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Copyright © ITOCHU Corporation. All Rights Reserved. ITOCHU Corporation (8001) The Brand-new Deal FY2025 1st Half Business Results Summary November 5, 2025 Forward-Looking Statements Data and projections contained in these materials are based on the information available at the time of publication, and various factors may cause the actual results to differ materially from those presented in such forward-looking statements. ITOCHU Corporation, therefore, wishes to caution that readers should not place undue reliance on forward-looking statements, and further, that ITOCHU Corporation has no obligation to update any forward-looking statements as a result of new information, future events or other developments. * FY2025 refers to the fiscal year ending March 2026.
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Copyright © ITOCHU Corporation. All Rights Reserved. Highlights 2 Solid earnings progress ¥770.0-850.0 bnInitial Plan Revised ¥800.0-820.0 bn Dividend increase Initial plan (May 2, 2025) Revised forecast (November 5, 2025) Consolidated net profit ¥900.0 bn (No change) Core profit ¥770.0-850.0 bn ¥800.0-820.0 bn ¥200 per share Revised(*) ¥210 per share Share split +¥10 (*) Calculated based on the number of shares before split. Initial plan (May 2, 2025) Revised forecast (November 5, 2025) Dividend per share ¥200 ¥210(*) Share buybacks Approx. ¥170.0 bn ¥150.0 bn or more Total payout ratio Aiming at 50% (No change) 11 consecutive fiscal years of progressive dividend increases Share split of one common share into 5 shares, effective January 1, 2026 Upward revision Downward revision Metals & Minerals FY15 FY25 11 consecutive fiscal years of dividend increases ¥210 per share(*) ¥50 By lowering the investment amount per trading unit, we aim to create a more accessible investment environment, increase stock liquidity, and broaden our investor base, including individual shareholders. H1 consolidated net profit was a near- record ¥500.3 billion (56% progress), and operating cash flows reached a record-high of ¥609.2 billion Revised full-year forecast by segment Revised full-year core profit forecast Effective date January 1, 2026 Split ratio 5-for-1 Initial Plan Textile, Food, ICT & Financial, The 8th, and Others
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Copyright © ITOCHU Corporation. All Rights Reserved. Summary of FY2025 H1 Business Results 3 [ ]: Compared to the same period of the previous fiscal year Consolidated net profit Core profit Operating cash flows Ratio of group companies reporting profits 438.4→¥500.3 bn 396.0→¥379.0 bn ¥392.0 bn 0.47times Quantitative Results Key Points Investments NET DER Total payout ratio Aiming at 50% ¥210 ¥150.0 bn or more (FY24 H1) Consolidated net profit: Exceeded the ¥500.0 billion mark, driven by extraordinary gains from asset replacements and the robust performance of Non-Resource sector. Progress toward the full-year forecast of ¥900.0 billion reached 56%, surpassing the initial assumption and remaining on a steady track. Core profit: Excluding FX (-¥16.0 billion) and resource price (-¥10.5 billion) effects, core profit increased YoY, driven by Non-Resource sector (+¥25.0 billion). It turned upward from ¥181.0 billion in Q1 to ¥198.0 billion in Q2; aiming to further accumulate in H2. Growth Investments: ¥392.0 billion in H1. As of end-September, approved projects (to be executed in H2 and beyond) exceeded ¥200.0 billion, with steady accumulation of high-quality projects. Shareholder Returns: Annual DPS has been increased from the initially announced ¥200 to ¥210(*) (+¥10), continuing progressive dividend. The interim DPS is ¥100, and the fiscal year-end DPS is planned at ¥110(*) (¥22 after share split). Share buyback of ¥150.0 billion is underway for the period from May 7 to Dec 31, 2025; ¥98.4 billion executed by end of Sep 2025. 578.6→¥609.2 bn 87.1% FY25 Shareholder Return Policy (FY24 H1) (FY24 H1) Non-Resource+19.0 ／ Resource(38.5) (including CAPEX) (*) Figure is a forecast based on the number of shares before the stock split. ¥100 [(17.0)] Core operating cash flows 513.0→¥503.0 bn (FY24 H1) [+30.7][+61.8] [(10.0)] Progress 56% YoY (Approx.) Record High Dividend per share Share buybacks Interim Annual(*) +¥10
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Copyright © ITOCHU Corporation. All Rights Reserved. ・ US$106 → US$ 100 ・ US$ 82 → US$ 67 438.4 500.3 FY2025 H1 Business Results Review 4 89.5 348.5 53.4 442.0 ・ 152.78 → 146.02 ＋79.0 • Metals & Minerals (17.5) 【ー】Aluminum & uranium transactions, etc. • Energy & Chemicals (1.0) a b a b 42.5 → 121.5 (*2) (*1) • Textile + 11.0 【＋】DESCENTE • Food + 9.5 【＋】Provisions-related • The 8th + 6.5 【＋】FamilyMart • Energy & Chemicals + 5.0 【＋】Energy transactions, C.I. TAKIRON • CITIC + 3.0 【＋】Comprehensive financial services • ICT & Financial Business + 2.0 【＋】CTC 【 ー 】Mobile-phone-related • Machinery + 1.0 【＋】North American power 【 ー 】Ship-related • General Products & Realty (10.5) 【 ー 】IFL • Metals & Minerals (0.5) YoY +61.8 [+14%] Non- Resource 80% Non- Resource Resource FY24 Q1-2 (*1) Forex valuation losses are included.Consolidated net profit (*2) The total includes “Others.” (*2) Resource prices (10.5) ・ Iron ore (6.5) ・ Coal (3.5) ・ Crude Oil (0.5) Iron ore Crude Oil Forex (16.0) ・Non-Resource (6.0) ・Resource (9.5) ・Others (0.5) Yen/US$ Resource Non-Resource (18.5) ＋25.0 Increase/Decrease in core profit excluding resource price and forex impacts (see breakdown on the right) Others Extraordinary gains and losses FY25 H1（FY24 H1） FY25 H1 major items: • Sale of CPP 88.0 • Settlement payment in a lease company 13.0 • Sale of PROVENCE HUILES 8.0 • Partial sale of JAMCO 5.5 FY25 Q1-2 Consolidated net profit Resource Non- Resource 89% Non- Resource (Unit：billion yen) Resource Non-Resource (18.5) +25.0 Major items: Major items: Approx. Approx. Approx.
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc/Dec Core profit Extra. G&L(*1) Consolidated net profit Core profit Extra. G&L(*1) Consolidated net profit Core profit Extra. G&L(*1) Consolidated net profit Textile 12.7 － 12.7 23.7 0.5 24.2 + 11.0 + 0.5 + 11.5 Machinery 59.3 4.0 63.3 58.9 18.0 76.9 (0.4) + 14.0 + 13.6 Metals & Minerals 100.4 － 100.4 63.5 － 63.5 (36.9) － (36.9) Energy & Chemicals 33.0 － 33.0 35.2 2.5 37.7 + 2.2 + 2.5 + 4.7 Food 36.7 3.5 40.2 45.9 8.0 53.9 + 9.2 + 4.5 + 13.7 General Products & Realty 29.2 2.0 31.2 18.0 1.0 19.0 (11.1) (1.0) (12.1) ICT & Financial Business 37.8 － 37.8 39.5 0.5 40.0 + 1.7 + 0.5 + 2.2 The 8th 24.7 29.5 54.2 31.4 1.0 32.4 + 6.7 (28.5) (21.8) Others, Adjustments & Eliminations 62.1 3.5 65.6 62.5 90.0 152.5 + 0.4 + 86.5 + 86.9 Total(*2) 396.0 42.5 438.4 379.0 121.5 500.3 (17.0) + 79.0 + 61.8 Non-Resource 306.0 42.5 348.5 325.0 117.0 442.0 + 19.0 + 74.5 + 93.5 Resource 89.5 － 89.5 51.0 2.5 53.4 (38.5) + 2.5 (36.1) Others 0.5 － 0.4 3.0 2.0 4.8 + 2.5 + 2.0 + 4.4 Non-Resource (%)(*3) 77% － 80% 86% － 89% Increased 9pt － Increased 10pt FY2025 H1 Consolidated Net Profit by Segment 5 ＊Record High(*1) Extra. G&L. means “Extraordinary Gains and Losses.” (Unit : billion yen) ＊ ＊ (*3) % composition is calculated using the total of Non -Resource and Resource sectors as 100%. 500.3 438.4 442.0348.5 Non-Resource (Record High) Non-Resource FY25 Q1-2 FY24 Q1-2 ＊ ＊ ＊ ＊ ＊＊ ＊ ＊ (*2) The total amount of core profits are approximate.
