FY2021/3 1Q Results Explanatory Materials
Oisix ra daichi 2020.8.14
Table of Contents
- FY2021/3 1Q Achievements
- Our Current Situation and Response to COVID-19
- Results on Business segment
- New Business Topics
- Profits outlook after FY2021/3 2Q
- ESG Topics
- APPENDIX・DATA SHEET
1
1. FY2021/3 1Q Achievements
Special factor in comparison with the 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 subsidiary in Apr.2019. Recognition of sales, profits/losses and goodwill began in FY2020/3 3Q.
- Full-yearrecognition in consolidated reports this fiscal year versus half-year (3Q/4Q) last year.
Fiscal Year | Consolidated | ||||||||||||||
1Q | 2Q | 3Q | 4Q | ||||||||||||
period | |||||||||||||||
Previous | From FY2020/3 3Q | ||||||||||||||
half-year | Start of consolidation | ||||||||||||||
fiscal year | |||||||||||||||
(3Q/4Q) | |||||||||||||||
(FY2020/3) | |||||||||||||||
This fiscal year | Full-year | ||||||||||||||
(FY2021/3) | |||||||||||||||
*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-month suspension of new customer acquisitions. Since May, however, acquisitions have gradually been resumed.
- Daichi and Radish Boya have seen subscriptions rise reflecting both an organic increase in customer inquiries as well as inquiries being redirected to 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 to increased profits due to increased sales
- Also, due to the tight capacity of Oisix, we stopped new acquisition for about 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 | 23.13bn yen |
vsTarget +19% |
YoY +42%
2.07bn yen | |
Operating | |
vsTarget +76% | |
Income | |
YoY +282% | |
EBITDA
Net
income
Attributable to owners of the parent
2.41bn yen
vsTarget +60%
YoY +222%
1.18bn yen
YoY +338%
5
Consolidated Results Overview
Sales and profit both increased YoY. For profits, in addition to the impact of COVID-19, Oisix's new sales promotion expenses have not yet been used. Temporarily greatly exceeded the forecast.
Sales
23.13bn yen
vs Target +19% | |||
YoY | +42% | ||
23.13 | |||
16.26 | |||
15.25 | |||
9.60 | |||
FY | FY | FY | FY |
2018/3 | 2019/3 | 2020/3 | 2021/3 |
1Q | 1Q | 1Q | 1Q |
EBITDA
2.41bn yen
vs Target | +60% | ||
YoY | +222% | ||
2.41 | |||
0.73 | 0.75 | ||
0.32 | |||
FY | FY | FY | FY |
2018/3 | 2019/3 | 2020/3 | 2021/3 |
1Q | 1Q | 1Q | 1Q |
Operating Income
2.07bn yen
vs Target +76%
YoY +282%
2.07 | |||
0.54 | 0.54 | ||
0.14 | |||
FY | FY | FY | FY |
2018/3 | 2019/3 | 2020/3 | 2021/3 |
1Q | 1Q | 1Q | 1Q |
*For the purposes of like-for-like vs Target comparisons, one extra month of Radish 6 Boya data (March 2018) was deducted from FY 3/2019 data.
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
0.4
About
16.26 4.9
1 Sales increase: 3 home delivery brands
- Sales increase
About | 23.13 | (3 home delivery brands) | ||||||
: about4.9bn yen | ||||||||
1.6 | ||||||||
19.50 | ・Increase in ARPU | :about3.7bn yen | ||||||
・ Increase in subsribers | :about1.2bn yen | |||||||
3 Purple | ||||||||
Carrot | 2 Sales increase: Other | |||||||
Consolida | ||||||||
tion | :about0.4bn yen | |||||||
:about0.5bn yen | ||||||||
・EC support/Hong Kong | ||||||||
・Kindergarten wholesale :about▲0.1bn yen | ||||||||
Etc., |
- Purple Carrot Consolidation :about1.6bn yen
FY2020/3 | FY2021/3 | Forecast | |
1Q | 1Q |
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.
