決算説明資料

Results Briefing Material
2018年3月期1Q
FY3/2018 Q1

オイシックスドット大地株式会社
Oisix.daichi Inc.

Farm for Tomorrow, Table for Tomorrow
We provide services that enable a better foodlife for more people.
We realize a society where good farmers are
rewarded and proud.
We evolve continuously to deliver a sustainable
framework that links farm and table.

We solve social issues related to food throughbusiness approaches.
We create and expand Tomorrow's Food.

Contents

1 2 3

FY3/2018 Q1Results
Overview

FY3/2018
Activities
Overview

FY3/2018
SocialActivities

This material is intended to provide an understanding of OisixDaichi activities, not to solicit investment. Forecasts of OisixDaichi’s operating results and future performance are based on information available to OisixDaichi at the time
this materialwas drafted and are not guaranteed to be accurate. Actual operatingresultsmaydiffer from the future outlooks contained in this material.

Contents

1

FY3/2018 Q1Results Overvie w

1. FY3/2018 Q1 Results Overview

1. Consolidated results overview
2. Results by segment• Overview• Oisix KPI• Daichitakuhai KPI

1. FY3/2018 Q1 Results Overview

1. Consolidated results overview
2. Results by segment• Overview• Oisix KPI• Daichitakuhai KPIFY3/2018 Q1 Consolidated Results Overview■ With the addition this term of Daichi Wo Mamoru Kai’s results, sales were up 78.5% YoY■ EBITDA was up 42.2% YoY
FY3/2017
Q1 Actual

FY3/2018
Q1 Actual

FY3/2018
Plan

+/YoY

+/YoY
%

5,379

9,602

38,0004,223

178.5%

25.3%

Operating Profit

169

141

670

-28

83.3%

21.1%

EBITA*1

176

235

1,020

59

134.0%

23.1％

EBITDA*2

225

320

1,390

95

142.2%

23.1％

Excluding extraordinary
factors *3

-

-

1,570

-

-

-

EBITDA per share (¥)

38.47

40.12

175.11

1.65

104.3%

22.9%(Units: ¥mn)

Sales

※1
※2
※3

Achievement
Rate

EBITA＝Operating Profit + amortisation of goodwill
EBITDA＝ Operating Profit + depreciation + amortisation of goodwill
Extraordinary factors = One-off merger-related costs (cost of moving HQ, etc.)

Oisix.daichi

6Consolidated sales & EBITDA trends
Addition of DWMK’s results accelerated growth in sales and EBITDA■ Sales■ EBITDA/EBITDA per share

FY3/2018 Q1

YoY¥9.6bn+78.5%
9.6(¥bn)

FY3/2018 Q1

YoY¥320mn+42.2%(¥’00mn)

(¥)

4

100

9

3.2

3
8

80
3

7

5.4

6
5
4

3.7

4.1

4.7

2

2

2.3
2.1
42.45
35.20

3

60

2.3
38.47

40.12 40

1

0.9

2

1
1
0

0
2014/03
1Q 2018/03
FY3/20141Q
Q1 2015/03
FY3/20151Q
Q1 2016/03
FY3/2016 1Q
Q1 2017/03
FY3/2017 Q1
FY3/2018 1Q
Q1

20

15.57
■ EBITDA● EBITDA per share0

FY3/2014 1Q
Q1 2015/03
FY3/20151Q
Q1 2016/03
FY3/2016 Q1
2014/03
1Q FY3/2017
2017/03 Q1
1Q FY3/2018
2018/03Q1
1Q※ EBITDA＝ Operating Profit + depreciation + amortisation of goodwill

Oisix.daichi

71. FY3/2018 Q1 Results Overview

1. Consolidated results overview
2. Results by segment• Overview• Oisix KPI• Daichitakuhai KPI

8

FY3/2018 Q1 Results Overview by Segment
Sales at Oisix and Daichitakuhai were in line with plan. Healthy new customer acquisition saw anincrease in sales of high-cost ratio ‘otameshi’ trial boxes, which meant Oisix’s marginal profits
were slightly low. Total company profits were in line with plan.
(Units: ¥mn)

