Oisix ra daichi Inc.
3182・Prime Market・Retail Trade
BtoC Subscription Business
Food delivery subscription business operating four brands domestically and internationally (the company's core business)
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment revenue | ¥94,286 million | ¥97,152 million | ↓ |
| Segment profit | ¥8,265 million | ¥9,361 million | ↓ |
| Segment profit margin | 8.8% | 9.6% | ↓ |
| Depreciation and amortization | ¥2,832 million | ¥2,793 million | ↑ |
| Goodwill amortization (current period) | ¥185 million | ¥188 million | ↓ |
| Goodwill balance at period-end | ¥0 million | ¥490 million | ↓ |
| Segment assets | ¥48,669 million | ¥50,040 million | ↓ |
| Increase in property, plant and equipment and intangible assets | ¥487 million | ¥2,220 million | ↓ |
Business Details
A subscription business that delivers high-value-added food products (fresh produce, processed foods, meal kits) and daily necessities via website and catalog. Operates three brands domestically—"Oisix," "Daichi wo Mamoru Kai," and "Radish Boya"—and "Purple Carrot" in the United States. Competitive advantage stems from a network of contracted producers based on proprietary cultivation and production standards, and high barriers to entry in the "specialty × subscription" domain. The company has established the No. 1 position by gross merchandise value in the domestic food delivery market (approximately ¥3 trillion).
Recent Overview
Both revenue and profit declined year on year, mainly due to the contraction of the Purple Carrot business
For FY2026 (ending March 2026), BtoC Subscription segment revenue was ¥94,286 million (down 3.0% year on year), and segment profit was ¥8,265 million (down 11.7% year on year). Among the three domestic brands, "Daichi wo Mamoru Kai" declined by ¥574 million year on year, while "Oisix" and "Radish Boya" saw slight increases. "Purple Carrot" in the U.S. contracted sharply, down ¥2,776 million year on year (from ¥10,093 million in the prior period to ¥7,317 million in the current period), becoming a factor in the overall segment revenue decline. The goodwill balance at period-end fell to zero, eliminating the goodwill amortization burden in the BtoC segment. The company continues to evolve new services such as "Chou Raku Kit" and "Deli Oisix" to drive profitability improvement.
Key Products
Growth Drivers
- Increase in customer unit price (ARPU) through new service and product evolution such as "Chou Raku Kit" and "Deli Oisix" at Oisix
- Reduction in logistics costs and cost of sales through lower refrigerated/frozen two-package delivery ratios and increased in-house manufacturing ratios
- Building a robust earnings base through continuous improvement of the process from product development to sales
- Revenue growth effect from increased membership at "Radish Boya"
- Synergies from integrating manufacturing, logistics, and systems with the BtoB Subscription Business (improved manufacturing line utilization, DX promotion)
- Continued expansion of the domestic food delivery market at an annual growth rate of approximately 3%, and room for growth in the food e-commerce ratio (approximately 4%)
Risks
- Risk of membership decline associated with optimizing new member acquisition costs at "Oisix" and "Daichi wo Mamoru Kai"
- Risk of rising product costs due to surging energy costs and raw material prices
- Intensifying competition in the domestic food delivery market (the company's market share is only a few percent)
- Foreign exchange fluctuation risk and overseas market uncertainty in the U.S. "Purple Carrot" business (current period revenue declined significantly year on year)
- Risk of existing member attrition due to delayed response to diversifying consumer lifestyles
- Risk of impairment losses (an impairment loss of ¥389 million was recorded in the B2C segment during the current period)
Last updated: June 24, 2026