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc/Dec Summary of Changes Textile 12.7 23.7 + 11.0 【＋】 DESCENTE：Conversion into a consolidated subsidiary 【＋】 Overseas sports sector such as DESCENTE：Stable performance 【＋】 OEM-related business including Convenience Wear：Stable performance 【＋】 Expo(*1)-related business：Stable performance Machinery 59.3 58.9 (0.4) 【－】 Ship-related business：Absence of the gain on the sale of ships in FY24 Q1-2 and decrease in charter income resulting from market downturn 【－】 Asian power generation company：Maintenance and repairs at power generation facilities in FY25 Q1 【－】 Overseas automobile-related business：Lower sales volume in North America and forex impact 【－】 YANASE：Absence of the surge in used car prices in FY24 Q1-2 and decrease in new car sales volume, partially offset by increased ownership 【＋】 North American power business：Increase in electricity sales revenue due to the increase in demand for electricity and the absence of implementation of maintenance in FY24 Q1-2 【＋】 Citrus Investment：Increased ownership in Hitachi Construction Machinery and increased sales in Europe/Asia Metals & Minerals 100.4 63.5 (36.9) 【－】 Lower iron ore and coal prices 【－】 CM：Lower earnings due to forex valuation loss partially offset by stable operation 【－】 Aluminum and uranium transactions：Absence of favorable performance in FY24 Q1-2 【－】 MISI：Delayed recovery in steel material and steel pipe prices Energy & Chemicals 33.0 35.2 + 2.2 【＋】 Energy transactions：Improvement in profitability in LNG transactions 【＋】 C.I. TAKIRON：Increased ownership and increase in transactions of film business 【＋】 CIPS：Increase in transactions of packaging goods and electronic materials 【＋】 Electricity transactions：Higher transaction volume 【－】 Japan South Sakha Oil：Lower production volume and forex valuation loss on foreign currency deposits 【－】 CIECO Azer：Lower sales prices Food 36.7 45.9 + 9.2 【＋】 Provisions-related transactions/companies：Higher transaction volume and improvement in profitability 【＋】 Dole：Higher production volume of bananas 【＋】 HYLIFE：Higher transaction volume and improvement in profitability 【＋】 NIPPON ACCESS/ITOCHU-SHOKUHIN：Expansion of transactions General Products & Realty 29.2 18.0 (11.1) 【－】 IFL：Downturn in pulp prices and increase in costs 【－】 ITOCHU Property Development：Absence of concentrated sales of comprehensive development projects in FY24 Q1-2 【－】 DAIKEN：Deterioration in profitability in domestic business and lower earnings in overseas business 【－】 North American construction-materials business：Underperformance of housing structural materials business 【＋】 Nishimatsu Construction：Start of equity pick-up 【＋】 Indonesian processing of natural rubber company： Higher sales volume ICT & Financial Business 37.8 39.5 + 1.7 【＋】 CTC：Favorable performance 【＋】 HOKEN NO MADOGUCHI GROUP：Higher agency commissions 【＋】 Improvement in remeasurement gains and losses for fund held investments 【＋】 Overseas retail-finance-related companies：Improvement in profitability 【－】 Mobile-phone-related business：Lower earnings due to contract changes 【－】 Orient Corporation：Exclusion from the equity method investments The 8th 24.7 31.4 + 6.7 【＋】 FamilyMart 〔＋〕 Increase in daily sales resulting from enhancement of product appeal and sales promotion 〔＋〕 Strengthening of business foundations such as the reorganization of store network 〔＋〕 Expansion of transactions in new businesses 〔－〕 Increase in costs caused by changes in external environment Others, Adjustments & Eliminations 62.1 62.5 + 0.4 【－】 Orchid : Nearly same level 〔－〕 Appreciation of the yen 〔＋〕 Decrease in interest expenses 〔＋〕 CITIC Limited：Stable performance in comprehensive financial services segment Total (Approx.) 396.0 379.0 (17.0) FY2025 H1 Core Profit by Segment 6 (Unit : billion yen) ＊Record High ＊ ＊ ＊ ＊ ＊ (*1) Expo 2025 Osaka, Kansai, Japan
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Copyright © ITOCHU Corporation. All Rights Reserved. FY2025 Consolidated Net Profit Forecast 7 770.0 800.0-820.0 Forex・Resource prices Turnaround and contributions from new investments in FY24 Recession risks Organic growth and contributions from new investments in FY25 +30.0-50.0 1 2 3 1 (35.0) ・Forex ・Resource prices +35.0 +20.0 +15.0 ・Turnaround ・Profit contributions from new investments in FY24 900.0 Two coking coal projects, Dole, FUJI OIL, IFL, etc. Extraordinary gains / losses (20.0) +50.0-70.0 about+100.0 4 5 (35.0) +35.0 (20.0) +50.0-70.0 about +100.0 Core profit FY24 results Consolidated net profit FY25 forecast Core profit FY25 forecast DESCENTE, CM, C.I. TAKIRON, Kawasaki Motors, etc. Realized extraordinary gains: ¥120.0 bn Forex・ Resource prices Turnaround・ New investments in FY24 Recession risks Organic growth・ New investments in FY25 Extraordinary gains / losses Revised the core profit forecast to a more solid range (¥800.0-820.0 billion) based on recent performance. Achieved steady profit growth, with declines from forex, resource prices, and recession risks compared to the previous fiscalyear covered by organic growth in existing businesses, turnarounds, and profit contributions from new investments. (+4-6%) YoY Core profit 2 3 5 4 (Unit：billion yen)) (25.0) (10.0) 152.62→145.00 North American power business, CTC, FamilyMart, etc. Approx. Yen/US$
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Copyright © ITOCHU Corporation. All Rights Reserved. FY2025 Core Profit Forecast（vs. Initial Plan） 8 Initial Plan Revised Inc/Dec Key Points Forex・ Resource prices (50.0) (35.0) +15.0 Forex+15.0 (The assumption was revised from ¥140 to ¥145) Turnaround +30.0 +20.0 (10.0) Revised forecast of the Australian coking coal project and IFL New investments in FY24 +20.0 +15.0 (5.0) Revised forecast of CM (Effects of the appreciation of the Brazilian real, etc.) Recession risks (40.0) ー (20.0) +20.0 (20.0) Reflected our current view on the economic environment Organic growth・ New investments in FY25 +40.0 +80.0 +50.0 +70.0 +10.0 (10.0) Reflected the progress of existing businesses and new investments Total ±0 +80.0 +30.0 +50.0 +30.0 (30.0) Raised the lower limit by ¥30.0 billion Lowered the upper limit by ¥30.0 billion • Factors contributing to changes from FY24 core profit The core profit forecast for FY2025 has been revised to a more solidrange of ¥800.0-820.0 billion.（Initial Plan：¥770.0-850.0 billion） FY25 Core profit forecast 770.0 850.0 800.0 820.0 +30.0 (30.0) 770.0 ¥770.0- 850.0 bn ¥800.0- 820.0 bn (Unit：billion yen)) Lower limit Upper limit～ Lower limit Upper limit～ Lower limit Upper limit～ Initial Revised FY24 results FY25 forecast (Initial Plan) FY25 forecast (Revised) 850.0 770.0 800.0 820.0 Lower limit (Unit：billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Overview of major businesses and turnarounds 9 DESCENTE North American power business CTC FamilyMart H1 Result 8.5 FY25 Forecast 13.3 • DESCENTE business in China performed strongly, with sales growth driven by increases in store numbers and customer traffic. • PMIs in Japan, South Korea, and China are being steadily executed, including strengthening of directly managed stores and development of dedicated apps in Japan. [YoY +5.7] [YoY +6.2] • Solid performance driven by strong demand for security support for manufacturers, seismic analysis for energy facilities, cloud services for government agencies, and network construction for local governments. • Revenue, and all profit items reached record highs, with order backlog remaining at a very high level. H1 Result 24.4 FY25 Forecast 55.0 [YoY +2.9] [YoY +4.5] H1 Result 8.4 FY25 Forecast 17.0 [YoY +6.1] [YoY +5.5] • Profit increased due to higher electricity sales driven by growing power demand, especially from AI and data centers, as well as a rebound effect from maintenance conducted in FY24 H1. • Strong power demand is expected to continue in H2. • Agreed in October 2025 to invest in a U.S. solar power plant as part of efforts to strengthen the renewable energy business. H1 Result(*) 36.3 FY25 Forecast(*) 45.0 [YoY +8.0] [YoY +3.2] • Achieved 48 consecutive months of YoY daily sales growth, with solid performance driven by effective marketing initiatives. • Promoting the sales floor expansion through eat-in space conversions and installation of external container-type facilities. • Digital signage installed in approx. 