Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In theevent of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

May 14, 2024

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
[Japanese GAAP]
Company name:

Oisix ra daichi Inc.

Stock exchange listings: TSE

Securities code:

3182

URL: https://en.oisixradaichi.co.jp/

Representative:

Kohey Takashima, Representative Director, CEOContact:

Shigeru Kumano, Corporate Officer, General Manager of Administration Division

Scheduled date of annual general meeting of shareholders:June 25, 2024

Scheduled date of filing of annual securities report:

June 26, 2024

Scheduled date of payment of dividend:-

Preparation of supplementary materials for financial results:

Yes

Holding of financial results meeting:Yes(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for the fiscal year ended March 31, 2024
(from April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(% of change from previous year)
Profit attributable

Fiscal year ended

Net sales

Operating profit

EBITDA*1

Ordinary profit

to owners of theparentMillion yen%

Million yen%

Million yen%

Million yen%

Million yen%

March 31, 2024

148,408

28.9

5,144

53.7

8,254

47.5

4,438

57.9

4,120

128.0

March 31, 2023

115,176

1.5

3,346

(19.8)

5,595(10.0)

2,810(32.3)

1,807(33.7)

Comprehensive income: Fiscal year ended 2024.3
Fiscal year ended 2023.3

3,397 million yen (46.5%)
2,319 million yen ((21.9%))(Note)*1. EBITDA stands for earnings before depreciation and amortization.

Fiscal Year ended

Net Profit per

Diluted Net profit

Share

per Share

Ratio of Ordinary
Return on Equity

Profit to Total

Ratio of Operating
Profit to Net Sales

Assets

Yen

Yen

%

%

%

March 31, 2024

112.72

－

15.4

4.3

3.5

March 31, 2023

49.45

－

7.7

4.8

2.9

(Reference)
Share of profit (loss) of entities accounted for using equity method: Fiscal year ended 2024.3
Fiscal year ended 2024.3(24) million yen(113) million yen(Note)
Diluted net profit per share are not stated because there are no dilutive shares.

(2) Consolidated Financial Position
Period ended

Total Assets

Shareholders’

Net Assets

Net Assets per

Equity Ratio

Share

Million yen

Million yen%

Yen

March 31, 2024

143,728

37,42020.2

795.17

March 31, 2023

64,502

26,14038.1

672.84(Reference)
Shareholders’ equity: Fiscal year ended 2024.3

29,069million yen

Fiscal year ended 2023.3

24,597million yen

1(3) Consolidated Cash Flow
Cash and Cash

Cash Flows from

Cash Flows from

Cash Flows fromOperating Activities

Investing Activities

Financing Activities

Million yen

Million yen

Million yen

Million yen

March 31, 2024

8,049

(11,141)

17,73529,440March 31, 2023

5,306

(12,135)

8,265

14,720Fiscal year ended

Equivalents at End
of Period

2. Dividends
Annual Dividend per Share

Fiscal Year ended or
ending

1Q

2Q

3Q

Cash

Year-end

Total

Ratio of Dividend
Payout Ratio

Dividend

to Net Assets(Consolidated)(Total)(Consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen%%

March 31,2023

―

0.00

―

0.00

0.00

―

―

―

March 31,2024

―

0.00

―

0.00

0.00

―

―

―

March 31,2025

0.00(Forecast)

0.00

―

0.00

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

3. Forecast for the Fiscal Year Ending March 31, 2025 (from April 1, 2024 to March 31, 2025)(% represent year-on-year changes)
Profit attributable
Fiscal year ended

Net sales

Operating profit

EBITDA*1

to owners of theparentFull YearNet Profit per
ShareMillion yen%

Million yen%

Million yen%

Million yen%

Yen

255,000

71.8

7,000

36.1

11,000

33.3

3,200

(22.3)

87.53(Note)*1. EBITDA stands for earnings before depreciation and amortization.

2

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

Yes

New: 3 companies (SHIDA Holdings Corporation (currently SHiDAX Holdings Corporation), SHiDAX
CORTPORATION, DAISINTO CO., LTD)
Excluded: None
(2) Adoption of specific accounting treatments to the preparation of consolidated quarterlyNonefinancial statements:(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 share):
As of March 31, 2024

38,028,092shares

As of March 31, 2023

38,028,092shares

2) Number of treasury shares:
As of March 31, 2024

1,470,130shares

As of March 31, 2023

1,469,994shares

3) Number of average shares during the period:
Fiscal Year ended March 31, 2024

36,558,053sharesFiscal Year ended March 31, 2023

36,555,918shares(Reference)