EBITDA(bn yen) | 1 | Profits increase: | ||||||||||||||||||||||||||||||||
3 Profits | About | (3 home delivery brands) | ||||||||||||||||||||||||||||||||
About | :about1.25bn yen | |||||||||||||||||||||||||||||||||
increase | 0.05 | 0.1 | ||||||||||||||||||||||||||||||||
5 | ・Increase in ARPU | :about0.95bn yen | ||||||||||||||||||||||||||||||||
:Other | About | 2.41 | ||||||||||||||||||||||||||||||||
0.4 | ・ Increase in subsribers:about0.3bn yen | |||||||||||||||||||||||||||||||||
Profits increase: | ||||||||||||||||||||||||||||||||||
1 | About | 4 | 2 | Oisix New promotional | ||||||||||||||||||||||||||||||
3 home delivery | Purple | |||||||||||||||||||||||||||||||||
brands | 6.5 | Carrot | 5 | expenses unused:about0.65bn yen | ||||||||||||||||||||||||||||||
Consolidat | fixed | 3 | Profits increase(Other) | |||||||||||||||||||||||||||||||
ion | ||||||||||||||||||||||||||||||||||
costs | ||||||||||||||||||||||||||||||||||
increase | :about0.05bn yen | |||||||||||||||||||||||||||||||||
2 Oisix New | 1.50 | :about0.05bn yen | ||||||||||||||||||||||||||||||||
・EC support/Hong Kong | ||||||||||||||||||||||||||||||||||
About | promotional | ・Kindergarten wholesale | :±0bn yen | |||||||||||||||||||||||||||||||
1.25 | expenses | Etc., | ||||||||||||||||||||||||||||||||
unused | 4 | Purple Carrot Consolidation | ||||||||||||||||||||||||||||||||
0.75 | :about0.1bn yen | |||||||||||||||||||||||||||||||||
5 | Companywide fixed costs | |||||||||||||||||||||||||||||||||
increase:about0.4bn yen | ||||||||||||||||||||||||||||||||||
・Costs for COVID-19 | :about0.05bn yen | |||||||||||||||||||||||||||||||||
・Costs for Listing | :about0.25bn yen | |||||||||||||||||||||||||||||||||
to First Section of the TSE | ||||||||||||||||||||||||||||||||||
FY2020/3 | FY2021/3 Forecast | |||||||||||||||||||||||||||||||||
・Personnel expenses, etc. :about0.1bn yen | ||||||||||||||||||||||||||||||||||
1Q | 1Q | |||||||||||||||||||||||||||||||||
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-endand 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 the shipping capacity
Shipment | Overcapacity due to | ||||||||
rapid demand | |||||||||
expansion due to | |||||||||
quantity | COVID-19 | ||||||||
Demand | ~ | ||||||||
Maximum shipping capacity | |||||||||
Mar. 2020 | Oct.2021 |
- Suspension of new subscribers acquisitions
・・Give priority to delivering products to existing subscribers and suspension of new subscribers acquisition during 1-month.
3月 | 4月 | 5月 | 6月 | 7月 | |
Over | Resuming | ||||
capacity | Stop | ||||
new acquisitions | |||||
acquiring | |||||
new | in stages | ||||
subscribers |
- new promotional expenses:
About 650 mn yen unused - Subscribers:
Lost about 10,000 net increase
9
Business segment Results
Sales | Marginal profit | |||||
11.26bn yen | 2.36bn yen | |||||
Oisix | ||||||
(YoY +36%) | (YoY +154%) | |||||
3.63bn yen | 0.72bn yen | |||||
Daichi | ||||||
(YoY +41%) | (YoY +59%) | |||||
4.72bn yen | 0.89bn yen | |||||
Radish | ||||||
Boya* | (YoY +25%) | (YoY +31%) | ||||
3.60bn yen | 0.39bn yen | |||||
Other | ||||||
business | (YoY +117%) | (YoY +53%) | ||||
Overview
ARPU increased significantly, and both sales and profits increased. Suspension of new acquisition for about 1 month.
It gradually resumed acquisition from the end of April, and even with increased subscribers, it has not been completely resumed. Profit temporarily increased due to unused new promotional expenses
ARPU increased significantly, and both sales and profits increased. Significant increase of subscribers also due to an increase in natural inquiries and the effect derived from Oisix new acquisition page.
ARPU increased significantly, and both sales and profits increased. Originally, the number of subscribers was in the phase of prioritizing service improvement and suppressing new acquisitions, but due to the increase in natural queries 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 business grew steadily.
In addition, due to the impact of the consolidation of Purple Carrot, both sales and profits increased overall.
10
Business segment Results Overview
Sales
23.13bn yen
Other | Marginal profit Segment costs | ||
10.9% | |||
Total segment costs | |||
Radish | Marginal profit Segment costs | 187.5bn yen | |
Boya | 19.0% | ||
Daichi | Marginal profit | Segment costs | |
19.9% | |||
Total | |||
Companywide fixed costs, | |||
Marginal profit | |||
Goodwill etc | |||
43.8bn yen | |||
23.0bn yen | |||
Oisix | Marginal profit | Segment costs | Operating Income |
21.0% | 2.07bn yen | ||
11 |
2. Our Current Situation and Response to COVID-19
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 increase in shipping capacity, is expected to be resolved
by 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-19
- Business Impact in 1Q
- Support activities with COVID-19
14
Business impact summary
ーOisix Oisix
As of end of 4Q
Owing to stronger home delivery demand vis-à-vis stay home initiatives, existing subscriber ARPU increased by some 20% on Mar.
We have been implementing various support initiatives related to COVID-
19. Examples are the "Sale of School Lunch Milk" and the "Hokkaido Product Exhibition."
-
Due to shipments exceeding capacity, we stopped new customer acquisitions for a period 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 have benefited from lower implementation of PR expenses.
But this suggests lost sales in the future.
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
Current status
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.
Increased sales of Harumi Kurihara Kit and Vegan Kit due to increased meal opportunities at home and increased health awareness.
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 subscribers of 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
Business impact in Oisix | Domestic Delivery business |
(Three major brands) | |
ーKit Oisix | Domestic Delivery business |
(Other) | |
Other Business |
Vis-à-visCOVID-19, sales of meal kits designed to address new customer behavior - "increasing cooking time at home" and "increasing health awareness" - were strong.
■Kit Oisix supervised by | ■Vegan Kit |
cook Harumi Kurihara |
- Kurihara Harumi's online video Kit "Harumi Lesson" captures the growing needs of cooking more at home. In June alone, 36,000 meals sold.
