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Flea market operator Mercari in search of new hit services

Former Japanese unicorn sinks deeper into the red on heavy US spending

Mercari is currently in a "growth phase," CEO Shintaro Yamada, right, said at the earnings event Thursday.

TOKYO --Mercari's first earnings as a publicly traded company highlight its dependence on the core flea market business in Japan, as the company explores new growth engines through trial and error.

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