Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes noresponsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

(Stock Exchange Code 3182)
June 7, 2022
To Shareholders with Voting Rights:
Kohey Takashima
Representative Director, CEO
Oisix ra daichi Inc.
1-11-2 Osaki, Shinagawa-ku,
Tokyo, JapanNOTICE OF
THE 25th ANNUAL GENERAL MEETING OF SHAREHOLDERS
Dear Shareholders:
We would like to express our appreciation for your continued support and patronage.
We hereby notify you of the 25th Annual General Meeting of Shareholders of Oisix ra daichi Inc. (the“Company”). The meeting will be held for the purposes as described below.
You can exercise your voting rights in writing or via the Internet. Please review the attached
Reference Documents for the General Meeting of Shareholders, and exercise your voting rights by
6:30 p.m. on Monday, June 27, 2022, Japan time.
1. Date and Time:
2. Place:

Tuesday, June 28, 2022 at 10:00 a.m. Japan time
(Doors scheduled to open at 9:30 a.m.)
Conference room at the Company’s head office located at
Gate City Osaki East 5F
1-11-2 Osaki, Shinagawa-ku, Tokyo, Japan

3. Meeting Agenda:
Matters to be reported: 1. The Business Report, Consolidated Financial Statements for the Company’s
25th Fiscal Year (April 1, 2021 - March 31, 2022) and results of audits by the
Accounting Auditor and the Board of Auditors of the Consolidated Financial
Statements
2. Non-consolidated Financial Statements for the Company’s 25th Fiscal Year
(April 1, 2021 - March 31, 2022)
Proposals to be resolved:
Partial Amendments to the Articles of Incorporation
Proposal 1:
Election of Nine (9) Directors
Proposal 2:
Election of One (1) Auditor
Proposal 3:◎ In the event of revisions to the Reference Documents for the General Meeting of Shareholders, Business Report,
Consolidated Financial Statements and Non-consolidated Financial Statements, the revisions shall be provided on the
Company’s website:(https://www.oisixradaichi.co.jp/investors/)◎ Of the documents to be provided with this Notice, the Notes to the Consolidated Financial Statements and Notes to the
Non-consolidated Financial Statements are provided on the Company’s website in accordance with the provisions of laws
and regulations as well as the Article 18 of the Company’s Articles of Incorporation and therefore are not provided in the
Appendix of this Notice.
Accordingly, the documents provided in this Notice are parts of documents audited by the Auditors and the Accounting
Auditor when preparing the Audit Report and the Accounting Auditor’s Report.
◎ Souvenirs for shareholders who attend the meeting will not be provided. We appreciate your understanding.
◎ In the event that any changes that may impact the operation of the General Meeting of Shareholders occur, notice
will be posted on the above Company’s website.

Reference Documents for the General Meeting of Shareholders
Proposals and References
Proposal 1: Partial Amendments to the Articles of Incorporation
1. Reasons for the amendments(1) The Company proposes to establish the new provisions of Article 12, Paragraph 2 to provide the optionof holding a fully virtual General Meeting of Shareholders (i.e., a General Meeting of Shareholders
attended by Directors, shareholders, and others via the Internet instead of in a physical venue). The 2021
amendments to the Act on Strengthening Industrial Competitiveness now permit fully virtual general
meetings of shareholders. Expanding the methods available by which general meetings of shareholders canbe held by permitting fully virtual general meetings of shareholders will benefit all shareholders by making
it easier for more shareholders, including those in remote locations, to attend general meetings; byenlivening, facilitating, and generally improving the efficiency of general meetings of shareholders; and byhelping to curb the spread of infectious diseases, such as COVID-19. In addition to the passage of this
proposal in the General Meeting of Shareholders, Article 12, pursuant to Ministry of Economy, Trade andIndustry ordinances and Ministry of Justice ordinances, Paragraph 2 of the Articles of Incorporation willtake effect as of the date it has been confirmed by the Minister of Economy, Trade and Industry and theMinister of Justice, pursuant to Ministry of Economy, Trade and Industry ordinances and Ministry ofJustice ordinances, that the Company holding fully virtual general meetings of shareholders meets therequirements established by Ministry of Economy, Trade and Industry ordinances and Ministry of Justiceordinances as a measure that strengthens industrial competitiveness while reflecting the interests ofshareholders.
(2) The Company proposes to delete Article 18 of the current Articles of Incorporation and to replace itwith a new Article 18 in light of the fact that the 2019 amendments to the Companies Act establish
measures for the electronic provision of reference documents and other materials for general meetings ofshareholders and require provisions in the Articles of Incorporation for providing such materials
electronically. The Company also proposes establishing the new Article 18, Paragraph 2 to make itpossible to limit the extent of items provided by electronic means included in printed documents issued toshareholders who request the issue of printed documents of information contained in the reference
documents and other materials for general meetings of shareholders. These amendments would alsoestablish additional provisions regarding the efficacy of the deleted provisions and provide for the deletionof those additional provisions after a certain period of time.
2. Details of the amendments
Details of the amendments are as follows:(Amended parts are underlined.)
Current
CHAPTER III. GENERAL MEETING OF
SHAREHOLDERS(Convocation)
Article 12. The Regular General Meeting of Shareholders
shall be convened within the period of threemonths starting on the day following the endof each business year. An extraordinary
General Meeting of Shareholders may be
convened whenever necessary.
(Newly established)(Text omitted)(Internet disclosure and imputed submission of reference
documents and other materials for the General Meetingof Shareholders)