Awareness of healthy eating
- habits have increased with COVID-19. Unit Vegan Kit sales has increased by roughly 1.6 times QoQ.
16
Business impact in Oisix | Domestic Delivery business | |
(Three major brands) | ||
ーServer maintenance | Domestic Delivery business | |
(Other) | ||
Other Business | ||
Owing to the sudden increase in server access, the EC site experienced slowing processing speeds. Stabilized by carrying out maintenance in June
Accident
- Vis-à -visCOVID-19, the sudden increase in access resulted 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 measures in 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 levels of ARPU that are in line with other subscription courses. In 2Q, we aim to continue with new customer acquisitions using "Sakutto Oisix" as a core
driver.
■ Sakutto Oisix
✔
✔
Specialized service for shortening cooking time and shopping time launched in end of Apr.
Despite a small number of SKUs, it is
used with the same ARPU as other subscription courses.
While improving the service, we will continue to acquire new customers centered on Sakutto Oisix in 2Q.
18
(Re-posting)
Oisix Sayama Station
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 operation of the Shin-Ebina Station in October 2021
-Up to +50% higher than current capacity
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
5. Initial investment
About 300 million (vehicles, in-house management system, initial rent cost, etc.)
19
(Re-posting)
Future shipping system
Domestic Delivery business
(Three major brands)
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.
Status
/Measures
Logistics
Base
Shipping Capacity
Apr.2020 Oct.2020 Oct.2021
・Launch of Sakutto Oisix, | NEW | |||
・With the start of operation | ||||
Exceeding | a small SKU service | of the Sayama station, | ・Large increase in capacity | |
・Expansion of satellite center | there was a goal to solve | |||
due to operation | ||||
⇒Resuming new | the capacity problem | |||
of Shin-Ebina Station | ||||
acquisitions gradually from | ・Actively resume | |||
the end of April | ||||
new acquisitions | ||||
logistics | ・Current Ebina Station | ・Current Ebina Station | Shin-Ebina Station | |
・Sayama | ||||
+ | ・Fujisawa | |||
・Fujisawa | ・Zama | (※Fujisawa and Sayama will be | ||
+ | closed after Oct. 2021. | |||
・Zama | ||||
Zama is dedicated | ||||
capacity | to shipping radish) | |||
in shipping capacity | *Covers capacity up to | capacity +200% increase | ||
Up to +50% increase | ||||
+10% increase | in shipping capacity | Maximum shipping | ||
the start of operation of | ||||
the Shin-Ebina Station | ||||
20
Business impact summary
ーDaichi/Radish Boya
Daichi | 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%.
Number of new subscribers grew as a result of more new inquiries from natural searches and introductions via Oisix inquiries
There are no issues with shipment capacity currently, but with increased demand in the future, there is the possibility capacity will be increased in the future.
- Due to the sudden increase in demand, some products became out of stock or were sold out.
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
Current status
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.
The number of subscribers also increased by about 6,000 in the 1Q with the Daichi and Radish-Boya
Continued stable supply at existing distribution centers and improved center utilization rate
Although the out-of-stock rate has improved significantly compared to peak demand, it has remained slightly higher than during normal .
21
Business impact | Domestic Delivery business |
(Three major brands) | |
in Daichi/Radish Boya | Domestic Delivery business |
(Other) | |
Other Business |
Responding 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 / | ✓Providing services |
immunity improvement | that make cooking fun |
・Collaboration with "Dr. Croissant" | ・Weekend Meal Kit cooked with Kids |
・Proposal of "immune diet" under | ・Present edible flower |
the supervision of "NHK Publishing" |
22
Business impact summary
Domestic Delivery business
(Three major brands)
Domestic Delivery business
ーOther
As of end of 4Q
Current status
(Other)
Other Business
Domestic | EC support(ISETAN DOOR、d-meal kit) | |||
Increased sales due to increased | ||||
Delivery | demand for home deliver | |||
Similar to Oisix, shipping capacity is | ||||
approaching the upper limit and new | ||||
business | × acquisition is stopped | |||
Tokushimaru | ||||
( | ||||
Other | Owing to COVID-19, the number of customers | |||
) | and the unit price for purchase increase, and | |||
the daily sales amount increases by about | ||||
10%. | ||||
Overseas | Oisix Hong Kong | |||
Earlier than Japan, home delivery | ||||
Delivery | demand began growing in mid-Feb. | |||
Purple Carrot(US) | ||||
Business | ||||
The number of shipments doubled | ||||
as the demand for home delivery | ||||
increased sharply. |
Both purchasing frequency and price have increased from April to May. Resuming new acquisitions gradually from the end of April
Daily sales amount continuously increased by about 10%. Strengthening the business of watching over elderly people
in partnership with the community
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
Business impact summary
Domestic Delivery business
(Three major brands)
Domestic Delivery business
ーOther
As of end of 4Q
Current status
(Other)
Other Business
SinS | |||||
From April, both positive factors of | |||||
increased store visits and negative | |||||
effects of department store | |||||
closures are expected to occur. | |||||
Kindergarten wholesale | |||||
Other | |||||
After April, expected to deteriorate | |||||
× due to the Kindergarten closures. | |||||
business | |||||
Advertisement | |||||
After April, expected to deteriorated | |||||
× due to the curbing advertising | |||||
expenses of business partners | |||||
DEAN&DELUCA | |||||
Significant decrease in | |||||
× sales and profit due to | |||||
temporary closure | |||||
Owing to the COVID-19, increase in supermarket 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 and May, 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 well
Significant increase in April and May due to temporary closure.
