Slides
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H1 of FY25 Business and Financial Highlights Oisix ra daichi Inc. November 13, 2025
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1 Table of Contents FY25 H1 Financial Results FY25 H2 Initiatives Business Segment Summary Appendix Executive Summary1 3 2 4 5 6 Subsidiary Reorganization
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2 Farm for Tomorrow, Table for Tomorrow We provide services that enable better culinary lives for more people. We create systems where good farmers are rewarded and take pride in their work. We help to realize a sustainable society by building frameworks that continuously link farm and table. We take business approaches to resolve social issues related to food. We create and expand the idea of “food for tomorrow.”
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3 Executive Summary (1/2) ⚫ [Overall] H1 sales reached JPY 131.8 billion (up JPY 6.1 billion YoY), while H1 EBITDA landed at JPY 6.0 billion (down JPY 0.08 billion YoY). Although B2B sales and profits increased, B2C marketing expenses increased (up JPY 0.5 billion YoY). ⚫ [B2C] Oisix's subscribers increased YoY for the first time in about two years, landing at 361K. On the other hand, driven primarily by increased marketing expenses at Oisix, the B2C profit margin for H1 landed at 7.6% (1.3 pts deterioration YoY). ⚫ [B2B] The soaring price of food ingredients, particularly rice, which began in H2 of FY24, has continued. However, as a result of steady progress in both price optimization and the standardization of store operations, the profit margin for H1 finished in line with the same period last year. ⚫ [Overall] Sales and EBITDA are progressing steadily at 52% and 47% of the revised full-year plan, respectively. Despite a temporary impact from the subsidiary reorganization, parent net income is progressing at approximately 50%—largely in line with the plan—once JPY 2.3 billion gain on the sale of the Vehicle and Other Businesses (recorded on 10/1) is factored in. FY25 H1 Financial Results FY25 Full-Year Forecast
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4 Executive Summary (2/2) ⚫ [B2C] For H2, we will focus on its “Cho-Raku (Super easy) Kit” series and strengthen product development that balances time savings and deliciousness, such as knife-free meal kits. Furthermore, considering that the aggressive marketing investment in H1 has resulted in sufficient progress toward achieving FYE 25 target (360K users), we plan to continue investing in marketing during H2. This approach will prioritize balancing profits while ensuring opportunities in the market are not missed. ⚫ [B2B] (1) Development of products including “Genki Gohan (Vitality Meal)” for elderly care facilities, aiming to establish the “time-efficient food service model” for operation with minimal staff. (2) Continued promotion of standardizing operation procedures such as shift management and ingredient control, targeting achievement by FYE 25. (3) Negotiations for price adjustments, including terminating unprofitable contracts, were almost completed against the target of concluding negotiations by end of October 2025, but follow-up will continue. ⚫ On October 1, the full acquisition of the Food and Social Service Businesses under the SHiDAX Group and the sale of the Vehicle and Other Businesses were completed. For H2, following this transaction, we anticipate the recognition of a special gain on sale, a reduction in the balance sheet through the repayment of borrowings, and an improvement in the effective tax rate. FY25 Full-Year Forecast (cont'd)
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2. Subsidiary Reorganization
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6 Subsidiary Reorganization - Key Timeline Making SHiDAX an Equity-Method Affiliate Strategic significance: Entry into the food service market and utilization of SHiDAX’s customer base October 2022 January 2024 September 2025 October 2025 SHiDAX Announces Management Buyout Strategic significance: Enhancing management flexibility and enabling mutual utilization of management resources between us and SHiDAX Making SHiDAX a consolidated subsidiary Our shareholding ratio reached 66%, and SHiDAX was consolidated as a subsidiary within our group Completion of the full acquisition of SHiDAX’s Food/Social Service Businesses as a wholly owned subsidiary Strategic significance ①: Accelerating decision-making and strengthening execution Completion of the sale of the Vehicle and Other Businesses Strategic significance ②: Enhancing financial stability and capital efficiency November 2023
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7 Accelerating Decision -Making and Strengthening Execution Change in Management Structure Office/Manufacturing Site Integration Group Company Collaboration ⚫ Takashima, Representative Director of our Group, has been appointed Representative Director of SHiDAX Human & Food Service, which operates food and social service businesses. ⚫ The President and Representative Director of the subsidiary of the food business is concurrently served by Director Tsutsumi of our Group. ⚫ Leveraging Oisix's menu development capabilities and manufacturing expertise in B2B by incorporating popular collaborative menus from Oisix into food service. ⚫ Collaborating with Nonpi, we deliverd comprehensive customer solutions, including VIP food services for international sporting events, through group-wide coordination. ⚫ Starting in September, the relocation of B2B business to Osaki Headquarters will accelerate growth by strengthening back-office and PR collaboration, and by enhancing operational capabilities through infrastructure and system risk management. ⚫ Consolidating manufacturing bases will enable us to utilize SHiDAX's factory in Kyoto and standardize B2C/B2B meal kit component production across Eastern and Western Japan. 1
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8 Enhancing Financial Stability and Capital Efficiency 2 Equity ratio Net Debt/ EBITDA Borrowings Borrowings interest rate FYE 24 FYE 25 (Forecast) 22.6% 1.1x JPY 33.3 billion 1.9% 30% 0.5x JPY 25.0 billion 1.1% *Estimated results assuming no impact other than the reorganization of subsidiaries after the end of September 2025. ⚫ We achieved balance sheet improvement through the sale of the Vehicle and Other Businesses. We will enhance our financial flexibility and strategic agility to drive our sustainable growth, including the implementation of roll-up M&A, going forward.