10,500 stores, steadily expanding advertising and media business. (*)Excluding extraordinary gains and losses Two coking coal projects IFL Turnaround Turnaround Turnaround Turnaround H1 Result ［YoY +1.0] FY25 Forecast - [Australia] Although operations shifted to more competitive mining areas, production slowed from April to September due to encountering a fault. Having passed the fault, production volumes have now returned to normal levels, but the full-year forecast remains below the initial plan. [The U.S.] Restructuring was completed in June and equipment procurement was carried out. Production resumed in September, one month ahead of schedule, and has been progressing smoothly. [Unit: billion yen] H1 Result (5.1) [YoY (4.3)] • Performance declined YoY due to persistently high log costs resulting from the prolonged Russia-Ukraine situation, combined with sluggish paper demand, particularly in China. • The main plant completed repairs in H1 and is now operating stably. Fundamental cost reduction measures and initiatives led by ITOCHU to maximize sales volume, particularly in China, are underway. - FY25 Forecast - (Not disclosed) [approx. 5.0 reduction of losses ] Upward revision DESCENTE Website｜Financial Results DESCENTE Website｜Financial Results CTC website｜Financial Results CTC website ｜Financial Results Growth Strategy Growth Strategy Growth Strategy Growth Strategy Growth Strategy Growth Strategy Growth Strategy Growth Strategy Downward revision+2.2 Approx. Upward revision+4.0 Downward revision
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Copyright © ITOCHU Corporation. All Rights Reserved. FY25 Q1-2 Results Initial Plan (May 2, 2025) Revised Forecast (November 5, 2025) Increase /Decrease Progress Comments Textile 24.2 38.0 40.0 ＋ 2.0 60% In addition to profit contributions from steady PMI initiatives at DESCENTE, overseas sports-related business, OEM-related business including Convenience Wear, and Expo(*1)-related businesses have also performed well. With reduced recession risks, the initial plan has been revised upward. Machinery 76.9 150.0 150.0 － 51% Despite strong performance in North American power business and the effects of depreciation of yen, recession risks remain, and delays in new investments have resulted in the forecast in line with the initial plan. Metals & Minerals 63.5 180.0 170.0 (10.0) 37% Although impacted by depreciation of the yen, the initial plan has been revised downward due to factors such as the prolonged turnaround in the Australian coking coal project, forex valuation loss from the appreciation of the Brazilian real in CM, and others. Energy & Chemicals 37.7 75.0 75.0 － 50% Although a decrease in dividend income from certain interests in Energy is expected, Chemicals and Power & Environmental Solution have performed steadily. With reduced recession risks, the forecast is in line with the initial plan. Food 53.9 90.0 92.0 ＋ 2.0 59% In addition to the extraordinary gain from asset replacement, provisions-related transactions/companies, and food product marketing & distribution businesses have performed steadily, leading to an upward revision of the initial plan. General Products & Realty 19.0 65.0 65.0 － 29% Due to sluggish performance at IFL, progress in H1 was low. However, with real estate sales concentrated in H2 and profit contributions expected from new investments, the forecast is in line with the initial plan. ICT & Financial Business 40.0 87.0 88.0 ＋ .1.0 45% CTC has performed well due to continued robust demand for digitalization. In addition, steady performance by HOKEN NO MADOGUCHI GROUP and overseas retail-finance companies has led to an upward revision of the initial plan. The 8th 32.4 35.0 39.0 ＋ 4.0 83% FamilyMart has performed strongly, resulting in an upward revision of the initial plan. Others, Adjustments & Eliminations 152.5 180.0 181.0 ＋ 1.0 84% In addition to gains from the sale of C.P. Pokphand, CITIC has performed steadily. Combined with the effects of depreciation of yen, the initial plan has been revised upward. Total 500.3 900.0 900.0 － 56% 10 (Unit: billion yen) FY2025 Consolidated Net Profit Full-year Forecast by Segment (*1) Expo 2025 Osaka, Kansai, Japan
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Copyright © ITOCHU Corporation. All Rights Reserved. Execute share buybacks actively and continuously 50 55 70 83 85 88 110 140 160 200 210 25 35 45 55 65 75 15 16 17 18 19 20 21 22 23 24 25 Dividend per share (yen) Total payout ratio (%) FY2025 Shareholder Returns 11 Aiming at 50 % FY25 Shareholder Return Policy Total payout ratio Dividends ¥150.0 bn or more (FY) 16.2 27.9 68.0 62.0 13.5 60.0 60.0 100.0 150.0 33 29 34 39 38 36 27 33 41 Share buybacks 50% 150.0 or more Total payout ratio: Aiming at 50%, exceeding the Management Policy target of "40% or more" for the second consecutive year. Dividends: ¥210 per share(*1) ; continuing progressive dividendwith the 11th consecutive annual increase. ¥210 per share,(*1) Maintaining ProgressiveDividend Dividend per share (yen) Interim Year-end (Forecast) Annual (Forecast) YoY Share Split basis 22 100 Pre-Share Split basis(*1) 110 210 +10 42(*2) - FY25 Dividend Policy Increase of +¥10 from the initially announced ¥200 per share 49% (*1) (*1) Amounts shown are based on the number of shares before share split (5-for-1 split of common shares) which will take effect on January 1, 2026. 11 consecutive years of dividend increases, maintaining a progressive dividend Total payout ratio Dividends Share buybacks Aiming at 50% ¥200 per share Approx. ¥170.0 bn (Reference) Initial Plan (*2) The total of the interim dividend, adjusted for the number of shares after the share split, and the year-end dividend. Share buybacks (billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Core free cash flows after deducting shareholder returns Approx. 137.0 Approx. (91.0) Approx. 127.0 Maintaining a solid financial foundation by balancing three factors (Growth investments, shareholder returns, and control of interest-bearing debt) NET DER : less than 0.6 times Financial Policy / Cash Allocation 12 FY24 FY25 Q1-2 Key Points FY25 Forecast Q1-2 Full-year Operating cash flows 578.6 997.3 609.2 Core operating cash flows (*1) 513.0 920.0 503.0 Cash allocation focused on growth investments ➢ Investment amount : Max. ¥1 trillion ➢ Exit of over ¥300.0 billion is expected Net investment cash flows(*2) (192.0) (576.0) (137.0) Core free cash flows Approx. 321.0 Approx. 344.0 Approx. 366.0 Shareholder returns Dividend(*4) (143.4) (285.4) (140.7) Share buybacks (40.4) (150.0) (98.4) Total (183.8) (435.4) (239.1) (Unit: billion yen) Executing a share buyback of ¥150.0 billion for the period from May 7 to December 31, 2025. ・New Investments (266.0) ・CAPEX (126.0) Including a cash inflow of approx. ¥190.0 billion from the sale of C.P. Pokphand shares and the dividend.(*3) ＊ Record High ＊ ・EXIT 255.0 Total payout ratio aiming at 50％ ・ ¥210 per share (*5) ・ Maintain progressive dividend and increase in dividends for 11 consecutive years. ・ Share buybacks : ¥150.0 billion or more (*1) “Operating cash flows” minus “Changes in working capital” plus “Repayments of lease liabilities, etc.” (*2) Payments and collections for substantive investment and capital expenditure. “Investment cash flows” plus “Equity transaction s with non-controlling interests“ minus “Changes in loan receivables,” etc. (*3) The difference from the expected cash inflow of approximately ¥170.0 billion of the FY25 plan is mainly due to tax payments of around (¥20.0) billion related to this transaction, which are expected to be paid in FY2026. (*4) Q1-2: Interim dividend for each fiscal year, Full-year: Total of interim and year-end dividends. (*5) Amounts shown are based on the number of shares before share split (5-for-1 split of common shares) which will take effect on January 2026. ＊Record High Annual ¥200/share Interim ¥100/share Interim ¥100/share