The decline in sales and profits also gradually recovered from June. Online shop sales remain strong
24
Other support activities ーWe support
"We Support," which is a food support platform for medical professionals, has supplied a cumulative 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.
- We support
・・A platform that connects medical institutions with food support companies
Support achievement | ||||||||
About | ||||||||
◆Total amount | ||||||||
of support: | 0.24bn yen | |||||||
◆Total amount of | About | |||||||
support meals: | 250,000meals | |||||||
◆Support company: | 82 | |||||||
・Ajinomoto | ||||||||
・Ito-en | ||||||||
・Kameda Seika etc. | ||||||||
◆Support medical | 71 | |||||||
institution: | ||||||||
・Eiju General Hospital
・Tokyo shinagawa Hospital etc.
*As of 31 Jul. 2020 25
Our Current Situation
and Response to COVID-19
- Business Impact in 1Q
- 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%. Going forward, 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 | ||
While sales at stores could not be expected, | ||
as a result of online sales in July, we were | ||
able to cover about 40% of sales. | ||
Up until now, I had no particular EC know- | ||
how, but I was able to gain a great deal of | ||
momentum. | ||
Not only e-commerce but also store | ||
recognition has increased for customers | ||
NEW(From August) | 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.
✓Sakmon(Hokkaido) | ✓Matcha sweets(Kyoto) |
"Oisix Home Travel"
・We support the sales effort of locally produced specialty products that have effectively 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 they would refrain from going home or travel or who could not decide
*Our own survey in 2020 | 28 |
3. Results on Business segment
Overview of Business Segments
- Domestic Delivery business(Three major brands)
Oisix
Daichi
Radish Boya
- Domestic Delivery business(Other)
EC support business for other companies(Alliance) Tokushimaru(Subsidiary)
- Other Business
Overseas Business
Real Retail Business
30
Overview of Business Segments
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
- Domestic Delivery business(Three major brands)
Oisix
Daichi
Radish Boya
- Domestic Delivery business(Other)
EC support business for other companies(Alliance) Tokushimaru(Subsidiary)
- Other Business
Overseas Business
Real Retail Business
31
Domestic Delivery business | |||||||
Oisix KPI | *From this term, the definition of the number of | (Three major brands) | |||||
members and ARPU has been changed to reflect | |||||||
Domestic Delivery business | |||||||
more appropriate business conditions. | (Other) | ||||||
Please refer to page 76 for figures for the past | |||||||
two periods | 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-visCOVID-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 | FY2020/3 | |||||||||||
226,187230,393 | ||||||||||||
FY2021/3 | ||||||||||||
221,612 | 13,822 | |||||||||||
202,427 | ||||||||||||
193,461 | ||||||||||||
186,929 | ||||||||||||
177,606 | ||||||||||||
11,745 | ||||||||||||
11,095 | 11,379 | |||||||||||
10,634 | ||||||||||||
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 | 1Q | 2Q | 3Q | 4Q | 1Q | ||||
*ARPU=Average Monthly Revenue Per User | 32 |
Oisix KPI
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
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 | Kit Oisix Quarterly Sales Meals | |
(Includes Oisix subscribers) |
160,112 | 5.26mn | |||
meals | ||||
4.18mn | ||||
+24.6%) | ||||
(YoY | 3.01mn | meals | ||
160,112 | meals | |||
150,093 | CARG | |||
141,292 | ||||
134,895 | +33% | |||
128,551 | ||||
111,169 | ||||
FY2019/3 | FY2020/3 | FY2021/3 | ||
94,841 | 1Q | 1Q | 1Q | |
87,232 | ||||
79,674 |
✔ Sales increased due to an increase in meal opportunities at home,
surpassing a cumulative total of | ||||||||||
55 million meals | ||||||||||
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 | 1Q | ||
33
Oisix Topics
In June we celebrated our 20th anniversary and held an "Oisix Thanksgiving Day" on our EC site.
With Kit Oisix, we continue to release various collaborative menus.
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
Oisix Thanksgiving Day | Collaboration in 1Q | |
✔ Collaboration Kit with Benesse "Kodomo Challenge"
✔ Collaboration Salad Kit with "Lifestyle
Navigator" Emi Sugiyama
- Loved for many years, we promote mainly PB products that contribute to frequency and Price.
34
Daichi KPI
*From this term, the definition of the number of members and ARPU has been changed to reflect more appropriate business conditions.
Please refer to page 76 for figures for the past two periods
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
No. of subscribers:Significant increase due to increase in new queries by natural 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
43,941
(YoY | +14.1%) | |||||||
44,086 43,775 | 43,941 | |||||||
42,071 | 40,189 38,517 37,532 37,121 37,127 | |||||||
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 | 1Q |
ARPU※
27,117yen
(YoY +30.2%)
FY2020/3
FY2021/3
27,117
22,391
21,604
20,821
21,159
1Q | 2Q | 3Q | 4Q |
*ARPU=Average Monthly Revenue Per User | 35 |
らでぃっしゅぼーや KPI
*From this term, the definition of the number of members and ARPU has been changed to reflect more appropriate business conditions.