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3. FY25 H1 Financial Results
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10 Summary of FY25 H1 ⚫ Due to an increase in new contracts and price adjustments in B2B, sales increased YoY. ⚫ [B2C] Profit margins deteriorated due to increased marketing expenses aimed at acquiring new subscribers, primarily for Oisix. ⚫ [B2B] Despite the impact of soaring food ingredient costs since H2 of FY24, price adjustments and the standardization of store operations progressed smoothly, resulting in improved profit margins YoY. ⚫ [Social] Although profits tend to decrease seasonally during Q2 when summer vacations are common, at after-school care facilities with annual contracts, they increased YoY . ⚫ The significant YoY decrease stemmed from non-recurring gains (JPY 1.3 billion) recognized in H1 of FY24. However, parent net income for FY25 is expected to be largely in line with the plan when factoring in the gain on the sale of the Vehicle and Other Businesses (JPY 2.3 billion), which is scheduled to be recorded on October 1. FY24 FY25 FY24 vs FY25H1 H1 125,706 131,820 +4.9% 6,161 6,077 (1.4%) 3,294 3,011 (8.6%) 2,392 927 (61.2%) Highlights *For details on non-operating income/expenses, extraordinary income/expenses, and corporate taxes, refer to Financial Results FAQ. (JPY MM) Sales EBITDA Operating Profit Net Profit Attributable to the Parent Company
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11 Changes in Sales and EBITDA B2C Subscription ⊖ Decrease in Purple Carrot sales *Sales (Other) include other business and consolidation adjustments, and EBITDA (Other) include other business, corporate expenses, amortization of goodwill and depreciation. B2B Subscription ⊕ Growth in new contracts ⊕ Price adjustments B2C Subscription ⊖ Increase in marketing expenses (JPY 530 million) B2B Subscription ⊕ Price adjustments ⊖ Increase in food expenses (JPY MM) (JPY MM) Sales EBITDA B2C Subscription B2B Subscription Social/ Vehicle Operation Other FY25 H1 FY24 H1 B2C Subscription B2B Subscription Social/ Vehicle Operation Other FY25 H1 FY24 H1 125,706 (1,421) 3,350 3,364 819 131,820 6,161 (744) 380 628 (348) 6,077
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12 Financial Results by Segment *No adjustment for Oisix, Daichi＋Radish. For other segments, adjusted segment profit = segment profit (financial results summary) + amortization/depreciation of goodwill and intangible fixed assets related to M&A (see data sheet for details). *Purple Carrot's fiscal year ends in December, and adjusted segment profit for Q3 YTD is expected to be a loss of USD 2.7 million. (JPY MM) FY24 H1 FY25 H1 YoY B2C Subscription 48,178 46,756 (3%) Oisix 29,033 29,227 +1 % Daichi + Radish 13,502 13,484 (0%) Purple Carrot 5,642 4,044 (28%) B2B Subscription 38,122 41,472 +9% Social Service 18,063 20,229 +12% Vehicle Operation Service 13,384 14,584 +9% Other Business 9,121 10,196 +12% Consolidation Adjustments (1,164) (1,419) - Sales 125,706 131,820 +5% (JPY MM) FY24 H1 FY25 H1 YoY Margin B2C Subscription 4,278 3,533 (17%) 7.6% Oisix 3,050 2,480 (19%) 8.5% Daichi + Radish 1,462 1,391 (5%) 10.3% Purple Carrot (233) (337) - - B2B Subscription 1,432 1,813 +27% 4.4% Social Service 638 871 +37% 4.3% Vehicle Operation Service 1,383 1,779 +29% 12.2% Other Business 670 430 (36%) 4.2% Corporate Expenses (5,108) (5,417) - - Operating Profit 3,294 3,011 (9%) 2.3% Amortization of Goodwill Depreciation 2,866 3,065 - - EBITDA 6,161 6,077 (1 %) 4.6% Sales Adjusted Segment Profit
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13 Quarterly Progress of Sales and EBITDA *For FY23, the impact of SHiDAX integration (consolidated in Q4) had a notable impact, therefore a detailed breakdown is provided. ⚫ Sales is progressing steadily. Considering the year-end sales season for B2C and price adjustments and the standardization of store operations for B2B, EBITDA is expected to be slightly weighted toward H2. Sales EBITDA 25% 24% 20% 25% 26% 25% 24% 19% 24% 26% 28% 28% 22% 27% 23% 24% 18% 24% SDX 21% 0% 20% 40% 60% 80% 100% FY21 FY22 FY23 FY24 FY25 Q1 Q2 Q3 Q4 37% 27% 20% 20% 26% 30% 23% 19% 28% 21% 35% 39% 34% 32% (3%) 11% 9% 20% SDX 17% 0% 20% 40% 60% 80% 100% FY21 FY22 FY23 FY24 FY25 Q1 Q2 Q3 Q4
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14 Quarterly Progress by Segment (FY25) *Progress rate calculated based on revised forecasts for FY25 due to subsidiary reorganization. Total profit is stated as EBITDA. ⚫ B2C: While profits tend to be concentrated in Q3 due to the year-end sales season, significant marketing expenditures in Q2 are expected to result in FY25 forecast falling short. ⚫ B2B: In H2, the effects of price optimization will continue to materialize, with profit margins expected to improve. ⚫ Social: While Q2 profits declined significantly due to seasonal factors, progress has exceeded expectations. ⚫ Vehicle: Completed sale of the Vehicle and Other Businesses on October 1. ⚫ Total: B2B, Social upside, plus company-wide cost improvements and other factors are expected, so FY25 forecasts are on track to be achieved Sales Adjusted Segment Profit Highlights 26% 53% 39% 23% 20% 21% 47% 9% 42% 13% 0% 20% 40% 60% 80% 100% Total Vehicle Social B2B B2C Q1 Q2 Q3 Projected Shortfall Projected Surplus 26% 50% 25% 26% 24% 26% 50% 26% 25% 23% 0% 20% 40% 60% 80% 100% Total Vehicle Social B2B B2C Q1 Q2 Q3
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15 Progress of Parent Net Income ⚫ Despite a temporary impact from the subsidiary reorganization, parent net income is progressing at approximately 50%—largely in line with the plan—once the JPY 2.3 billion gain on the sales of the Vehicle and Other Businesses (recorded on 10/1) is factored in. Parent Net Income Highlights ⚫ The SHiDAX Group's businesses (B2B, Social, and Vehicle) performed well. However, progress relative to EBITDA growth remained sluggish due to our 66% ownership stake and the SHiDAX Group's high effective tax rate. ⚫ Given that the ownership stake in B2B and Social Service Business will reach 100%, net profit is expected to increase in proportion to EBITDA in H2. ⚫ The decrease in profits from the Vehicle Business is expected to be offset by factors including decrease in goodwill amortization, other company-wide expenses, and interest expenses, and an increase in our ownership stake in B2B and Social Service Businesses (66% → 100%). Additionally, the gain on the sale of the Vehicle Business is scheduled to be recorded in Q3 at JPY 2.3 billion. ⚫ In addition to the elimination of temporary effects associated with the subsidiaries reorganization, the effective tax rate is expected to improve as the proportion of profits attributable to the SHiDAX Group, which has a high effective tax rate, decreases. H1 Results H2 Forecast *In calculating the progress rate for parent net income, an effective tax rate of 50% is assumed for the gain on the sale of the Vehicle Business. *Due to the large number of consolidated subsidiaries and equity-method affiliates, parent net income tends to fluctuate significantly due to temporary gains and losses. 79% 49% 34% 66% 23% 21% 51% 66% 34% 0% 20% 40% 60% 80% 100% FY21 FY22 FY23 FY24 FY25 H1 H2 Approx. 29% Gain on the sale of the Vehicle Business
