As of December 2023, Mercari was the largest listed startup in Japan based on initial market capitalization, which amounted to billion Japanese yen. The flea market application was Japan's first unicorn and went public in June 2018.
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METI (Japan). (March 6, 2024). Largest public startup companies in Japan as of December 2023, by initial market capitalization (in billion Japanese yen) [Graph]. In ÌÇÐÄÆÆ½â°æ. Retrieved August 01, 2026, from /statistics/1457109/japan-major-listed-startup-companies-by-initial-market-capitalization/
METI (Japan). "Largest public startup companies in Japan as of December 2023, by initial market capitalization (in billion Japanese yen)." Chart. March 6, 2024. ÌÇÐÄÆÆ½â°æ. Accessed August 01, 2026. /statistics/1457109/japan-major-listed-startup-companies-by-initial-market-capitalization/
METI (Japan). (2024). Largest public startup companies in Japan as of December 2023, by initial market capitalization (in billion Japanese yen). ÌÇÐÄÆÆ½â°æ. ÌÇÐÄÆÆ½â°æ Inc.. Accessed: August 01, 2026. /statistics/1457109/japan-major-listed-startup-companies-by-initial-market-capitalization/
METI (Japan). "Largest Public Startup Companies in Japan as of December 2023, by Initial Market Capitalization (in Billion Japanese Yen)." ÌÇÐÄÆÆ½â°æ, ÌÇÐÄÆÆ½â°æ Inc., 6 Mar 2024, /statistics/1457109/japan-major-listed-startup-companies-by-initial-market-capitalization/
METI (Japan), Largest public startup companies in Japan as of December 2023, by initial market capitalization (in billion Japanese yen) ÌÇÐÄÆÆ½â°æ, /statistics/1457109/japan-major-listed-startup-companies-by-initial-market-capitalization/ (last visited August 01, 2026)
Largest public startup companies in Japan as of December 2023, by initial market capitalization (in billion Japanese yen) [Graph], METI (Japan), March 6, 2024. [Online]. Available: /statistics/1457109/japan-major-listed-startup-companies-by-initial-market-capitalization/