FY2021/3 1Q Results
Explanatory Materials

Oisix ra daichi
2020.8.14

Table of Contents
1. FY2021/3 1Q Achievements
2. Our Current Situation and Response to COVID-19
3. Results on Business segment
4. New Business Topics
5. Profits outlook after FY2021/3 2Q
6. ESG Topics■ APPENDIX・DATA SHEET

1

1. FY2021/3 1Q Achievements2

Special factor in comparison withthe same period of the previous year

【Consolidation of Purple Carrot】✓ Purple Carrot, a U.S. meal-kit home delivery service specialized in vegan, became a subsidiaryin Apr.2019. Recognition of sales, profits/losses and goodwill began in FY2020/3 3Q.
✓ Full-year recognition in consolidated reports this fiscal year versus half-year (3Q/4Q) last year.
Fiscal Year

Consolidated
periodPrevious
fiscal year
(FY2020/3)

half-year(3Q/4Q)

This fiscal year
(FY2021/3)

Full-year

1Q

2Q

3Q

4Q

From FY2020/3 3Q
Start of consolidation*Due to the difference in fiscal year-ends, consolidated results are delayed by 3 months(1Q is consolidated from Jun to Mar).

3

Executive summary
ーFY2021/3 1QResults
Against Initial Target,●Sales✓ Owing to COVID-19, the increase in home delivery demand has exceeded
initial forecast. Led by the domestic business, both subscriptions and
ARPU have increased.
✓ Regarding subscriber numbers, Oisix implemented a about 1-monthsuspension of new customer acquisitions. Since May, however,acquisitions have gradually been resumed.
✓ Daichi and Radish Boya have seen subscriptions rise reflecting both anorganic increase in customer inquiries as well as inquiries being redirectedto them from Oisix (owing to Oisix’s temporary suspension of new
customer acquisitions).
✓ ARPU increased significantly by about 25 to 30% YoY for all three brands●Profits✓ Marginal profit ratio improved due to increased ARPU in addition toincreased profits due to increased sales✓ Also, due to the tight capacity of Oisix, we stopped new acquisition forabout 1 month, resulting in unused new promotional costs of about 650
min yen, which was temporarily added.
4

FY2021/3 1QHighlights
Sales: Affected by COVID-19, the number of subscribers
and ARPU exceeds the initial forecast.
Profits ：In addition to the sales boost from COVID-19, unspent customer
acquisition expenses at Oisix resulted in profits above normalized
growth.

Sales

Operating
Income23.13bn yen
vsTarget

+19％

YoY

+42％

2.07bn yen
vsTarget
YoY

+76％

+282％

EBITDA

2.41bn yen
vsTarget
YoY

Net
incomeAttributable toowners of theparent

+60％

+222％

1.18bn yen
YoY

+338％
5

Consolidated Results Overview
Sales and profit both increased YoY. For profits, in addition to theimpact of COVID-19, Oisix's new sales promotion expenses have notyet been used. Temporarily greatly exceeded the forecast.
Sales

EBITDA23.13

bn yenvs Target +19%
YoY
+42%

Operating Income

2.41

bn yenvs Target +60%
YoY
+222%

2.07

bn yenvs Target +76%
YoY
+282%

2.41

23.13

2.07

16.26
15.25
9.60
0.73

0.75

0.32

FY
2018/3
1Q

FY
2019/3
1Q

FY
2020/3
1Q

FY
2021/3
1Q

FY
2018/3
1Q

0.54

0.54

FY
2019/3
1Q

FY
2020/31Q

0.14
FY
2019/3
1Q

FY
2020/3
1Q

FY
2021/3
1Q

FY
2018/3
1Q

FY
2021/3
1Q*For the purposes of like-for-like vs Target comparisons, one extra month of Radish
Boya data (March 2018) was deducted from FY 3/2019 data.

6

YoY: Sales
ARPU and subscribers increased due
to increased demand for home delivery due to COVID-19
Sales （bn yen）
2

Sales
increase:
Other

About
1.6

About
0.4

１ Sales increase(3 home delivery brands): about4.9bn yen

23.13
19.50

About
4.9

16.26
1

3

PurpleCarrotConsolidation・Increase in ARPU

：about3.7bn yen

・ Increase in subsribers ：about1.2bn yen

2 Sales increase: Other：about0.4bn yen

Sales increase:
3 home delivery
brands・EC support/Hong Kong ：about0.5bn yen
・Kindergarten wholesale ：about▲0.1bn yen
Etc.,

３ Purple Carrot Consolidation：about1.6bn yen
FY2020/3
1Q

FY2021/3
1Q

Forecast

7

YoY: EBITDA
Marginal profit ratio improved due to increased ARPU in addition to increased
profits due to increased sales.Oisix's new sales promotion expenses
have not yet been used, resulting in a temporary increase in profit.
１ Profits increase:(3 home delivery brands)：about1.25bn yen

EBITDA（bn yen）
３

About
0.05

Profitsincrease:Other

1Profits increase:

3 home delivery
brands

About
6.5

約4.5

About
0.4

・Increase in ARPU
：about0.95bn yen
・ Increase in subsribers：about0.3bn yen

2.41

４

PurpleCarrotConsolidat
ion

2 Oisix New
About
1.25

About
0.1

2 Oisix New promotional
５

expenses unused：about0.65bn yen

fixed
costs
increase

1.50

promotional
expenses
unused３ Profits increase(Other)：about0.05bn yen
・EC support/Hong Kong ：about0.05bn yen
・Kindergarten wholesale ：±0bn yen
Etc.,

４ Purple Carrot Consolidation：about0.1bn yen

0.75

5 Companywide fixed costs
increase：about0.4bn yen

FY2020/3
1Q

FY2021/3 Forecast
1Q

・Costs for COVID-19：about0.05bn yen
・Costs for Listing：about0.25bn yen
to First Section of the TSE・Personnel expenses, etc. ：about0.1bn yen
8Unused Oisix new promotional
expenses
Existing shipping capacity exceeded due to rapid demand expansion.The suspension of
new customer acquisitions for a period of roughly one month (March-end and April-end)
resulted in promotional expense savings of roughly 450 mn yen■ Exceeded shipping capacity
due to COVID-19
・・Expanding the shipping capacity upper limit,
but could not cover
October 2021:
New Ebina Station
started.
About 3 times theshipping capacity

Shipment quantity

Overcapacity due torapid demand
expansion due to
COVID-19
Demand・・Give priority to delivering products toexisting subscribers and suspension of new
subscribers acquisition during 1-month.
3月
Over
capacity～～
Maximum shipping capacity

