Tokyo-based marketplace operator Mercari has announced a temporary prohibition on listings of unopened Pokémon Trading Card Game “30th CELEBRATION” expansion packs, effective from the product's release date of September 16. The restriction, detailed in a policy notice issued on September 15, also covers nine related card sets, regardless of whether they are opened or sealed, as well as bundles containing these items. The measure applies to both Mercari's main platform and its Mercari Shops service, though individual cards remain eligible for listing.
In its official communication, Mercari stated that the ban is intended to prevent marketplace disruption and protect transaction safety immediately following a high-demand product launch. The company will begin removing prohibited listings after midnight in Japan and will maintain the restriction until it determines that safe trading conditions can be assured, though no specific end date has been provided.
This action is separate from any measures taken by U.S. retailer Target, despite some ambiguity in earlier reports. The two entities involved are Tokyo-listed Mercari (TSE: 4385) and The Pokémon Company, which jointly oversee the distribution and sales of the trading cards.
Market Impact and Financial Considerations
Mercari has not disclosed the gross merchandise value (GMV) associated with the banned products, making it difficult to estimate the financial impact of this restriction. Even a strong launch of the Pokémon expansion would represent a negligible fraction of the company's ¥1.286 trillion in Marketplace GMV for the fiscal year ending June 2026, according to the latest fact book. Notably, entertainment and hobby goods have been a growth driver for Mercari's cross-border business, underscoring the strategic importance of collectibles even when individual releases are not financially material.
The core investor concern is not the one-day fee loss but the trade-off between liquidity and trust. By blocking scarce sealed products, Mercari is removing legitimate transactions alongside suspected scalper activity. If this policy leads to fewer disputes, fraudulent listings, or cancellations, the company may view the reduced volume as an acceptable cost for a safer marketplace. This interpretation is inferred from the policy's intent, not from any official guidance.
Stock Movement and Market Reaction
Mercari's shares closed at ¥3,621 on Wednesday in Tokyo, down 6.4% from Tuesday's close of ¥3,867. Trading volume was approximately 4.0 million shares. The company has not linked the share decline to the Pokémon notice, and given the undisclosed financial impact, attributing the move to this policy would be speculative.
The Pokémon Company's official product showcase indicates a broader launch slate, with additional waves of products arriving later. Mercari's restriction is narrower, applying only to unopened expansion packs and the nine specified card sets within Japan. It does not affect resale on other platforms, and individual card listings on Mercari remain permitted.
Potential Limitations and Counterarguments
Critics argue that the ban may simply redistribute resale activity rather than suppress it. Sellers could migrate to rival marketplaces, private groups, or direct transactions, while scarcity premiums persist. The policy might also frustrate ordinary collectors seeking to resell duplicate sealed items, potentially alienating a segment of Mercari's user base.
Going forward, key indicators to watch include the duration of the ban, any adjustments to the list of covered products, and whether Mercari reports measurable changes in dispute rates or cancellations. For shareholders, the larger metrics that matter are Marketplace GMV growth, monthly active users, and operating profit. This release serves as a live test of the company's safety policies designed to protect those core metrics, rather than a new earnings driver in itself.
