November 13, 2018

Consolidated Financial Results
for the Six months Ended September 30, 2018
[Japanese GAAP]
Company name:
Oisix ra daichi Inc.
Securities code:
3182
Representative:
Kohey Takashima, Representative Director, CEOContact:
Hajime Yamanaka, Corporate Officer, Administration
Scheduled date of filing of Quarterly Report:
Scheduled date of payment of dividend:
Preparation of supplementary materials for financial results:
Holding of quarterly financial results meeting:Stock exchange listings: TSE Mothers
URL: http://www.oisixradaichi.co.jp

November 14, 2018
YesYes(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for Six Months ended September 30, 2018(from April 1, 2018 to September 30, 2018)(1) Consolidated Operating Results(% of change from previous year)

Six months ended

September 30, 2018
September 30, 2017

Net Sales

Operating Income

Net Income
Attributable toOwners ofthe ParentEBITDA

Million yen%

Million yen%

Million yen%

Million yen%

31,72018,935

67.5
76.7

1,115
237369.5
△12.3

1,513
635

138.1
62.5

893
93856.2△50.2(Note)
1.Comprehensive income: 2nd Quarter of FY2018(As of September 30, 2018)
894 million yen(854.9%)
2nd Quarter of FY2017(As of September 30, 2017)
93 million yen(△50.0%)
2.Radish Boya figures are for 7 months, March to September, to reflect a change in fiscal year end.

Diluted Net
Income per
Share

Six months ended

Net Income per
Share
Yen

Yen

September 30, 2018
September 30, 2017

26.83
2.92

26.39
2.85(Note）
1.EBITDA stands for earnings before depreciation and amortisation.
2.On April 1st, 2018, the Company implemented a 2 for 1 stock split of common shares, and on October 1st, 2018, the Company
implemented a 2 for 1 stock split of common shares. For the previous consolidated accounting year, said stock split is assumed tohave occurred at the beginning of that accounting year for the purposes of calculating comparable Net Income per Share andDiluted Net Income per Share figures.

(2) Consolidated Financial Position
Period ended

Total Assets

September 30, 2018
March 31, 2018
(Reference)
Shareholders’ equity(million yen)

Shareholders’Equity Ratio

Net Assets

Million yen

Million yen%

20,648
19,846

11,013
10,04853.2
50.6

As of September 30, 2018 : 10,983

1

As of March 31, 2018 : 10,045

2. Dividends
Dividend per Share

Fiscal Year ended or ending

1Q

2Q

3Q

Year-endTotal

Yen

YenYen

Yen

Yen

――

0.00

―

0.00

0.00

0.00

―

0.00

0.00

March 31,2018
March 31,2019
March 31,2019 (Forecast)(Note)
Revisions to the most recently announced forecast: None

3. Forecast for the Fiscal Year Ending March 31, 2019 (from April 1, 2018 to March 31, 2019)(Percentages represent year-on-year changes)

Net Sales
Million yen

Full year

64,000Operating Income

EBITDANet Incomeper ShareNet Income%Million yen%

Million yen%

Million yen%

Yen

60.1

1,800

101.9

2,600

55.6

1,500

532.2

45.31

(Note)
Revisions to the most recently announced forecast: None
EBITDA stands for earnings before depreciation and amortisation.
On October 1st, 2018, the Company implemented a 2 for 1 stock split of common shares. For the previous consolidated
accounting year, said stock split is assumed to have occurred at the beginning of that accounting year for the purposes ofcalculating comparable Net Income per Share* Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidatoin):(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:

None2) 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, 201833,580,164shares
As of March 31, 201833,102,356shares
2) Number of treasury stocks:
As of September 30, 2018
3,516shares
As of March 31, 2018
3,340shares
3) Number of average shares during the period:
Three months ended September 30, 201833,316,155shares
Three months ended September 30, 2017
32,003,500shares
On April 1st, 2018, the Company implemented a 2 for 1 stock split of common shares, and on October 1st, 2018, the Company
implemented a 2 for 1 stock split of common shares. For the previous consolidated accounting year, said stock split is assumed
to have occurred at the beginning of that accounting year for the purposes of calculating comparable Number of shares issued,
Number of treasury stocks and Number of average shares during the period.

* 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 theCompany’s commitment to achieve such forecasts, and actual results may differ significantly from these
forecasts due to a wide range of factors.

2

Consolidated Financial Statements(1) Consolidated Balance Sheet(Thousands of yen)
As of March 31, 2018

As of September 30, 2018

AssetsCurrent assets
Cash and deposits

7,236,330

8,008,478

Accounts receivable-trade5,415,701

5,154,216

918,137

1,036,173

Merchandise and finished goods
Work in process

4,435

28,220Raw materials and supplies

207,590

253,802

Accounts receivable-other

1,335,994

1,334,209300,077

372,012

Allowance for doubtful accounts△156,696△156,614

Total current assets

15,261,572

16,030,499

878,426

904,464

Goodwill

1,506,089

1,348,403

Others877,657

1,020,422

2,383,747

2,368,825

1,323,134

1,344,451

OthersNoncurrent assets
Property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets
Total noncurrent assets
Total assets