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024
(From April 1, 2023 to March 31, 2024)(1) Operating Results
Fiscal year ended(% of change from previous year)
Net sales

Operating profit

Ordinary profit

Net Income

Million yen%

Million yen%

Million yen%

Million yen%

March 31, 2024

104,580

1.7

6,010

40.0

5,802

37.1

5,737

120.2

March 31, 2023

102,821

1.3

4,291

7.0

4,230

4.8

2,605

2.4

Fiscal year ended

Net Income per

Diluted Net Income

Share

per Share
Yen

Yen

March 31, 2024

156.93－

March 31, 2023

71.27

－

(2) Financial Position
Period ended

Total Assets

Shareholders’

Net Assets

Net Assets per

Equity Ratio

Share

Million yen

Million yen%

Yen

March 31, 2024

80,73930,36737.6

830.67

March 31, 2023

61,722

24,55839.8

671.75(Reference)
Shareholders’ equity: Fiscal year ended 2024.3

30,367million yen

Fiscal year ended 2023.3

24,558million yen* This financial results 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 asof the date of publication of this document. They are not intended as the Company’s commitment to achieve such forecasts, and actual
results may differ significantly from these forecasts due to a wide range of factors.

3

Consolidated Financial Statements(1) Consolidated Balance Sheet(Millions of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits

14,775

Notes receivable – trade29,649－57

Accounts receivable - trade

9,626

24,879Merchandise and finished goods

1,802

2,438

Work in process

77

125

Raw materials and supplies

599

1,595

Accounts receivable - other

3,147

1,553

886

1,713

(234)

(285)

30,68061,728

Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

2,027

3,667

Accumulated depreciation(858)(1,825)

Buildings and structures, net

1,168

1,842

Machinery, equipment and vehicles

2,857

5,023

Accumulated depreciation(737)(2,548)

Machinery, equipment and vehicles, net

2,120

2,475

Leased assets

13,29622,030

Accumulated depreciation(1,655)(2,576)

Leased assets, net

11,641

19,453943

1,585

Construction in progress
Other

932

2,289

(407)

(1,246)

524

1,043

16,39926,400－25,655

Goodwill

1,190

14,794

Other

2,419

3,081

Total intangible assets

3,609

43,531

Investment securities

11,4503,339

Leasehold and guarantee deposits

1,432

2,595

Deferred tax assets

788

5,132

Other

139

1,073

－

(74)

Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Customer-related assets

Investments and other assets

Allowance for doubtful accounts
Total investments and other assets

13,812

12,067

Total non-current assets

33,82182,000Total assets

64,502

143,7284

(Millions of yen)
As of March 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Accounts payable - trade

6,309

11,159

Short-term borrowings

10,06015,04527

2,166

Current portion of long-term borrowings
Lease liabilities

705

1,270

Accounts payable - other

5,914

15,938

Accrued expenses

1,074

8,924

Income taxes payable

831

3,224

Contract liabilities

397

505

Provision for bonuses

－

1,552

Provision for point card certificates

80

87

Asset retirement obligations

－

32

831

2,968

26,23162,87574

14,648

11,293

18,598

Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Asset retirement obligations

554

942

Deferred tax liabilities

21

8,911

Other

185

331

Total non-current liabilities

12,13043,432

Total liabilities

38,361

106,307

3,995

3,995

Net assets
Shareholders' equity
Share capital
Capital surplus

8,016

8,021

Retained earnings

16,255

20,376

Treasury shares(4,503)(4,504)

Total shareholders' equity

23,76427,890

Valuation difference on available-for-sale securities

155

245

Foreign currency translation adjustment

677

934

Total accumulated other comprehensive income

832

1,179

Accumulated other comprehensive income

Share acquisition rights－

38

Non-controlling interests

1,542

8,312

Total net assets

26,14037,420Total liabilities and net assets

64,502

143,7285

(2) Consolidated Statement of Income and Comprehensive Income
Consolidated Statement of Income(Millions of yen)
Fiscal Year ended

Fiscal Year ended

March 31, 2023

March 31, 2024

Net sales

115,176

148,408

Cost of sales

59,74086,542Gross profit

55,436

61,865

Selling, general and administrative expenses

52,08956,721

Operating profit

3,346

5,144

Interest income

01

Dividend income

04Compensation income

16

19

Subsidy income－

70

Gain on investments in investment partnerships

－

84

Other

67

74

Total non-operating income

84

255

125

236

Commission for syndicated loans－

531

Foreign exchange losses

8

65

113

24

Non-operating income

Non-operating expenses
Interest expenses

Share of loss of entities accounted for using equity
methodLoss on investments in investment partnerships

