# Oisix ra daichi Inc.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第29期(2025/04/01－2026/03/31) (S100YJ0Y)
> Page: https://vizora.meequs.com/en/company/oisixradaichi
> Retrieved: 2026-09-30T22:48:11.522Z

## Company

Oisix ra daichi, founded in 2000, is a company in E-commerce listed on TSE Prime. It has 8,196 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Oisix ra daichi Inc. |
| Ticker | 3182 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3182.T) |
| Listing | TSE Prime |
| Head office | 東京都品川区大崎一丁目11番2号 |
| Representative (per filing) | 代表取締役社長 髙島 宏平 |
| Founded | Jun 2000 |
| Share capital | ¥4B |
| Employees (consolidated) | 8,196 |
| Average salary (parent only) | ¥6.9M |
| Fiscal year end | March |
| Website | www.oisixradaichi.co.jp (https://www.oisixradaichi.co.jp/) |
| Corporate number | 6010701012329 |
| EDINET | E27260 |
| Industries (Vizora) | E-commerce, Business Process Outsourcing, Takeout & Delivery Meals, Childcare |

> Profile source: annual securities report (S100YJ0Y, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Takeout & Delivery Meals (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 83.3 | 15 |
| Profitability | 34.4 | 16 |
| Cash conversion | 46.4 | 14 |
| Efficiency | 65.6 | 16 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 38% of Oisix ra daichi's sales come from B2C subscription service(Delivery service), with B2B subscription service and Social service making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed -1.8% from the prior year, operating profit +6.9%.

## Company structure

- Segment revenue mix: B2C subscription service(Delivery service) 37.5%、B2B subscription service 33.1%、Social service 16.0%、Other 7.6%、Vehicle operation service 5.8%
- Revenue → net income: ¥251419000000 → ¥4604000000
- Net income → operating cash flow: ¥4604000000 → ¥9284000000（difference ¥4680000000）
- Main uses of operating cash flow: CapEx ¥1875000000 / dividends ¥277000000 / buybacks ¥0
- Change in cash: ¥2136000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥251.4B |  |
| Operating income | ¥7.34B | Margin 2.9% |
| Net income | ¥4.53B | Margin 1.8% |
| Free cash flow | ¥7.41B |  |
| Largest business | B2C subscription service(Delivery service) | of segment revenue 37.5% |
| Employees (consolidated) | 8,196 |  |
| EPS | ¥23.1 |  |
| Book value per share | ¥923.68 |  |
| Equity ratio | 25.3% |  |
| Shares outstanding | 36,940,000 |  |
| Treasury shares | 2,207,100 |  |
| Shareholders | 14,979 |  |
| Average salary (parent only) | ¥6.9M | Filing company only |
| Cash ratio | 19.5% | Cash ÷ revenue 8.4% |
| Vs. industry median margin | -2 pp | E-commerce |
| ROE | 16.4% | Derived from disclosed figures |
| ROA | 3.7% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.1× net income
- FY2026, revenue is 2.2× its level five years ago
- FY2026, employees -31% while operating income rose 7%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥100061000000 | ¥251419000000 | +151.3% |
| Operating income | ¥7465000000 | ¥7339000000 | -1.7% |
| Operating margin | 7.5% | 2.9% | -4.5 pp |
| Employees | 915 people | 8,196 people | +795.7% |
| Cash and equivalents | ¥15552000000 | ¥21091000000 | +35.6% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 宅配事業（Oisix） → 事業再編・廃止 | 49.8% |
| 宅配事業（大地を守る会） → 事業再編・廃止 | 14.0% |
| 宅配事業（らでぃっしゅぼーや） → 事業再編・廃止 | 17.7% |
| 宅配事業（Purple Carrot) → 事業再編・廃止 | 8.7% |
| その他 → その他 | 7.6% |
| その他 → 事業再編・廃止 | 2.3% |
| 新設・再編 → B2Cサブスク | 37.5% |
| 新設・再編 → B2Bサブスク | 33.1% |
| 新設・再編 → 社会サービス | 16.0% |
| 新設・再編 → 車両運行サービス | 5.8% |