Please refer to page 76 for figures for the past two periods
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
No. of subscribers:Significant increase due to increase in new queries by natural 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※ | ||
62,515 | 23,189円 | |||||||||||
(YoY 2.8%) | (YoY | +27.4%) | ||||||||||
74,240 71,616 | FY2020/3 | |||||||||||
66,070 | 23,189 | FY2021/3 | ||||||||||
62,935 61,009 59,400 58,528 | 62,515 | |||||||||||
56,935 | ||||||||||||
19,659 | ||||||||||||
18,202 | 18,621 | |||||||||||
17,926 | ||||||||||||
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 | 1Q | 2Q | 3Q | 4Q | 1Q |
*ARPU=Average Monthly Revenue Per User | 36 |
Overview of Business Segments
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
- Domestic Delivery business(Three major brands)
Oisix
Daichi
Radish Boya
- Domestic Delivery business(Other)
EC support business for other companies(Alliance) Tokushimaru(Subsidiary)
- Other Business
Overseas Business
Real Retail Business
37
EC support
Domestic Delivery business
(Three major brands)
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
- Support for Isetan Mitsukoshi's EC business Commissioned from operation and management of EC sites to distribution and delivery
- Subscribers continues to grow steadily in 1Q
D-meal Kit
- Started in July 2019 in collaboration with NTT DOCOMO. Offer regular delivery services, mainly meal kit for NTT DOCOMO's customers
-
Responding to changing customer needs by expanding the lineup of retorts
and frozen side dishes
38
Domestic Delivery business | |
Tokushimaru(subsidiary) | (Three major brands) |
(Other) | |
Domestic Delivery business | |
Other Business
Significant growth in both total distribution and operating units.
Daily sales amount continuously increased by about 10%. We started a new partnership with Ito-Yokado in April and aim to further accelerate expansion.
The value of circulation
3.79bn yen | ||||||
(YoY | +57.1%) | 3.79 | ||||
Number of vehicles | ||||||
in operation | ||||||
555 | 2.41 | 555 | ||||
1.78 | ||||||
1.22 | 415 | |||||
0.69 | 314 | |||||
243 | ||||||
168 | ||||||
FY2017/3 | FY2018/3 | FY2019/3 | FY2020/3 | FY2021/3 | ||
1Q | 1Q | 1Q | 1Q | 1Q |
Development Scale
Number of affiliated
supermarkets
130
39
(Re-posting) | Domestic Delivery business | ||||
(Three major brands) | |||||
Changes in Tokushimaru's management | |||||
Domestic Delivery business | |||||
structure and future growth strategies | (Other) | ||||
Other Business | |||||
While continuing efforts to expand our mobile sales business for shopping refugees, we are also advancing development of new businesses such as the media business.
- Changes in Tokushimaru's management structure
Name | New position | Previous position |
Shingu Ayumu | President and Representative | Director |
Director | ||
Sumitomo Tatsuya | Director, Founder, | President and Representative |
In charge of new business | Director | |
- Future growth strategies
Strategy1
Accelerate expansion of mobile sales business for 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 to accelerate expansion
Strategy2
New business development | Mr. Sumitomo, who has strengths in the | |
such as media business | ||
media business, is in charge of. | ||
⇒We look to develop new businesses that leverage our ability | ||
to make in-person contact with roughly 150,000 senior | ||
citizens twice a week. | ||
*1,000台到達時の利用者数試算 40 |
Overview of Business Segments
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
- Domestic Delivery business(Three major brands)
Oisix
Daichi
Radish Boya
- Domestic Delivery business(Other)
EC support business for other companies(Alliance) Tokushimaru(Subsidiary)
- Other Business
Overseas Business
Real Retail Business
41
Domestic Delivery business | |||
Purple Carrot(U.S.) | (Three major brands) | ||
situation from Jan. to Mar. | |||
(Other) | |||
※Purple Carrot shows the business | Domestic Delivery business | ||
Other Business
We 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 July
Business status
- 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.
- Even in the phase of increasing the number of subscribers, the main complaint rate continued to decrease by 30% YoY.
New Topics
- In July we commended sales of meal kits at "Whole Foods Markets," the largest organic retailer in the United States.
◆No. of subscribers
QoQ
about+30% | ||
QoQ | ||
about+20% | ||
FY2019/12 | FY2019/12 | FY2020/12 |
3Q | 4Q | 1Q |
42
Domestic Delivery business | |
Hong Kong/Shanghai | (Three major brands) |
(Other) | |
Domestic Delivery business | |
Other Business
Hong 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
- 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.
- We sales of Oisix branded agricultural products and juices in Hong Kong's largest newly opened MUJI stores. We Aim to increase local recognition and induct to home delivery business
■ Shanghai
✔ StartedJune trial service of meal kit from
✔ Through continuous customer hearings, we look to adjust recipe content, marketing, and refine our products to a level that meets the needs of the Chinese people.
