BASE
👤 Yuta Tsuruoka (Tsuruoka's mother ran a small Oita clothes shop and found Rakuten too hard; he built BASE for sellers like her.)🌐 site𝕏
BASE let anyone in Japan open a shop in minutes, free, then earns on every sale like a marketplace does.
Will it work? · our read
Profitable at last. A decade of losses buying the long tail is paying off. BASE turned profitable in 2024 and grew net profit over 5x in 2025, on take-rate from millions of tiny shops.
01How the money moves
Seller opens a free BASE shop in minutes
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Seller lists products; buyers check out
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BASE takes about 6.6% of each sale
02The numbers
¥20.7B ($138M)FiledFY25 net sales (TSE)
FY2025 (ended Dec 2025)source:
¥20,729M (about $138M), TSE FY2025 consolidated
TSE-filed figures; FY2025 was BASE's first year of solid profit. financials
From 9.7B yen of losses (FY22) to 20.7B yen and profit (FY25).
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You have the verdict. Members get the work behind it.
- The CENTS scorecard — where it's strong, where it's soft
- The founder's key move, and the counter-move
- How it could die — the evidence, and how sure we are
- The case against our own call
- A 🚀 launchpad prompt — the case, as a plan for your business
We rate our own confidence — and argue against ourselves. Nobody else in this category does.
Sources always public on all 537 cases · cancel anytime · 14-day refund
See a full teardown, free → ImportYetiSourcesSources last checked 9 August 2026
BASE (TSE:4477) financials: FY2025 net sales 20.7B yen, net profit 1.83B yenCEO Tsuruoka, FY2024 results: net sales 15.9B yen, BASE GMV 154B yenJapan Times: how his mother's comment sparked BASEBASE, Inc. investor relationsForbes: an Under-30 alum's Japanese e-commerce site
Revenue is TSE-filed: BASE, Inc. (TSE Growth, ticker 4477) FY2025 consolidated net sales of ¥20,729M (about $138M at 150 yen/USD), relayed by stockanalysis from the company's financial results; FY2024 was 15,981M yen, and FY22-23 ran losses. Founder Tsuruoka stated FY2024 BASE-business GMV of 154 billion yen and 2.3M cumulative shops opened in his results post (first-party, Japanese); GMV is buyer spend, not BASE's revenue. The about-6.6% take rate is from a 2020 breakdown and may have shifted. Verified: first-party statements plus filing relay. We never score you.