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4. Business Segment Summary
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Pandemic-Driven Increase in Demand 17 B2C Subscription1 ■ Subscribers (K) Oisix Subscribers ⚫ Oisix's subscribers increased from around 200K in FY18 to around 400K in FY23, but the number of subscribers has been declining over the past two years. As of the end of September 2025, the number of subscribers increased YoY. This figure is expected to fluctuate as we head toward the end of March 2026. 187 202 226 240 275 309 348 346 356 394 399 369 359 354 361 FY18 Q2 FY18 Q4 FY19 Q2 FY19 Q4 FY20 Q2 FY20 Q4 FY21 Q2 FY21 Q4 FY22 Q2 FY22 Q4 FY23 Q2 FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2
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18 B2C Subscription - Oisix ⚫ In H1, we made steady progress toward our target (360K by the end of March 2026) by concentrating marketing expenses while maintaining per- customer acquisition costs and churn rates. For H2, we plan to invest marketing expenses to capture market opportunities while balancing profitability. ■ Profit margin (%) Subscribers and ARPU Segment Profit Margin ■ Subscribers (K) ◆ ARPU（JPYK） 399 380 369 368 359 352 354 352 361 360 11.3 11.6 11.6 11.7 11.4 12.2 12.4 12.3 12.0 12.4 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 ・・・ FY25 (Forecast) 7.8% 11.8% 9.9% 8.3% 12.8% 14.0% 10.7% 11.1% 5.8% 12.7% FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 ・・・ FY25 (Forecast)
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19 B2C Subscription - H1 Initiatives Product and Service Development （Acquisition of new subscribers） ⚫ Building on the evolution of ultra-time-saving and premium products and services like Cho-Raku Kit, Deli Oisix, and collaboration kits, we will achieve the acquisition of subscribers with higher loyalty. ⚫ We will continue developing new products that contribute to acquisition of subscribers, such as launching collaboration items with the new drama starting in October as the “Cho-Raku Kit," while also considering their potential to generate buzz. Improving Promotions （Acquisition of new subscribers） Product and Service Development （Deli Oisix / Healthcare Oisix） ⚫ Despite most being existing members changing plans, Deli Oisix reached 20,000 subscribers 10 months after launch (as of October). In H2, we will focus on reviewing manufacturing processes to enhance taste, expand capacity, and reduce operational errors. ⚫ Healthcare Oisix launched its first collaborative product. Collaborating with Anna Umemiya, a talent currently undergoing cancer treatment. ⚫ Reduce reliance on managed advertising and leverage more cost-effective performance-based advertising models. ⚫ Improve communication before and after trial set purchases by refining product guides and brochures based on follow-up emails to site visitors who left and customer interviews. ©谷口菜津子／ぶんか社 ©TBSスパークル／TBS
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20 B2C Subscription - Daichi + Radish ⚫ In H1, the profit margin deteriorated by 0.5 pts YoY due to increased marketing expenses for acquiring new subscribers for Radish Boya. ■ Radish Subscribers (K) ■ Daichi Subscribers (K) ◆ ARPU（JPY K） *ARPU is calculated as the weighted average of two brands. Refer to the datasheet for details on each brand. 19.9 21.2 19.4 19.2 19.2 20.2 18.7 18.6 18.5 18.8 Subscribers and ARPU Segment Profit Margin 69 70 71 72 72 73 75 77 76 39 36 36 36 36 36 36 36 34 108 107 107 109 109 108 112 112 110 117 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 ・・・ FY25 (Forecast) 9.9% 14.5% 11.7% 10.9%10.7% 14.5% 10.5%10.8% 9.9% 11.9% FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 ・・・ FY25 (Forecast) ■ Profit margin (%)
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21 B2B Subscription 2 ⚫ Sales increased YoY due to growth in new contracts and negotiation of price adjustments. Despite the impact of soaring rice prices since H2 of FY24, standardized store operations— including shift management and ingredient control—also contributed to increased profits YoY. ⚫ To achieve both top-line growth—a key med-term priority— and focusing on short-term profitability, we are strategically investing in personnel and recruitment expenses. ➢ In addition to addressing challenges such as rising turnover rates and increased overtime hours, we are establishing a system for handling a greater volume of projects. ⚫ Q2 profit increased significantly compared to Q1, primarily due to reduced labor costs associated with summer vacation at schools that have annual contracts for school meals. *From FY25, school lunch service has been changed from the Social Service segment to the B2B Subscription segment, and historical data in B2B Subscription segment include school lunch services. HighlightsSales and Adjusted Segment Profit ■ Sales (JPY MM) ■ Adjusted segment profit (JPY MM) ◆ Adjusted segment profit margin (%) 17,588 18,654 19,467 19,581 18,873 21,010 20,462 804 545 886 434 560 635 1,177 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 ・・・ FY25 (Forecast) 4.6% 2.9% 4.6% 2.2% 3.0% 3.0% 5.8% 3.5% 80,200 2,800