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Copyright © ITOCHU Corporation. All Rights Reserved. Investment Results 13 FY25 Q1-2 186.0 186.0 Resource 20.0 Growth Investment 372.0 EXIT Net Investment(*2) ◆ DESCENTE (Squeeze-out) 46.2 [Q1] ◆ We Sell Cellular 6.9 [Q1] ◆ Nishimatsu Construction (Additional investment) 4.6 [Q1] ● CAPEX: FamilyMart / Dole / Prima / DAIKEN / CTC, etc. ◆ Kawasaki Motors 80.3 [Q1] ◆ Hitachi Construction Machinery (Additional investment) 35.9 [Q1] ◆ AICHI CORPORATION 23.8 [Q1] ● CAPEX: ITOCHU ENEX / C.I. TAKIRON, etc. ● CAPEX: IMEA / CIECO Azer, etc. 392.0 137.0 266.0 CAPEX 126.0 (255.0) Consumer- related sector Basic industry- related sector 405.0 176.0 Resource Non- Resource 185.0 Growth Investment 581.0 EXIT Net Investment(*2) ◆ DESCENTE (Privatized) 136.3 [Q3] ◆ WECARS 18.8 [Q1] ◆ Nishimatsu Construction (Additional investment) 15.2 [Q2-3] ◆ North American construction- materials business 8.9 [Q1-3] ◆ PASCO 8.0 [Q3-4] ● CAPEX: FamilyMart / ETEL / Dole / CTC / Prima, etc. ◆ C.I. TAKIRON (Privatized) 37.6 [Q2,Q4] ◆ North American power business 26.9 [Q1,Q3] ◆ Hitachi Construction Machinery (Additional investment) 20.2 [Q3-4] ● CAPEX: ITOCHU ENEX, etc. ◆ CM (Additional investment) 119.2 [Q3] ◆● IMEA iron ore interest / CAPEX ● CAPEX: CIECO Azer, etc. 766.0 〔121.0〕 〔86.0〕 〔207.0〕 〔30.0〕 〔237.0〕 576.0 〔192.0〕 (*2) Payments and collections for substantive investment and capital expenditure. “Investment cash flows” plus “Equity transactions with non-controlling interests” minus “Changes in loan receivables”, etc. For the acquisition and sale of subsidiaries, the in vestment and exit amounts are shown before deducting the subsidiaries’ cash and cash equivalents. (190.0) 〔(45.0)〕 Major items(*1) [Quarter mainly executed in] FY24 Overseas real estate company (Partial sale) (39.6) [Q4] FUJI OIL INTERNATIONAL (13.3) [Q4] Orient Corporation (Partial sale) (8.0) [Q3-4] ◆: New Investment ●: CAPEX (*3) The total amount from the sale of shares: ¥156.8 billion, and the dividend is approximately ¥190.0 billion. 〔 〕: amount in Q1-2 Non- Resource Consumer- related sector Basic industry- related sector Major items(*1) [Quarter mainly executed in] (Unit：billion yen) New InvestmentCAPEXNew Investment 523.0 243.0 (*1) The figures are approximate. [59.0] [23.0] [82.0] [13.0] [95.0] C.P. Pokphand (156.8) [Q1] PROVENCE HUILES (17.1) [Q1] JAMCO (Partial sale) (14.1) [Q1-2] Orient Corporation (Partial sale) (9.5) [Q2] (*3) [(54.0)] [41.0] [ ]: amount in Q2
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Copyright © ITOCHU Corporation. All Rights Reserved. Profits / Losses of Group Companies 14 FY24 Q1-2 FY25 Q1-2 Increase/ Decrease Profits of Group Companies 431.8 399.8 (32.0) Losses of Group Companies (9.5) (15.2) (5.7) Total 422.3 384.6 (37.7) Profits / Losses of Group Companies FY24 Q1-2 FY25 Q1-2 Increase / Decrease Profits Losses Total Profits Losses Total Profits Losses Total Subsidiaries 167 23 190 169 17 186 + 2 (6) (4) Associates and Joint Ventures 65 10 75 61 17 78 (4) + 7 + 3 Number of Group Companies 232 33 265 230 34 264 (2) + 1 (1) Ratio 87.5% 12.5% 100% 87.1% 12.9% 100% (0.4%) + 0.4% Number / Ratio of Group Companies Reporting Profits (*) The number of companies above includes investment companies directly invested by ITOCHU and its overseas trading subsidiaries. Investment companies that are considered as part of the parent company are not included. FY2024 Ratio of Group Companies Reporting Profits 91.6% (Unit : billion yen) Trend of Profits / Losses of Group Companies (by fiscal year) 50% 60% 70% 80% 90% 100% (200) 0 200 400 600 800 2010 2015 2020 2024 Profits of Group Companies Losses of Group Companies Profits / Losses of Group Companies Ratio of Group Companies Reporting Profits Number of Group companies 393 263 ¥791.8billion (FY) Group Companies: Profits / Losses and Ratio of Companies Reporting Profits – Yearly Trends 91.6% FY24 Ratio of Group Companies Reporting Profits 0% Reference (Unit：billion yen) Number of Group companies
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Copyright © ITOCHU Corporation. All Rights Reserved. Assumptions 15 FY24 Q1-2 FY25 Q1-2 FY25 Initial Plan (Disclosed on May 2) FY25 Revised Forecast (Disclosed on November 5) (Reference) Sensitivities on consolidated net profit for FY25 Q3-4 Exchange rate (Yen/US$) Average 152.78 146.02 140 145 1 Yen fluctuation against US$ Approx. ±¥1.6 billion (*1) Closing 149.52 148.88 140 145 － Interest rate (%) TIBOR 3M (¥) 0.34% 0.78% 1.00% 1.00% 0.1% fluctuation of interest rate － (*2) SOFR 3M (US$) 5.20% 4.24% 4.25% 4.25% － (*2) Crude oil (Brent) (US$/BBL) 81.84 67.45 65 65 ± ¥0.11 billion (*5) Iron ore (CFR China) (US$/ton) 106 (*3) 100 (*3) N.A. (*4) N.A. (*4) ± ¥0.44 billion (*5) (*1) The impact in case the average exchange rate during FY25 Q3-4 depreciated(increase)/appreciated(decrease) is shown. (*2) It is assumed that the increase/decrease in interest income/expense will be offset by the impact of interest rate fluctu ation on the transaction prices. However, in the situation that interest rate fluctuates significantly, interest cost may have temporary impact on the Com pany’s performance. (*3) FY24 Q1-2 and FY25 Q1-2 prices for iron ore are prices that ITOCHU regards as general transaction prices based on the market. (*4) The prices of iron ore used in the FY25 Forecast are assumptions made in consideration of general transaction prices based on the market. The actual prices are not presented, as they are subject to negotiation with individual customers and vary by ore type. (*5) The above sensitivities vary according to changes in sales volume, foreign exchange rates, production cost, etc. Mar. 2025 Sep. 2025
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Copyright © ITOCHU Corporation. All Rights Reserved. Grow Earnings: New Investments Acquired 20% of AND PHARMA Co., Ltd., a leading Japanese generic pharmaceutical group, for approximately ¥16.2 billion on October 1, 2025. Seven Bank Entered into a capital and business alliance agreement on September 26, 2025, and acquired 16.35% of Seven Bank, Ltd. for approximately ¥51.4 billion on October 14. Plans to increase ownership to a total of 20% and make it an equity-method affiliate. Installing advanced- function ATMs in FamilyMart Achieving further growth by accelerating horizontal collaboration centered on The 8th 28,000 units Building Japan’s largest ATM network Pursuing further business development in the financial sector, in addition to expanding revenues from ATM-related businesses at both Seven Bank and FamilyMart Improve customer convenience ✓Increase in usage Nichi-Iko Pharmaceutical Kyowa Pharmaceutical Industry the T’s Group AND PHARMA Industry - leading sales and number of products Capital and Business Alliance with Seven Bank, Ltd. Investment in AND PHARMA Co., Ltd. (Reference) Seven Bank’s FY24 net profit: ¥18.2 billion FamilyMartSeven Bank ✓Scale advantages Increase in installations Enhancing AND PHARMA’s corporate value through hands-on management, creating synergies with the ITOCHU Group, and expanding business domains in the consumer-related sector Both projects aim for a double-digit level of ROI Transitioning from a "cash-in/cash-out infrastructure" to a "multi-functional service platform" Support for research and development Building a distribution network leveraging consumer touchpoints 16 Procurement and supply of raw materials, etc. General Products & Realty ICT & Financial Business Energy & Chemicals Textile Machinery Metals & Minerals Food The 8th Providing diverse financial services Cards Offering a wide range of financial services under the FamilyMart original brand Loans Creating new business models by integrating financial operations of each company FamilyMart Nationwide network of 16,300 stores Payments Approx.
