FY2022/3 2Q Financial Results

		November 11, 2021
	Consolidated Financial Results
	for the Six months Ended September 30, 2021
	[Japanese GAAP]
Company name:	Oisix ra daichi Inc.	Stock exchange listings: TSE
Securities code:	3182	URL: http://www.oisixradaichi.co.jp
Representative:	Kohey Takashima, Representative Director, CEO
Contact:	Kohei Matsumoto, Director, Corporate Planning Division General Manager
Scheduled date of filing of Quarterly Report:	November 12, 2021
Scheduled date of payment of dividend:	-
Preparation of supplementary materials for financial results:	Yes
Holding of quarterly financial results meeting:	Yes

(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for Six Months ended September 30, 2021 (from April 1, 2021 to September 30, 2021)

(1) Consolidated Operating Results						(% of change from previous year)
										Net Income
	Six months ended	Net Sales		Operating Income	EBITDA*1		Attributable to Owners
										of the Parent*3
		Million yen		%	Million yen	%	Million yen		%	Million yen	%
	September 30, 2021	56,167		18.1	3,347	△15.8	4,188		△10.5	2,156	△12.1
	September 30, 2020 *2	47,566		46.1	3,976	341.5	4,678		246.8	2,452	528.2

Comprehensive income: 2nd Quarter of FY2021 (As of September 30, 2021)	2,312 million yen (△2.8%)
2nd Quarter of FY2020 (As of September 30, 2020)	2,379 million yen (669.4%)
(Note)
*1. EBITDA stands for earnings before depreciation and amortisation.

*2. Operating income for the 1H of the previous fiscal year under review has increased exceptionally. This is because the rapid increase in demand for home delivery accompanying the spread of COVID-19 has caused excess shipping capacity for Oisix brands, and we temporarily suspended the acquisition of new customers, prioritizing existing subscribers, resulting in promotional expenses decrease significantly.

Six months ended	Net Income per	Diluted Net
Share	Income per Share
	Yen	Yen
September 30, 2021	59.00	58.97
September 30, 2020	65.00	64.84

(2) Consolidated Financial Position

Period ended	Total Assets	Net Assets	Shareholders'
Equity Ratio
	Million yen	Million yen	%
September 30, 2021	51,695	22,309	41.5
March 31, 2021	38,360	19,991	49.8

2. Dividends

Fiscal Year ended or ending						Dividend per Share
	1Q			2Q		3Q		Year-end		Total
			Yen		Yen		Yen		Yen		Yen
March 31,2021			―	0.00		―		0.00	0.00
March 31,2022			―
March 31,2022 (Forecast)				0.00		―		0.00	0.00

(Note)

Revisions to the most recently announced forecast: None

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3. Forecast for the Fiscal Year Ending March 31, 2022 (from April 1, 2021 to March 31, 2022)

(Percentages represent year-on-year changes)

	Net Sales		Operating Income	EBITDA	Net Income		Net Income
			per Share
	Million yen		%	Million yen	%	Million yen	%	Million yen		%	Yen
Full year	105,000		4.9	5,000	△33.0	6,500	△27.0	3,000		△40.4	82.13

(Note)

*1.Revisions to the most recently announced forecast: None

• Notes

1. Changes of important subsidiaries during the period

(Changes of specific subsidiaries in accordance with changes in the scope of consolidation):None

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

financial statements:	None
(3) Changes in accounting policies and accounting estimates, and restatements
1)	Changes in accounting policies due to revisions in accounting standards:	Yes
2)	Changes in accounting policies other than 1) above:	None
3)	Changes in accounting estimates:	None
4)	Restatements:	None

1. Number of shares issued (common shares)
2. 1. Number of shares issued (including treasury stock):

		As of September 30, 2021	38,014,492shares
		As of March 31, 2021	37,998,908shares
2)	Number of treasury stocks:
		As of September 30, 2021	1,469,712shares
		As of March 31, 2021	1,469,655shares
3)	Number of average shares during the period:
		Six months ended September 30, 2021	36,540,492shares
		Six months ended September 30, 2020	37,734,575shares

• This financial report is outside the scope of the audit by certified public accountants or auditing firms.
• Explanation of the proper use of forecast and other notes
  The forward-looking statements herein are based on information available to the Company and certain assumptions deemed reasonable as of the date of publication of this document. They are not intended as the Company's commitment to achieve such forecasts, and actual results may differ significantly from these forecasts due to a wide range of factors.