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22 B2B Subscription - H1 Initiatives Product and Service Development (Strengthening group collaboration) ⚫ Strengthening the collaboration between SHiDAX, Oisix, and Nonpi to build a framework capable of capturing the corporate cafeteria market, amid favorable conditions such as the return to office and the third round of wage increases. ⚫ Oisix's plant-based meal kit “Plant Oisix” was also offered at international women's tennis tournaments, catering to diverse dietary needs. This expansion of products from B2C to B2B is progressing. Strengthening Sales Capabilities (Addressing labor shortages) ⚫ Enhanced part-time staffing frees up employee time from overtime/shortages, allowing for a significant increase in sales activities like new project acquisition. ⚫ System improvements now enable nutritionists to handle ordering and recipe creation remotely. This eliminates the need for business trips to assist stores in other areas, fostering greater diversity in work styles. Improvement of Profitability (Price / Operational optimization) ⚫ Negotiations for price adjustments reflecting rising ingredient and labor costs were largely completed by the end of October 2025. Contract terminations are also progressing within current projections. ⚫ Establish a system enabling the monitoring of labor hours and ingredient ordering/usage across all stores to visualize costs. Thoroughly implement operational planning and daily management through area manager training. ⚫ 食材費や人件費の高騰を踏まえた価格適正化の交渉 は25/9時点で約9割まで進捗。解約も現時点では全 体の1%水準とほぼ計画通りに進捗 ⚫ 作業工程の見直しによる生産性の向上や、有資格者 の必要数の見直しなど人材配置の最適化など業務の 標準化を徹底
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23 Social Service ⚫ Against the backdrop of measures to eliminate waiting lists for childcare and rising outsourcing rates to private companies, demand for after-school childcare programs is increasing. Due to the tendency for labor costs to increase during summer vacation at after-school care, profits tend to decrease in Q2. Number of Facilities 3 Sales/Adjusted Segment Profit ■ Sales (JPY MM) ■ Adjusted segment profit (JPY MM) ◆ Adjusted segment profit margin (%) 2,464 2,957 2,948 2,953 2,896 3,343 3,346 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 1.8% 5.2% 1.9% 6.7% 2.7% 7.1% 1.6% 7,566 8,966 9,097 9,410 9,085 10,074 10,155 0 0 0 0 0 0 139 465 172 629 247 710 160 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2
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5. FY25 H2 Initiatives
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25 B2C Subscription - H2 Initiatives (1/2) “ Cho-Raku (Super easy) Kit” Plan (Strengthening the rollout of Cho-Raku Kit/time-saving RTE meals for greater time savings) Kit Oisix (20-minute cooking) doesn't save enough time. Oisix's Kits are for adults to enjoy on special occasions. ▼ Feedback on the original Kit ▼ solve it! 1. Cooking time is just 10 minutes. Many recipes where the main dish or main dish plus two side dishes can be completed in under 10 minutes. 2. The cooking process is also simple. Simple steps like just cutting vegetables or just stir-frying pre-cut vegetables. 3. Wash dishes only as needed Many recipes that can be made using just one frying pan or one pot. ⚫ Expanding the “Cho-Raku Kit” line that requires no knives or cutting boards. By year-end, we will expand the menu to 100 items, with over 50% of products taking 10 minutes or less to prepare. ⚫ We are also introducing "Cho-Raku Kit" for past favorites (e.g., bibimbap/salsa chicken), products from JPY 490 per serving, and non-kit time-savers, including microwavable sides and quick-prep vegetable additions. ⚫ Through these products, we aim to meet customers' needs for time-saving solutions and affordable price points, thereby driving acquisition new subscribers, preventing churn, and increasing orders.
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26 B2C Subscription - H2 Initiatives (2/2) Functional Kit (Gut health meal kit) Promotion (Increasing brand awareness) ⚫ Based on the results of test initiatives implemented in H1, we will sequentially implement measures to enhance Oisix's brand awareness in H2, including television commercials and social media campaigns. ⚫ Stimulate the desire to “try Oisix,” aiming not only to acquire new subscribers but also to increase usage rates among existing customers. ⚫ Achieve a diet that helps easily regulate gut health with meal kits supervised by gut bacteria specialists. ⚫ As health needs continue to grow in society, we will continue to expand our lineup of product series that serve as new avenues for acquiring new subscribers.
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27 B2B Subscription - H2 Initiatives (1/2) Product Development (“Genki Gohan” with Oisix) Labor costs are rising Recruitment is challenging ▼ The stable operation of meals in senior care facilities faces difficulties. ▼ The satisfaction level of meals for users (consumers) and their families is also an issue. Looks just like regular Colorful Soft Meals No fibrous texture Colorful pureed Meals “ SUGO-CALO ” Essential Nutrition in 80% of the Size. Food costs are soaring There's too much to finish. There are health risks such as weight loss and nutritional deficiencies Appearance is not appetizing. I want to eat delicious meal. Easily cut with chopsticks Colorful Regular Meal 1．Preventing Weight Loss by Supporting Meal Completion “SUGO-CALO” series: High-calorie, delicious snacks in small portions. By helping you get essential nutrients and build the habit of finishing your meals, we aim to prevent weight loss. 2. Achieving labor savings through “fully cooked foods” No cooking required at the facility. Simply reheat to provide consistently delicious meals with no variation in taste due to cooking skill. 3. Provision on a 45-day cycle Leveraging B2C expertise, we provide visually appealing and delicious menus that keep diners satisfied.
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28 B2B Subscription - H2 Initiatives (2/2) Improvement of Profitability （Operational optimization） ⚫ Thoroughly standardizing store operations, including ingredient management and shift scheduling. Addressing the challenge that daily management implementation rates remain low, support has been rolled out sequentially to all stores nationwide starting since August. ⚫ Over 70% of stores that rigorously implement daily management and effectively execute the PDCA cycle achieve their profit targets. Starting in H2, we will accelerate initiatives to further boost achievement rates, including automating cost overrun alerts using AI and other technologies. ⚫ Strengthen mechanisms for sharing best practices across stores, such as visualizing store managers' and area managers' performance outcomes—including ranking by store budget achievement—and evaluating exemplary store operations ⚫ We will accelerate on-site improvements by introducing evaluations and allowances based on the skills of store managers and supervisors in store operations rather than a seniority-based evaluation system.
