,000 U.S.), reversing a JPY12 million loss in the same period last year.

Tsukuruba’s core business revolves around Cowcamo, a marketplace that facilitates transactions of second-hand and renovated properties. The platform acts as an intermediary between buyers, sellers, and renovation service providers, offering a tech-driven alternative to Japan’s traditional property brokerage model.

Above: The PPW Pod discuss Tsukuruba's business model 

Cowcamo closed 250 transactions during the quarter, reflecting a 3% increase year on year. More notably, average revenue per transaction jumped 27% to JPY2.9 million, driven by increased demand for renovation services and rising property prices. The company noted that home purchases on the platform typically take between five and ten months to complete.

“The number of new members who registered in the first half of the year increased by 118% compared to the same period last year. In addition, as these new members smoothly progressed through the home purchasing process, the number of inquiries from these new members increased by 45%,” Tsukuruba stated in its financial report.

Despite these strong operational results, net profit declined by 87%, impacted by one-time gains from the sale of its real estate planning and design business in the previous year.

To sustain growth beyond commission revenue, Tsukuruba is expanding into home-flipping and other value-added services. The company has also partnered with local portal operator Lifull to accelerate digital transformation in Japan’s real estate sector.

With a growing user base and rising transaction values, Tsukuruba is positioning Cowcamo as a key player in Japan’s evolving second-hand housing market.