Linkage Global Inc
linkagecc.comWhat Do They Do?
Runs online stores for sellers on Japanese cross-border e-commerce platforms, and sells consumer products sourced from Japanese and Chinese manufacturers and brands to e-commerce sellers and independent website operators.
20-F for FY2025, filed Jan 30, 2026We are a holding company incorporated in the Cayman Islands with no operations of our own. Linkage Cayman conducts its operations through…View ↗
Cross-border sales operations were initially launched in 2011 in Japan through our subsidiary, EXTEND. Products are sourced from Japanese…View ↗
We have been providing fully managed e-commerce operation services to sellers on Japanese cross-border e-commerce platforms since April…View ↗
How Do They Make Money?
Sells sourced consumer products at a margin, with sales counted when products transfer to customers; it also manages sellers’ Japanese-platform shops for a commission based on store GMV. Digital-marketing commissions came from social platforms for qualifying ads placed during the contract period.
20-F for FY2025, filed Jan 30, 2026Cross-border sales. Products are sourced from Japanese and Chinese manufacturers and brands, together with private label smart products…View ↗
The Group engages in the sale of food, beauty products, health products and other consumer products in Asia, by exploiting its advantages…View ↗
The clients only need to be responsible for the delivery of goods. The Group charges 10% of the GMV(Gross Merchandise Volume) of the online…View ↗
For digital marketing services, the Group acts as an authorized agent advocating Merchants to display ads on social media platforms. In…View ↗
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20-F for FY2025, filed Jan 30, 2026
FY2025 revenue by product or service (Revenues from external Customers) ↗
$5.1M
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20-F for FY2025, filed Jan 30, 2026
$5.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Cross-border sales
Sold outright
20-F for FY2025, filed Jan 30, 2026 |
24%
FY2022: 81%
|
Cross-border sales, FY2025
$1.2M Sources
|
Sold outright |
|
Fully managed e-commerce operation services
Usage-based
20-F for FY2025, filed Jan 30, 2026 |
73% |
Fully managed e-commerce operation services, FY2025
$3.7M Sources
|
Usage-based |
|
Digital marketing services
Usage-based
|
1.5%
FY2022: 18%
|
Digital marketing services, FY2025
$76.9K Sources
|
Usage-based |
|
Others
|
1.6%
FY2022: 0.8%
|
Others, FY2025
$81.7K Sources
|
Who Are Their Customers?
E-commerce sellers and independent website operators place product orders directly by email. Sellers with their own products hire the company to run stores on Japanese e-commerce platforms.
20-F for FY2025, filed Jan 30, 2026
Do Revenues Turn Into Profits?
No. It lost $7.4M in FY2025.
20-F for FY2025, filed Jan 30, 2026
−$4.6MView ↗
20-F for FY2025, filed Jan 30, 2026
−$7.4MView ↗
20-F for FY2025, filed Jan 30, 2026
−$4.9MView ↗
How Are They Changing?
Shrinking. Revenue fell 67% in 4 years, from $15.5M in FY2021 to $5.1M in FY2025, about 24% a year.
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