Mar. 2020■ Suspension of new subscribers
acquisitions

4月

5月

Stop
acquiringnew
subscribers

6月

7月

Resuming
new acquisitions
in stages✓ new promotional expenses：
About 650 mn yen unused✓ Subscribers：
Lost about 10,000 net increase

Oct.2021

9

Business segment Results
Sales

Marginal profit

Oisix

11.26bn yen 2.36bn yen

Daichi

3.63bn yen 0.72bn yen

RadishBoya*

Otherbusiness(YoY +36％)(YoY +41％)(YoY +154％)(YoY +59％)

4.72bn yen 0.89bn yen(YoY +25％)(YoY +31%)

3.60bn yen 0.39bn yen(YoY +117％)(YoY +53％)

Overview
ARPU increased significantly, and both sales
and profits increased. Suspension of newacquisition for about 1 month.
It gradually resumed acquisition from theend of April, and even with increased
subscribers, it has not been completely
resumed. Profit temporarily increased due tounused new promotional expenses
ARPU increased significantly, and bothsales and profits increased. Significant
increase of subscribers also due to anincrease in natural inquiries and the effectderived from Oisix new acquisition page.
ARPU increased significantly, and both sales
and profits increased. Originally, the number ofsubscribers was in the phase of prioritizing
service improvement and suppressing new
acquisitions, but due to the increase in naturalqueries and the effect derived from Oisix new
acquisition page, it temporarily increased.
In the real business, such as the kindergarten
wholesale, both sales and profits declined,
but EC support from and overseas businessgrew steadily.
In addition, due to the impact of theconsolidation of Purple Carrot, both sales
and profits increased overall.

10

Business segment Results Overview
Sales

23.13
Other

bn yenMarginal profit

10.9％

Segment costs

Total segment costs

RadishBoya

Daichi

Marginal profit Segment costs

19.0％

187.5bn yen

Marginal profit Segment costs

19.9％

Total
Marginal profit

43.8
Marginal profit Segment costs

Oisix

21.0％

bn yenCompanywide fixed costs,
Goodwill etc

23.0bn yen
Operating Income

2.07

bn yen11

2. Our Current Situation
and Response to COVID-19

12

Executive summaryーResponse to COVID-19
Domestic delivery business✔ Demand was strong with a peak occurring in April-May

when a state of emergency was declared. Average ARPU
in 1Q was up 25%~ 30% YoY.

✔ New customer inquiries also saw an increase resulting in 25,000

new subscriptions for the three brands combined. New subscribers
continue to use our services more than initially expected.

✔ Oisix's most important management issue, the increasein shipping capacity, is expected to be resolvedby the operation of the Sayama station from October.
Other✔ In the real business such as nursery wholesale,although sales decreased in April and May,
Since June, it is gradually recovering to pre-COVID-19 levels
13Our Current Situation
and Response to COVID-19① Business Impact in 1Q② Support activities with COVID-19

14

Domestic Delivery business（Three major brands）

Business impact summary

Domestic Delivery business（Other）

ーOisixOther Business

Oisix

Current status

As of end of 4Q

Demand was strong with a peak occurring in
April-May when a state of emergency was
declared. Average ARPU in 1Q was up
25%YoY.

Owing to stronger home delivery
demand vis-à-vis stay home initiatives,
existing subscriber ARPU increased bysome 20% on Mar.

Increased sales of Harumi Kurihara Kit andVegan Kit due to increased meal opportunities
at home and increased health awareness.

We have been implementing various
support initiatives related to COVID19. Examples are the "Sale of School
Lunch Milk" and the "Hokkaido
Product Exhibition."
to shipments exceeding capacity, we× Due
stopped new customer acquisitions for aperiod of 1 month from Mar 26th
to Apr 29th. We are now guiding new
Oisix inquiries to Daichi and Radish Boya.
In the short-term, profits havebenefited from lower implementation of
PR expenses.
But this suggests lost sales in the future.

With the rapid increase in access,Access delay occurs. Stabilized by carrying out
maintenance in Jun.

×

Due to suspension of new acquisition
for 1-month, Lost increase in subscribersof about 10,000.
From the end of April,
Resuming new customers gradually.
The expansion of the Sayama station made it
possible to eliminate capacity.
15

Domestic Delivery business（Three major brands）

Business impact in Oisix
ーKit Oisix

Domestic Delivery business（Other）

Other Business

Vis-à-vis COVID-19, sales of meal kits designed to address new customer
behavior - "increasing cooking time at home" and "increasing healthawareness" - were strong.
■Kit Oisix supervised bycook Harumi Kurihara✔ Kurihara Harumi's online video Kit"Harumi Lesson" captures thegrowing needs of cooking more athome. In June alone, 36,000
meals sold.

■Vegan Kit✔

Awareness of healthy eating
habits have increased with
COVID-19. Unit Vegan Kit
sales has increased byroughly 1.6 times QoQ.

16

Domestic Delivery business（Three major brands）

Business impact in OisixーServer maintenanceDomestic Delivery business（Other）

Other Business

Owing to the sudden increase in server access, the EC siteexperienced slowing processing speeds. Stabilized by carrying out
maintenance in June
Accident✓ Vis-à-vis COVID-19, the sudden increase in accessresulted in the Oisix EC data server experiencing
significant slowing.

Action✓ In early June, the EC site was shut down (about
24-hours) to carry out large-scale inspection/repair
and stabilization.
✓ We plan continuation of environmental measuresin line with the pace of business expansion,
17

Business impact in Oisix
ーSakutto Oisix

Domestic Delivery business（Three major brands）
Domestic Delivery business（Other）

Other Business

The new subscription course "Sakutto Oisix" with limited SKUs is seeing levelsof ARPU that are in line with other subscription courses. In 2Q, we aim tocontinue with new customer acquisitions using "Sakutto Oisix" as a core driver.

■Sakutto Oisix✔ Specialized service for shortening
cooking time and shopping timelaunched in end of Apr.

✔ Despite a small number of SKUs, it isused with the same ARPU as othersubscription courses.
While improving the service,
we will continue to acquire newcustomers centered on Sakutto Oisix
in 2Q.

18

(Re-posting)
Oisix Sayama Station

Domestic Delivery business（Three major brands）
Domestic Delivery business（Other）

Other Business

1. Facility name (tentative)
Oisix Sayama Station

2. address (planned)

Sayama city Saitama Pre.