356

－

Other

17

102

Total non-operating expenses
Ordinary profit

620

960

2,810

4,438

Extraordinary income
Gain on sale of investment securities－

6

Gain on step acquisitions

－

3,447

Total extraordinary income

－

3,453

－

1,002

Impairment losses

14

420

Loss on valuation of investment securities

143

53

Extraordinary losses
Retirement benefits for directors (and otherofficers)

Total extraordinary losses

158

1,475

Profit before income taxes

2,652

6,416

Income taxes - current

1,335

3,259

Income taxes - deferred

(137)

(425)

Total income taxes

1,198

2,834

Profit

1,454

3,582

Profit attributable to non-controlling interests

(353)

(538)

Profit attributable to owners of parent

1,807

4,120

6

Consolidated Statement of Comprehensive Income(Millions of yen)

ProfitFiscal Year ended

Fiscal Year ended

March 31, 2023

March 31, 2024
1,454

3,582

Valuation difference on available-for-sale securities

340

(107)

Foreign currency translation adjustment

514

(94)

9

16

Other comprehensive income

Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income

865

(185)

2,319

3,397

2,462

4,127

(143)

(730)

Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests7(3) Consolidated Statement of Changes in Shareholders’ Equity
Fiscal Year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital

Balance at beginning of period

CapitalRetained

Treasury

surplusearnings

shares

3,994

8,015

1

1

14,448

Total
shareholders'equity(4,503)

21,954

Changes during period
Issuance of new shares
Profit attributable to owners of

2
1,807

parent1,807(0)

Purchase of treasury shares(0)

Capital increase of consolidated－

subsidiaries
Net changes in items other thanshareholders' equity

1

1

1,807

(0)

1,809

3,995

8,016

16,255(4,503)23,764

Total changes during period
Balance at end of period

Accumulated other comprehensive income
Valuationdifference on
available-forsale
securities
Balance at beginning of period

16

Foreigncurrencytranslation
adjustment

160

Total

Share

Non-

accumulatedacquisition

controllingotherrightsinterests

Total net
assetscomprehensi
ve income

177

－

1,739

23,872

Changes during period
Issuance of new shares

25

2

Profit attributable to owners of

1,807

parent(0)

Purchase of treasury shares
Capital increase of consolidated－

subsidiaries
Net changes in items other than

138

516

654

－

(196)

458

Total changes during period

138

516

654

－

(196)

2,267

Balance at end of period

155

677

832

－

1,542

26,140shareholders' equity

8

Fiscal Year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital

Balance at beginning of period

3,995

CapitalRetained

Treasury

surplusearnings

shares

8,016

16,255

Total
shareholders'equity(4,503)23,764

Changes during period－

Issuance of new shares
Profit attributable to owners of

4,120

parent4,120(0)

Purchase of treasury shares
Change of shares of(0)

4

consolidated subsidiaries

4

Net changes in items other thanshareholders' equity

－

4

4,120

(0)

4,125

3,995

8,021

20,376(4,504)27,890Total changes during period
Balance at end of period

Accumulated other comprehensive income
Valuationdifference on
available-forsale
securities
Balance at beginning of period

155

Foreigncurrencytranslation
adjustment

677

Total

Share

Non-

accumulatedacquisition

controllingotherrightsinterests

Total net
assetscomprehensi
ve income

832

－

1,542

26,140Changes during period－

Issuance of new shares
Profit attributable to owners of

4,120

parent(0)

Purchase of treasury shares
Change of shares of

4

consolidated subsidiaries
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

89

256

346

38

6,770

7,154

89

256

346

38

6,770

11,280

245

934

1,179

38

8,312

37,4209

(4) Consolidated Statement of Cash Flow
(Millions of yen)
Fiscal Year ended

Fiscal Year ended

March 31, 2023

March 31, 2024

Cash flows from operating activities
Profit before income taxes

2,652

6,416

Depreciation

1,985

2,614

Amortization of goodwill

263

495

Impairment losses

14

420

Loss (gain) on valuation of investment securities

143

53

Increase (decrease) in allowance for doubtful accounts

235

Increase (decrease) in provision for bonuses－

778Interest and dividend income

(0)

(6)

Interest expenses

125

236

－

537

113

24

Commission for syndicated loans
Share of loss (profit) of entities accounted for using equity
methodLoss (gain) on investments in investment partnerships

356

(84)

Decrease (increase) in trade receivables

(660)

363

Decrease (increase) in accounts receivable – other

(220)

1,626

Decrease (increase) in consumption taxes refund receivable

367－

Decrease (increase) in inventories

144

33

Increase (decrease) in trade payables

55

(648)