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29 Toward Mid-Term Targets - Domestic B2C Subscription （Domestic B2C Subscription） Sales and Segment Profit ■ Sales (JPY Bn)■ Segment profit (JPY Bn) ◆ Actual/Segment profit margin(%) ◇ Forecast＆Plan/Segment profit margin(%) ● Oisix subscribers (K) *Domestic B2C does not report adjusted segment profit as it does not recognize goodwill and amortization of intangible fixed assets related to M&A. ⚫ We will advance the ultra-time-saving development of promising meal kits, while simultaneously expanding Deli Oisix capacity and establishing a full PR framework. Profits from cost improvements will be allocated to brand-enhancing marketing, thereby maintaining overall profitability. 87.0 90.9 10.0 11.3 FY24 FY25 (Forecast) FY26 (Plan) FY27 (Plan) FY28 (Plan) FY29 (Plan) 354K 360K 600K 11.6% 12.4%
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30 Toward Mid-Term Targets - B2B Subscription * The number of facilities represents the total number of facilities under contract for Life Care (formerly Medical) and Contract services, excluding school meals. * Adjusted segment profit = segment profit (financial results summary) + amortization of goodwill and intangible assets related to M&A, etc. (refer to the data sheet for details) ⚫ In addition to organic growth and top-line growth through M&A, we plan to improve profitability through price adjustments and standardizing store operations—including, shift management, and ingredient management—and by reducing labor costs through the introduction of “time-efficient food service model” and DX. （B2B Subscription） Sales and Segment Profit 3.2% 3.5% 5.0% 76.6 80.2 2.4 2.8 FY24 FY25 (Forecast) FY26 (Plan) FY27 (Plan) FY28 (Plan) FY29 (Plan) 1,818 3,000 ■ Sales (JPY Bn)■ Adjusted segment profit (JPY Bn) ◆ Actual/Adjusted segment profit margin (%) ◇ Forecast＆Plan/Adjusted segment profit margin (%) ● Number of Facilities
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31 Toward Mid-Term Targets -B2B Subscription (Product × Operations × DX/AI × Marketing) ⚫ Reviewing the definition of “good meals” for elderly care facilities and developing new products. ⚫ Planning to continue reconstructing the definition of “good meals” across industries, aiming to provide high-value-added services based on this new definition. ⚫ Revise the definition of “good meals” from the conventional “safe, reliable, nutritional standards, and low cost” to “contributing to the well-being and QOL (quality of life) of customers.” ⚫ Shifting focus away from “maximizing individual customization to meet customer requests” toward developing and providing value- added products. ⚫ The primary means to resolve the structural challenge of labor shortages in the food service program and achieve labor-saving measures. ⚫ In addition to automating tasks such as AI-powered menu planning and optimizing inventory and ordering, we have established a system enabling nutritionists to remotely manage multiple locations. ⚫ Aim to build a profitable business model by minimizing personnel costs in preparation and service through measures such as standardizing our workflows. ⚫ Standardize meal provision and rigorously implement labor management while establishing a daily management and monitoring system. ⚫ Leveraging awareness and brand image in the B2C—such as Oisix ingredients and popular collaboration menus—to enhance user satisfaction while acquiring new projects. ⚫ In addition to group collaboration, we are actively promoting pull- type lead generation through web marketing. Product (e.g. elderly care facility) Operation DX/AI Marketing
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32 Toward Mid-Term Targets - B2B Subscription (Roll-up MA Strategy) ⚫ As in the domestic B2C Subscription market, the strategy for B2B Subscription is to scale up through organic growth combined with roll-up M&A. Domestic B2C Subscription (Track Record) B2B Subscription (Outlook) 実績（16/3期⁻25/3期） 実績（16/3期⁻25/3期） FY15 FY18 FY19 FY24 FY29 (Plan) FY24 FY29 (Plan) FY23
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33 M&A Track Record SHiDAX Consolidated subsidiary in Jan. 2024 Fruit Basket Consolidated subsidiary in Oct. 2017 Karabiner Technology Consolidated subsidiary in Jun. 2018 Three Limes, Inc. Consolidated subsidiary in May 2019 nonpi Consolidated subsidiary in Jan. 2024 AGRIGATE Consolidated subsidiary in Mar. 2024 Toyosu Ghosho Sanchoku Ichiba Consolidated subsidiary in Mar. 2021 Daichi wo Mamorukai Integrated in Oct. 2017 Future Food Fund Founded in Aug. 2019 WELCOME Became an affiliate in Feb. 2019 NIHON AGRI Became an affiliate in Apr. 2017 Tokushimaru Consolidated subsidiary in May 2016 Other（B2C） Radish Boya Integrated in Oct. 2018 B2C Subscription Other B2C Subscription Other（B2C） Other CRAZY KITCHEN Consolidated subsidiary in Aug. 2018 Other Other（B2C） B2B Subscription B2C Subscription Other Other（B2C） Future Food Lab Founded in Jan. 2022 Other Niigata ALBIREX BASEBALL CLUB Became an affiliate in Nov. 2013 Other B2B Subscription Other（B2C） HiOLI Consolidated subsidiary in Jul. 2024 Other（B2C） Oisix×KURKKU FIELDS Founded in May 2024 Other（B2C） *Transaction are listed in order of announcement date and categorized according to disclosed segments.