Proposed amendment
CHAPTER III. GENERAL MEETING OF
SHAREHOLDERS(Convocation)
Article 12 The Regular General Meeting of Shareholders
shall be convened within three months of the
day following the end of each business year,
and an extraordinary General Meeting of
Shareholders may be convened whenevernecessary.
2. The Company may hold the Regular General Meetingof Shareholders as a fully virtual general meeting ofshareholders.
(Text omitted)(Deleted)

Article 18. In convening a General Meeting of
Shareholders, the Company shall be deemed
to have submitted to shareholders
information on the information to be
described or indicated in reference
documents for the General Meeting of
Shareholders, business reports, financial
statements, and consolidated financial
statements, through the disclosure of suchinformation via the Internet in accordancewith the provisions of Ministry of Justiceordinances.
(Newly established)(Newly established)(Measures for the electronic provision of information
etc.)
Article 18 When convening a General Meeting of
Shareholders, the Company will employ
measures to electronically provide
information included in the reference
documents and other materials for the General
Meeting of Shareholders.
2. The Company may omit from printed
documents issued to shareholders who haverequested printed documents by the basis
date of their voting rights some or all of theitems disclosed electronically and stipulated
in Ministry of Justice ordinances.
Additional provisions(Interim measures concerning the electronic provision ofmaterials for the General Meeting of Shareholders)
1. The deletion of Article 18 (Internet
disclosure and imputed submission ofreference documents and other materials for
the General Meeting of Shareholders) of theexisting Articles of Incorporation and new
establishment of Article 18 (Measures forthe electronic provision of information etc.)of the amended Articles of Incorporation
will take effect as of September 1, 2022.
2. Notwithstanding the provisions of thepreceding paragraph, Article 18 (Internet
disclosure and imputed submission ofreference documents and other materials for
the General Meeting of Shareholders) of theexisting Articles of Incorporation willremain in effect for all General Meetings ofShareholders held on or before the end of
February 2023.
3. These Additional Provisions will be deleted
on March 1, 2023 or on the date threemonths after the date of the General Meetingof Shareholders described in the preceding
paragraph, whichever comes later.

Proposal 2:

Election of Nine (9) Directors

The terms of office of all ten (10) Directors will expire at the conclusion of this General Meeting of
Shareholders.
Accordingly, the election of Nine (9) Directors is proposed.
The candidates for Director are as follows.
No.

Name
(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)

Number ofshares of theCompany held

Established Kohey Ltd. (currently the Company)
Representative Director
April 1998
Joined McKinsey & Company Inc. Japan
June 2000
Representative Director, CEO of the Company (current
position)
September 2010 Representative Director of Gochimaru Inc.
June 2011
Representative Director of Eastern Japan Food Association(current position)
October 2015
Director of Oisix Hong Kong Co., Ltd. (current position)
July 2016
Chairman and Representative Director of Tokushimaru Inc.
(current position)
Reelection
July 2018
Chairman of JAPAN WHEELCHAIR RUGBYFEDERATION (currently Japan Wheelchair Rugby
4,847,200
Kohey Takashima
Federation) (current position)(August 15, 1973)
December 2018 Director of Oisix Inc. (current position)
May 2019
Director of Three Limes, Inc. (current position)
October 2019
Director of WELCOME Co., Ltd. (current position)
March 2020
External Director of CARTA HOLDINGS, INC. (current
position)
April 2021
Vice Chairman of KEIZAI DOYUKAI (Japan Associationof Corporate Executives) (current position)
June 2021
Outside Director of Benesse Holdings, Inc. (scheduled toassume office)June 2021
Outside Director of Benesse Holdings, Inc. (current
position)[Reason for nomination as candidate for Director]
Since the Company was founded in 1997, he has been in charge of management of the Company and the Group as
Representative Director of the Company. He has extensive and deep insight and thoughts in management of the Company
and the Group. The Company expects that he will continue to leverage these skills for management of the Company and theGroup, and therefore renominated him as candidate for Director.
May 1997

1

June 1997
October 1999
June 2006
July 2008

2

Joined Kohey Ltd. (currently the Company)
Director of the Company
Director; Manager of EC Business Department
Director and Executive Officer; General Manager ofReelection
Business Division
April 2012
Director and Executive Officer; General Manager of EC
720,000
Business Division
Yusuke Tsutsumi
April 2017
Director and Executive Officer; General Manager of(March 22, 1978)
Alliance/Solution Division
October 2017
Director and Executive Officer; General Manager of
Solution Business Division (current position)
July 2018
Director of karabiner.inc (current position)[Reason for nomination as candidate for Director]
As one of the founding members of the Company established in 1997, he has been in charge of operation and managementof the Company and the Group. He has extensive and deep insight and thoughts in management of the Company and theGroup. The Company expects that he will continue to leverage these skills for management of the Company and the Group,and therefore renominated him as candidate for Director.