3. Scheduled start date
Oct. 2020

4. Increased shipping capacity

We plan to cover the capacity until the start of operationof the Shin-Ebina Station in October 2021
－Up to +50% higher than current capacity

5. Initial investment

About 300 million (vehicles, in-house management system, initial rent cost, etc.)

19

Domestic Delivery business（Three major brands）(Re-posting)Future shipping system

Domestic Delivery business（Other）

Other Business

Oisix's most important management issue, the increase in shipping capacity,
is expected to be resolved by the operation of the Sayama station from October.
Apr.2020

Oct.2020

Oct.2021

NEW

Logistics
Base

Shipping
Capacity

Exceeding logistics capacity

Status/Measures

・Launch of Sakutto Oisix,a small SKU service
・Expansion of satellite center⇒Resuming new
acquisitions gradually fromthe end of April

・Current Ebina Station＋
・Fujisawa
・Zama+10% increasein shipping capacity

・With the start of operationof the Sayama station,
there was a goal to solve
the capacity problem

・Actively resume
new acquisitions
・Current Ebina Station
・Fujisawa
・Zama+

・Sayama

Up to +50% increasein shipping capacity*Covers capacity up to
the start of operation of
the Shin-Ebina Station

・Large increase in capacity
due to operationof Shin-Ebina Station

Shin-Ebina Station（※Fujisawa and Sayama will beclosed after Oct. 2021.
Zama is dedicatedto shipping radish）

Maximum shipping
capacity +200% increase20

Business impact summary
ーDaichi/Radish Boya
Daichi

Domestic Delivery business（Three major brands）
Domestic Delivery business（Other）

Other Business

Radish Boya

As of end of 4Q
Owing to stronger home delivery
demand vis-à-vis stay home
initiatives, existing subscriber ARPU
increased by some 20%.

Current status
Demand was strong with a peak occurringin April-May when a state of emergency
was declared. Average ARPU in 1Q wasup 25%~ 30% YoY.

Number of new subscribers grew asa result of more new inquiries fromnatural searches and introductions
via Oisix inquiries

The number of subscribers also
increased by about 6,000 in the 1Q with
the Daichi and Radish-Boya

There are no issues with shipment
capacity currently, but with increased
demand in the future, there is thepossibility capacity will be increasedin the future.

Continued stable supply at existing
distribution centers and improved
center utilization rate

to the sudden increase in× Duedemand, some products becameout of stock or were sold out.

Although the out-of-stock rate has improved
significantly compared to peak demand, it
has remained slightly higher than during
normal .
21

Domestic Delivery business（Three major brands）

Business impact
in Daichi/Radish Boya

Domestic Delivery business（Other）

Other BusinessResponding to changes in customer needs such as “increasing
health/immunity awareness” and “increasing cooking opportunities”
according to the target segment of each brand✓Response to health /immunity improvement✓Providing services
that make cooking fun

・Collaboration with "Dr. Croissant"・Weekend Meal Kit cooked with Kids

・Proposal of "immune diet" under
the supervision of "NHK Publishing"・Present edible flower

22

Domestic Delivery business（Three major brands）

Business impact summary

Domestic Delivery business（Other）

ーOtherAs of end of 4Q
Domestic Delivery business Other（）

EC support（ISETAN DOOR、d-meal kit）
Increased sales due to increased
demand for home deliver×

Current status

Other Business

Both purchasing frequency and pricehave increased from April to May.

Similar to Oisix, shipping capacity isapproaching the upper limit and newacquisition is stopped

Resuming new acquisitions gradually

Tokushimaru

Daily sales amount continuously increased
by about 10%. Strengthening the businessof watching over elderly people
in partnership with the community

Owing to COVID-19, the number of customers
and the unit price for purchase increase, andthe daily sales amount increases by about 10%.

Overseas Delivery Business

Oisix Hong Kong
Earlier than Japan, home delivery
demand began growing in mid-Feb.

Purple Carrot（US）
The number of shipments doubled
as the demand for home delivery
increased sharply.

from the end of April

The number of local Hong Kong
subscribers is increasing rapidly.
Sales have increased to about 3 times YoY

Demand increased from March, peaking
from April to May.
Completed measures for shipping capacity
23

Domestic Delivery business（Three major brands）

Business impact summary

Domestic Delivery business（Other）

ーOtherAs of end of 4Q

SinS
From April, both positive factors ofincreased store visits and negative
effects of department store
closures are expected to occur.
Kindergarten wholesale

Other business×

After April, expected to deteriorate
due to the Kindergarten closures.

Advertisement

×

After April, expected to deteriorated
due to the curbing advertisingexpenses of business partners

DEAN&DELUCA
decrease in× Significant
sales and profit due totemporary closure

Current status

Other Business

Owing to the COVID-19, increase insupermarket visits, some stores saw
higher sales. Others have been hurt
by temporary closure of fresh produce
sections within department stores.
Owing to the Kindergarten closure,sales decreased by about 50% in April andMay, but gradually recovered to normal
levels after June.
Performance in the real-media
advertising business deteriorated, but
the flyer business for parcel delivery
subscribers performed wellSignificant increase in April and May due
to temporary closure.
The decline in sales and profits also
gradually recovered from June.
Online shop sales remain strong24

Other support activities
ーWe support“We Support,” which is a food support platform for medical professionals, has supplied acumulative total of 100,000 food items to medical institutions. We look to continue our efforts

in light of recent increases in new COVID-19 cases and inpatient hospitalizations.

Support achievement■ We support
・・A platform that connects medical
institutions with food support companies

About◆Total amountof support：

0.24bn yen◆Total amount of
support meals：

About

250,000meals◆Support company：
・Ajinomoto

82

・Ito-en・Kameda Seika etc.

71

◆Support medical
institution：
・Eiju General Hospital・Tokyo shinagawa Hospital etc.

*As of 31 Jul. 2020

25

Our Current Situation
and Response to COVID-19① Business Impact in 1Q② Support activities with COVID-19

26

Support activities with COVID-19
ーRestaurant support

The “Home Restaurant” initiative which supports restaurants affected by COVID-19
saw large expansion in users. Customer satisfaction also rose beyond 80%. Goingforward, product offerings will be expanded and support measures continued.

Oisix Home resuaurant✓ Since launch in April, we have expanded to 16 shops and 24 items with our alliance partners.
We will continue to expand the products we handle and provide ongoing support.

・Voice from support resuaurant

NEW(From August)While sales at stores could not be expected,
as a result of online sales in July, we wereable to cover about 40% of sales.
Up until now, I had no particular EC knowhow, but I was able to gain a great deal of
momentum.
Not only e-commerce but also store
recognition has increased for customers
nationwide.
I am very grateful.