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6. Appendix
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35 WeSupport Family ⚫ Partnering with LDH, which engages in various social contribution activities under the theme “Dreams For Children,” we held dance lessons and a food pantry for WeSupport Family beneficiary households in August, with participation from LDH artists. ⚫ As an initiative that provided not only “food” but also “entertainment,” it was picked up by the media. Support Records Partnership with LDH JAPAN Dec 2021 October 2025 (Total) 32K families Number of households supported Amount donated JPY1.9 Bn
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36 Sustainability Topics EARTH BEAT FES 2025 Education Program Using Non-Standard Vegetables ⚫ Sukusuku Oisix is implementing a special food education program using corn and eggplant that fell outside standard specifications due to the effects of the intense heat. ⚫ Using vegetables from the field, we foster familiarity with produce through delicious eating experiences. We enjoy every part without waste, contributing to reducing food loss. ⚫ Oisix×KURKKU FIELDS, a group company of ours, hosted the inaugural “EARTH BEAT FES 2025” in Chiba Prefecture on November 8-9. This farm festival event invited everyone involved in food—those who grow it, those who deliver it, and those who eat it—to envision the future of food and experience the connections with their whole bodies. ⚫ The event offered 36 programs including harvest experiences, food-related workshops, live music performances, and various other content.
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37 Industry Landscape B2C（Food Delivery）Market B2B（Food Provider）Market Online supermarket Restaurant delivery Ordering online (for products not readily available locally) Specialty × Subscription Reasonable One-off Specialty Subscription ⚫ B2C: With our ability to procure high-quality foods, low-cost fulfillment, and data utilization capabilities, we have established high barriers to entry. ⚫ B2B: Significant oligopolies have not formed, and there are signs of restructuring, such as entry from other industries. ＊The B2B ( Food Service) Market features top-ranked players
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Subscription model for long-term customer relationships 38 B2C Subscription （Food delivery） B2B Subscription (Food provider) CustomersProduction and ProcessingProcurement Stable, large-scale raw material procurement On-site cooking Daily service provided Daily meals delivered weekly Meal kit production Packing and delivery sorting Integrated processing and logistics centers Packing and delivery sorting Processing of ingredients (including for commercial meal kits) Synergies between B2C and B2B ⚫ We aim to establish a “time-efficient food service model” using commercial meal kits. By scaling this model, we intend to simultaneously reduce food and labor costs in the industry while improving its value.
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14,575 15,909 18,060 20,158 23,016 39,987 64,026 71,040 100,061 113,476 115,176 148,408 256,009 (10,000) 40,000 90,000 140,000 190,000 240,000 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 39 Sales Trend ⚫ Significantly expanded business scale through M&A of Daichi wo Mamoru-kai (2017), Radish Boya (2018), and SHiDAX (2024). Sales Trend January 2024 Merged with SHiDAX March 2013 Listed on TSE Mothers October 2017 Merged with Daichi wo Mamoru-kai October 2018 Merged with Radish Boya ■ Sales: Oisix ond Other business (JPY MM) ■ Sales: Daichi wo Mamoru-kai (JPY MM) ■ Sales: Radish Boya (JPY MM) ■ Sales: SHiDAX (JPY MM)
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40 FY25 Forecast Summary ⚫ In the B2B Subscription, we project sales growth by optimizing prices and strategically focusing resource investment in key sectors which will drive a growth in new contracts. We sold the Vehicle and Other Businesses on October 1. (Difference from initial forecast: JPY (15) bn) ⚫ B2C Subscription are expected to maintain profit levels comparable to FY24, driven by ongoing cost improvements, excluding the significant marketing costs invested in Q2. ⚫ B2B Subscription profit margins deteriorated significantly in H2 of FY24 due to soaring food costs. For H2 of FY25, we anticipate a substantial improvement in profit margins YoY, based on operational standardization and pricing adjustments. ⚫ We sold the Vehicle and Other Businesses on October 1. EBITDA/Operating Profit difference is mainly due to depreciation and amortization of goodwill and intangibles. (Difference from initial forecast: EBITDA of JPY (11.5) bn/ Operating profit of JPY (0.7) bn) ⚫ We completed the full acquisition of SHiDAX’s Food and Social Service Businesses as wholly-owned subsidiaries in September, followed by the sale of the Vehicle and Other Businesses in October. In Q3, an extraordinary gain of JPY 2.3 billion is expected to arise from the sale of the Vehicle and Other Businesses. FY24 FY25 FY24 vs FY25Actual Forecast 256,009 255,000 (0.4%) 12,800 12,850 +0.4% 6,864 7,300 +6.3% 3,638 4,000 +9.9% Highlights Sales EBITDA Operating Profit Net Profit Attributable to the Parent Company (JPY MM)
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41 (Post-Subsidiary Reorganization) Financial Forecast by Segment ＊No adjustment for Oisix, Daichi wo Mamoru Kai, or Radish Boya. For other segments, adjusted segment profit = segment profit (financial results summary) + amortization/depreciation of goodwill and intangible fixed assets related to M&A (see data sheet for details). *Purple Carrot's fiscal year ends in December. (JPY MM) FY24 Actual FY25 Forecast YoY B2C Subscription 97,152 98,400 +1 % Oisix 59,662 62,300 +4% Daichi + Radish 27,396 28,600 +4% Purple Carrot 10,093 7,500 (26%) B2B Subscription 76,576 80,200 +5% Social Service 36,559 39,700 +9% Vehicle Operation Service 27,174 14,584 - Other Business 21,138 24,416 +16% Consolidation Adjustments (2,592) (2,300) - Sales 256,009 255,000 (0.4%) (JPY MM) FY24 Actual FY25 Forecast YoY Margin B2C Subscription 9,625 10,770 +12% 10.9% Oisix 6,857 7,900 +15% 12.7% Daichi + Radish 3,217 3,400 +6% 11.9% Purple Carrot (449) (530) - - B2B Subscription 2,427 2,800 +15% 3.5% Social Service 1,514 1,800 +19% 4.5% Vehicle Operation Service 2,748 1,779 - - Other Business 1,185 1,000 (16%) 4.1 % Corporate Expenses (10,637) (10,849) - - Operating Profit 6,864 7,300 +6% 2.9% Amortization of Goodwill Depreciation 5,935 5,550 - - EBITDA 12,800 12,850 +0% 5.0% Sales Adjusted Segment Profit
