The single achieved both the biggest first-day and first-week sales of any South Korean girl group release in Japan.

With over 250,000 unit sales, it is the first Japanese single by a K-pop girl group to earn a Platinum certification by the Recording Industry Association of Japan (RIAJ).

The group had previously teased the single in August through a promotional video titled #Twice Spot Movie with the caption "One More Time…?"

[5] Two days later, the group appeared as a guest on School of Lock!, their debut on-air radio broadcast in Japan.

[14][15] Caitlin Kelley, writing for Billboard, said the song "enlists some '90s electronica vibes that deviate from the EDM that's been taking over K-pop lately, with a combination of the blaring synths and loud bass that sounds like Sleigh Bells-meets-Eurodance".

[25][26] On its second day, "One More Time" became the fastest-selling K-pop girl group release in Japan based on first week figures.

[30][31][32] It also became the first Japanese single by a South Korean girl group to receive a Platinum certification from the Recording Industry Association of Japan, making Twice the first South Korean girl group to earn a platinum certification in Japan for both a single and an album in the same year.