27Support activities with COVID-19
ーSightseeing spot support
With ongoing travel and hometown visit restrictions extending into summer
holidays, we launched in August “Oisix Home Travel”, an initiative that supports
local specialty sales and allows users to enjoy local specialties at home.
✓Matcha sweets（Kyoto）✓Sakmon（Hokkaido）“Oisix Home Travel”
・We support the sales effort of locally
produced specialty products that haveeffectively lost normal sales channels owing
to travel restrictions and their impact on✓Oyster/Shrimp（Hiroshima） ✓Seafood（Saga）
tourism and hometown visits.

(Reference)
Questionnaire on how
to spend this summer✓Over 70% of the
respondents said that theywould refrain from goinghome or travel or who could
not decide*Our own survey in 2020

28

3. Results on Business segment

29

Overview of Business Segments① Domestic Delivery business（Three major brands）
Oisix
Daichi
Radish Boya
② Domestic Delivery business（Other）

EC support business for other companies（Alliance）
Tokushimaru（Subsidiary）③ Other Business
Overseas Business
Real Retail Business

30

Domestic Delivery business（Three major brands）

Overview of Business Segments

Domestic Delivery business（Other）

Other Business① Domestic Delivery business（Three major brands）
Oisix
Daichi
Radish Boya
② Domestic Delivery business（Other）

EC support business for other companies（Alliance）
Tokushimaru（Subsidiary）③ Other Business
Overseas Business
Real Retail Business31

Domestic Delivery business
国内宅配
主要3ブランド（Threemajor
brands）＊From this term, the definition of the number ofmembers and ARPU has been changed to reflect
more appropriate business conditions.
Please refer to page 76 for figures for the past
two periods

Oisix KPI

Domestic Delivery business
国内宅配その他（Other）

その他
事業
Other
Business

No. of subscribers：Although suspended for roughly 1-month, new customer acquisitions
have gradually been restarted since May resulting in an increase of roughly 12,000.
ARPU：Vis-à-vis COVID-19, both customer baskets and purchase frequency have risen
reflecting increased orders from existing members.

No. of subscribers

ARPU※

252,303

13,822yen（YoY +13.8％）

252,303（YoY +24.6％）

239,837
226,187
221,612

FY2020/3

230,393

FY2021/3

13,822

202,427
193,461
186,929
177,606
11,745
11,379

11,095
10,634FY2019/3

FY2019/3

FY2019/3

FY2019/3

FY2020/3

FY2020/3

FY2020/3

FY2020/3

FY2021/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

1Q

2Q

3Q

*ARPU=Average Monthly Revenue Per User

4Q

32

Domestic Delivery business
国内宅配
主要3ブランド（Threemajor
brands）

Oisix KPI

Domestic Delivery business
国内宅配その他（Other）

その他
事業
Other
Business

Kit Oisix sales steadily expanded due to increased opportunities

for home rice. Cumulative number of meals sold exceeds 55 million
No. of meal kit course subscribers(Includes Oisix subscribers)

Kit Oisix Quarterly Sales Meals

160,1125.26mnmeals（YoY +24.6％）

160,1123.01mnmeals

150,093

4.18mnmeals

CARG

141,292
134,895
128,551＋33％

111,169
FY2019/3
1Q

94,841

FY2020/3
１Q

FY2021/3
1Q

87,232
79,674✔ Sales increased due to an increase in

FY2019/3 FY2019/3 FY2019/3 FY2019/3 FY2020/3 FY2020/3 FY2020/3 FY2020/3 FY2021/3
1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

meal opportunities at home,surpassing a cumulative total of
55 million meals

1Q

33

Domestic Delivery business
国内宅配
主要3ブランド（Threemajor
brands）

Oisix Topics

Domestic Delivery business
国内宅配その他（Other）

In June we celebrated our 20th anniversary and heldan "Oisix Thanksgiving Day" on our EC site.
With Kit Oisix, we continue to release various collaborative menus.

Oisix Thanksgiving Day

その他
事業
Other
Business

Collaboration in 1Q✔ Collaboration Kit with Benesse"Kodomo Challenge"✔ Collaboration Salad Kit with "Lifestyle
Navigator" Emi Sugiyama✔ Loved for many years, we promotemainly PB products that contribute tofrequency and Price.
34

Domestic Delivery business
国内宅配
主要3ブランド（Threemajor
brands）＊From this term, the definition of the number ofmembers and ARPU has been changed to reflect
more appropriate business conditions.
Please refer to page 76 for figures for the past
two periods

Daichi KPIDomestic Delivery business
国内宅配その他（Other）

その他
事業
Other
Business

No. of subscribers：Significant increase due to increase in new queries bynatural search and induction from Oisix page
ARPU：Due to the rapid increase in needs due to COVID-19, both purchasing
frequency and price increased significantly

No. of subscribers

ARPU※

43,941

27,117yen（YoY +14.1%）（YoY +30.2％）

44,086 43,775

42,071

FY2020/3

43,94140,18938,517

FY2021/3

37,532 37,121 37,127

27,11722,391
21,604
20,821
21,159FY2019/3

FY2019/3

FY2019/3

FY2019/3

FY2020/3

FY2020/3

FY2020/3

FY2020/3

FY2021/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

1Q

2Q

3Q

*ARPU=Average Monthly Revenue Per User

4Q

35

＊From this term, the definition of the number ofmembers and ARPU has been changed to reflect
more appropriate business conditions.
Please refer to page 76 for figures for the past
two periods

らでぃっしゅぼーや KPI

Domestic Delivery business
国内宅配
主要3ブランド（Threemajor
brands）
Domestic Delivery business
国内宅配その他（Other）

その他
事業
Other
Business

No. of subscribers：Significant increase due to increase in new queries bynatural search and induction from Oisix page
ARPU：Due to the rapid increase in needs due to COVID-19, both purchasing
frequency and price increased significantly

No. of subscribers

ARPU※

62,51523,189円（YoY 2.8%）（YoY +27.4％）

74,240

FY2020/3

71,616
66,07062,93561,00959,400 58,528

62,515

FY2021/3

23,18956,935
19,65918,202FY2019/3 FY2019/3 FY2019/3 FY2019/3 FY2020/3 FY2020/3 FY2020/3 FY2020/3 FY2021/3
1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