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Copyright © ITOCHU Corporation. All Rights Reserved. over10 5to10 2to5 0to 2 Group companies reporting losses 79.9 billion yen 90.6 billion yen 131.8 billion yen 470.2 billion yen ITOCHU ENEX, Hitachi Construction Machinery, DAIKEN, etc. HOKEN NO MADOGUCHI, C.I. TAKIRON, HYLIFE, ITOCHU KENZAI, etc. IFL, Dole, etc. IMEA, CITIC, FamilyMart, CTC, YANASE, etc. 9 20 22 148 28 Grow Earnings: Enhancing Hands-on Management Strengthening M&A by Group Companies 17 ITOCHU KENZAI HOKEN NO MADOGUCHI GROUP • A 100%-owned specialized trading company for building materials. • As the domestic market for detached housing continues to shrink, we aim to expand earnings in the non-residential fieldand acquired Iwano Bussan, a civil engineering materials trading companywith a long track record. ITOCHU KENZAI Iwano Bussan Acquired Case 2 Case 1 • Japan’s leading storefront retail insurance distributor; became wholly owned (100%) in FY25 Q2. • Executed four acquisitions of peer companiesin FY25 H1. Actively Promoting Asset Replacements C.P. Pokphand Approx. ¥ 160.0 bn PROVENCE HUILES Approx. ¥ 17.0 bn JAMCO Approx. ¥ 14.0 bn FY25 Exit of over ¥300.0 billion is expected ✓ Our distinctive feature is the breadth of medium-sized Group companies diversified across sectors. ✓ While enhancing our strength -hands-on management- through M&A by Group companies and horizontal collaboration, we nurture future core companies. ✓ In parallel, for low-growth businesses, consider asset replacements. Strengthening M&A by Group companies and steadily nurture medium-sized Group companies. Promoting highly efficient management by actively promotingassetreplacements. Number of group companies and profits/losses from group companies by scale (FY24 results) (Total profits/losses from group companies）(Number of companies）(Scale of profit contribution） billion yen billion yen billion yen billion yen (20.1) billion yen Promote highly efficient management Acquired other-brand insurance shop locations primarily in regions where our directly operated stores had limited coverage (e.g., Kyushu and Western Japan). In parallel, leverage AI, etc., to enhance customer experience and services, aiming to increase the number of contracts. Collaborate with Nishimatsu Construction and Oriental Shiraishi, which have strengths in civil engineering, to expand the handling volume of civil engineering materials. Contribute to social needs such as countermeasures for aging social infrastructure and disaster prevention and mitigation. Learn more about growth strategy Learn more about growth strategy
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Copyright © ITOCHU Corporation. All Rights Reserved. Recent Topics 18 Key Events CXO Presentation Event Key Press Releases August Capital and Business Alliance with Premium Group Co., Ltd. ISUZU, FamilyMart and ITOCHU Commence Demonstration of Deliveries Using Electric Trucks with Swappable Batteries in Yokohama Commencement of Discussions on a Capital and Business Alliance with Seven Bank, Ltd. Acquires Shares in AND PHARMA Co., Ltd. Start of Commercial Operation of Senri Chikudensho, a utility scale energy storage facility Launch of Business in Partnership with BELLSYSTEM24 Supporting the DX of Pharmaceutical Companies' Marketing Activities Acquisition of Import and Domestic Marketing Rights for Campbell’s, the Global Market Leader in Canned Soups Capital and Business Alliance with Seven Bank, Ltd. September Business Partnership in Food-Related Sectors with Korean Major Food Company CJ CheilJedang Implementation and Launch of Digital Advertising Based on Taste Preferences in Collaboration with Data One Formation of a Financial and Business Partnership with MOTER Technologies, a US-based Insurance Software Development Company Supply of Low-carbon Methanol Fuel for NYK Line at Port of Ulsan, South Korea Basic Agreement on Development and Licensing of Automated iPS Cell Culture Kit October Conclusion of MOU on AI-based Multilingual Dubbing Service Issuance of an Orange Bond with Funds Use Limited to Promote Women's Advancement Reinforcement of Structure for Entrusted Businesses in Post-marketing Drug Development Through A2 Healthcare Acquire interests in Ministers North Iron Ore in Western Australia URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL URL Integrated Report Briefing We held a briefing session for institutional investors and sell-side analysts to explain the role of our unique officer, the CXO (Chief Transformation Officer), in enhancing corporate value, as well as one of our key strategies, the "Digital Strategy." URL URL URL URL URL URL CXO Hiroyuki Naka General Manager, IT Digital Strategy Division Zenichiro Urakami With the aim of “keeping it simple yet communicative,” we shared our production refinements and key focuses, such as restructuring the content and creating a digest version. View presentation materials, video QA View presentation materials, video & Q&A View Integrated Report 2025 View Integrated Report 2025 URL URL URL URL URL URL ICT & Financial Machinery Food Energy & Chemicals Others Metals & Minerals The 8th Food ICT & Financial Energy & Chemicals The 8th ICT & Financial The 8th ICT & Financial Energy & Chemicals ICT & Financial ICT & Financial
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Copyright © ITOCHU Corporation. All Rights Reserved. Operating Segment Information
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 12.7 24.2 + 11.5 40.0 + 2.0 60% Core profit 12.7 23.7 + 11.0 20 FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 JOI’X (100%) ［Men’s apparel manufacture & wholesale (Paul Smith, etc.)