No.

Name
(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)

Number ofshares of theCompany held

April 1975
June 1996
April 2003
September 2006
October 2006
March 2007
July 2008
November 2008
June 2009

3

No.

Joined the Daiei, Inc.
General Manager of Product Planning Division
General Manager of Human Resources Division
Executive Officer
Director; In charge of East Japan GMS BusinessDirector; In charge of Sales
Joined the Company as Advisor
General Manager of General Planning Division
Reelection
Director and Executive Officer; General Manager ofGeneral Planning Division
86,000July 2015
Director and Executive Officer; General Manager ofHiroyuki Ozaki
Human Resources Planning Division, General Manager of(October 14, 1952)
Administration Division
July 2015
Corporate Auditor of Gochimaru Inc.
October 2015
Auditor of Oisix Hong Kong Co., Ltd.
April 2016
Director and Executive Officer; General Manager of
Human Resources Planning Division (currently HR
Division), the Company
October 2019
Director and Executive Officer; General Manager of HR
Division (current position)[Reason for nomination as candidate for Director]
Since joining the Company, he has utilized his experience in operation and management of the retail business, and has beenin charge of management such as engaging in corporate administration. He has extensive and deep insight and thoughts inmanagement of the Company and the Group. The Company expects that he will continue to leverage these skills for
management of the Company and the Group, and therefore renominated him as candidate for Director.

Name(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)
April 2008
July 2014

4

Number ofshares of theCompany held

Joined Oisix Inc. (currently the Company)
Executive Officer; Manager of Corporate Planning Office,General Planning Division, the Company
October 2015
Executive Officer; General Manager of Corporate Planning
Reelection
Division
February 2018
Corporate Auditor of Radish Boya Co., Ltd. (currently the
7,400
Company)
Kohei Matsumoto
June 2018
Director and Executive Officer; General Manager of(January 24, 1984)
Corporate Planning Division (current position)
August 2019
CEO of Future Food Fund Inc. (current position)
March 2021
Director of Toyoichi Co., Ltd. (current position)
January 2022
Director of Future Food Lab Co., Ltd. (current position)[Reason for nomination as candidate for Director]
Since joining the Company, he has held positions in corporate planning divisions, and has extensive and deep insight andthoughts in management of the Company and the Group. The Company expects that he will continue to leverage theseskills for management of the Company and the Group, and therefore renominated him as candidate for Director.

August 1974

5

No.

Researcher of Laboratory for Organizational Researchand Education, University of Southern California
September 1977 Lecturer of Faculty of Sociology, California State
University, Los Angeles
April
1986
Professor of SANNO University
Reelection
March 1990
Professor of Faculty of Policy Management, Keio
External
University
4,800
June 2007
External Director of the Company (current position)
Mitsuyo Hanada
April 2014
Professor Emeritus of Keio University (current position)(August 8, 1948)
April 2014
Representative Director of SFC Forum (current position)
April 2014
Representative Director of Corporate University PlatformCo., Ltd.
May 2017
Representative Director of Career Advisor Council (current
position)[Reason for nomination as candidate for External Director and outline of expected roles]
The Company renominated Mr. Mitsuyo Hanada as candidate for External Director, because he has extensive insight inoverall corporate management with a focus on personnel and organization from an academic perspective, and the Company
expects that he will provide a range of advice and opinions on management of the Company.
He will have served as External Director for 15 years at the conclusion of this General Meeting of Shareholders.

Name(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)
April 1981

6

Number ofshares of theCompany held

Joined Maebashi Shinkin Bank (currently Shinonome
Shinkin Bank)
April 1987
Established Jin Products
July 1988
Established JIN Ltd. (currently JINS HOLDINGS Inc.)
Founder & CEO (current position)
Reelection
June 2011
Representative Director of Brand New Day Inc. (currently
External
Feel Good Inc.)
June 2015
External Director of the Company (current position)
20,000
May 2018
Representative Director of JINS Japan Co., Ltd. (currently
Hitoshi Tanaka
JINS Inc.) (current position)(January 25, 1963)
December 2018 Representative Director of Think Lab. Inc. (current
position)
March 2019
External Director of BALMUDA Inc. (current position)
June 2021
Outside Director of Japan Communications Inc. (scheduled
to assume office)[Reason for nomination as candidate for External Director and outline of expected roles]
The Company renominated Mr. Hitoshi Tanaka as candidate for External Director, because he has been serving as
Representative Director of JINS HOLDINGS Inc. over many years, possesses abundant experience and extensive insight asa corporate manager, and the Company expects that he will supervise management of the Company and provide advice andopinions on overall management of the Company.
He will have served as External Director for 7 years at the conclusion of this General Meeting of Shareholders.