18,621
17,926

2Q

3Q

4Q

1Q

*ARPU=Average Monthly Revenue Per User

36

Domestic Delivery business（Three major brands）

Overview of Business Segments

Domestic Delivery business（Other）

Other Business① Domestic Delivery business（Three major brands）
Oisix
Daichi
Radish Boya
② Domestic Delivery business（Other）

EC support business for other companies（Alliance）
Tokushimaru（Subsidiary）③ Other Business
Overseas Business
Real Retail Business37

Domestic Delivery business（Three major brands）

EC support

Domestic Delivery business（Other）

Other Business

Whilst shipping capacity was tight and COVID-19 led to suspension of new
customer acquisitions similar to Oisix, acquisitions have gradually
resumed since May. Like the domestic Home Delivery business, ARPU has
seen significant increase.
ISETAN DOOR
for Isetan Mitsukoshi's EC business✔ Support
Commissioned from operation andmanagement of EC sites to distribution anddelivery✔ Subscribers continues to grow steadily in 1Q

D-meal Kit
in July 2019 in collaboration with NTT✔ Started
DOCOMO. Offer regular delivery services,
mainly meal kit for NTT DOCOMO’s customers
to changing customer needs✔ Respondingby expanding the lineup of retorts
and frozen side dishes

38

Domestic Delivery business（Three major brands）

Tokushimaru(subsidiary)

Domestic Delivery business（Other）

Other Business

Significant growth in both total distribution and operating units.
Daily sales amount continuously increased by about 10%. We started a newpartnership with Ito-Yokado in April and aim to further accelerate expansion.

The value of circulation

Development Scale

3.79

Number of affiliatedsupermarkets

bn yen（YoY +57.1%）

3.79

130

Number of vehicles
in operation

555

2.41

1.22

415

555

1.78

0.69

314
243

168
FY2017/3

FY2018/3

FY2019/3

FY2020/3

FY2021/3

1Q

1Q

1Q

1Q

1Q

39

Domestic Delivery business
国内宅配
主要3ブランド（Threemajor
brands）（Re-posting）
Changes in Tokushimaru's management
structure and future growth strategies

Domestic Delivery business
国内宅配その他（Other）

その他
事業
Other
Business

While continuing efforts to expand our mobile sales business for shopping
refugees, we are also advancing development of new businesses such as themedia business.

■ Changes in Tokushimaru's management structure
Name

New position

Shingu Ayumu

President and Representative
Director

Director

Director, Founder,
In charge of new businessPresident and Representative
Director

Sumitomo Tatsuya

Previous position■ Future growth strategies
Strategy1

Accelerate expansion of mobile sales businessfor shopping refugees⇒Until the number of vehicles in operation reaches
1,000 we are prioritizing infrastructure development
over profitability.

Mr. Shingu is in charge of strengthening
cooperation with the Oisix ra daichi toaccelerate expansion

Strategy2
New business development
such as media business⇒We look to develop new businesses that leverage our ability
to make in-person contact with roughly 150,000 seniorcitizens twice a week.

Mr. Sumitomo, who has strengths in the
media business, is in charge of.

＊1,000台到達時の利用者数試算

40

Domestic Delivery business（Three major brands）

Overview of Business Segments

Domestic Delivery business（Other）

Other Business① Domestic Delivery business（Three major brands）
Oisix
Daichi
Radish Boya
② Domestic Delivery business（Other）

EC support business for other companies（Alliance）
Tokushimaru（Subsidiary）③ Other Business
Overseas Business
Real Retail Business

41

Purple Carrot(U.S.)※Purple Carrot shows the businesssituation from Jan. to Mar.

Domestic Delivery business（Three major brands）
Domestic Delivery business（Other）

Other BusinessWe achieved a quarterly profitability earlier than initially expected.
Since this is a temporary increase in sales, we aim to continuously generate revenue.
Started selling meal kits at "Whole Foods Markets" from JulyBusiness status

New Topics✔ On the back of Netflix’s “Vegan Dietary Life Special
Issue” in the U.S. and the effect of COVID-19,
subscriptions increased by roughly 30% QoQ.

✔ In July we commended sales of meal kits at"Whole Foods Markets," the largest organic
retailer in the United States.

✔ Even in the phase of increasing the numberof subscribers, the main complaint ratecontinued to decrease by 30% YoY.

◆No. of subscribers

QoQ

about+30％
QoQ

about+20％

FY2019/12
3Q

FY2019/12
4Q

FY2020/12
1Q

42

Domestic Delivery business（Three major brands）

Hong Kong/Shanghai

Domestic Delivery business（Other）

Other BusinessHong Kong：Owing to COVID-19, subscriptions in Hong Kong has seen strong
growth. We reinforced Ec site to meet the needs of the residents of HK.
Shanghai：Started trial service of meal kit from June

■ Hong Kong

■ Shanghai✔ Owing to COVID-19, subscriptions in Hong

✔ Started trial service of meal kit from

Kong has seen strong growth. We reinforced
Ec site to meet the needs of the residents ofHK.

sales of Oisix branded agricultural✔ We
products and juices in Hong Kong's largest
newly opened MUJI stores. We Aim toincrease local recognition and induct to homedelivery business

June

continuous customer hearings, we✔ Throughlook to adjust recipe content, marketing, andrefine our products to a level that meets theneeds of the Chinese people.

▲Sales floor for newly opened MUJI store

43

Domestic Delivery business（Three major brands）

Real Retail Business

Domestic Delivery business（Other）

Other Business

SinS：We have continued to expand Kit Oisix sales shops to enhance brand touch-points
kindergarten wholesale：About 100 mn yen in sales declined due to the effects ofkindergarten closures, but gradually recovered to previous levels from June

Shop in Shop

Kindergarten Wholesale

0.19

0.16

Sales

Sales

bn yenbn yenNo. of shops

No. of tradingkindergartens

152

402
0.18

0.18

0.19

0.24
0.17

0.16

0.1

0.05

FY2018/3

FY2019/3

FY2020/3

FY2021/3

FY2018/3

FY2019/3

FY2020/3

FY2021/3

1Q

1Q

1Q

1Q

1Q

1Q

1Q

1Q

44

Kindergarten Wholesale
TopicsDomestic Delivery business（Three major brands）
Domestic Delivery business（Other）

Other BusinessIn addition to providing lunch menus and ingredients, since April we have begun
offering "food education content" at nursery schools. Demand has been high as many
nursery schools lack the resources for food education. Already more than 100
nurseries have introduced the program.