］ 0.0 (0.0) (0.1) 1.2 1.3 LEILIAN (100%) ［Retail of women’s apparel］ (0.2) (0.2) + 0.0 0.7 0.3 DESCENTE (100%*1) ［Sportswear manufacture & retail ］ 2.8 8.5 + 5.7 13.3 7.0 DOME (69.7%) ［Sportswear manufacture & retail (UNDER ARMOUR) ］ 0.0 0.2 + 0.2 0.2 (3.4) EDWIN (100%) ［Jeans products manufacture & retail］ 0.1 0.3 + 0.2 0.5 0.4 Sankei (100%) ［Garment materials manufacture］ 1.0 0.7 (0.3) 1.5 1.6 IPA*2 (100%) ［Production control & wholesale of apparel］ 0.9 1.6 + 0.7 2.9 1.9 ITS*3 (100%) ［Production control & wholesale of textile materials / apparel］ 1.9 2.1 + 0.2 3.4 1.9 Mar. 2025 Sep. 2025 Inc / Dec Total assets 782.1 778.8 (3.3) ★ ★ (Unit : billion yen) Textile *1 ITOCHU’s ownership percentage in FY24 is: Q1 44.5%; Q2 44.4%; Q3 85.9%; Q4 100% *2 ITOCHU Textile Prominent (ASIA) Ltd. *3 ITOCHU TEXTILE (CHINA) CO., LTD. ★ Revised from the initial plan. Consolidated net profit +2.0 [38.0→40.0] In addition to profit contributions from steady PMI initiatives at DESCENTE, overseas sports-related business, OEM-related businesses including Convenience Wear, and Expo-related business have also performed well. With reduced recession risks, the initial plan has been revised upward. FY25 Revised Forecast vs. Initial Plan 【＋】 DESCENTE：Conversion into a consolidated subsidiary 【＋】 Overseas sports sector such as DESCENTE：Stable performance 【＋】 OEM-related business including Convenience Wear：Stable performance 【＋】 Expo*4-related business：Stable performance Core profit +11.0 [12.7→23.7] Extraordinary gains & losses +0.5 [ー →0.5] [Q1] Sale of fixed assets in DESCENTE : 0.5 EXIT FY24RefFY25 Q1-2 DESCENTE (Privatized) [Q3 ¥136.3bn] DESCENTE (Squeeze-out) [Q1 ¥46.2bn] Invest- ment FY25 Q1-2 : Major changes from FY24 Q1-2 Major Investments and EXIT FY25 Q1-2 *4 Expo 2025 Osaka, Kansai, Japan Major Group Companies (Ownership)［Business overview］
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Copyright © ITOCHU Corporation. All Rights Reserved. 21 FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 Tokyo Century*1 (29.9%) ［Leasing, financial services］ 11.1 Nov. 7 Nov. 7 27.8 23.1 North American power business ［Development, construction & operation of power plants］ 2.3 8.4 + 6.1 17.0 11.5 IEI*2 (100%) ［Water/environment/renewable energy development & investment in EU/ME］ 2.8 0.9 (1.9) 1.3 4.0 ITOCHU Plantech (100%) ［Plant equipment/environment business］ 0.6 0.6 (0.0) 1.7 1.7 Ship-related business ［Ship ownership, chartering, and selling］ 7.1 2.0 (5.1) 5.9 16.0 JAPAN AEROSPACE (100%) ［Import & sale of aircraft and equipment］ 1.6 2.1 + 0.5 3.0 3.3 YANASE (100%) ［Car sales & repair (Mercedes-Benz, etc.)］ 7.8 6.4 (1.4) 14.4 13.1 Overseas automobile-related business ［Dealers (U.S., Mongolia, Vietnam, etc.)］ 9.8 8.1 (1.7) 15.0 17.1 Citrus Investment (100%) ［Investment in Hitachi Construction Machinery］ 3.2 5.8 + 2.6 11.2 8.6 Kawasaki Motors*3 (20%) ［Manufacture and sales of powersport products］ ー Nov. 11 Nov. 11 (Not Disclosed) ー ITOCHU MACHINE-TECHNOS (100%) ［Machine tool sales, engineering］ 0.7 1.2 + 0.6 2.0 2.0 North American construction-machinery-related business ［Medium & small construction equipment sales］ 3.4 3.1 (0.3) 4.9 6.3 FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 63.3 76.9 + 13.6 150.0 － 51% Plant Project, Marine & Aerospace 23.2 30.4 + 7.3 57.0 + 2.0 53% Automobile, Construction Machinery & Industrial Machinery 40.1 46.5 + 6.3 93.0 (2.0) 50% Core profit 59.3 58.9 (0.4) Plant Project, Marine & Aerospace 19.7 20.4 + 0.8 Automobile, Construction Machinery & Industrial Machinery 39.6 38.5 (1.2) Mar. 2025 Sep. 2025 Inc / Dec Total assets 2,166.6 2,354.4 +187.8 ★ ★ Machinery Major Group Companies (Ownership)［Business overview］ *1 The dates above are the financial announcement date of the company. *2 I-ENVIRONMENT INVESTMENTS LIMITED *3 Disclosure of the FY25 Q1-2 Results is scheduled to take place after the partner, Kawasaki Heavy Industries, announces its financial results. *4 JAMCO Corporation has been removed from the above table due to the exclusion from the equity method investments. ★ Revised from the initial plan. 【－】 Ship-related business：Absence of the gain on the sale of ships in FY24 Q1-2 and decrease in charter income resulting from market downturn 【－】 Asian power generation company：Maintenance and repairs at power generation facilities in FY25 Q1 【－】 Overseas automobile-related business：Lower sales volume in North America and forex impact 【－】 YANASE：Absence of the surge in used car prices in FY24 Q1-2 and decrease in new car sales volume, partially offset by increased ownership 【＋】 North American power business：Increase in electricity sales revenue due to the increase in demand for electricity and the absence of implementation of maintenance in FY24 Q1-2 【＋】 Citrus Investment：Increased ownership in Hitachi Construction Machinery and increased sales in Europe/Asia Core profit (0.4) [59.3→58.9] Extraordinary gains & losses +14.0 [4.0→18.0] [Q1] Partial sale of JAMCO : 5.5 [Q2] Settlement payment in a leasing-related company : 13.0 Despite strong performance in North American power business and the effects of depreciation of yen, recession risks remain, and delays in new investments have resulted in the forecast in line with the initial plan. Consolidated net profit ±0 [150.0→150.0] North American power business [Q1,Q3 ¥26.9bn] Hitachi Construction Machinery (Additional investment) [Q3-4 ¥20.2bn] Killick (Aerospace-related company) [Q2 ¥4.4bn] Overseas Energy-from-Waste project company [Q1 ¥3.6bn] EXIT Kawasaki Motors [Q1 ¥80.3bn] Hitachi Construction Machinery (Additional investment) [Q1 ¥35.9bn] AICHI CORPORATION [Q1 ¥23.8bn] JAMCO (Partial sale) [Q1-2 ¥14.1bn] Invest- ment FY24RefFY25 Q1-2 FY24 Q1-2 FY25 Q1-2 FY25 Q1-2 : Major changes from FY24 Q1-2 FY25 Revised Forecast vs. Initial Plan [Q1] Partial sale of an Australian infrastructure company : 2.0 [Q2] Sale of an Energy-from-Waste project company in IEI : 1.5 Major Investments and EXIT (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Metals & Minerals FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 IMEA*1 (100%)［Metal and mineral resource development］ 69.1 50.5 (18.6) 116.2 127.3 Iron Ore 67.6 55.8 (11.8) (Not Disclosed) 128.1 Coal 1.4 (5.3) (6.8) (Not Disclosed) (0.7) CM*2 (18.1%)［Iron ore resource development in Brazil］ 7.9 (2.4) (10.3) (Not Disclosed) 16.9 MISI*3 (50%)［Import/export, sales, processing of steel products, etc.］ 14.7 13.8 (0.9) (Not Disclosed) 25.7 ITOCHU Metals (100%)［Non-ferrous metal trade and recycling, etc.