Hello, this is Murakami from Kakaku.com. Thank you very much for joining us today. I would now like to explain our financial results for the second quarter of the fiscal year ending March 2025. First, I would like to report on the consolidated operating results on page three, r evenue for the second quarter was JPY 18.65 billion, up 16% year-on-year, and operating profit was JPY 7.057 billion, up 15.2% year-on-year. As described in the footnote below, we have recorded impairment losses of JPY 588 million, mainly on intangible assets and goodwill related to the business of our subsidiary, Pathee, based on Pathee's progress in the first half and the outlook for the second half. Excluding this impact, operating profit was JPY 7.646 billion, and operating margin was 41%.
Given the current business progress overall and the growth investment in Kyujin Box planned for the second half of the fiscal year, our full-year forecast remains unchanged from the guidance we issued in May. Page four shows quarterly operating results, and on pages five and six, we provide a breakdown and trends of operating expenses. On page seven are operating results by segment. Kakaku.com revenue was +9.2% year-over-year, s egment income was -13.7%, Tabelog revenue was +21.1%, and segment income was +31.5%. Revenue for Kyujin Box was +30.8%, segment income was +8.6%, Incubation revenue was +0.5%, while segment income was -0.9%. The impairment losses relating to our subsidiary, Pathee, which I explained earlier, have been recorded in the Kakaku.com segment. Excluding these losses, segment income for Kakaku.com was +9.2% year-on-year, indicating steady progress. I will explain each segment in more detail on the following pages.
First, on page nine, we have details for the Kakaku.com segment. Kakaku.com posted positive year-on-year sales in all businesses, including the Shopping business and Advertising business, where sales had been declining. Segment profit is as I explained earlier. Next, on pages 10 and 11, I will explain each of the businesses of Kakaku.com. First, the Shopping business finally turned positive overall, as the decline in revenue from durable goods bottomed out. In the Service business, personal finance and telecommunications continued to perform well, but the growth rate is gradually slowing down as the positive factors contributing to this performance have run their course. In the Advertising business, sales activities in the second quarter for banner and tie-in ads progressed quite well, resulting in a year-on-year revenue increase.
However, the environment surrounding our business has not changed significantly at this point, so we honestly do not see any signs of renewed growth. Finally, the Insurance business continues to grow steadily, but due to major insurance companies raising fire insurance premiums in October, we expect a slightly more moderate growth in the second half. Next, on page 12, we have details for Tabelog. Both Restaurant Advertising and Restaurant Reservation continued to grow. As in the first quarter, segment income increased significantly due to the increase in revenue and an increase in expenses last year due to an expansion of our direct sales having run its course. Continuing on page 13, we have the quarterly trends of various KPIs for Tabelog. The number of contracted restaurants has increased for both Restaurant Advertising and Restaurant Reservation.
The number of online reservations also increased steadily against the backdrop of the increase in the number of contracted restaurants. Then, on page 14, we have Kyujin Box. Revenue increased by 30.8%, and segment income increased by 8.6%. While revenue growth remained high, segment income margins declined, just as in the first quarter. This is due to an increase in agency commissions as we acquire paid job listings directly from hiring companies, as well as an increase in upfront investments such as Advertising expenses. Please see page 15 for quarterly trends in the major KPIs for Kyujin Box. Finally, on page 16, we have the Incubation segment, where both the Real Estate and Travel and Transportation domains continued their upward trend. Please see page 18 for this quarter's topics. Here we have Tabelog's partnership with KKday.
KKday, headquartered in Taiwan, offers a reservation service for optional tours and activities in multiple languages, including Chinese and English, and is used by 15 million people per month, mainly from Asia. Through this collaboration, similar to China's Meituan Dianping and Hong Kong's OpenRice, Japanese restaurants can be reserved within KKday's site, and Tabelog provides the API for the reservation inventory on the back end of the site. The business model is similar to the multilingual version of Tabelog, with users paying JPY 400 and restaurants paying JPY 200, and we have a revenue-sharing agreement with KKday for a portion of the revenue. On page 19, we have included some screen images for reference. This concludes my brief explanation of the financial results for the second quarter of the fiscal year ending March 2025. Thank you.