No.

Name
(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)

Number ofshares of theCompany held

April 2000
May 2002
October 2004
April 2014
April 20197

No.

Joined Dai Nippon Printing Co., Ltd.
Joined Impression Co., Ltd.
Joined Recruit Co., Ltd.
Executive Officer of Recruit Lifestyle Co., Ltd.
Director of Cross-divisional CRM Promotion Office,Reelection
Recruit Holdings Co., Ltd.
External
June 2019
External Director of the Company (current position)0
April 2020
Manager of ID Point Product Service Development
Junko Watabe
Department, Recruit Co., Ltd. (current position)(June 27, 1977)
Manager of Cross-divisional CRM Department (current
position)
August 2020
Manager of Quality Coordinate Office (current position)
October 2020
Outside Director of Loyalty Marketing, Inc. (current
position)[Reason for nomination as candidate for External Director and outline of expected roles]
The Company renominated Ms. Junko Watabe as candidate for External Director, because she has extensive insight inmanagement regarding customer management with digital technology, accumulated through her career in Recruit Group,and the Company expects that she will provide a range of advice and opinions on management of the Company.
She will have served as External Director for 3 years at the conclusion of this General Meeting of Shareholders.

Name(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)January 2002

8

Number ofshares of theCompany held

Joined Jenne Co., Ltd. (currently ABC Cooking StudioCo., Ltd.)
October 2012
General Manager of Studio Strategy Division
April 2013
Executive Vice President
July 2013
President and Representative Director
December 2014 Outside Director of DEF ANNIVERSARY Co., Ltd.
(current position)
July 2015
President and Representative Director of ABC Cooking
Reelection
Studio KOREA Co., Ltd.
External
January 2017Manager in charge of Alliance, Partner Business Planning0
Department, NTT DOCOMO, INC. (current position)
Wakako Sakurai
June 2018
External Director of the Company (current position)(May 1, 1973)
December 2018 Outside Director of Toreta, Inc.
February 2019 Outside Director of AI CROSS Inc.
February 2020 Director of AI CROSS Inc. (current position)
January 2021
President and Representative Director of Plus W, Inc.
(current position)
June 2022
Executive Director/Manager in charge of Alliance, Partner
Business Planning Department, NTT DOCOMO, INC.
(current position)[Reason for nomination as candidate for External Director and outline of expected roles]
The Company renominated Ms. Wakako Sakurai as candidate for External Director, because she has many years ofexperience in ABC Cooking Studio Co., Ltd., possesses abundant insight regarding contents business accumulated in her
current position, and the Company expects that she will provide a range of advice and opinions on management of theCompany.
She will have served as External Director for 4 years at the conclusion of this General Meeting of Shareholders.

No.

Name
(Date of birth)

Past experience, positions and responsibility in the Company(Significant concurrent positions)

Number ofshares of theCompany held

Involved in launching a new apparel brand “Joias” andconcurrently served as press designer
April 2009Engaged in numerous main projects as fashion editor for
the women’s fashion magazine “CanCam”
June 2011
Established own brand of wedding dress “heureux deMisato Kowaki.” Since then, worked as a stylist for
popular artists, celebrities and actresses, and became in
New election
charge of publishing books and photo books about them, in
addition to working as editor of “CanCam”
External
September 2015 Developed “Monotone Storage” in Seven & i Group0
September 2016 Launched a project of Sanrio for women “TOKYO
Misato Kowaki
OTONA KITTY” and appointed as Advisor(October 23, 1983)
May 2020
Received the Best Mother Award in Economic Category
August 2020
Appointed as Advisor, Female Empowerment Advisor of
Sabae City
October 2020
Established “MOTHERS Lab,” a web media operated by
active mothers proposing a new era of lifestyle, andappointed as Chief Editor(to present)[Reason for nomination as candidate for External Director and outline of expected roles]
Ms. Misato Kowaki, as a free-lancer, has been engaged in various planning, consulting, book publishing, etc. relating tolifestyle including food, clothing and housing. Her activities are based on a perspective from consumers. The Company
expects that based on her experience and knowledge she will provide useful advice from this perspective to the Company
which pursues the creation of new business value in the food area.
Although she has not been involved in corporate management other than having served as an external director or external
auditor, the Company judged that she is capable of executing her duties appropriately as an External Director for the above
reasons.
She will have served as External Director for 1 years at the conclusion of this General Meeting of Shareholders
April 2006