Loss (gain) on sale of investment securities－(6)

Compensation Income

－

(19)

Subsidy income

－

(70)

Gain on step acquisitions－(3,447)

Increase (decrease) in accounts payable - other217(1,079)

Increase (decrease) in contract liabilities

146

(673)

Increase (decrease) in accrued expenses

(12)

858

Other, net

489

972

Subtotal

6,184

9,432

1

162

(125)

(237)

800

－

Interest and dividends received
Interest paid
Payments into deposit money
Proceeds from repayment of deposit money

(800)

－

Income taxes paid

(752)

(1,358)

Subsidies received－

71

Proceeds from compensation for damage－

19

Expenses related to research financial statements paid
Net cash provided by (used in) operating activities

10

－

(41)

5,306

8,049

Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting in change in scopeof consolidation
Payments of leasehold and guarantee deposits(1,228)(1,623)(848)(1,159)(10,222)

(997)

100

42

－

(7,217)

(422)

(173)

Proceeds from refund of leasehold and guarantee deposits

503

4

Other, net

(17)

(18)

(12,135)(11,141)

Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings

9,050

4,984

Proceeds from long-term borrowings－

16,201

Repayments of long-term borrowings(39)(2,276)2－

Proceeds from issuance of shares
Proceeds from share issuance to non-controlling shareholders
Refund from non-controlling interest

37

562

(92)

(362)

Purchase of treasury shares

(0)

(0)

Repayments of lease liabilities

(692)

(832)

Commission for syndicate loan

－

(540)

Other, net

－

(0)

8,265

17,735250

77

Net increase (decrease) in cash and cash equivalents

1,686

14,720Cash and cash equivalents at beginning of period

13,033

14,720Cash and cash equivalents at end of period

14,72029,440Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents(5) Notes to consolidated financial statement(Notes on Going Concern Assumption)
None

11

(Segment information)⚫

Changes in Reportable Segments

From the fiscal year ended March 31, 2024, the calculation method of segment profit and reportable segments havebeen changed due to the reclassification of the business portfolio and the accompanying review of performance
evaluation and analysis indicators by the Board of Directors following the consolidation of SHIDA Holdings Corporation(currently SHiDAX Holdings Corporation) as a consolidated subsidiary.
The reportable segments have been changed from "Home Delivery Business (Oisix)," "Home Delivery Business(Daichi wo Mamorukai)," "Home Delivery Business (Radish Boya)," and "Home Delivery Business (Purple Carrot)" to"B to C Subscription," "B to B Subscription," "Social Services" and "Vehicle Operation Services."
B to C Subscription includes the existing "Home Delivery Business (Oisix)," "Home Delivery Business (Daichi wo
Mamorukai)," "Home Delivery Business (Radish Boya)," and "Home Delivery Business (Purple Carrot)." B to B
Subscription includes the "Suku-suku Oisix" business, which wholesales food ingredients to nursery schools, and the"Food Service Business" of the consolidated subsidiary SHiDAX. "Social Services" and "Vehicle Operation Services",
which were businesses of the SHiDAX, were added as reportable segments, respectively.
The calculation method of segment profit has been changed to allocate salaries, allowances, and legal welfare
expenses ("fixed personnel expenses") and some business operation-related expenses to each business segment,
which were previously included in corporate expenses.
Fiscal year ended March 31, 2023
Information on the amounts of net sales, profit or loss by reportable segment
Reportable Segment
Amount on

VehicleB to CB to B

SocialSubscription

Subscription

Services

Operation

Other

Total

businesses

Services

Adjustments

Consolidated
Statementsof IncomeNet Sales
Oisix

59,413－－－59,413－－59,413

12,345－－－

12,345－－

12,345

Radish Boya

16,939－－－16,939－－16,939Purple Carrot

9,769

－

－

－

9,769

－

－

9,769

Medical Food

－

－

－

－

－

－

－

－

Contract Food

－

－

－

－

－

－

－

－

Suku-suku Oisix

－

1,293

－

－

1,293

－

－

1,293

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

15,414－

15,414

98,468

1,293

－

－

99,761

15,414－

115,176

－

－

－

－

－

－

－

－

98,468

1,293

－

－

99,761

15,414－

115,176

－

－

－

－

－

1,237

(1,237)－

98,468

1,293

－

－

99,761

16,652(1,237)

115,176

Daichi wo
Mamorukai

After-school careservicePublic school
lunch service
Social service
Executive vehicle
management
General vehicle
management
Passenger
transport
Other
Revenue fromContracts with
Customers
Other
Net sales toexternalcustomers
Intersegmental
net sales andtransfers
Total