3

4,585,307

4,617,742

19,846,880

20,648,241

(Thousands of yen)
As of March 31, 2018

As of September 30, 2018

LiabilitiesCurrent liabilities
Accounts payable-trade

4,097,110

4,008,247

6,012

7,952

Accounts payable-other3,076,648

2,860,699

Income taxes payable

266,572

315,650

Provision for bonuses

90,477－Provision for points certificates

147,754

132,075

Asset retirement obligations

66,00066,000

Others979,109

1,173,750

8,729,685

8,564,376

41,29659,780

Short-term loans payable

Total current liabilities
Noncurrent liabilities
Long-term loans
Provision for directors' retirement benefits

3,300

3,900

Retirement benefit liabilities

458,874

428,886

Asset retirement obligations

282,649

297,320

Others282,787

280,623

1,068,907

1,070,509

9,798,592

9,634,886

Capital stock

1,259,797

1,282,961

Capital surplus

5,274,175

5,297,335

Retained earnings

3,510,139

4,403,891△2,065△2,23010,042,046

10,981,958

4,693

4,182

△1,030△2,700Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity

Treasury stocks
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

4

3,662

1,482

2,578

29,915

10,048,288

11,013,355

19,846,880

20,648,241

(2) Consolidated Statement of Income(Thousands of yen)
Period ended
September 30, 2017

Period ended
September 30, 2018

Net sales

18,935,900

31,720,279

Cost of sales

10,090,709

16,651,328

Gross profit

8,845,190

15,068,950

Selling, general and administrative expenses

8,607,638

13,953,539

237,551

1,115,411

Interest income211

94

Dividend received

4,452

4,235

Compensation income

3,625

6,940

Others

20,96139,780Total non-operating income

29,25151,051

Interest expenses

142

958

Stock issuance cost

428

472

Operating income
Non-operating income

Non-operating expenses

Foreign exchange losses

1,320

1,084

Liabilities from application of equity method

1,274

22,447

Others

4,076

2,837

Total non-operating expenses

7,242

27,800259,560

1,138,662

Gain on sales of investments in affiliated companies－3,123

Total extraordinary Income

－

3,123

92,222－－40,159Total extraordinary loss

92,22240,159

Income before income taxes

167,337

11,01,626

Income taxes-current

53,865

236,697

Income taxes-deferred

19,826△31,485

Total income taxes

73,691

205,212Net income

93,645896,414

172

2,661

93,473

893,752

Ordinary income
Extraordinary Income

Extraordinary loss
Loss on revision of retirement benefit plan
Cancellation charges of facility leasing arrangements

Net income attributable to non-controlling interests
Net income attributable to owners of the parent5

(3) Consolidated Statement of Comprehensive Income
Period ended
September 30, 2017(Thousands of yen)
Period ended
September 30, 2018

93,645896,414

Valuation difference on available-for-sale securities－△511

Foreign currency translation adjustments△3△1,669

Total other comprehensive income△3△2,180

93,642894,233

93,469891,572

172

2,661

Net income
Other comprehensive income

Comprehensive income
Total comprehensive income attributable toOwners of the parent
Non-controlling intetests

6(4) Consolidated Statement of Cash Flow
(Thousands of yen)
Period ended
September 30, 2017

Period ended
September 30, 2018

Income before income taxes167,337

1,101,626

Depreciation

204,474

207,408

Cash flows from operating activities

Retirement benefit plan amendments loss

92,222－

Amortization on goodwill

193,705

190,932(Increase) decrease on sales of affiliated companies stock－△3,123Cancellation charges of facility leasing arrangements－

40,159

Increase (decrease) in allowance for doubtful accounts

6,215

△118

Increase (decrease) in allowance for bonuses△69,186△90,477

Interest income and dividend received△4,502△4,329142958Interest expense
Foreign currency exchange (gain) or loss
(Increase) decrease on income on equity method investments

2220

1,274

22,447(Increase) decrease in accounts receivable△44,506

285,510(Increase) decrease in inventories△151,012△179,472

Increase (decrease) in accounts payable

185,589△90,865

Increase (decrease) in Accounts payable-other174,378△256,339

Increase (decrease) in accrued expenses

173,355

61,445

Other△91,520△22,124

Subtotal

837,972

1,263,857

3,587

3,458

Interest and dividend received
Interest paid
Income taxes paid
Net cash provided by operating activities

△142

△958

△137,469△189,705

703,947

1,076,652

Cash flows from investing activities
Purchase of property, plant and equipment△13,524△28,480

Payments for acquisition of investments△131,503△284,580

Payments for acquisition of affiliates△34,990－－

21,640

Income for sale of affiliates
Payments from acquisition of control over subsidiaries△12,367△35,332

Income from acquisition of control over subsidiaries－19,766

Payments for lease deposits and guarantee deposits△349,464△38,734△7,962

12,844△549,812△332,877△18,006△3,891

25,74245,930－10,000Purchase of treasury stock△1,202△164

Repayment of lease liabilities△3,253△22,212

OtherNet cash used in investing activities
Cash flows from financing activities
Repayment of long-term loans payable
Proceeds from stock issuance
Income from payment from controlled shareholder

Net cash provided by financing activities

3,280

29,662△6△1,889157,409771,547

Cash and cash equivalents at the beginning of the year

5,209,396

7,194,730

Cash and cash equivalents at the end of the year

5,366,806

7,966,278

Effect of exchange rate changes on cash and cash equivalentsIncrease (decrease) in cash and cash equivalents

7