▲Sales floor for newly opened MUJI store
43
Real Retail Business
Domestic Delivery business
(Three major brands)
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 of kindergarten closures, but gradually recovered to previous levels from June
Shop in Shop
Sales
0.19bn yen
No. of shops
152
0.18 0.18 0.19
0.1
FY2018/3 | FY2019/3 | FY2020/3 | FY2021/3 |
1Q | 1Q | 1Q | 1Q |
Kindergarten Wholesale
Sales
0.16bn yen
No. of trading kindergartens
402
0.24
0.170.16
0.05
FY2018/3 | FY2019/3 | FY2020/3 | FY2021/3 |
1Q | 1Q | 1Q | 1Q |
44
Kindergarten Wholesale Topics
Domestic Delivery business
(Three major brands)
Domestic Delivery business
(Other)
Other Business
In 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 | |
Future Food Fund | (Three major brands) |
(Other) | |
Domestic Delivery business | |
Other Business
Toyota 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.
The only corporate venture capital in Japan that specializes in the area 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 in Japan and overseas.
Limited Partnar
NEW
Food Start-ups
◆Base Food | NEW |
Subscription sales of full meal pasta and whole grain bread
◆Foods cacao
・Cacao bean development in Southeast 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 the disaster area.
47
4. New Business Topics
Business alliance with
OOTOYA 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 daichiOOTOYA
× | |
・Direct transactions with producers | ・Brand power |
・Meal kit own factory | ・High customer loyalty |
・Manufacturing and logistics infrastructure | ・Product planning ability/ |
specialized for subscribers | Menu development ability |
・About 360,000 subscription members | ・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 whole | 49 |
Strengthening joint business with 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 category 50
5. Profits outlook after FY2021/3 2Q
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 | Sales | Costs | ||
2Q
Sustained boost to sales vis-a- vi COVID-19 and restrained new promotional spending suggest continuation of growth above normalized levels.
Shorter summer vacation
- and increased demand due to self-restraint
Continue to suppress new sales promotion expenses to adjust shipping capacity
- Oisix auturm PR costs |
3Q
4Q
Sales are expected to increase during the year- end/New Year holidays. On the other hand, expenses are expected to rise reflecting the start-up of Sayama Station and autumn PR spending.
To secure growth next fiscal year and beyond, we plan in spring a large-scale PR campaign which will likely impact profit margins.
+
-
Sales increase due to year- 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 |
- costsOisix Spring large-scale PR |
(Planned large-scale upfront |
investment for the next term, |
including unused portion of |
this term) |
52
6. ESG Topics
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 through business approaches.
We create and expand Tomorrow's Food.
Hosting events online
Social events previously held offline were reviewed and held online for the first time. In short order, we built a new model overcoming physical constraints to deliver new value.
Tokyo Harvest | A Million People Candle night | |
- One of Japan's top harvest festivals in honor of those who produce our food.
- It was pleased to talk from the field.
- Over 10,000 views have been delivered.
- We proposed a slow life without using electricity.
- It was held in conjunction with the radio station.
- The number of views were more than 4 times 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 food
culture" and "alternative eating styles" being implemented
Change the sell way | Suggest how to eat | For next generation | |||||||||
✓ We established "Sasaeel | |||||||||||
✓ Accept reservations, | ✓ We suggest sustainable | ||||||||||
sell the required amount. | "Doyo no Ushinohi". By telling | Unagi Fund". | |||||||||
✓ Handling only frozen | you how to enjoy smaller | ✓ The donation is used for | |||||||||
amounts and eat alternative | |||||||||||
products with long shelf life. | joint research with the | ||||||||||
ingredients. | |||||||||||
university and contributes to | |||||||||||
the 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 the future 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 background
・product development, logistics ・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" to
smooth the process of mothers returning to the workforce. In FY3/21, three male employees are scheduled to take childcare leave.
Taking maternity | Returning to work | Number of | |||
and childcare leave | after taking leave | returned to work | |||
100% | 95% | 59 | |||
*Period:Mar.2013~ Jun.2020 | 58 |
APPENDIX・DATA SHEET
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.
Fruits Basket Co., Ltd.
Develops alliances with supermarkets in the mobile supermarket business; provides expertise to sales partners.
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 business for food-related startup companies |
investment limited partnership |
Affiliates
Nihon Agri Inc.
DEAN & DELUCA
Exports agricultural products.
Lifestyle business through retail and restaurant businesses
61
Trend in No. of Employees
860
735
680
421 | |||||||
192 | 210 | ||||||
163 | 179 | ||||||
FY2012 | FY2013 | FY2014 | FY2015 | FY2017/3 | FY2018/3 | FY2019/3 | FY2020/3 |
(Consolidated) | (Consolidated) | (Consolidated) | |||||
62 |
Main Business Risks
Effects of poor weather
Fresh produce accounts for about 30 % of Group sales. We deploy a structure 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 in principle 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 and quality issues, with potential consequences for Group businesses and business results.
Effects of concentration of logistics centers
We operate our own logistics centers, where logistics functions such as inspection, storage, sorting, and packing of our products are concentrated. For the most part, products under the Oisix brand are shipped to customers through our logistics center located in the city of Ebina, Kanagawa Prefecture. Those under the DWMK brand are shipped through a center located in the city of Narashino, Chiba Prefecture. If a natural disaster, fire, or other cause were render either or both logistics centers unable to operate, potential consequences include inventory losses, shipping delay, and temporary suspension of services, which in turn would affect Group businesses and business results.
