February 13, 2020

Consolidated Financial Results
for the Nine months Ended December 31, 2019
[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

February 14, 2020
YesNone(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for Nine Months ended December 31, 2019(from April 1, 2019 to December 31, 2019)(1) Consolidated Operating Results
Three months ended(% of change from previous year)

Net Sales

Operating Income

Million yen%

Million yen

52,425
48,906

7.2
63.0

1,597
2,265

December 31, 2019
December 31, 2018 *2

Net Income
Attributable to Ownersof the Parent*3

EBITDA*1%

Million yen%

Million yen%

2,381
2,882
632 million yen (△75.0%)
2,530 million yen (629.3%)△17.4
124.76952,533

△72.5
653.7

△29.5
227.2

Comprehensive income: 3rd Quarter of FY2019 (As of December 31, 2019)
3rd Quarter of FY2018 (As of December 31, 2018)(Note)*1. EBITDA stands for earnings before depreciation and amortisation.
*2. The result for the 3Q on FY2018 include the 7-month profits and losses (from March 1 to September 30, 2018) of Radish Boya Co., Ltd. (fiscalyear end is February, absorption-type merged in October 2018). Comparing the results for the 3Q on FY2019 with the result for 9-monthperiod excluding the profit and loss of Radish Boya Co., Ltd. in March 2018, net sales increased by 10.8%, operating income decreased by 27.3%,EBITDA decreased by 15.3%, and net income attributable to owners of the parent decreased by 71.7% rom the previous year.
*3. Net income attributable to owners of the parent for the same period of the previous fiscal year was increased than normal compared tooperating income due to special factors such as the restrained amount of expenses for income taxes in Radish Boya Co., Ltd. In addition, as afactor related to the first 9 months of the fiscal year under review, Welcome Co., Ltd., an equity-method affiliate, was consolidated from the 1Qof the fiscal year under review, and Three Limes Inc. (hereafter Purple carrot) , a subsidiary, was consolidated from the 3Q of the fiscal year
under review. As a result, amortisation expenses for each goodwill were incurred.

Three months ended

Net Income perShare

December 31, 2019
December 31, 2018

Diluted Net
Income per Share

Yen

Yen

20.47
75.84

20.32
74.78

(2) Consolidated Financial Position
Period ended

December 31, 2019
March 31, 2019

Total AssetsShareholders’Equity Ratio

Net Assets

Million yen

Million yen%

26,79822,74913,95012,50551.9
54.8

2. Dividends
Fiscal Year ended or ending

Dividend per Share
1Q

March 31,2019
March 31,2020

2Q

3Q

Year-endTotal

Yen

Yen

Yen

Yen

Yen

――0.00

―

0.00

0.00

0.00

―

0.00

0.00

March 31,2020 (Forecast)(Note)
Revisions to the most recently announced forecast: None1

3. Forecast for the Fiscal Year Ending March 31, 2020 (from April 1, 2019 to March 31, 2020)(Percentages represent year-on-year changes)

Net Sales
Million yen

Full year70,000

Operating Income

EBITDANet Incomeper ShareNet Income%Million yen%

Million yen%

Million yen%

Yen

9.3

2,200

△4.9

3,200

1.4

1,000

△58.1

29.77

(Note)*1.Revisions to the most recently announced forecast: None
*2.EBITDA stands for earnings before depreciation and amortisation.

* Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidation):

Yes

Newly consolidated: One company
Future Food Fund No.1 investment limited partnership
From the 3Q of the current consolidated fiscal year, Future Food Fund Corporation, our subsidiary, assigned anunlimited partner of the Future Food Fund No.1 investment limited partnership. Therefore, this partnership wasincluded in the scope of consolidation.

