November 11, 2021

Consolidated Financial Results
for the Six months Ended September 30, 2021
[Japanese GAAP]
Company name:
Oisix ra daichi Inc.
Stock exchange listings: TSE
Securities code:
3182
URL: http://www.oisixradaichi.co.jp
Representative:
Kohey Takashima, Representative Director, CEOContact:
Kohei Matsumoto, Director, Corporate Planning Division General Manager
Scheduled date of filing of Quarterly Report:
November 12, 2021
Scheduled date of payment of dividend:
Preparation of supplementary materials for financial results:
Yes
Holding of quarterly financial results meeting:Yes(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for Six Months ended September 30, 2021
(from April 1, 2021 to September 30, 2021)(1) Consolidated Operating Results
Six months ended

September 30, 2021
September 30, 2020 *2(% of change from previous year)

Net Sales

Operating Income

Net Income
Attributable to Ownersof the Parent*3

EBITDA*1

Million yen%

Million yen%

Million yen%

Million yen%

56,16747,566

18.1
46.1

3,347
3,976

△15.8
341.5

4,188
4,678

△10.5
246.8

2,156
2,452

△12.1
528.2Comprehensive income: 2nd Quarter of FY2021 (As of September 30, 2021)
2,312 million yen (△2.8%)
2nd Quarter of FY2020 (As of September 30, 2020)
2,379 million yen (669.4%)(Note)*1. EBITDA stands for earnings before depreciation and amortisation.
*2. Operating income for the 1H of the previous fiscal year under review has increased exceptionally. This is because the rapid increase in demandfor home delivery accompanying the spread of COVID-19 has caused excess shipping capacity for Oisix brands, and we temporarily suspended
the acquisition of new customers, prioritizing existing subscribers, resulting in promotional expenses decrease significantly.

Six months ended

Net Income perShare

September 30, 2021
September 30, 2020

Diluted Net
Income per Share

Yen

Yen

59.00
65.00

58.97
64.84

(2) Consolidated Financial Position
Period ended

September 30, 2021
March 31, 2021

Total Assets

Shareholders’Equity Ratio

Net Assets

Million yen

Million yen%

51,69538,36022,30919,99141.5
49.8

2. Dividends
Fiscal Year ended or ending

Dividend per Share
1Q

March 31,2021
March 31,2022

2Q

3Q

Year-endTotalYenYenYen

Yen

Yen――0.00

―0.00

0.00

0.00

―

0.00

0.00

March 31,2022 (Forecast)(Note)
Revisions to the most recently announced forecast: None1

3. Forecast for the Fiscal Year Ending March 31, 2022 (from April 1, 2021 to March 31, 2022)(Percentages represent year-on-year changes)

Net Sales
Million yen

Full year

105,000

Operating Income

EBITDANet Income
per Share

Net Income%Million yen%

Million yen%

Million yen%

Yen

4.9

5,000

△33.06,500△27.03,000

△40.4

82.13

(Note)*1.Revisions to the most recently announced forecast: None

* Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidation):(2) Adoption of specific accounting treatments to the preparation of consolidated quarterly
financial statements:

None
None

(3) Changes in accounting policies and accounting estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards:

Yes2) Changes in accounting policies other than 1) above:None3) Changes in accounting estimates:

None4) Restatements:

None(4) Number of shares issued (common shares)
1) Number of shares issued (including treasury stock):
As of September 30, 2021

38,014,492shares

As of March 31, 2021

37,998,908shares

2) Number of treasury stocks:
As of September 30, 2021

1,469,712shares

As of March 31, 2021

1,469,655shares

3) Number of average shares during the period:
Six months ended September 30, 2021

36,540,492shares

Six months ended September 30, 2020

37,734,575shares* This financial report is outside the scope of the audit by certified public accountants or auditing firms.
* Explanation of the proper use of forecast and other notes
The forward-looking statements herein are based on information available to the Company and certain assumptions deemed
reasonable as of the date of publication of this document. They are not intended as the Company’s commitment to achieve suchforecasts, and actual results may differ significantly from these forecasts due to a wide range of factors.