Plan

ActualAchievement rate

Sales
Marginal profit
Margin23,988
3,465
14.4%

5,790
674
11.7%

24.1%
19.5%
-

Sales
Marginal profit
Margin10,841
2,039
18.8%

2,790
539
19.3%

25.7%
26.5%
-

Sales
Marginal profit
Margin

3,171
629
19.8%

1,021
185
18.1%

32.2%
29.4%
-

Sales
Marginal profit
MarginFixed costs
Operating profit

38,000
6,133
16.1%
5,463
670

9,602
1,399
14.6%
1,257
141

25.3%
22.8%
23.0%
21.1%

FY3/2018 Q1

Takuhai delivery business
Oisix

Daichitakuhai

Other businesses

Total company

Oisix.daichi

9Oisix Subscriber Trends
In addition to SEO measures to optimize the path from company-name searchto subscription, media exposure provided a tail-wind to new subscriber
155,000
acquisitions, which trended slightly above plan.
147,474

FY3/2018 Q1

147,474+7.3%

Total No. Subscribers

Increase from prior year end
107,539

137,359
130,673
124,283
118,124
111,036

101,079 102,780
91,54093,470

Q2
2Q

Q3
3Q

96,71887,018

Q1
1Q

Q4
4Q

FY3/2015

Oisix.daichi

Q1
1Q

Q2
2Q
FY3/2016

Q3
3Q

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Ｑ

FY3/2017

Q4
4Q

Q1
1Q

Plan
計画
FY3/2018

10

Oisix ARPU Trends
Slight decline in ARPU from increase in beginners, who spend less.
FY3/2018 Q1

YoY¥11,833

97.8%

AnnualAverage

12,253

12,373

12,227

12,682
12,072

12,514

11,88912,644

12,402

12,13911,827

12,087

11,955

11,932

11,833

11,586

(¥)

1Q
Q1

2Q
Q2

3Q
Q3

2015年3月期
FY3/2015

4Q
Q4

1Q
Q1

2Q
Q2
4Q

3Q
Q3

FY3/2016
2016年3月期

Q4

1Q
Q1

2Q
Q2

Q3
3Ｑ

4Q
Q4

1
Q1
Q

FY3/2017
2017年3月期

FY3/2018
2018年3月期※ARPU : Average Revenue Per User
※Regular subscriber frequency of purchase x amount spent/no.visits

Oisix.daichi

11Oisix Frequency of Purchase (FoP) Trends
FY3/2018 Q1

YoY

2.03x

98.5%

AnnualAverage

2.10

2.11

2.07

2.09

2.10

2.16

2.15

2.07

2.11

2.02

2.07

2.06

2.00

2.00

2.03

2.03

(x)

Q1
1Q

Q2
2Q

Q3
3Q

2015年3月期
FY3/2015

Oisix.daichi

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Q

FY3/2016
2016年3月期

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Ｑ

FY3/2017
2017年3月期

Q4
4Q

1
Q1
Q

FY3/2018
2018年3月期

12Customer Spending Trends
FY3/2018 Q1

YoY¥5,81799.0%

AnnualAverage

5,882

5,831

6,081
5,806

5,841

5,880

5,988
5,800

5,878
5,756

5,874

5,975
5,872

5,799

5,817

5,701

(¥)

Q1
1Q

Q2
2Q

Q3
3Q

2015年3月期
FY3/2015

Oisix.daichi

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Q

2016年3月期
FY3/2016

Q4
4Q

Q1
1Q

Q2
2Q

Q3
3Ｑ

2017年3月期
FY3/2017

Q4
4Q

1Q1
Q
2018年3月期
FY3/2018

13

1. FY3/2018 Q1 Results Overview

1. Consolidated results overview
2. Results by segment• Overview• Oisix KPI• Daichitakuhai KPI

14

Daichitakuhai Subscriber Trends
Careful scrutiny of new subscriber acquisition methods translated intoa one-off tightening and slight reduction.
FY3/2018 Q1

YoY

44,848

97.1%

Total No. Subscribers
46,89846,622

2Q
Q2

3Q
Q3

FY3/2016

Oisix.daichi

45,45045,09145,68046,43846,14544,84846,000

4Q
Q4

1Q
Q1

2Q
Q2

3Q
Q3

4Q
Q4

1Q
Q1

計
Plan

画

FY3/2017

2018年3月期
FY3/2018

15

Daichitakuhai ARPU Trends
Despite customer spend trended on a par with FY3/2017 Q1, we areundertaking issues of how to obtain repeat orders from subscribers.
As a result, ARPU was down slightly YoY.
FY3/2018 Q1