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Consolidated Financial Statements

(1) Consolidated Balance Sheet

				(Millions of yen)
			As of March 31, 2021	As of September 30, 2021
	Assets
	Current assets
	Cash and deposits		15,580	13,358
	Accounts receivable - trade	8,485	9,048
	Merchandise and finished goods		1,730	1,786
	Work in process	85	106
	Raw materials and supplies		422	511
	Accounts receivable - other	2,789	3,124
	Other		413	602
	Allowance for doubtful accounts		△205	△216
	Total current assets		29,302	28,320
	Non-current assets
	Property, plant and equipment
	Leased assets	500	13,268
	Accumulated depreciation		△457	△576
	Leased assets, net	43	12,691
	Other		2,191	3,412
	Total property, plant and equipment		2,234	16,104
	Intangible assets
	Goodwill		1,698	1,497
	Other		2,064	2,200
	Total intangible assets		3,763	3,698
	Investments and other assets		3,060	3,572
	Total non-current assets		9,058	23,375
	Total assets		38,360	51,695

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			(Millions of yen)
		As of March 31, 2021	As of September 30, 2021
Liabilities
Current liabilities
Accounts payable - trade		6,173	6,601
Short-term borrowings	1,040	1,000
Current portion of long-term borrowings		9	147
Lease obligations	25	532
Accounts payable - other		6,178	5,691
Income taxes payable	2,292	931
Provision for bonuses		－	1
Provision for point card certificates	279	60
Other		1,541	1,413
Total current liabilities		17,540	16,379
Non-current liabilities
Long-term borrowings	245	129
Lease obligations		30	12,298
Provision for retirement benefits for directors (and	6	7
other officers)
Asset retirement obligations		325	343
Deferred tax liabilities	13	22
Other		206	204
Total non-current liabilities		828	13,006
Total liabilities		18,369	29,386
Net assets
Shareholders' equity
Share capital	3,993	3,994
Capital surplus		8,014	8,015
Retained earnings	11,718	13,876
Treasury shares		△4,502	△4,503
Total shareholders' equity		19,223	21,383
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	25	27
Foreign currency translation adjustment		△158	35
Total accumulated other comprehensive income		△133	62
Non-controlling interests		900	863
Total net assets		19,991	22,309
Total liabilities and net assets	38,360	51,695

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(2) Consolidated Statement of Income

				(Millions of yen)
			Six months ended	Six months ended
			September 30, 2020	September 30, 2021
	Net sales		47,566	56,167
	Cost of sales	23,587	28,599
	Gross profit		23,979	27,568
	Selling, general and administrative expenses		20,003	24,221
	Operating profit		3,976	3,347
	Non-operating income
	Interest income		0	0
	Dividend income	0	0
	Compensation income		7	8
	Subsidy income		－	13
	Material recycling revenue		3	3
	Recoveries of written off receivables	7	12
	Other		14	12
	Total non-operating income		32	50
	Non-operating expenses
	Interest expenses	9	20
	Share issuance costs		17	－
	Foreign exchange losses	12	8
	Share of loss of entities accounted for using equity		282	92
	method
	Other	5	3
	Total non-operating expenses		327	125
	Ordinary profit		3,681	3,272
	Profit before income taxes		3,681	3,272
	Income taxes - current		1,238	1,014
	Income taxes - deferred		1	141
	Total income taxes		1,239	1,155
	Profit		2,441	2,117
	Loss attributable to non-controlling interests		△10	△38
	Profit attributable to owners of parent		2,452	2,156

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