45

Domestic Delivery business（Three major brands）

Future Food Fund

Domestic Delivery business（Other）

Other BusinessToyota Tsusho Corp. and TV Tokyo Direct Co., Ltd. will newly invest in the Future
Food Fund as LPs. For its part, FFF has determined to make new investments in
Base Food and Foods Cacao.
Limited Partnar

NEW
The only corporate venture capitalin Japan that specializes in the area

Food Start-ups

of ​food innovation.
As a business in the food sector,
we aim to build an entire
ecosystem by actively investing in
advanced processes in "food,agriculture, and healthcare" both inJapan and overseas.

◆Base FoodNEW

Subscription sales of fullmeal pasta and wholegrain bread◆Foods cacao
・Cacao bean development inSoutheast Asia
・Sale of original chocolate
brand

46

Impact of heavy rain in July
Whilst the heavy rainfall in July, mainly in the Kyushu region, had no major
business impact, we continue to implement risk reduction measures under
BCP for natural disasters.

Impact✓ there was no major impact on harvest of fruits and vegetables✓ Although some suppliers of processed products suffered flood damage,there was no major impact.

Although impact was minimal this time around, as part of a continuous
BCP program against natural disasters, we aim to build a more robust
supply network via a geographical portfolio of suppliers.
Support for disaster area
✓ Supporting our products
such as vegetable juice and donuts
according to the needs of thedisaster area.
47

4. New Business Topics

48

Business alliance withOOTOYA Holdings
An alliance was concluded with OOTOYA Holdings, a chain with roughly 350
restaurants nationwide. Utilizing a new EC site where users can readily access
OOTOYA menus at home, we aim to build a 3 bn yen (annual Circulation) business

Oisix ra daichi

OOTOYA×
・Direct transactions with producers

・Brand power

・Meal kit own factory・Manufacturing and logistics infrastructure
specialized for subscribers
・About 360,000 subscription members

・High customer loyalty
・Product planning ability/
Menu development ability
・About 460 restaurant networks nationwide*"Home OOTOYA Subscription Business (tentative name)"✔ Launch subscription service for frozen side dishes, bosed lunch✔ Kit Oisix supervised by “OOTOYA restaurant”✔ Providing a collaboration menu with us at “OOTOYA restaurant”*Number of restaurants in Otoya HD as a whole49

Strengthening joint businesswith other companies' EC
We will use our subscription know-how and assets to strengthen
joint business with other companies' EC
Own brands

other companies' EC
NEW・Direct transactions with producers
・Meal kit own factory・Manufacturing and logistics infrastructure
specialized for subscribers
・About 360,000 subscription members✓According to the Oisix user survey,"OOTOYA" was selected as
the most satisfying store*.
We believe that the affinity
between Oisix users and OOTOYA
is very high.
✓There is a great need for eating
at a restaurant menu at home,
and the "home restaurant"
project is also well received.
The joint business with OOTOYA
matches the needs of with
COVID-19 period.

*Results of questionnaire in Japanese food category50

5. Profits outlook after FY2021/3 2Q

51

Profits outlook after
FY2021/3 2Q
Given that tight shipping capacity issues will not be completely resolved in 2Q.
In the 2H, we plan to increase in logistics costs associated with the operation of the
Sayama station and a large-scale PR investment.
On the other hand, it is difficult to forecast the impact of CIVID-19, so the forecast
announced in May remains unchanged.

Profits outlook

2Q

3Q

4Q

Sustained boost to sales vis-avi COVID-19 and restrained
new promotional spending
suggest continuation of
growth above normalized
levels.
Sales are expected toincrease during the yearend/New Year holidays. On
the other hand, expenses are
expected to rise reflecting thestart-up of Sayama Station
and autumn PR spending.
To secure growth next fiscal
year and beyond, we plan inspring a large-scale PR
campaign which will likely
impact profit margins.

Sales

＋

Shorter summer vacationand increased demand due
to self-restraint

Costs
Continue to suppress new
sales promotion expenses
to adjust shipping capacity－ Oisix auturm PR costs
increase due to year＋ Sales
end and New Year sales
promotion (Same as usual)－Possibility that ARPU will
gradually decrease
to pre-COVID-19 levels－ Initial fee of Sayama station
Increase in logistics costs－ associated with Sayama
station operation

Oisix Spring large-scale PR－ costs(Planned large-scale upfront
investment for the next term,
including unused portion ofthis term)52

6. ESG Topics

53

Farm for Tomorrow, Table for Tomorrow
We provide services that enable a better food life
for more people.
We evolve continuously where good farmers are
rewarded and proud.
We realize a society that 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.
54

Hosting events online
Social events previously held offline were reviewed and held online for the firsttime. In short order, we built a new model overcoming physical constraints todeliver new value.

Tokyo Harvest

A Million People Candle night✓ One of Japan's top harvest festivals in✓ We proposed a slow life without using electricity.

honor of those who produce our food.

✓ It was held in conjunction with the radio station.

✓ It was pleased to talk from the field.

✓ The number of views were more than 4 times✓ Over 10,000 views have been delivered.

the plan▲Online relay from the ship and farm

▲Unmanned live by online
55

Sustainable food culture
Proposing sustainable means to enjoy the endangered Japanese eel.
Daily promotions reflecting customer desire for “preservation of foodculture" and "alternative eating styles" being implemented
Change the sell way✓ Accept reservations,sell the required amount.
✓ Handling only frozen
products with long shelf life.

Suggest how to eat

For next generation✓ We suggest sustainable✓ We established ”Sasaeel“Doyo no Ushinohi”. By telling

Unagi Fund”.

you how to enjoy smaller
amounts and eat alternative
ingredients.

✓ The donation is used forjoint research with theuniversity and contributes tothe elucidation of eel ecology*Our own survey in 2018

56

New producer group “F5”
We consolidated several producers and manufacturers and aim to
make the resulting organization “the foremost group challenging thefuture of food in Japan.”■ Farmers & Fishermen For Future Food（F５）✓ Further improve agricultural technology and acquire expertise by facilitating interactions
between producers and experts.
✓ Develop products that meet needs by providing opportunities for dialogue with customers.

・technique, experience, knowledge

・product development, logistics

・product background・network with customers

Increase our brand value by continue to provide best products.
57

Welcome Back Ceremony
Since 2017, we have held an annual “Return-to-Work Ceremony” tosmooth the process of mothers returning to the workforce. In FY3/21,
three male employees are scheduled to take childcare leave.

Taking maternity
and childcare leave

Returning to work
after taking leave

Number of
returned to work

100%

95%

59
*Period：Mar.2013～ Jun.2020

58

APPENDIX・DATA SHEET

59

Corporate Overview

Name：

Oisix ra daichi Inc.