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 and independent institutions). We also strive to secure appropriate quality and safety that 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 and similar matters or provide false quality information. Such cases could well lead to rebuke or penalties from regulators, customer complaints, and compensation for
damages, in turn damaging the image of the Group's brands or leading to a loss
of confidence in the Group and potentially affecting Group businesses and business results.
Effects of relationship
with Yamato Transport Co., Ltd.
Most deliveries of the Group's products to subscribers are handled by Yamato Transport. While the Group strives to maintain a favorable ties to Yamato while building relationships with alternative delivery services, due to current conditions in the logistics business, if the Yamato Group were to demand a major increase in delivery fees or if transaction volumes between us were to shrink, the resulting changes may 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 three home delivery brands.
consumers | Our Strength | |
Home delivery
Own brand | Alliance | ||
Purchasing
Producers
Marketing for home delivery subscriptions
Managing subscriptions
to ensure thorough
management of revenue structures
Subscription network with producers
64
What Our Three Brands Deliver
Based on the distribution of safe, reliable food products, each of our three brands delivers products tailored to the lives and values of our customers.
Working mothers with | Mothers focusing on | Senior women in two- | ||
small children | the home and children | person households | ||
Meals that can be boasted | Self realization | Healthy daily living |
without taking time | through Cooking |
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 management | |||
of 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 | ||||
Profit | CPA | Price | ||
per | ||||
recovery | ||||
purchase | ||||
period | ||||
Profit LTV | ||||
Profitable | ||||
0 | deliveries | |||
Time | ||||
CPA | CPA: cost per acquisition | Loss-making | ||
Profit LTV: lifetime acquisition value | deliveries | |||
Subscribers |
66
Subscription Network
Reducing risks and securing stable transactions through a subscription network based on 4,000 producers nationwide and procurement under transaction conditions arranged in advance
Typical distribution of agricultural products
Consumers | Purchase prices vary |
widely with | |
production | |
conditions. |
Retail store | Inability to control |
volumes purchased | |
and prices due to | |
Wholesale market | |
market conditions | |
Agricultural cooperative | |
Revenue prospects | |
Producers | |
unclear due to price | |
variations resulting | |
from market | |
conditions |
Our efforts
consumers
Purchases at stable pricing regardless of market conditions
Oisix ra daichi | Facilitating demand |
control/projections | |
through sales plans | |
based on projected | |
supply volumes | |
Advance purchase commitment based on specified product types, quantities, timing, and prices
Producers | Clear revenue |
projections to back | |
sound investment | |
decisions |
67
Differences in the assets of the three brands
How to
join
How to
order
Logistics
bases
Last One
Mile
WEB mainly
WEB only
2 place in Kanagawa
Yamato trucks approximately 99%
WEB/ door-to-door sales
WEB/
Paper catalogs/
TEL
6 places
in Hokkaido, Miyagi, Tokyo, Kanagawa, Aichi, Osaka,.
Our trucks approximately 95% (area around Logistics bases)
WEB mainly
WEB/
Paper catalogs/
TEL
1 place in Chiba
Our trucks approximately 85%
(area around metropolitan 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 | Brands, expertise, |
Royalties | information provision |
Regional supermarkets
Bases for supply of products
13% | |||
Products | +5 yen | ||
Product gross profits | |||
30% | |||
17% | |||
Sales partners | In-person | Customers | |
sales |
Owner-operators | +10 yen rule | |
+5 yen | ||
70
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
Oisix Shanghai
- Started the service in 2017. Grasp the needs to establish
the subscriptionmodel for
Chinese customers
Oisix Hong Kong
- Launched the service in Hong Kong in 2009. Cross-borderdelivery of Japanese products
- With the spread of coronavirus, both users and sales are dramatically increasing
U.S. Meal Kit Market*
$2.5 | $9 |
Billion | |
Billion | |
USD | USD |
20172025
PurpleCarrot Business(U.S.)
×
- Global expansion of vegan food x Japanese food "Health Conscious Food" both in Asia and the U.S.
- Recognize consolidated from FY2020/3 3Q
* Hexa Research『Global Meal kit Delivery Service Market Size And Forecast, | 71 |
/ByType (Fresh Food, Process Food) And Trend Analysis, 2015 - 2025』 |
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 system that makes it possible to order ingredients for student meals based on menus,
it provides support for kindergarten operations in both serving meals and nutrition.
Kindergarten | Oisix ra daichi |
◆Stable purchases of safe produce and processed food meeting strict standards
◆A wide-ranging product lineup that eliminates the need for additional purchasing
◆Full-time senior nutritionists develop unique menus for use by kindergartens; they also respond to requests for nutritional consultations.
◆Easy ordering using a simplified Web form ◆Simplified single supplier management
Omakase Boya system
for receiving orders from kindergartens
Ordering | Producers |
Delivery | Purchase |
on | |
Requested |
date
73
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 based
on our expertise in repeat marketing, site user interface/user experience improvements,
food logistics in three temperature zones, securing new EC customers, and omni-channel management
Ad Oisix:
Periodic advertisements delivered to subscribers
In addition to an EC site that boasts 1.2 million unique views per month, this service delivers advertising to about 300,000 households, including subscribers to DWMK and Radish Boya.