Segment revenue source references: 10 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| B2C subscription service(Delivery service) | — | — | ¥94286000000 | 8.8% | 2 |
| B2B subscription service | — | — | ¥83223000000 | 3.5% | 2 |
| Social service | 2 years | +88.4% | ¥40349000000 | 3.7% | 2 |
| Other | 5 years | +14.1% | ¥19011000000 | 3.5% | 2 |
| Vehicle operation service | 2 years | +53.0% | ¥14549000000 | 9.4% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 251,419 | 100.0% | S100YJ0Y |
| Cost of revenue | 177,505 | 70.6% | S100YJ0Y |
| Gross profit | 73,913 | 29.4% | S100YJ0Y |
| SG&A | 66,574 | 26.5% | S100YJ0Y |
| Operating income | 7,339 | 2.9% | S100YJ0Y |
| Ordinary income | 6,840 | 2.7% | S100YJ0Y |
| Pretax income | 7,435 | 3.0% | S100YJ0Y |
| Income tax | 2,830 | 1.1% | S100YJ0Y |
| Net income | 4,604 | 1.8% | S100YJ0Y |
| Net income attributable to owners | 4,527 | 1.8% | S100YJ0Y |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 71 |
| SG&A | 26 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 29.4% → Operating margin 2.9% → Net margin 1.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -1.8%; Core profit growth: +6.9%
Operating leverage (core profit growth ÷ revenue growth): -3.86×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 256,009 | 251,419 | -4,590 | -1.8% |
| Gross profit | 75,210 | 73,913 | -1,297 | -1.7% |
| Operating income | 6,864 | 7,339 | 475 | +6.9% |
| Net income attributable to owners | 3,638 | 4,527 | 889 | +24.4% |
| Operating cash flow | 3,496 | 9,284 | 5,788 | +165.6% |
| Free cash flow | 92 | 7,409 | 7,317 | +7953.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 71,040 | 2,467 | 3.5% | 790 | 1,080 | -178 | S100LN8L |
| FY ending Mar 2021 | 100,061 | 7,465 | 7.5% | 5,031 | 8,819 | 6,948 | S100OLHD |
| FY ending Mar 2022 | 113,476 | 4,171 | 3.7% | 2,727 | 924 | -1,948 | S100R7KE |
| FY ending Mar 2023 | 115,176 | 3,346 | 2.9% | 1,807 | 5,306 | 3,230 | S100VJ94 |
| FY ending Mar 2024 | 148,408 | 5,125 | 3.5% | 4,108 | 7,722 | 4,940 | S100W5VC |
| FY ending Mar 2025 | 256,009 | 6,864 | 2.7% | 3,638 | 3,496 | 92 | S100YJ0Y |
| FY ending Mar 2026 | 251,419 | 7,339 | 2.9% | 4,527 | 9,284 | 7,409 | S100YJ0Y |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥30.7M |
| Operating income per employee (consolidated) | ¥895.4K |
| Net income per employee (consolidated) | ¥552.3K |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 986 | 1,032 | 11,456 | 11,818 | 8,196 |
| Average salary (parent company) | — | ¥6.3M | ¥6.5M | ¥6.7M | ¥6.9M |
| Average age (parent company) | 40.9 years | 41.3 years | 40.9 years | 41.5 years | 41.1 years |
| Average tenure (parent company) | 10.1 years | 10.3 years | 10.1 years | 10.3 years | 10.0 years |

Year over year: Employees (consolidated) -30.6% · Revenue (consolidated) -1.8%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| B2C subscription service(Delivery service) | 94,286 | 37.5% | 8,265 | 8.8% |
| B2B subscription service | 83,223 | 33.1% | 2,908 | 3.5% |
| Social service | 40,349 | 16.0% | 1,505 | 3.7% |
| Vehicle operation service | 14,549 | 5.8% | 1,369 | 9.4% |
| Other | 19,011 | 7.6% | 656 | 3.5% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| B2C subscription service(Delivery service) | 37.5% | 56.2% | 18.7 | 8.8% |
| B2B subscription service | 33.1% | 19.8% | -13.3 | 3.5% |
| Social service | 16.0% | 10.2% | -5.8 | 3.7% |
| Vehicle operation service | 5.8% | 9.3% | 3.5 | 9.4% |
| Other | 7.6% | 4.5% | -3.1 | 3.5% |

Segment → industry: B2C subscription service(Delivery service) → E-commerce / Vehicle operation service → Business Process Outsourcing / Social service → Business Process Outsourcing / B2B subscription service → Takeout & Delivery Meals / B2C subscription service(Delivery service) → Takeout & Delivery Meals / Social service → Childcare