］ 1.6 1.8 + 0.2 3.3 3.1 FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 Iron ore (million tons) 13.3 15.5 + 2.3 30.7 26.9 IMEA 11.8 12.0 + 0.2 23.8 23.1 CM 1.5 3.6 + 2.1 6.9 3.9 FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 100.4 63.5 (36.9) 170.0 (10.0) 37% Core profit 100.4 63.5 (36.9) 22 Mar. 2025 Sep. 2025 Inc / Dec Total assets 1,506.4 1,570.0 + 63.6 ★ Major Group Companies (Ownership)［Business overview］ *1 ITOCHU Minerals & Energy of Australia Pty Ltd *2 CSN Mineração S.A. JBMF [JAPÃO BRASIL MINÉRIO DE FERRO PARTICIPAÇÕES LTDA.], which is the investment and management company of CM, was presented in the above table until FY24 Q2, however, the presentation has been changed due to the conversion of CM into an investment accounted for by the equity method resulting from the additional investment in FY24 Q3. Results are the gains and losses of CM and JBMF. Since the equity pick-up of CM started in FY24 Q4, FY24 Q1-2 result is the gains and losses of JBMF. *3 Marubeni-Itochu Steel Inc. ★ Revised from the initial plan. ITOCHU’s Ownership (Sales Results) 【－】 Lower iron ore and coal prices 【－】 CM：Lower earnings due to forex valuation loss partially offset by stable operation 【－】 Aluminum and uranium transactions：Absence of favorable performance in FY24 Q1-2 【－】 MISI：Delayed recovery in steel material and steel pipe prices Core profit (36.9) [100.4→63.5] Extraordinary gains & losses ー [ー → ー] Consolidated net profit (10.0) [180.0→170.0] Although impacted by depreciation of yen, the initial plan has been revised downward due to factors such as the prolonged turnaround in the Australian coking coal project, forex valuation loss from the appreciation of the Brazilian real in CM, and others. CM (Additional investment) [Q3 ¥119.2bn] IMEA iron ore interest / CAPEX [Q1-4] CAPEX in IMEA [Q1-2 ¥13.2bn] EXIT FY24RefFY25 Q1-2 Invest- ment FY25 Revised Forecast vs. Initial Plan FY25 Q1-2 : Major changes from FY24 Q1-2 (Unit : billion yen) Major Investments and EXIT
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 33.0 37.7 + 4.7 75.0 － 50% Energy 9.9 12.0 + 2.1 25.0 (3.5) 48% Chemicals 19.4 20.4 + 1.0 41.0 + 2.0 50% Power & Environmental Solution 3.6 5.3 + 1.6 9.0 + 1.5 59% Core profit 33.0 35.2 + 2.2 Energy 9.9 9.5 (0.4) Chemicals 19.4 20.4 + 1.0 Power & Environmental Solution 3.6 5.3 + 1.6 FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 CIECO Azer*1 (100%)［Oil & gas exploration and production］ 3.4 2.6 (0.9) 3.4 5.1 IPC SPR*2 (100%)［Energy trading］ 0.6 0.9 + 0.3 1.3 1.4 ITOCHU ENEX (55.7%) ［Energy supply, mobility］ 4.3 3.9 (0.4) 8.9 9.4 Japan South Sakha Oil (33.3%)［East Siberian oil concessions］ 0.6 (1.0) (1.6) (Not Disclosed) 1.7 Dividends from LNG Projects 0.6 0.1 (0.5) 3.0 9.4 C.I. TAKIRON*3 (100%)［Packaging materials, electronics materials, synthetic resin and industrial materials trade］ 1.7 3.1 + 1.4 6.2 4.1 ICF*4 (100%)［Fine chemicals, pharmaceutical raw materials trading］ 4.6 4.6 + 0.0 9.8 9.1 CIPS*5 (100%)［Packaging goods, electronic materials, synthetic resin and industrial materials trade］ 2.4 3.1 + 0.7 5.8 5.1 FY25 Forecast FY24 Oil & Gas (1,000BBL/day) *6 25 23 23 (Unit : billion yen) ITOCHU’s Ownership (Sales Results) Mar. 2025 Sep. 2025 Inc / Dec Total assets 1,652.0 1,707.5 + 55.4 ★ ★ ★ Energy & Chemicals FY24RefFY25 Q1-2 【＋】 Energy transactions：Improvement in profitability in LNG transactions 【＋】 C.I. TAKIRON：Increased ownership and increase in transactions of film business 【＋】 CIPS：Increase in transactions of packaging goods and electronic materials 【＋】 Electricity transactions：Higher transaction volume 【－】 Japan South Sakha Oil：Lower production volume and forex valuation loss on foreign currency deposits 【－】 CIECO Azer：Lower sales prices Core profit +2.2 [33.0→35.2] Extraordinary gains & losses +2.5 [ー →2.5] Consolidated net profit ±0 [75.0→75.0] Although a decrease in dividend income from certain interests in Energy is expected, Chemicals and Power & Environmental Solution have been performing steadily. With reduced recession risks, the forecast is in line with the initial plan. C.I. TAKIRON (Privatized) [Q2,Q4 ¥37.6bn] CAPEX in ITOCHU ENEX [¥16.3bn] CAPEX in CIECO Azer [¥11.1bn] Overseas energy-related company (Additional investment) [Q4 ¥5.8bn] CAPEX in ITOCHU ENEX [Q1-2 ¥7.1bn] CAPEX in C.I. TAKIRON [Q1-2 ¥5.5bn] CAPEX in CIECO Azer [Q1-2 ¥3.2bn] EXIT Invest- ment FY25 Revised Forecast vs. Initial Plan FY25 Q1-2 : Major changes from FY24 Q1-2 [Q2] Conversion of an overseas energy-related company into a consolidated subsidiary : 2.5 *1 ITOCHU Oil Exploration (Azerbaijan) Inc. *2 ITOCHU PETROLEUM CO., (SINGAPORE) PTE. LTD. *3 ITOCHU’s ownership percentage in FY24 is: Q1 55.7%; Q2 90.7%; Q3-Q4 100% *4 ITOCHU CHEMICAL FRONTIER Corporation *5 ITOCHU PLASTICS INC. *6 Natural Gas converted to crude oil is equivalent to 6,000cf =1BBL ★ Revised from the initial plan. Major Group Companies (Ownership)［Business overview］ Major Investments and EXIT FY25 Q1-2
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 40.2 53.9 + 13.7 92.0 + 2.0 59% Provisions 12.1 26.8 + 14.7 42.0 + 1.0 64% Fresh Food 9.8 9.7 (0.2) 18.0 － 54% Food Product Marketing & Distribution 18.3 17.5 (0.8) 32.0 + 1.0 55% Core profit 36.7 45.9 + 9.2 Provisions 11.1 18.8 + 7.7 Fresh Food 8.8 9.7 + 0.8 Food Product Marketing & Distribution 16.8 17.5 + 0.7 Mar. 2025 Sep. 2025 Inc / Dec Total assets 2,359.8 2,331.5 (28.3) (Unit : billion yen) FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 FUJI OIL (43.8%) ［Vegetable oil and soy product manufacturing］ (2.0) Nov. 11 Nov. 11 7.2 (1.9) WELLNEO SUGAR (37.0%) ［Manufacture, process and sale of sugar and functional materials］ 1.3 Nov. 7 Nov. 7 2.2 2.1 ITOCHU FEED MILLS (100%) ［Feed production and distribution］ 0.9 0.9 + 0.0 1.7 1.8 Dole*1 (100%) ［Fresh produce (Asia), packaged food (global) sales］ 0.3 1.5 + 1.2 2.6 (1.4) Prima*2 (48.7%) ［Processed meat & food manufacturing, sales］ 1.5 1.7 + 0.2 3.9 2.2 HYLIFE*3 (49.9%) ［Pork production and processing in Canada］ 0.9 1.8 + 0.9 (Not Disclosed) 3.0 NIPPON ACCESS (100%) ［Domestic food wholesale］ 13.6 13.8 + 0.2 23.0 23.8 ITOCHU-SHOKUHIN (52.5%) ［Domestic food wholesale］ 2.7 2.7 (0.0) 4.4 4.3 24 Food Extraordinary gains & losses +4.5 [3.5→8.0] 【＋】 Provisions-related transactions/companies：Higher transaction volume and improvement in profitability 【＋】 Dole：Higher production volume of bananas 【＋】 HYLIFE：Higher transaction volume and improvement in profitability 【＋】 NIPPON ACCESS/ITOCHU-SHOKUHIN：Expansion of transactions [Q1] Sale of PROVENCE HUILES : 8.0 Core profit +9.2 [36.7→45.9] Consolidated net profit +2.0 [90.0→92.0] In addition to the extraordinary gain from asset replacement, provisions-related transactions/companies, and food product marketing & distribution businesses have performed steadily, leading to an upward revision of the initial plan. FY24RefFY25 Q1-2 EXIT Invest- ment CAPEX in Prima [¥12.3bn] CAPEX in Dole [¥11.6bn] CAPEX in Dole [Q1-2 ¥9.1bn] CAPEX in Prima [Q1-2 ¥7.9bn] PROVENCE HUILES [Q1 ¥17.1bn] FUJI OIL INTERNATIONAL [Q4 ¥13.3bn] FY25 Revised Forecast vs. Initial Plan FY25 Q1-2 : Major changes from FY24 Q1-2 [Q1] Sale of companies in a vegetable oil production and sale company : 1.0 [Q2] Partial sale of Confex Holdings (food-distribution-related company) : 1.5 Sale of JAPAN FOODS : 1.0 *1 Dole International Holdings, Inc. *2 Prima Meat Packers, Ltd. *3 HYLIFE GROUP HOLDINGS LTD. Note: The dates above are the financial announcement date of each company. Major Investments and EXIT FY24 Q1-2 FY25 Q1-2 Major Group Companies (Ownership)［Business overview］