2

Consolidated Financial Statements(1) Consolidated Balance Sheet(Millions of yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Accounts receivable - tradeMerchandise and finished goods
Work in process
Raw materials and supplies
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Leased assets
Accumulated depreciation
Leased assets, net

As of September 30, 2021

15,580
8,485
1,730
85
422
2,789
413
△205

13,358
9,048
1,786
106
511
3,124602△216

29,302

28,320500△457

13,268△576

4312,691

Other

2,191

3,412

Total property, plant and equipment

2,234

16,104

Goodwill

1,698

1,497

Other

2,064

2,200

Total intangible assets

3,763

3,698

Investments and other assets

3,060

3,572

Total non-current assets

9,058

23,37538,36051,695Intangible assets

Total assets3

(Millions of yen)
As of March 31, 2021
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Lease obligations
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for point card certificates

－279

6,601
1,000
147
532
5,691
931
160

1,541

1,413

17,54016,379245
30
6129
12,298
7325
13343
22

Other

206

204

Total non-current liabilities

Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease obligations
Provision for retirement benefits for directors (andother officers)
Asset retirement obligations
Deferred tax liabilities

6,173
1,040
925
6,178
2,292

As of September 30, 2021

828

13,006

Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings

18,36929,386

3,993
8,014
11,7183,994
8,015
13,876

Treasury shares△4,502△4,50319,223

21,383

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

2527

Foreign currency translation adjustment

△158

35

Total accumulated other comprehensive income△13362

Non-controlling interests

900863

Total net assets

19,991

22,30938,36051,695

Total liabilities and net assets4(2) Consolidated Statement of Income(Millions of yen)Six months ended
September 30, 2020

Six months ended
September 30, 2021

Net sales
Cost of sales

47,566
23,58756,16728,599Gross profit

23,97927,568Selling, general and administrative expenses

20,00324,221

Operating profit

3,976

3,347

007－3714008133121232

50

91712282

20

53327

125

Ordinary profit

3,681

3,272

Profit before income taxes

3,681

3,272

Income taxes - current
Income taxes - deferred

1,238
1

1,014
141

Total income taxes

1,239

1,155

Profit

2,441

2,117

Loss attributable to non-controlling interests△10△38

Profit attributable to owners of parent

2,452

2,156

Non-operating income
Interest income
Dividend income
Compensation income
Subsidy income
Material recycling revenue
Recoveries of written off receivables
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share issuance costs
Foreign exchange losses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses

5－892

(3)

Consolidated Statement of Comprehensive Income(Millions of yen)Six months ended
September 30, 2020

Six months ended
September 30, 2021

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income

2,441

2,1170△41△212193△1△62195

Comprehensive income

2,379

2,312

2,390

2,351

△10△38Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

6

(4)

Consolidated Statement of Cash Flow
(Millions of yen)Six months ended
September 30, 2020

Six months ended
September 30, 2021

Cash flows from operating activities
Profit before income taxes

3,681

3,272

Depreciation

404549Amortization of goodwill

297

290

Increase (decrease) in allowance for doubtful accounts

△38

11

Increase (decrease) in provision for bonuses

35

1Interest and dividend income△0△0Interest expenses

920

Foreign exchange losses (gains)－△0

Share of loss (profit) of entities accounted for using equity method

28292

Decrease (increase) in trade receivables

△763

△556

Decrease (increase) in accounts receivable - other

△690

△334

Decrease (increase) in inventories

△170

△150

Increase (decrease) in trade payables

945

390

Increase (decrease) in accounts payable - other529△610

Increase (decrease) in accrued expenses

101△57Other, net

421

△489

Subtotal

5,046

2,429

Interest and dividends received

00

Interest paid

△9△7Income taxes paid

△559

△2,326

Net cash provided by (used in) operating activities

4,477

96

Purchase of property, plant and equipment△923△1,299Purchase of intangible assets

△361

△322

Purchase of investment securities

△518

△306

Purchase of shares of subsidiaries and associates△0－Payments of leasehold and guarantee deposits

△138

△399

Proceeds from refund of leasehold and guarantee deposits

00Other, net△2△0Net cash provided by (used in) investing activities△1,943△2,328Proceeds from long-term borrowings

95－

Cash flows from investing activities

Cash flows from financing activities
Repayments of long-term borrowings△1△26

Proceeds from issuance of shares

4,586

2

Proceeds from share issuance to non-controlling shareholders

300－

Purchase of treasury shares△0△0

Repayments of lease obligations

△17

△13

Net cash provided by (used in) financing activities

4,961

△37

Effect of exchange rate change on cash and cash equivalents

747

Net increase (decrease) in cash and cash equivalents

7,503△2,222

Cash and cash equivalents at beginning of period

7,654

15,552

Cash and cash equivalents at end of period※15,158※13,330

Profit before income taxes

3,681

3,272

Depreciation

404

549

Cash flows from operating activities

7

Amortization of goodwill

297

290

Increase (decrease) in allowance for doubtful accounts

△38

11

Increase (decrease) in provision for bonuses

3518