9(Notes)
1. Mr. Kohey Takashima is Representative Director of Eastern Japan Food Association as well as Chairman of Japan
Wheelchair Rugby Federation. The Company has a business relationship involving service rendering, etc. with each of theseorganizations.
2. There are no special interests between other candidates and the Company.
3. Mr. Mitsuyo Hanada, Mr. Hitoshi Tanaka, Ms. Junko Watabe, Ms. Wakako Sakurai and Ms. Misato Kowaki are candidates
for External Director.
4. To ensure that Directors (excluding those who are Executive Directors, etc.) can fully perform their expected roles in thecourse of their duties, the Company has provided in Article 29 of the Articles of Incorporation that it may enter into a limited
liability agreement that limits the maximum amount of liability as provided in Article 423, Paragraph 1 of the Companies
Act, to the amount stipulated by laws and regulations in accordance with Article 427, Paragraph 1 of the same Act. The
Company has entered into such agreement with Mr. Mitsuyo Hanada, Mr. Hitoshi Tanaka, Ms. Junko Watabe and Ms.
Wakako Sakurai. If reelection of each of said candidates are approved and Ms. Misato Kowaki is elected, the Company plans
to maintain such agreement with them.
5. The Company has entered into a directors and officers liability insurance agreement, which outlines the following contents
to secure excellent human resources and to prevent contraction in the execution of duties, and plans to renew the agreementin October 2022. The candidates for Director who are being proposed for election under this proposal will be insured under
the insurance agreement after their election.
[Overview of the insurance](1) Ratio of premiums to be actually borne by the insured
The premiums, including the portion for riders, will be borne by the Company. There are no actual premiums to be borne by
the insured.
(2) Overview of the insurance accidents covered
The insurance, including riders, covers damage that may be incurred by the insured directors and officers as a result of
assuming responsibilities relating to the execution of duties or receiving claims relating to the pursuit of such
responsibilities. However, there are certain exemptions such as in cases where violation of laws and regulations wereknowingly committed.
6. If the reelection of Mr. Mitsuyo Hanada, Mr. Hitoshi Tanaka, Ms. Junko Watabe, Ms. Wakako Sakurai, and Ms. Misato
Kowaki is approved, the Company plans to report to the Tokyo Stock Exchange that they will serve as independent officers.
7. At its May 26, 2022 meeting, the Company Board of Directors resolved to establish a Nomination and Remuneration
Committee as an advisory body to the Board of Directors. By reorganizing the existing Remuneration Advisory Committee,

this measure will improve the oversight functions of the Board of Directors and enhance corporate governance by drawing
on the discernment of and recommendations from Outside Directors and ensuring objectivity and transparency in procedures
related to decisions on matters such as Director nomination and remuneration. If this proposal is approved, plans call for the
Nomination and Remuneration Committee to be composed as follows:
Chairperson: Mitsuyo Hanada (Independent Outside Director)
Members: Hitoshi Tanaka (Independent Outside Director)
Kohey Takashima (Representative Director)(Three members in total)
8. The number of the Company’s shares held by the above candidates for Director is the number of shares held as of March
31, 2022.

Proposal 3: Election of One (1) Auditor
The election of one (1) more Auditor is proposed to strengthen and enhance the auditing structure.
The Board of Auditors has given prior approval to this proposal.
The candidate for Auditor is as follows:
Name(Date of birth)

New election
External
Independent
Kumi Kobayashi(November 2, 1979)

Past experience and positions in the Company(Significant concurrent positions)
October 2002
Passed second examination for certified public
accountants (registered as an assistant certified
public accountant)
October 2002
Joined ShinNihon LLC (now AZSA LLC)
March 2006
Passed third examination for certified public
accountants (registered as a certified public
accountant)
September 2006 Joined GCA Corporation (now Houlihan Lokey,
Inc.)
March 2016