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42 (Pre-Subsidiary Reorganization) Financial Forecast by Segment ＊No adjustment for Oisix, Daichi wo Mamoru Kai, or Radish Boya. For other segments, adjusted segment profit = segment profit (financial results summary) + amortization/depreciation of goodwill and intangible fixed assets related to M&A (see data sheet for details). *Purple Carrot's fiscal year ends in December. (JPY MM) FY24 Actual FY25 Forecast YoY B2C Subscription 97,152 98,400 +1 % Oisix 59,662 62,300 +4% Daichi + Radish 27,396 28,600 +4% Purple Carrot 10,093 7,500 (26%) B2B Subscription 76,576 80,200 +5% Social Service 36,559 39,700 +9% Vehicle Operation Service 27,174 31,000 +14% Other Business 21,138 23,000 +9% Consolidation Adjustments (2,592) (2,300) - Sales 256,009 270,000 +5% (JPY MM) FY24 Actual FY25 Forecast YoY Margin B2C Subscription 9,625 10,770 +12% 10.9% Oisix 6,857 7,900 +15% 12.7% Daichi + Radish 3,217 3,400 +6% 11.9% Purple Carrot (449) (530) - - B2B Subscription 2,427 2,800 +15% 3.5% Social Service 1,514 1,800 +19% 4.5% Vehicle Operation Service 2,748 2,800 +2% 9.0% Other Business 1,185 1,300 +10% 5.7% Corporate Expenses (10,637) (11,470) - - Operating Profit 6,864 8,000 +17% 3.0% Amortization of Goodwill Depreciation 5,935 6,000 - - EBITDA 12,800 14,000 +9% 5.2% Sales Adjusted Segment Profit
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43 Mid-Term Targets - EPS ⚫ In B2B Subscription, we will improve profitability by establishing and scaling "time-efficient food service model," which achieves labor-saving and high value- added operations, in addition to organic growth and top-line growth through M&A. 6.9% 7.6% 9.0% Sales EBITDA Normalized EPS ■ B2C+B2B adjustments (JPY Bn) ■ B2C+B2B segment profit (JPY Bn) ■ Others (JPY Bn) ■ B2C+B2B segment profit margin (%) ■ B2C＋B2B sales (JPY Bn) ■ Other sales (JPY Bn) (JPY) *EBITDA = B2C+B2B adjusted segment profit + others *Adjusted segment profit = Segment profit (financial results summary) + Adjustments (goodwill and amortization of intangible fixed assets related to M&A, etc.) *Normalized EPS = EPS × (Net income before taxes and other adjustments – Extraordinary gains and losses) ÷ Net income before taxes and other adjustments 103.1 115.2 175.0 FY24 FY25 (Forecast) FY26 (Plan) FY27 (Plan) FY28 (Plan) FY29 (Plan) 82 76 173 178 300 256 255 6 56 106 156 206 256 306 356 406 FY24 FY25 (Forecast) FY26 (Plan) FY27 (Plan) FY28 (Plan) FY29 (Plan) 10.7 12.2 20.01.3 1.3 7.0 12.8 12.9 FY24 FY25 (Forecast) FY26 (Plan) FY27 (Plan) FY28 (Plan) FY29 (Plan)
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44 Mid-Term Capital Allocation ⚫ Over the past five years, we strategically utilized financial leverage to execute significant capital investments, including the Ebina Logistics Center and the Atsugi Frozen Logistics Center, as well as several M&As, notably the acquisition of SHiDAX. ⚫ Over the next five years, our primary focus will be on M&As within the B2B sector, with the aim of enhancing shareholder returns. ➢ Repayment of borrowings was executed using proceeds from the sale of Vehicle and Other Businesses. If core operating cash flow exceeds expectations or no M&As are executed, we will consider debt repayment and shareholder returns. ⚫ We will continue stable dividend payments and execute buybacks in a flexible manner. ➢ Guideline: Dividend payout ratio of 15%, total shareholder return ratio of 15-30%. ➢ We will cancel any treasury stock exceeding 8.5% in principle. *Core operating CF = operating CF - capital expenditures. Assumptions: JPY3.0-3.5Bn/year (capital investment), sales of JPY75Bn (expected amount to be achieved through non-continuous growth, including M&A, by FY29), 20-25% (equity ratio), maximum 2.0x (net debt/EBITDA ratio) Capital Allocation FY20‐24（Actual） FY25‐29（Forecast） Core Operating CF 60% Borrowings 40% M&A 95% Cash-In Cash-Out Core Operating CF 100% Shareholder Returns 15-30% M&A 70-85% Cash-In Cash-Out Repayment of borrowings Core Operating CF Shareholder Returns 5%
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45 Consolidated - Key Financial Indicators EBITDASales Parent Net IncomeOperating Income (JPY MM) ◆ Percentage of Sales 62,483 67,918 62,383 66,423 65,396 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 3,538 4,142 2,496 3,359 2,718 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 5.7% 6.1% 4.0% 5.1% 4.2% 3.3% 3.9% 1.5% 2.8% 1.8% 3.3% 1.7% 0.2% 1.1% 0.3% 2,064 2,615 953 1,837 1,174 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 2,052 1,143 102 750 176 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2
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46 Consolidated - Major Expenses *Depreciation includes depreciation of customer-related assets related to M&A and is included in both the cost of goods sold and SG&A. Labor Expenses (SG&A)Cost of Sales Amortization of GoodwillDepreciation （JPY MM） ◆ Percentage of Sales 70.2% 70.6% 71.3% 70.9% 71.4% 43,839 47,919 44,454 47,077 46,711 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 8.1% 7.6% 8.3% 8.1% 8.1% 0.5% 0.5% 0.6% 0.5% 0.5% 5,070 5,140 5,154 5,382 5,306 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 309 364 357 347 345 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 1,164 1,160 1,185 1,173 1,198 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 1.9% 1.7% 1.9% 1.8% 1.8%
