Japanese food delivery site ‘Oisix’ is approved for IPO

Japanese food delivery site ‘Oisix’ is approved for IPO

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Oisix, an online home delivery service for organic vegetables and preservative-free foods in Japan, was approved to be listed on the TSE Mothers market, a stock market for emerging companies. Currently the company’s main shareholders include several VC firms, mail order giant Nissen, and cosmetics producer Shiseido. The IPO is scheduled to take place on March 13th, 2013.

Oisix was founded in 1997 by ex-McKinsey consultant Kohei Takashima who started a food delivery service to homes back in 2000. The company saw 12.6 billion yen (approximately $134 million) in revenue with a net profit of 332 million yen ($3.5 million) in the previous fiscal year.

The company’s service has won a huge following among housewives and foodies because it provides variety packages of seasonal vegetables and fish products that can be directly delivered from contracted farmers, fishermen, and food producers.

On a related note, Radishbo-ya, which is doing business in the same field as Oisix, was acquired by NTT DoCoMo as the telco aims to diversify its revenue stream in mobile commerce sales.

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