(2) Adoption of specific accounting treatments to the preparation of consolidated quarterly
financial statements:

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 December 31, 201934,316,516shares

As of March 31, 201933,595,156shares

2) Number of treasury stocks:
As of December 31, 2019

3,780shares

As of March 31, 2019

3,780shares

3) Number of average shares during the period:
Three months ended December 31, 2019

33,996,061shares

Three months ended December 31, 201833,403,388shares(Note)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 sharesissued, 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 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(Thousands of yen)
As of March 31, 2019

As of december 31, 2019

AssetsCurrent assets
Cash and deposits

8,136,173

6,813,439

Accounts receivable-trade

5,555,456

8,087,962

Merchandise and finished goods

1,173,552

1,391,336

Work in process

45,07733,497

Raw materials and supplies

184,228

377,946

Accounts receivable-other

1,308,693

1,643,659

394,685

387,970

Allowance for doubtful accounts△196,069△223,516

Total current assets

16,601,798

18,512,295

1,007,751

1,404,480

Goodwill

1,137,486

2,527,489

Others1,009,106

1,813,321

Total intangible assets

2,146,592

4,340,811

2,993,343

2,541,212

OthersNoncurrent assets
Property, plant and equipment
Intangible assets

Investments and other assets
Total noncurrent assets
Total assets

3

6,147,686

8,286,503

22,749,485

26,798,799

(Thousands of yen)
As of March 31, 2019

As of December 31, 2019

Liabilities
Current liabilities
Accounts payable-trade4,240,280

5,948,338

9,552

6,897

Accounts payable-other

3,649,938

4,389,732

Income taxes payable

255,659

337,790

Provision for points certificates

145,468

188,431

Short-term loans payable

Asset retirement obligations-10,351

Others

1,149,101

1,165,204

Total current liabilities

9,450,000

12,046,744

Long-term loans

53,404

48,895

Lease obligations

42,28937,307

Provision for directors' retirement benefits

Noncurrent liabilities

4,500

5,400

Retirement benefit liabilities-1,665

Asset retirement obligations

296,218

299,947

Others397,852

408,119

Total noncurrent liabilities

794,264

801,333

10,244,264

12,848,078

Capital stock

1,284,022

1,690,928

Capital surplus

5,298,392

5,704,705

Retained earnings

5,897,781

6,593,721△2,800△2,80012,477,395

13,986,554

3,284

1,156

Foreign currency translation adjustments△8,274△69,248

Total accumulated other comprehensive income△4,989△68,092

32,81532,25812,505,220

13,950,72022,749,485

26,798,799

Total liabilities
Net assets
Shareholders' equity

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

Non-controlling interests
Total net assets
Total liabilities and net assets4(2) Consolidated Statement of Income(Thousands of yen)
Period ended
December 31, 2018

Period ended
December 31, 2019

Net sales

48,906,257

52,425,426

Cost of sales

25,592,895

27,741,799

Gross profit

23,313,362

24,683,627

Selling, general and administrative expenses

21,047,500

23,086,154

Operating income

2,265,861

1,597,472

Interest income

153969Dividend received

5,648

0

Compensation income

9,208

9,509

Others61,00437,879Total non-operating income

76,01548,359Interest expenses

1,501

5,789

Stock issuance cost

477

1,099

Non-operating income

Non-operating expenses

Foreign exchange losses

3,751

9,989

Liabilities from application of equity method

43,361

198,546

Others

4,886

7,310

Total non-operating expenses

53,978

222,735

2,287,898

1,423,096

Gain on sales of investments in affiliated companies3,123-

Total extraordinary Income

3,123-

Cancellation charges of facility leasing arrangements

40,159-Loss on sales of noncurrent assets

11,741-

Ordinary income
Extraordinary Income

Extraordinary loss

Loss on disaster-

54,601

Total extraordinary loss

51,90054,601

Income before income taxes

2,239,121

1,368,495

Income taxes-current

311,441

436,711

Income taxes-deferred△610,369

236,400

Total income taxes△298,928

673,112Net income

2,538,049

695,383

Net income attributable to non-controlling interests
Net income attributable to owners of the parent54,676△556

2,533,372

695,939

(3) Consolidated Statement of Comprehensive Income
Period ended
December 31, 2018

(Thousands of yen)
Period ended
December 31, 2019

2,538,049

695,383

Valuation difference on available-for-sale securities△1,349△922

Foreign currency translation adjustments△6,261△60,974-△1,204△7,610△63,1022,530,438

632,280

2,525,762

632,837

4,676

△556

Net income
Other comprehensive income

Share of other comprehensive income of companies
accounted for by the equity method
Total other comprehensive incomeComprehensive income
Total comprehensive income attributable toOwners of the parent
Non-controlling interests6