12

Segment profit(loss)
Segment assets

6,892

(6)

－

－

6,886

818

(4,358)3,346

45,806344－－

46,15016,822

1,528

64,502

1,588

2

－

－

1,590

81

313

1,985

263

－

－

－

263

－

－

263

－

－

－

－

－

(113)

－

(113)

－

－

－

－

－

9,426

－

9,426

1,902

3

－

－

1,905

151

162

2,219

Other Items
Depreciation
Amortization of
goodwill
Share of loss
(profit) of entities
accounted forusing equity
methodInvestments inequity method
affiliates
Increase inproperty, plantand equipment
and intangible
assets
Notes:
1. The "Other businesses" segment is a business segment not included in the reported segments and includes other companies' EC
support business, mobile supermarket business, and web system development business and others.
2. The main components of segment profit in "Adjustments" are fixed personnel expenses and corporate expenses, which are generaland administrative expenses that do not belong to any business segment. "Segment assets" consist mainly of corporate assets that do
not belong to any reportable segment. "Depreciation" represents the depreciation of corporate assets that do not belong to any
reportable segment, and "Increase in property, plant and equipment and intangible assets" represents the increase in corporate assetsthat do not belong to any reportable segment.
3. Adjustments were made to reconcile segment profit to operating profit or loss presented in Consolidated Statements of Income.

13

Fiscal year ended March 31, 2024
Information on the amounts of net sales, profit or loss by reportable segment
Reportable Segment
Amount on

VehicleB to CB to B

SocialSubscription

Subscription

Services

Operation

Other

Total

businesses

Services

Adjustments

Consolidated
Statementsof IncomeNet Sales
Oisix

62,377－－－62,377－－62,377

11,327－－－

11,327－－

11,327

Radish Boya

16,596－－－

16,596－－

16,596

Purple Carrot

9,082

－

－

－

9,082

－

－

9,082

Medical Food

－

8,076

－

－

8,076

－

－

8,076

Contract Food

－

5,065

－

－

5,065

－

－

5,065

Suku-suku Oisix

－

1,633

－

－

1,633

－

－

1,633

－

－

4,702

－

4,702

－

－

4,702

－

－

3,816

－

3,816

－

－

3,816

－

－

2,852

－

2,852

－

－

2,852

－

－

－

2,645

2,645

－

－

2,645

－

－

－

2,463

2,463

－

－

2,463

－

－

－

1,105

1,105

－

－

1,105

－

194

－

－

194

16,413－

16,60899,383

14,97011,372

6,213

131,940

16,413－

148,354

－

－

－

－

－

54

－

54

99,383

14,97011,372

6,213

131,940

16,467－

148,408

－

6

10

15

32

1,559

(1,592)－

99,383

14,976

11,383

6,229

131,972

18,027(1,592)

148,408

8,765

323

338

304

9,731

1,217

(5,804)

5,144

58,16430,234

18,32029,522

136,241

13,243(5,756)

143,728

1,879

158

51

120

2,209

89

314

2,613

281

58

57

98

495

－

－

495

－

－

－

－

－

(24)

－

(24)

－

－

－

－

－

22

－

22

11,17018,571

5,508

15,79951,049279

9451,423

Daichi wo
Mamorukai

After-school
care service
Public school
lunch service
Social service
Executive
vehiclemanagement
General vehicle
management
Passenger
transport
Other
Revenue fromContracts with
Customers
Other
Net sales toexternalcustomers
Intersegmental
net sales andtransfers
Total
Segment profit(loss)
Segment assets
Other Items
Depreciation
Amortization of
goodwill
Share of loss
(profit) ofentities
accounted forusing equity
methodInvestments inequity method
affiliates
Increase inproperty, plantand equipment
and intangible
assets14

Notes:1. The "Other businesses" segment is a business segment not included in the reported segments and includes other companies' EC
support business, mobile supermarket business, and web system development business and others.
2. The main components of segment profit in "Adjustments" are mainly general and administrative expenses that do not belong to any
business segment. The "Adjustment" of segment assets of (5,756) million yen includes (17,660) million yen in offsetting eliminationsof inter-segment receivables and 11,904 million yen in corporate assets not allocated to each reportable segment. "Depreciation"
represents the depreciation of corporate assets that do not belong to any reportable segment, and "Increase in property, plant andequipment and intangible assets" represents the increase in corporate assets that do not belong to any reportable segment.
3. Adjustments were made to reconcile segment profit to operating profit or loss presented in Consolidated Statements of Income.
4. "Other" in net sales is sales based on "Accounting Standard for Lease Transactions (ASBJ Statement No. 13).
End

15