Number of shares of theCompany held

0

Partner, Sakurai & Kobayashi Accountancy Office(current position)
April 2017
Representative Director, Tokyo Athletes Office,Inc. (current position)
June 2019
Director, SPOKACHI Co., Ltd. (current position)[Reason for nomination as candidate for External Auditor]
Ms. Kumi Kobayashi brings a wealth of experience and discernment as a certified public accountant. She possesses not justhighly specialized knowledge as a CPA, but has also been involved in a diverse range of businesses through mergers andacquisitions, investment, and finance. Based on these experiences and insights, the Company expects her to provide useful advice
on governance as the Company continues to pursue the creation of new business value. On this basis, it has newly nominated her
as a candidate for External Auditor.
(Notes)
1. She is a new candidate for External Auditor.
2. There are no special interests between the candidate for Auditor and the Company.
3. To ensure that Auditors can fully perform their expected roles in the course of their duties, the Company has provided in
Article 39 of the Articles of Incorporation that it may enter into a limited liability agreement that limits the maximum
amount of liability as provided in Article 423, Paragraph 1 of the Companies Act, to the amount stipulated by laws andregulations in accordance with Article 427, Paragraph 1 of the same Act. The Company has entered into such agreement with
Mr. Yukihiro Moroe and Mr. Takashi Okubo. If Ms. Chika Otobe is elected, the Company plans to enter into such agreementwith her.
4. The Company has entered into a directors and officers liability insurance agreement, which outlines the following contents
to ensure that Auditors can fully perform their expected roles in the course of their duties, and plans to renew such agreementin October 2022. The candidate for Auditor who is being proposed for election under this proposal will be insured under the
insurance agreement after her election.
[Overview of the insurance](1) Ratio of premiums to be actually borne by the insured
The premiums, including the portion for riders, will be borne by the Company. There are no actual premiums to be borne by
the insured.
(2) Overview of the insurance accidents covered
The insurance, including riders, covers damage that may be incurred by the insured directors and officers as a result of
assuming responsibilities relating to the execution of duties or receiving claims relating to the pursuit of such
responsibilities. However, there are certain exemptions such as in cases where violation of laws and regulations wereknowingly committed.
5. If Ms. Kumi Kobayashi is elected, the Company plans to report to the Tokyo Stock Exchange that she will be an
independent officer stipulated under the regulations of the Exchange.
6. The number of the Company’s shares held by the above candidate for Auditor is the number of shares held as of March 31,2022.

Reference: Officer skills matrix

Director/Auditor skills matrix
Up to three major skills are identified for each officer below.
◎: Chairperson 〇:Observer
Directors

Externality

HitoshiTanaka●Independent officer●●

Properties◎●

Nomination andRemuneration
Committee●

Hiroyuki
Ozaki

Kohei
Matsumoto〇●

WakakoSakurai●

MisatoKowaki●●●●Junko Watabe●

Yukihiro
Moroe●

Takashi
Okubo
●

Kumi
Kobayashi
●

●

＊

●

●

Chika Otobe

Age

48

42

69

36

73

59

44

48

38

56

66

48

48

Gender

Male

Male

Male

Male

Male

Male

FemaleFemaleFemaleFemaleMale

Male

FemaleRetail business
operation,
generalmanagement
supervision

Specifics,
management
planningsupervisionMarketingbusinessmanagement

Independent
marketingbusiness

Management
consulting

Investment
businessmanagement

Attorney

Certified public
accountant

13

4

4

1

1

13

2

0

Duties, properties,
qualifications, etc.

Founding teamFounder,member, general
representative,
business
President
supervision

Term of office

22

Corporate management●

Business operation●

Sales, marketing,product planning
Specialization,
experience,
knowledge

YusukeTsutsumi

Auditors

MitsuyoHanada
●

Name

Kohey
Takashima

ESG, sustainability●

22

University
Information
professor
Management ofmanagement/di(organization,a publicly
gital business
human
traded company
management
resources)

15

7

3

●
●

●

●

●

●

Governance,compliance●●

Financial accounting,investment, markets
Organization, HR
Diversity ** Public, consumers, producers, academics, athletics