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47 Domestic B2C - Major Expenses *Figures before consolidation adjustments. *Fulfillment expenses = shipping and handling costs + packaging materials costs + distribution center costs + other costs, Marketing expenses = advertising and promotion costs + sales promotion costs Labor Expenses (SG&A) Fulfillment ExpensesCost of Sales Marketing Expenses (JPY MM) ◆ Percentage of Sales 46.4% 47.2% 47.1% 47.1% 48.4% 1.6% 1.4% 1.6% 1.7% 1.7% 26.3% 23.9% 25.6% 24.9% 25.6% 9,748 11,202 9,803 10,099 10,288 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 5,529 5,677 5,334 5,343 5,450 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 1,538 1,831 1,817 1,861 2,106 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 7.3% 7.7% 8.7% 8.7% 9.9% 331 334 325 367 369 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2
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48 B2B Subscription - Major Segment Sales *Figures before consolidation adjustments. *Life Care Food (formerly Medical): Elderly care facilities, childcare facilities, Hospitals. *Contract Food: Factories, offices, dormitories/training centers, universities, financial institution branches. ■ Sales (JPY MM) ◆ Number of Facilities Life Care Food Contract Food School Lunch 798 806 800 821 816 1,035 1,036 1,018 1,032 1,022 678 678 628 744 746 8,201 8,308 8,260 8,463 8,416 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 3,683 4,060 4,048 4,571 4,239 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 5,650 5,883 5,302 6,502 6,327 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2
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49 B2B Subscription - Major Expenses *Figures before consolidation adjustments. Figures for SHiDAX subsidiaries, including Life Care Food, Contract Food, and School Lunch (excluding 'Sukusuku Oisix' and Nonpi). *Procurement of ingredients is handled centrally by a separate company, so the impact of rising ingredient prices on the performance figures on this page is minimal. Food Expenses（Cost of Sales）Labor Expenses (Cost of Sales) SG&A ExpensesOther Expense（Cost of Sales） （JPY MM） ◆ Percentage of Sales 52.3% 54.3% 53.9% 53.5% 51.5% 30.6% 30.8% 29.6% 30.9% 30.4% 5.4% 5.4% 5.3% 5.2% 5.0% 7.1% 7.1% 7.8% 7.5% 7.6% 5,427 5,687 5,285 6,107 5,813 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 9,282 10,020 9,627 10,568 9,838 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 962 998 944 1,031 959 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 1,254 1,309 1,398 1,481 1,461 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2
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50 B2B Subscription - Number of Facilities Life Care Food Contract Food School lunch ■ Increase ■ Decrease ◆ Number of facilities *Life Care Food (formerly Medical): Elderly care facilities, childcare facilities, Hospital. *Contract Food: Factories, financial institution branches, offices, dormitories/training centers, universities. 28 3 8 7 29 1 (16) (5) (13) (8) (6) 772 800 798 806 800 821 816 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 3 23 1 8 3 21 7 (18) (7) (4) (7) (21) (7) (17) 1,022 1,038 1,035 1,036 1,018 1,032 1,022 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2 53 6 0 116 15 (37) (7) (50) (13) 626 679 678 678 628 744 746 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 FY25 Q2
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51 Balance Sheets *ROE=Net profit attributable to the parent company/Average shareholders' equity, ROIC=After-tax operating income/(Average borrowings + Average shareholders' equity) *Due to net income seasonality (H1-weighted in FY24, H2-weighted in FY25), ROE dropped sharply at end-Sept 2025 but is expected to improve by end-Mar 2026. FY23 FY24 FY25 H1 vs. FY24 Assets 143,709 134,564 137,308 +2.0% Cash and deposits 29,649 19,155 23,694 +23.7% Property, plant and equipment 26,400 27,066 26,633 (1.6%) Customer- related intangible assets 25,655 24,476 23,885 (2.4%) Goodwill 15,225 14,837 14,104 (4.9%) Liabilities 106,307 95,076 99,155 +4.3% Borrowings 31,859 33,381 36,718 +10.0% FY23 FY24 FY25 H1 vs. FY24 Net assets 37,401 39,487 38,153 (3.4%) Shareholders’ equity 27,878 28,978 28,471 (1.7%) Non- controlling interests 8,306 9,030 8,448 (6.4%) Shareholders’ Equity Ratio 20.2% 22.6% 21.6% - ROE 15.9% 12.8% 7.7% - ROIC 4.9% 6.2% 5.4% - Net Debt/ EBITDA 0.27x 1.11x 1.02x - (JPY MM)
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52 Free Cash Flow Free Cash Flow PPE JPY26.6 Bn Goodwill and Others JPY22.9Bn PPE / Goodwill and Others ■ Cash flows from operating activities (JPY MM) ■ Cash flows from investing activities (JPY MM) *From FY22 to FY24, investment cash flow increased significantly due to the conversion of SHiDAX into an equity-method affiliate and then a wholly owned subsidiary. *Goodwill and Others = goodwill + customer-related assets. The sale of the Vehicle and Other Businesses completed on October 1 is expected to remove Vehicle-related goodwill/customer-related assets (JPY 4.5 billion/JPY 10.4 billion) from the balance sheet at the end of December. *Goodwill and others exclude the Vehicle Business. BtoC Subscrption 1.6% BtoB Subscrption 81.2% Social 13.8% Other 3.5% Ebina (Oisix Refrigerati on Center) 44.5%Atsugi (Oisix Frozen Center) 39.5% Other 16.1% 1,080 8,819 924 5,306 7,722 3,496 5,224 (1,754) (2,780) (4,110) (12,135) (10,815) (12,451) (1,128) FY19 FY20 FY21 FY22 FY23 FY24 FY25 H1
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Disclaimers This document contains forward-looking statements about the Company such as forecasts, outlooks, targets, and plans. These statements are based on forecasts made at the time of the preparation of this document using information currently available to the Company. In addition, certain assumptions are used for such statements. These statements or assumptions are subjective and may prove inaccurate in the future or may not be realized, due to a variety of inherent risks and uncertainties. The forward-looking information contained in this document is current as of the date of this document, and the Company is under no obligation and has no policy of regularly updating this information. 53 Contact: Investor Relations Department, Oisix ra daichi Inc. E-mail: ir@oisixradaichi.co.jp