Location：

Shinagawa-ku, Tokyo

Established：

June 2000

Representative： Kohey Takashima, Representative Director & CEO
Capital：3,993,005 thousand yen

Employees：

860 (consolidated), as of the end of March 2020

60

Overview of Affiliates
Consolidated subsidiaries
Tokushi-maru Inc.

Develops alliances with supermarkets in the mobile supermarket business;
provides expertise to sales partners.

Fruits Basket Co., Ltd.

Handles processing, product development, and sales,
for agricultural produce, including fruits and vegetables.

Karabiner Inc.

Develops and operates platform systems for EC sites; produces websites.

Crazy Kitchen Co., Ltd.

Handles catering, event production, and space production businesses.

Oisix Hong Kong Co.,Ltd.

Operates our businesses in Hong Kong under contract.

Oisix Shanghai Co., Ltd.

Operates the food products home delivery business in China.

Purple Carrot

Meal kit delivery service in the United States

Oisix Inc.

Overseas investment business

Future Food Fund Inc.

Investment business for food-related startup companies

Future Food Fund No.1
investment limited partnership

Investment business for food-related startup companies

Affiliates
Nihon Agri Inc.

Exports agricultural products.

DEAN & DELUCA

Lifestyle business through retail and restaurant businesses
61Trend in No. of Employees

860
735
680

421

163

179

FY2012FY2013192

FY2014210

FY2015FY2017/3

FY2018/3(Consolidated)

FY2019/3(Consolidated)

FY2020/3(Consolidated)

62

Main Business Risks
Effects of poor weather
Fresh produce accounts for about 30 % of Group sales. We deploy astructure for fresh produce that makes it possible to secure supplies
from other regions if poor weather in specific regions prevents harvests
or results in poor quality. The system distributes transactions and inprinciple allows procurement of key products from multiple producer
regions. Nevertheless, poor weather lasting longer and having more

broad-ranging effects than expected may lead to product shortages andquality issues, with potential consequences for Group businesses andbusiness results.

Effects of concentrationof logistics centers

Issues related to food safety
We have established proprietary standards for the products handled for all our
major brands. Whenever possible, we seek to offer produce grown without
pesticides or chemical fertilizers. Our processed food products are made using the
fewest possible additives. We have also established unique inspection systems for
produce (including inspections of production sites and testing for residual
pesticides) and processed food products (including use of third-party experts andindependent institutions). We also strive to secure appropriate quality and safetythat can be objectively demonstrated and evaluated through health and safety
management guidance provided to suppliers and other means.
Nevertheless, it remains possible that those who produce the products we offer
may provide misleading or fraudulent labels regarding use of pesticides andsimilar matters or provide false quality information. Such cases could well lead torebuke or penalties from regulators, customer complaints, and compensation fordamages, in turn damaging the image of the Group’s brands or leading to a lossof confidence in the Group and potentially affecting Group businesses andbusiness results.

Effects of relationshipwith Yamato Transport Co., Ltd.

We operate our own logistics centers, where logistics functions such as

Most deliveries of the Group’s products to subscribers are handled byinspection, storage, sorting, and packing of our products are

Yamato Transport. While the Group strives to maintain a favorable ties

concentrated. For the most part, products under the Oisix brand areto Yamato while building relationships with alternative delivery services,shipped to customers through our logistics center located in the city of

due to current conditions in the logistics business, if the Yamato Group

Ebina, Kanagawa Prefecture. Those under the DWMK brand are shipped

were to demand a major increase in delivery fees or if transaction

through a center located in the city of Narashino, Chiba Prefecture. If a

volumes between us were to shrink, the resulting changes may affectnatural disaster, fire, or other cause were render either or both logistics

Group businesses and business results.

centers unable to operate, potential consequences include inventory
losses, shipping delay, and temporary suspension of services, which inturn would affect Group businesses and business results.

63

Our Subscription Model
Expanding our business areas to include alliances and marketing support
for other companies based on subscription model strengths in our threehome delivery brands.
consumers

Our Strength

Home delivery

Marketing forhome delivery
subscriptions

Own brand

Alliance
Managing subscriptions
to ensure thoroughmanagement ofrevenue structures
Purchasing
Producers

Subscription networkwith producers

64What Our Three Brands Deliver
Based on the distribution of safe, reliable food products, each of our threebrands delivers products tailored to the lives and values of our customers.
Working mothers withsmall children

Mothers focusing on
the home and children

Senior women in twoperson households

Meals that can be boasted
without taking time

Self realization
through Cooking

Healthy daily living

Producers

65Subscription Management
Building a subscription model that generates sustained profits
through rapid returns on investment to secure new customers
and rigorous management of per delivery revenue and expenditures
Rigorous CPA and LTV management

Rigorous managementof unit revenues and expenditures

Setting a period to recoup CPA and rigorously

Making percentages of loss-making deliveries visible

managing CPA within this range

for each unit and reducing them structurally

Building a sustained profit stream

ProfitCPA
recovery
periodPriceperpurchase

Profit LTV
Profitabledeliveries

0
Time
CPA

CPA: cost per acquisition
Profit LTV: lifetime acquisition value

Loss-making
deliveries
Subscribers

66

Subscription Network
Reducing risks and securing stable transactions through a subscription
network based on 4,000 producers nationwide and procurement undertransaction conditions arranged in advance
Typical distribution of agricultural products

Consumers

Retail store
Wholesale market

Purchase prices vary
widely withproduction
conditions.

Inability to control
volumes purchased
and prices due tomarket conditions

consumers
Purchases at stablepricing regardless ofmarket conditions

Oisix ra daichi

Facilitating demand
control/projections
through sales plans
based on projectedsupply volumes

Advance purchase commitment basedon specified product types,
quantities, timing, and prices

Agricultural cooperative

Producers

Our efforts

Revenue prospects
unclear due to pricevariations resulting
from market
conditions

Producers

Clear revenue
projections to backsound investment
decisions67Differences in the assetsof the three brands

How tojoin

How toorder

Logistics
bases

Last OneMile

WEB mainlyWEB/
door-to-door sales

WEB mainly

WEB only

WEB/
Paper catalogs/
TEL

WEB/
Paper catalogs/
TEL

2 placein Kanagawa

6 placesin Hokkaido, Miyagi,
Tokyo, Kanagawa,
Aichi, Osaka,.