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●
●

●

●

●

●
●

●
●

●

●

●

●
●

●

Business Overview(i) Overview of Results for the Fiscal Year under Review
The economic impact of COVID-19 on Japan’s economy was significant during the previous fiscal year
and remained so during the consolidated fiscal year under review. However, as of H2 of the fiscal year, due
to the improvements in the rate of vaccination and other factors, dining out and other leisure activities
gradually returned, coinciding with a change in consumer trends and consumption. In addition to lifestylechanges such as remote work becoming a mainstay, the speed of the e-commerce market expansion isaccelerating, and consumer demand for food delivery continues to be bullish.
In such an environment, Oisix ra daichi, as a food infrastructure company, has worked to ensure stable
shipment capacity and product supply chain. In addition, we proposed products and services in line with
consumers' new needs, such as their "heightened awareness of general and immune health" and the"increased frequency and number of meals at home", which has influenced dramatic changes to the way
our customers eat at home. In accordance, we have prioritized responding to changes in our customers’
lifestyles.
In addition, to achieve our goal of "strengthening the growth and profitability of the domestic (Japanese)
home delivery business," which is an important key in our management strategy, we (1) evolved ourcustomer experience, (2) worked on low-cost operations, and (3) increased our efforts to reduce food loss
and greenhouse gases to become a more sustainable retailer.
As a result,
Net sales ：113,476mn yen (YoY +13.4%)
Operating income ： 4,171mn yen (YoY △44.1%)
EBITDA ： 6,216mn yen (YoY △30.2%)
Net income Attributable to owners of the parent： 2,727mn yen (YoY △45.8%)
1)Home Delivery Business (Oisix)
Oisix primarily conducts direct-to-consumer sales of foodstuffs via e-commerce and has a customer focus
on dual-income, child-raising generations. Oisix provides products and services that realize premiumbased time savings.
Compared to the initial forecast, both sales and segment income were steadily increasing in terms ofmembership and ARPU. However, due to complications related to the relocation to the new distribution
center that occurred during Q4, both sales and profits experienced a loss of 1- 1.5 billion yen. Yet, thenumber of subscribers increased from 308,899 at the end of the previous fiscal year (end of Mar. 2021) to
346,083 at the end of the current fiscal year (end of Mar. 2022), an increase of approximately 37 thousand.
As a result of these factors, the business results for the fiscal year under review were as follows.
Net sales ：58,546mn yen (YoY +17.4%)
Segment profit ：7,036mn yen (YoY △21.7%)
2)Home Delivery Business (Daichi wo Mamoru kai)
Daichi wo Mamoru kai, which predominately sells foodstuffs directly through catalogs as well as ecommerce, focuses on seniors' 2-person household consumer segment.
We are developing and refining new services in accordance with the customer segment’s needs, based on
the concept of "easy and healthy dietary lifestyles."In the current fiscal year, we are taking on the challenge of acquiring new customers using the "Maru
Gohan", (meal planning course), which makes it easy for senior households to realize their health goals.
The number of subscribers increased slightly from 45,307 at the end of the previous fiscal year (end of
Mar. 2021) to 45,534 at the end of the current fiscal year (end of Mar. 2022).
Daichi wo Mamoru kai experienced normalization of sales and segment income as compared to theprevious fiscal year, which was marked by an irregular increase relating to Covid-19.
In counterbalance, ARPU progressed steadily compared to assumptions made in the initial forecast due tomeasures such as strengthening the development of products and services.
As a result of these factors, the business results for the fiscal year under review were as follows.
Net sales ：13,240mn yen (YoY △5.3%)
Segment profit ：2,270mn yen (YoY △5.5%)

3)Home Delivery Business (Radish Boya)
Radish Boya, which mainly sells foodstuffs directly through catalogs and e-commerce, offers products tohouseholds who desire to contribute to society through cooking. As such we are developing products andservices such as “Fuzoroi Radish, (Irregular Radish).
The number of subscribers increased from 62,751 at the end of the previous fiscal year (end of Mar. 2021)
to 65,093 at the end of the current fiscal year (end of Mar. 2022) as new acquisitions were strong,particularly in H1.
Compared to the exceptional increase due to the impact of COVID-19 in the previous fiscal year, sales andsegment income decreased, although ARPU progressed steadily compared to the assumptions made in theinitial forecast due to measures including strengthening the development of products and services.
As a result of these factors, the business results for the fiscal year under review were as follows.
Net sales ：17,432mn yen (YoY △1.5%)
Segment profit ：2,429mn yen (YoY △19.7%)
4)
Home Delivery Business (Purple Carrot)
The U.S. Purple Carrot home delivery business specializes in the sales of plant-based meal kits. During thecurrent fiscal year, in correspondence to the easing of COVID-19 related restrictions in the U. S. and theresumption of economic activity, consumer purchasing has returned to physical retail stores, as reflected bya decrease in subscribers compared to the end of the previous fiscal year.
However, compared to the initial forecast the reduction was limited, and both net sales and segment
income increased from the previous fiscal year.
As a result of these factors, the business results for the fiscal year under review were as follows.
Net sales ：10,208mn yen (YoY +17.3%)
Segment profit ：387mn yen (YoY +53.4%)
5)
Other businesses
The Other Business segment is comprised of the Solutions Business, Store Business, International
Business (excluding Purple Carrot), and Wholesale Business.
The Solutions Business including e-commerce support for other companies (ISETAN DOOR and D-MealKits) is performing well.
In addition, the performance of the wholesale business of “SinS”, shop-in-shop, and nursery school
wholesale, which were negatively affected by COVID-19 in the previous fiscal year, recovered andflourished. As a result, both net sales and segment income increased significantly overall.
As a result of these factors, the business results for the fiscal year under review were as follows.
Net sales ：14,578mn yen (YoY +42.6%)
Segment profit ：1,416mn yen (YoY △3.9%)(ii) Status of capital investment
During this consolidated fiscal year, the Company made total capital investments of 2,873 million yen,mainly on the construction of the new ORD Ebina Station and improvements to the sales administration
system.
(iii) Status of fundraising
During this consolidated fiscal year, the Company raised a total of 2 million yen in funds through issue ofshares through exercise of stock options.
(iv) Status of corporate reorganization
On January 28, 2022, the Company established Future Food Lab Co., Ltd. as a wholly owned subsidiary.

