Oisix ra daichi (3182) Q1 2026 earnings summary

Executive summary

• Sales rose 5.1% year-over-year to JPY 66.4 billion, with EBITDA up 28.1%, operating profit up 49.3%, and net profit attributable to parent up 120.9%.

• B2C ARPU increased and cost reductions improved profit margin, while B2B profit margin remained stable despite higher food costs.

• Segment realignment moved School Lunch services to B2B Subscription to reflect strategic focus.

• Progressing toward full-year sales and EBITDA targets at 25% and 24% of plan, respectively.

• Plans to make SHIDAX's food and social service businesses wholly owned subsidiaries and divest vehicle business to focus on core B2C/B2B subscriptions.

Financial highlights

• Q1 FY25 sales: JPY 66,423 million (+5.1% YoY); EBITDA: JPY 3,359 million (+28.1% YoY); operating profit: JPY 1,837 million (+49.3% YoY); net profit attributable to parent: JPY 750 million (+120.9% YoY).

• Ordinary profit rose 73.8% to JPY 1,651 million; comprehensive income reached JPY 751 million (+34.0% YoY).

• B2C subscription segment profit margin improved by 2.8 pp YoY due to higher ARPU and cost efficiencies.

• B2B subscription sales up 13% YoY, with profit margin stable despite rising ingredient costs.

• Vehicle operation service sales up 10% YoY, with profit margin improvement due to timing differences in expense recognition.

Outlook and guidance

• FY25 sales forecast: JPY 270 billion (+5.5% YoY); EBITDA: JPY 14 billion (+9.4% YoY); operating profit: JPY 8 billion (+16.5% YoY); net profit attributable to parent: JPY 4 billion (+9.9% YoY).

• Full-year EPS forecast at 115.17 yen (+9.9% YoY); dividend forecast for FY2026 maintained at 16.00 yen per share.

• Second-half sales and operating income expected to decrease due to divestiture of vehicle and other businesses, but profit attributable to owners of parent and EPS projected to rise slightly.

• Impact of subsidiary reorganization on FY25 earnings to be disclosed by mid-November.

• B2C expected to see improved profitability from higher ARPU and cost efficiencies; B2B to benefit from price optimization and operational standardization.