1 placein Chiba

Yamato trucks
approximately 99％

Our trucks
approximately 95％（area around
Logistics bases）

Our trucks
approximately 85％（area aroundmetropolitan area）
68

EC support
Utilizing the subscription know-how and assets that we have got
in the domestic food delivery business, which is our strength,
we develop the business of supporting other companies' EC

69

Tokushimaru
Offering mobile supermarkets for seniors and “shopping refugees” difficult
to approach via the Internet
Business model
Tokushimaru
Headquarters
Contractual fees
Royalties

Brands, expertise,
information provision

Regional supermarkets
Bases for supply of products

13％
Products

Product gross profits
30％
17％

Sales partners

In-person
sales

Owner-operators＋5 yen＋5 yenCustomers+10 yen rule70

Overseas Home Delivery
Hong Kong / Shanghai: Aim to establish services that meet the needs of local Chinese
consumers
U.S.: Utilize management know-how in food subscription model for Purple Carrot
U.S. Meal Kit Market*

Oisix Shanghai
the service in 2017.
✔ Started
Grasp the needs to establish$2.5

the subscription model for
Chinese customers

Billion
USD

2017

$9
Billion
USD
2025

Purple Carrot Business(U.S.)

Oisix Hong Kong✔
✔

Launched the service inHong Kong in 2009.
Cross-border delivery ofJapanese products
With the spread of coronavirus,

both users and sales aredramatically increasing×
expansion of vegan food x Japanese✔ Globalfood “Health Conscious Food” both in Asiaand the U.S.

✔ Recognize consolidated from FY2020/3 3Q* Hexa Research『Global Meal kit Delivery Service Market Size And Forecast,/ByType (Fresh Food, Process Food) And Trend Analysis, 2015 - 2025』

71

Shop in Shop
Setting up booths for individual brands in the produce sections of partner supermarkets
to sell produce and products that meet each brand’s standards

72Kindergarten wholesale
The kindergarten wholesale business was launched in FY2015. Based on the Omakase Boya systemthat makes it possible to order ingredients for student meals based on menus,
it provides support for kindergarten operations in both serving meals and nutrition.
Oisix ra daichi

Kindergarten

Omakase Boya system
for receiving orders from kindergartens

Producers

Ordering◆Stable purchases of safe produce andprocessed food meeting strict standards◆A wide-ranging product lineup thateliminates the need for additional purchasing

Deliveryon
Requested
date

Purchase◆Full-time senior nutritionists develop uniquemenus for use by kindergartens; they also
respond to requests for nutritional
consultations.
◆Easy ordering using a simplified Web form
◆Simplified single supplier management73

Business Solutions
We propose B2B business solutions based on our safe, reliable products,
outstanding customer base, and expertise in subscription-based EC.

EC consulting
Solutions support basedon our expertise in repeat marketing,site user interface/user experience
improvements,
food logistics in three temperaturezones, securing new EC customers,
and omni-channel management

Ad Oisix:

Tavelty：

Periodic advertisements
delivered to subscribers

seasonal vegetablenovelty products

In addition to an EC site that boasts 1.2
million unique views per month, thisservice delivers advertising to about
300,000 households, including
subscribers to DWMK and Radish Boya.

We offer novelty products basedon our expertise in service,products, and delivery, establishedthrough more than 3 million
regular deliveries a year.

74

DATA SHEET：Results
Results
FY2019/3

FY2020/3

FY2021/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

16,85331,72048,90664,026

16,26532,552

52,42571,04023,132

Operating Profit

610

1,115

2,265

2,312

543

900

1,597

2,467

2,076

EBITDA

808

1,513

2,882

3,154

755

1,348

2,381

3,595

2,419

381Net income
Attributable toowners of theparent

537

893

2,533

2,387

270

390

695

790

1,184

（mn yen）

Sales

75

DATA SHEET：Business Segment Result
Business Segment Result
FY2019/3（mn yen）

Oisix

Daichi

Radish Boya

OtherBusiness

FY2020/3

FY2021/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

Sales

6,863

13,76922,19029,6198,308

16,524

26,52235,82911,265

Marginal
profit

970

1,943

3,371

4,036

933

1,868

3,261

4,801

2,367

Sales

2,769

5,440

8,405

10,902

2,587

5,137

7,936

10,541

3,636

Marginal
profit

479

960

1,536

1,989

457

885

1,397

1,889

724

Sales

5,811

9,926

14,34618,028

3,770

7,459

11,41014,9804,721

Marginal
profit

1,030

1,765

2,657

3,342

688

1,273

2,001

2,667

899

Sales

1,482

2,755

4,198

5,793

1,663

3,529

6,383

9,497

3,601

Marginal
profit

154

290

479

724

256

557

656

846

391

2,024

3,844

5,779

7,779

1,792

3,683

5,719

7,736

2,305

Companywide fixed costs,
Goodwill etc

76

Data Sheet：Main KPIKPI trend
FY2019/3

Oisix

Daichi

RadishBoya

FY2020/3

FY2021/3

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

Subscribers(number)

177,606

186,929

193,461

202,427

221,612226,187

230,393239,837

252,303

ARPU
（yen）

11,558

11,118

11,522

11,173

11,095

10,634

11,37911,745

13,822

Price/
purchase
（yen）

6,005

5,973

6,149

6,013

5,884

5,840

6,055

6,166

6,748

Purchase
Frequency(number)

1.92

1.86

1.87

1.86

1.89

1.82

1.88

1.90

2.05

Subscribers(number)

44,086

43,77542,07140,18938,51737,532

37,121

37,12743,941

ARPU（yen）

20,247

19,807

20,226

19,171

20,821

21,15922,391

21,604

27,117

Price/
purchase
（yen）

7,899

8,121

8,573

8,046

8,195

8,292

8,732

8,508

9,234

Purchase
Frequency(number)

2.56

2.44

2.36

2.38

2.54

2.55

2.56

2.54

2.94

Subscribers(number)

74,24071,616

66,07062,93561,00959,40058,52856,93562,515

ARPU（yen）

17,15817,076

18,43917,401

18,202

17,926

19,65918,621

23,189Price/
purchase
（yen）

5,460

5,616

6,114

5,869

6,055

6,060

6,398

6,206

7,028

Purchase
Frequency(number)

3.14

3.04

3.02

2.97

3.01

2.96

3.07

3.00

3.30

77

Disclaimers◆This material is intended to provide an understanding of Oisix ra daichi activities,

not to solicit investment◆Forecasts of Oisix ra Daichi’s operating results and future performance are based on information

available to Oisix ra daichi at the time this material was drafted and are not guaranteed to beaccurate.
Actual operating results may differ from the future outlooks contained in this material.

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