Tavelty:
seasonal vegetable novelty products
We offer novelty products based on our expertise in service, products, and delivery, established through more than 3 million regular deliveries a year.
74
DATA SHEET:Results
Results
FY2019/3 | FY2020/3 | FY2021/3 | |||||||||
(mn yen) | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Sales | 16,853 | 31,720 | 48,906 | 64,026 | 16,265 | 32,552 | 52,425 | 71,040 | 23,132 | ||
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 to | 537 | 893 | 2,533 | 2,387 | 270 | 390 | 695 | 790 | 1,184 | ||
owners of the | |||||||||||
parent | |||||||||||
75 |
DATA SHEET:
Business Segment Result
Business Segment Result
FY2019/3 | FY2020/3 | FY2021/3 | ||||||||
(mn yen) | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | |
Sales | 6,863 | 13,769 | 22,190 | 29,619 | 8,308 | 16,524 | 26,522 | 35,829 | 11,265 | |
Oisix | Marginal | 970 | 1,943 | 3,371 | 4,036 | 933 | 1,868 | 3,261 | 4,801 | 2,367 |
profit | ||||||||||
Sales | 2,769 | 5,440 | 8,405 | 10,902 | 2,587 | 5,137 | 7,936 | 10,541 | 3,636 | |
Daichi | Marginal | 479 | 960 | 1,536 | 1,989 | 457 | 885 | 1,397 | 1,889 | 724 |
profit | ||||||||||
Sales | 5,811 | 9,926 | 14,346 | 18,028 | 3,770 | 7,459 | 11,410 | 14,980 | 4,721 | |
Radish Boya | Marginal | 1,030 | 1,765 | 2,657 | 3,342 | 688 | 1,273 | 2,001 | 2,667 | 899 |
profit | ||||||||||
Other | Sales | 1,482 | 2,755 | 4,198 | 5,793 | 1,663 | 3,529 | 6,383 | 9,497 | 3,601 |
Business | Marginal | 154 | 290 | 479 | 724 | 256 | 557 | 656 | 846 | 391 |
profit | ||||||||||
Companywide fixed costs, | 2,024 | 3,844 | 5,779 | 7,779 | 1,792 | 3,683 | 5,719 | 7,736 | 2,305 | |
Goodwill etc | ||||||||||
76
Data Sheet:Main KPI
KPI trend
FY2019/3 | FY2020/3 | FY2021/3 | ||||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||||
Subscribers | ||||||||||||
177,606 | 186,929 | 193,461 | 202,427 | 221,612 | 226,187 | 230,393 | 239,837 | 252,303 | ||||
(number) | ||||||||||||
ARPU | 11,558 | 11,118 | 11,522 | 11,173 | 11,095 | 10,634 | 11,379 | 11,745 | 13,822 | |||
(yen) | ||||||||||||
Oisix | ||||||||||||
Price/ | 6,005 | 5,973 | 6,149 | 6,013 | 5,884 | 5,840 | 6,055 | 6,166 | 6,748 | |||
purchase | ||||||||||||
(yen) | ||||||||||||
Purchase | 1.92 | 1.86 | 1.87 | 1.86 | 1.89 | 1.82 | 1.88 | 1.90 | 2.05 | |||
Frequency | ||||||||||||
(number) | ||||||||||||
Subscribers | 44,086 | 43,775 | 42,071 | 40,189 | 38,517 | 37,532 | 37,121 | 37,127 | 43,941 | |||
(number) | ||||||||||||
ARPU | 20,247 | 19,807 | 20,226 | 19,171 | 20,821 | 21,159 | 22,391 | 21,604 | 27,117 | |||
(yen) | ||||||||||||
Daichi | ||||||||||||
Price/ | 7,899 | 8,121 | 8,573 | 8,046 | 8,195 | 8,292 | 8,732 | 8,508 | 9,234 | |||
purchase | ||||||||||||
(yen) | ||||||||||||
Purchase | 2.56 | 2.44 | 2.36 | 2.38 | 2.54 | 2.55 | 2.56 | 2.54 | 2.94 | |||
Frequency | ||||||||||||
(number) | ||||||||||||
Subscribers | 74,240 | 71,616 | 66,070 | 62,935 | 61,009 | 59,400 | 58,528 | 56,935 | 62,515 | |||
(number) | ||||||||||||
ARPU | 17,158 | 17,076 | 18,439 | 17,401 | 18,202 | 17,926 | 19,659 | 18,621 | 23,189 | |||
Radish | (yen) | |||||||||||
Boya | Price/ | 5,460 | 5,616 | 6,114 | 5,869 | 6,055 | 6,060 | 6,398 | 6,206 | 7,028 | ||
purchase | ||||||||||||
(yen) | ||||||||||||
Purchase | 3.14 | 3.04 | 3.02 | 2.97 | 3.01 | 2.96 | 3.07 | 3.00 | 3.30 | |||
Frequency | ||||||||||||
(number) | ||||||||||||
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 be accurate.
Actual operating results may differ from the future outlooks contained in this material.
78
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Disclaimer
Oisix.Daichi Inc. published this content on 14 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2020 06:02:05 UTC