YoY¥19,884 90.4%
AnnualAverage

21,766

21,847

21,283

21,987

4Q
Q4

1Q
Q1

24,30819,706

2Q
Q2

3Q
Q3

FY3/2016(¥)

24,443
20,303

2Q
Q2

3Q
Q3

FY3/2017

20,65519,884

4Q
Q4

1Q
Q1

FY3/2018※ARPU : Average Revenue Per User
※Regular subscriber frequency of purchase x amount spent/no.visits※FY3/2016 Q2 – FY3/2017 Q4 ARPU on the last day of each quarter. From FY3/2018 Q1, average over the quarter.

Oisix.daichi

16Frequency of Purchase (FoP) Trends
Increase in portion of subscribers with low frequency of orders.
Improvement on the issue is underway.
FY3/2018 Q1

YoY

2.6x

AnnualAverage

90.5%
2.87

2.91

2.77

2.92

2.78

2.87
2.73

2.72

2.75

2.60

(x)

2Q
Q2

3Q
Q3

FY3/2016

4Q
Q4

1Q
Q1

2Q
Q2

3Q
Q3

FY3/2017

4Q
Q4

1Q
Q1

FY3/2018※FY3/2016 Q2 – FY3/2017 Q4 ARPU on the last day of each quarter. From FY3/2018 Q1, average over the quarter.

Oisix.daichi

17Customer Spending Trends
FY3/2018 Q1

YoY¥7,637

99.5%

AnnualAverage

7,576

7,900

8,979
8,349

7,674
7,292

7,088

7,507

7,441

7,637

(¥)

2Q
Q2

3Q
Q3
4Q

FY3/2016

Q4

1Q
Q1

2Q
Q2

3Q
Q3

FY3/2017

4Q
Q4

1Q
Q1

FY3/2018※FY3/2016 Q2 – FY3/2017 Q4 ARPU on the last day of the month of each quarter. From FY3/2018 Q1, average over the quarter.

Oisix.daichi

18

Contents2

FY3/2018
Activities
Overview

FY3/2018 Strategy & Action

1. Growth of Home Delivery Business(1) Strengthening of Premium Jitan value
・Evolution of Kit Oisix
・Development of Premium Jitan products(2) Strengthening of the Brand(3) Exploring synergies with Daichitakuhai(4) Initiatives with Lawson, Inc.

1. Growth of Business other than Home Delivery
2. Expansion of infrastructure for mobile sales
platforms for “Shopping Refugees”

FY3/2018 Strategy & Action

1. Growth of Home Delivery Business(1) Strengthening of Premium Jitan value
・Evolution of Kit Oisix
・Development of Premium Jitan products(2) Strengthening of the Brand(3) Exploring synergies with Daichitakuhai(4) Initiatives with Lawson, Inc.

2. Growth of Business other than Home Delivery
3. Expansion of infrastructure for mobile sales
platforms for “Shopping Refugees”

Kit Oisix (Meal Kits)
We have beefed up our Premium Jitan Service to support the expanding
number of women in the workforce for whom time is tighter than ever
■ What is Kit Oisix?

Oisix.daichi

22

Kit Oisix (Meal Kits)
Cumulative shipments exceeded the 6 million mark with a line-up bolstered forthe summer with a series of noodle Kits, beauty Kits and event Kits!
■ Summer event Kit Oisix, fun for all the family
Launch of Summer Event Kits to support free research
homework, the toughest of all holiday assignments.

OVER

FY3/2018 Q1

6 Million

55k
50k

Cumulative shipments(July 2013 – June 2017)

32k

1Q
Q1

2Q
Q2

3Q
Q3

FY3/2016

4Q
Q4

1Q
Q1

2Q
Q2

3Q
Q3

4Q
Q4

1Q
Q1

FY3/2017

Kit Course Subscriber Trends (Unit: thousands of people)

Oisix.daichi

23

Kit Oisix (Meal Kits)
Kit Oisix New Series! Launch of Snow Peak Eat-compiled BBQ Kit Oisix, for
BBQ fun at home or outdoors!