(2) Status of assets and profit/loss in the three most recent business years(i) Group assets and profit/loss
Category

FY No. 22 (ended

FY No. 23 (ended

FY No. 24 (ended

March 2019)

March 2020)

March 2021)

FY No. 25 (ended
March 2022)(current consolidated
fiscal year)

Net sales (million yen)

64,026

71,040100,061

113,476

Ordinary income (million yen)

2,301

1,825

7,037

4,153

Net income attributable to owners of

2,387

790

5,031

2,727

Net income per share (yen)

71.38

23.19

133.7574.64

Total assets (million yen)

22,74926,08738,36052,634the parent (million yen)

Note: The Company implemented a two-for-one stock split on common stock effective October 1, 2019. Net income pershare above assumes a stock split implemented at the start of FY No. 22.

(ii) Company assets and profit/loss
Category

FY No. 22 (ended

FY No. 23 (ended

FY No. 24 (ended

March 2019)

March 2020)

March 2021)

FY No. 25 (ended
March 2022)(current consolidated
fiscal year)

Net sales (million yen)

53,06568,01890,349101,541

Ordinary income (million yen)

1,896

2,975

7,397

4,036

Net income attributable to owners of

2,236

1,164

4,563

2,544

Net income per share (yen)

66.85

34.17

121.33

69.64

Total assets (million yen)

22,60424,98735,35048,624the parent (million yen)

Note: The Company implemented a two-for-one stock split on common stock effective October 1, 2019. The net income pershare given above assumes a stock split implemented at the start of FY No. 22.
(3) Status of important parent companies and subsidiaries(i) Status of parent companies
Not applicable(ii) Status of important subsidiaries
Company name

Capital or investment

Voting rights

Main lines of businessheld/investment ratio
Fruit Basket Co., Ltd.

20 million yen

100.0％

Processing, productdevelopment, and sale offruits, vegetables, and otheragricultural produce

Tokushimaru Co., Ltd.

10 million yen

90.0％

Development ofsupermarket partners for themobile supermarket
business, provision ofexpertise to sales partners

Oisix Hong Kong Co., Ltd.

HKD40 million

100.0％

Handles the Company's
local businesses in Hong
Kong under contract

Oisix Shanghai Co., Ltd.

RMB24 million

100.0％

Food delivery business in
China

Karabiner. Inc

25 million yen（100.0％）

System development andmaintenanceCrazy Kitchen Co., Ltd.

5 million yen

70.0％

Event production, catering
services

Oisix Inc.

USD27 million

100.0％

Investment

Three Limes, Inc. (TheUSD16 million

100.0％

Vegan ingredients delivery

Purple Carrot)

in the U.S.

Future Food Fund Co., Ltd.

15 million yen

Future Food Fund No. 1

2,000 million yen

100.0％（100.0％）Investment management
Investment

investment limited
partnershipToyosu Gyosho Sanchoku

40 million yen

100.0％

IchibaFuture Food Lab Co., Ltd.

Purchase and wholesalingof seafood products

5 million yen

10.0％

Food-related R&D,
manufacturing, and sales

Notes: 1. Figures in parentheses under voting rights held/investment ratio indicate voting rights held by or investment ratioof the Company subsidiary etc.
2. Future Food Lab Co., Ltd. has been included in the scope of consolidation beginning this consolidated fiscal year.

(4) Issues to be addressed
Issues to be addressed recognized as priorities by the Company are outlined below.
(i) Strengthening the value proposition for customers’ food needs
With both spouses working in growing numbers of households, rapidly diversifying lifestyles and values,
and growing health awareness and orientation toward socially meaningful consumption, demand has
emerged for time-saving food preparation measures. Companies must now identify potential needs andrapidly deploy products and services that meet diversified social issues of consumers, with a focus on
food-related services and products.
We recognize the emerging need to enhance the proposal of new food-related value based on uniqueproducts and experiences consumers can obtain only through our services.
(ii) Enhancing initiatives to realize a sustainable food future
Given current conditions and food-related social issues, including growth in global greenhouse gas
emissions, reduced crop production efficiency due to climate change, and increasing volumes of foodwaste, we see a need for solutions based on food tech and other technologies to achieve a sustainable foodsupply.
Based on our data analysis conducted in-house, we propose innovative subscription boxes tailored to meet
specific customer product needs based on daily variations in farm harvest conditions. This will help
minimize food losses both at farms and on the table. We are currently seeking to make this data even more
precise and effective.
Additionally, through our subsidiary Future Food Fund, we invest in startups providing unique agritech
expertise. We’re striving to improve the management and production efficiency of domestic agriculture,including the efficiency of our own suppliers and producers. Our Kit Oisix meal kits reduce food loss bothat farms and on the table based on nonstandard produce for cut vegetables and using only the ingredients
necessary.
Through continuing business model refinements and application of food tech, we will enhance our efforts
to achieve a sustainable food future.