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 9,284 | 3.7% | S100YJ0Y |
| Capital expenditure | 1,875 | 0.7% | S100YJ0Y |
| Free cash flow | 7,409 | 2.9% | 算出 |
| Investing cash flow | 2,037 | 0.8% | S100YJ0Y |
| Financing cash flow | -9,186 | -3.7% | S100YJ0Y |
| Dividends paid | 277 | 0.1% | S100YJ0Y |
| Share buyback | 0 | 0.0% | S100YJ0Y |
| Change in cash | 2,136 | 0.8% | S100YJ0Y |
| Cash and equivalents | 21,091 | 8.4% | S100YJ0Y |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 13,033 | 14,720 | 29,440 | 18,955 | 21,091 | S100VJ94, S100W5VC, S100YJ0Y |
| Total assets | 52,634 | 64,502 | 143,709 | 134,564 | 108,137 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Net assets | 23,872 | 26,140 | 37,401 | 39,487 | 29,069 | S100VJ94, S100W5VC, S100YJ0Y |
| Share capital | 3,994 | 3,995 | 3,995 | 3,995 | 3,995 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Property, plant and equipment | 16,482 | 16,399 | 26,400 | 27,066 | 23,437 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Intangible assets excluding goodwill | 3,533 | 3,609 | 43,963 | 42,127 | 22,977 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Goodwill | 1,261 | 1,190 | 15,225 | 14,837 | 7,730 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Investment securities | 1,796 | 11,450 | 3,339 | 3,841 | 3,680 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Current assets | 28,514 | 30,680 | 61,278 | 53,246 | 53,235 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Current liabilities | 15,914 | 26,231 | 62,875 | 45,933 | 47,913 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Short-term borrowings | 1,010 | 10,060 | 15,045 | 10,095 | 14,155 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Long-term borrowings | 101 | 74 | 14,648 | 21,401 | 9,058 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Total liabilities | 28,762 | 38,361 | 106,307 | 95,076 | 79,067 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Non-controlling interests | 1,739 | 1,542 | 8,306 | 9,030 | 1,709 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Equity attributable to owners of parent | 21,954 | 23,764 | 27,878 | 28,978 | 26,110 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Retained earnings | 14,448 | 16,255 | 20,364 | 23,736 | 20,217 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |
| Treasury stock | -4,503 | -4,503 | -4,504 | -6,807 | -4,559 | S100R7KE, S100VJ94, S100W5VC, S100YJ0Y |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YJ0Y |
| Property, plant and equipment | 22% | S100YJ0Y |
| Intangibles and goodwill | 28% | S100YJ0Y |
| Investment securities | 3% | S100YJ0Y |
| Other assets | 27% | S100YJ0Y |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 73% | S100YJ0Y |
| Equity | 27% | S100YJ0Y |
| Other liabilities | 0% | S100YJ0Y |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 52,634 | 64,502 | 143,709 | 134,564 | 108,137 |
| Equity | 23,872 | 26,140 | 37,401 | 39,487 | 29,069 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 13,033 | 14,720 | 29,440 | 18,955 | 21,091 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 9.3% | S100YJ0Y |
| Fixed assets ÷ total assets | 21.7% | S100YJ0Y |
| Goodwill ÷ parent equity | 29.6% | S100YJ0Y |

Goodwill over 4 years: 1,261 → 7,730 JPY; total investing cash flow: -37,474 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 19.5% |
| Cash ÷ revenue | 8.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 126.5% |
| Cash vs. profit gap | 4,757 JPY mn (of net income 105.1%) |
| Shareholder returns / net income | 6.1% |
| Shareholder returns / FCF | 3.7% |
| Shareholder payments — dividends / net income | 6.1% |
| Shareholder payments — dividends / FCF | 3.7% |
| CapEx intensity (capex ÷ revenue) | 0.7% |
| Investing CF relative to operating CF | 21.9% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 2.4% | 2.16× | 5.2% | 2.40× | 12.4% | S100R7KE |
| 2023 | 1.6% | 1.97× | 3.1% | 2.56× | 7.9% | S100VJ94 |
| 2024 | 2.8% | 1.43× | 3.9% | 4.03× | 15.9% | S100W5VC |
| 2025 | 1.4% | 1.84× | 2.6% | 4.89× | 12.8% | S100YJ0Y |
| 2026 | 1.8% | 2.07× | 3.7% | 4.41× | 16.4% | S100YJ0Y |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 髙島 宏平 | Major shareholder | 14.0% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 8.4% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 8.0% | 2026-03-31 |
| THE BANK OF NEW YORK 133612(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 7.5% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 6.4% | 2026-03-31 |
| THE BANK OF NEW YORK MELLON 140040(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 3.3% | 2026-03-31 |
| 藤田 和芳 | Major shareholder | 3.0% | 2026-03-31 |
| 株式会社ＮＴＴドコモ | Major shareholder | 2.9% | 2026-03-31 |
| 株式会社リクルート | Major shareholder | 2.9% | 2026-03-31 |
| NORTHERN TRUST CO.（AVFC）RE USL NON-TREATY CLIENTS ACCOUNT(常任代理人 香港上海銀行東京支店) | Major shareholder | 2.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第29期(2025/04/01－2026/03/31) | S100YJ0Y | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJ0Y,, |
| 有価証券報告書－第28期(2024/04/01－2025/03/31) | S100W5VC | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5VC,, |
| 訂正有価証券報告書－第27期(2023/04/01－2024/03/31) | S100VJ94 | 2025-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VJ94,, |
| 有価証券報告書－第26期(2022/04/01－2023/03/31) | S100R7KE | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7KE,, |
| 有価証券報告書－第25期(令和3年4月1日－令和4年3月31日) | S100OLHD | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OLHD,, |
| 有価証券報告書－第24期(令和2年4月1日－令和3年3月31日) | S100LN8L | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN8L,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).