Oisix.daichi

24

Strengthening of the Brand - Shop in Shop
Scrap and build from FY3/2017 translated into slow sales growth, but theacquisition of new locations in Q1 means the outlook is for accelerated growth■ FY3/2018 Activity Details■Sales Trends (unit: ¥mn)
YoY

As of FY3/2018 Q1+7.1%

28 shops

105

98

69

40

Oisix corner in Marusho-chain stores••Entered into new agreement with Marusho Inc
Kit Oisix (Meal Kits) sales promotion using video
and pamphlets

Oisix.daichi

FY3/2015
2015年3月期
Q1

FY3/2016
2016年3月期
Q1

FY3/2017
2017年3月期
Q1

FY3/2018
2018年3月期
Q1

25

Strengthening of the Brand – In-station Shop
Exhibition market space in ecute Omiya, our first in-station shop, to beextended until March 2018!

Oisix.daichi

26

Strengthening of the Brand
Oisix Crazy for Veggy, which provided a physical point of contact with customers
and so contributed to increasing brand awareness, is to close on September 10,
2017. Resources are to be focused on in-station stores and Shop in Shops.

Thanks for the love!

Oisix.daichi

27

Merger Synergy with Daichitakuhai
Home Delivery
Business

Anticipated Synergies•

Marketing

Product
Procurement

Warehousing &Distribution

•

•
•
•
•
•

•

Other Functions•

Wider customer base & enhanced
customer acquisition
Improved sales price from crossselling of Food Products

Envisaged effect

Progress

Improved Oisix ARPU

Discussion started
towards increase ofnon-food items in Oisix

Daichitakuhai’s non-food ARPU
is approx. 20x that of Oisix

Stable supply for Oisix
Expansion of contracted producer
network
Sharing of delivery logistics
Take manufacturing in-house

Contracted producers:
Daichi Takuhai approx. 1,500
Oisix approx. 1,200

Diversification of distribution
methods
Share distribution center
knowhow

Reduction of Yamato
dependency risk
Materials cost reduction(¥20mn*)Volume discounts on settlement
fees
Shared function efficiencies (e.g.
Customer support)

Price negotiation started
with common suppliers

Cost improvement

Cost reduction(¥30mn*)Unified suppliers toincrease order lot*material cost
reduction
Rate negotiation with
common settlementcompany*unified with the lower
commission rate

* Included in FY3/2018 full-year estimates

Oisix.daichi

28

Merger Synergy with Daichitakuhai
DWMK sales site had its grand opening on July 27! Sales have expanded
beyond subscribers and there are now 100 items available, a threefold
increase compared to the site opening in April.
■ DWMK site on Oisix.com■Sales since site opening(Units: ¥’000)

5,629

April 2017

Oisix.daichi

May 2017

June 201729

Initiatives with Lawson, Inc.
First initiative - Kit Oisix launched on Lawson Fresh site!!
Sales in some Natural Lawson stores slated to begin during FY3/2018.

Oisix.daichi

30

FY3/2018 Strategy & Action

1. Growth of Home Delivery Business(1) Strengthening of Premium Jitan value
・Evolution of Kit Oisix
・Development of Premium Jitan products(2) Strengthening of the Brand(3) Exploring synergies with Daichitakuhai(4) Initiatives with Lawson, Inc.

2. Growth of Business other than Home Delivery
3. Expansion of infrastructure for mobile sales
platforms for “Shopping Refugees”

Tie-Up Advertising
New client expansion! Tie-ups with strong brands Audi and Panasonic benefit
the entire company.

Won an order for a campaign in which Oisix points areawarded to customers who complete an Audi A1 survey

Oisix.daichi

Proposed ways of using Panasonic products to efficiently get
the most out of Oisix ingredients.

32

Overseas Service
Yamato Global Logistics Japan have introduced a low temperature air cargoservice with 15% reduction in product losses and 10% lower transportation costs.

Oisix.daichi

33Support for farmers to adopt GAP
Supporting the adoption of Good Agricultural Practice by farmers, by providing
guidance and paying certification inspection fees. Have begun development ofa production management app which will make GAP easier to implement.
■ Oisix.daichi, DWMKFree GAP adoption guidance,
payment of inspection fees

■ GAP Certified Farmers■ Farmers

undercontract

Purchase of agricultural products

Delivery of agricultural products

Oversight

Provided with app(free of charge for time being)■ Production Management App (launch slated for Autumn 2017)■ Farmers not under contract

Provided with app(free of charge for time being)※ GAP (Good Agricultural Practice)： A principled way to manage agricultural production processes

Oisix.daichi※Images are for illustrative purposes34

FY3/2018 Strategy & Action

1. Growth of Home Delivery Business(1) Strengthening of Premium Jitan value
・Evolution of Kit Oisix
・Development of Premium Jitan products(2) Strengthening of the Brand(3) Exploring synergies with Daichitakuhai(4) Initiatives with Lawson, Inc.

1. Growth of Business other than Home Delivery
3. Expansion of infrastructure for mobile sales
platforms for “Shopping Refugees”

Expansion of infrastructure for mobile sales platforms
for “Shopping Refugees”
Tie-up with major supermarket operators Inageya and Comodi Iida (218
stores between them, mostly in the Kanto region)!

••

Accelerated growth - 500 vehicles by the end of FY3/2019
Promote an operating environment in which sales partners can thrive

Oisix.daichi

36

Tokushimaru : Number of Vehicles in Operation (VIO)
Positive effects of becoming a subsidiary, for example management supportand stronger staffing, translated into +76 VIO and 52% growth YoY.
221
YoY

+52%

145

As at end of June 2017, rolled out in37
Prefectures

(VIO)
Q1 2Q
Q2 3Q
Q3 4Q
Q4 1Q
Q1 2Q
Q2 3Q
Q3 4Q
Q4 1Q
Q1 2Q
Q2 3Q
Q3 4Q
Q4 1Q
Q1 2Q
Q2 3Q
Q3 4Q
Q4 1Q
Q1 2Q
Q2 3Q
Q3 4Q
Q4 1Q
Q1
1Q

FY3/2013

FY3/2014

FY3/2015

Oisix.daichi

FY3/2016

FY3/2017

37

Tokushimaru : Total Transaction Value
Strengthening of the supervising function on sales method resulted in
the increase in sales per VIO. FY3/2018 Q1 Total Transaction Value*
grew by 75% YoY to ¥1.22bn.
YoY(Unit ¥mn)

1,224

1,022 1,035

+75%

852

698
512
438
314
232

6

11

16

19

25

1Q

2Q

3Q

4Q

1Q

2013/3

31

36

37

56

79

2Q

3Q

4Q

1Q

2Q

2014/3118

3Q

2015/3

152

4Q

1Q

2Q

3Q

4Q

2016/3

1Q

2Q

3Q

4Q

1Q

2017/ 3

*Total transaction value = Value of goods sold (Oisix.daichi revenue = Royalties from each vehicle)

Oisix.daichi

38

Contents

3

FY3/2018
SocialActivities

TABLE FOR TWO
Oisix donates 3% of revenue from TFT-accredited products purchased by our customers
to TFT, which goes towards meals and the construction of places for children indeveloping countries to eat
DonatesCustomers

Oisix

3％
Of revenue

Purchase TFT accredited products

Sells TFT-accredited products

Delivers lunches tochildren indeveloping countries*Cumulative 2009 – end-March 2017 1 lunch = ¥20

Oisix.daichi

40Official Supplier to Japanese Wheelchair Rugby
With sights on the 2020 Tokyo Olympics, Oisix is an official supplier andsupporter of these exceptional para-athletes. The team won Bronze at the
Rio 2016 Paralympics!!

■ Providing nutritionally balanced ingredients & Kit Oisix

Oisix.daichi■ Supporting rejuvenation of Wheelchair Rugby’s website

41

Hosted “A Million People Candlenight ＠ Zojoji 2017”
This year’s theme: Peace. Candles inside lanterns on which messages ofpeace had been written were lit. The event was attended by around 5,500
visitors.

A Million People’s Candlenight Festival.
An event that advocates each one of us turns off the lights, etc., to spend two hours, from 8pm to 10pm on the nights ofthe summer and winter solstice, in quiet contemplation by candlelight.

Oisix.daichi

42

Food-related Workshop Program
In collaboration with Mother Dictionary Co., we sponsor workshop programs thatare all about food. Carrying out activities to create opportunities for kids todeepen their curiosity about food and enjoy eating it.

Mother Dictionary Co.,
CEO: Kisako Kuwahara
Operates “Diakanyama Teens Creative” a place where children
can paint dreams and generate possibilities, and “Kazoku no
Atelier” a support center for children and parents in Shibuya-ku.
Also undertakes planning, creative and production work, as well
as facility management, editing and administration, etc.

Oisix.daichi

43Oisix.daichi