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 31.2 19.0 (12.1) 65.0 － 29% Forest Products, General Merchandise & Logistics 16.6 10.0 (6.5) 38.0 － 26% Construction & Real Estate 14.6 9.0 (5.6) 27.0 － 33% Core profit 29.2 18.0 (11.1) Forest Products, General Merchandise & Logistics 14.6 9.0 (5.5) Construction & Real Estate 14.6 9.0 (5.6) 25 (Unit : billion yen) FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 North American construction-materials business*1 ［Exterior and housing materials manufacturing and wholesale］ 12.1 10.5 (1.6) 18.0 17.9 ETEL*2 (100%)［Tire wholesale/retail, waste collection/processing in EU］ 2.5 1.1 (1.4) 5.0 7.0 IFL*3 (100%)［Investment in Metsä*4, pulp trade］ (0.8) (5.1) (4.3) (Not Disclosed) (1.5) ITOCHU LOGISTICS (100%)［Comprehensive logistics services］ 2.9 3.2 + 0.2 6.0 5.6 IPP*5 (100%)［Paper, board, paper products trade］ 1.3 1.6 + 0.3 2.5 3.0 ITOCHU CERATECH (100%)［Ceramics manufacturing, sales］ 0.3 0.4 + 0.1 0.7 0.6 IPD*6 (100%) ［Real estate development and sales］ 4.9 2.2 (2.8) 5.0 5.7 DAIKEN(100%)［Interior materials/wood products manufacturing, install］ 3.8 1.8 (2.1) 8.0 6.6 Nishimatsu Construction(21.9%) ［Construction, development and realty］ ー Nov. 7 Nov. 7 3.5 － ITOCHU KENZAI (100%)［Timber, building materials trade］ 1.9 1.8 (0.2) 4.0 3.8 IUC*7 (100%) ［Property management, facility operation］ 0.9 1.1 + 0.2 1.8 1.7 Mar. 2025 Sep. 2025 Inc / Dec Total assets 1,475.0 1,524.5 + 49.5 【－】 IFL：Downturn in pulp prices and increase in costs 【－】 ITOCHU Property Development：Absence of concentrated sales of comprehensive development projects in FY24 Q1-2 【－】 DAIKEN：Deterioration in profitability in domestic business and lower earnings in overseas business 【－】 North American construction-materials business：Underperformance of housing structural materials business 【＋】 Nishimatsu Construction：Start of equity pick-up 【＋】 Indonesian processing of natural rubber company：Higher sales volume Core profit (11.1) [29.2→18.0] Extraordinary gains & losses (1.0) [2.0→1.0] Consolidated net profit ±0 [65.0→65.0] FY2025 Q1 FY24RefFY25 Q1-2 EXIT Invest- ment CAPEX in DAIKEN [Q1-2 ¥6.3bn] Nishimatsu Construction (Additional investment) [Q1 ¥4.6bn] WECARS [Q1 ¥18.8bn] Nishimatsu Construction (Additional investment) [Q2-3 ¥15.2bn] North American construction-materials business [Q1-3 ¥8.9bn] FY25 Revised Forecast vs. Initial Plan FY25 Q1-2 : Major changes from FY24 Q1-2 [Q2] Sale of Albany Bulk Handling (port cargo handling company) : 1.0 [Q1] Reversal for allowance in ETEL : 1.0 Due to sluggish performance at IFL, progress in H1 was low. However, with real estate sales concentrated in H2 and profit contributions expected from new investments, the forecast is in line with the initial plan. *1 The figures include net profit through DAIKEN (CIPA Lumber Co. Ltd. 51.0%, Pacific Woodtech Corporation 25.0%, etc.) , with actual results of ¥1.7 billion for FY24 Q1-2 and ¥1.0 billion for FY25 Q1-2. *2 European Tyre Enterprise Limited *3 ITOCHU FIBRE LIMITED *4 Metsä Fibre Oy (One of the world’s largest manufacturers of commercial softwood pulp) *5 ITOCHU PULP & PAPER CORPORATION *6 ITOCHU Property Development, Ltd. *7 ITOCHU Urban Community Ltd. Note: The dates above are the financial announcement date of each company. General Products & Realty Major Investments and EXIT FY24 Q1-2 FY25 Q1-2 Major Group Companies (Ownership)［Business overview］
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 37.8 40.0 + 2.2 88.0 + 1.0 45% ICT 28.9 29.8 + 0.9 71.0 － 42% Financial & Insurance Business 8.9 10.2 + 1.3 17.0 + 1.0 60% Core profit 37.8 39.5 + 1.7 ICT 28.9 29.8 + 0.9 Financial & Insurance Business 8.9 9.7 + 0.8 (Unit : billion yen) FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 CTC*1 (99.95%)［System integrator］ 21.5 24.4 + 2.9 55.0 50.5 BELLSYSTEM24*2 (40.3%)［BPO, call center operations］ 0.7 1.1 + 0.3 3.3 2.0 Mobile-phone-related business 6.0 4.8 (1.3) 4.7 10.5 ITOCHU Fuji Partners (63.0%)［Investment in SKY Perfect JSAT*3］ 1.4 Nov. 5 Nov. 5 3.6 2.7 A2 Healthcare (100%)［Pharma development support, CRO services］ 0.6 0.7 + 0.1 2.2 1.7 HOKEN NO MADOGUCHI (100.0%)［Insurance consulting, sales］ 2.3 2.9 + 0.6 (Not Disclosed) 4.9 POCKET CARD*4 (78.2%)［Credit card issuance, financial services］ 2.6 2.1 (0.5) 2.8 4.2 Gaitame.Com (40.2%)［FX trading services］ 1.0 1.5 + 0.5 (Not Disclosed) 1.5 FRF*5 (100%) ［Auto loan business in the UK］ 0.9 1.1 + 0.3 3.4 2.4 IFA*6 (100%) ［Consumer finance business in China and Hong Kong］ 1.5 1.7 + 0.2 2.8 2.5 GCT*7 (100%) ［Consumer finance business in Thailand］ 2.0 2.5 + 0.5 (Not Disclosed) 4.3 26 Mar. 2025 Sep. 2025 Inc / Dec Total assets 1,439.2 1,485.0 + 45.8 FY25 Revised Forecast vs. Initial Plan 【＋】 CTC：Favorable performance 【＋】 HOKEN NO MADOGUCHI GROUP：Higher agency commissions 【＋】 Improvement in remeasurement gains and losses for fund held investments 【＋】 Overseas retail-finance-related companies：Improvement in profitability 【－】 Mobile-phone-related business：Lower earnings due to contract changes 【－】 Orient Corporation：Exclusion from the equity method investments Core profit +1.7 [37.8→39.5] Extraordinary gains & losses +0.5 [ー →0.5] FY24RefFY25 Q1-2 EXIT Invest- ment PASCO [Q3-4 ¥8.0bn]We Sell Cellular [Q1 ¥6.9bn] (Used mobile device distribution business in the U.S.) CTC CAPEX [Q1-2 ¥5.0bn] Orient Corporation (Partial sale) [Q3-4 ¥8.0bn] FY25 Q1-2 : Major changes from FY24 Q1-2 [Q2] Sale of commercial rights in a finance-related company : 0.5 Consolidated net profit +1.0 [87.0→88.0] CTC has performed well due to continued robust demand for digitalization. In addition, steady performance by HOKEN NO MADOGUCHI GROUP and overseas retail-finance companies has led to an upward revision of the initial plan. Orient Corporation (Partial sale) [Q2 ¥9.5bn] *1 ITOCHU Techno-Solutions Corporation *2 BELLSYSTEM24 Holdings, Inc. *3 SKY Perfect JSAT Holdings Inc. *4 The figures include net profit through FamilyMart Co., Ltd. (32.2%) *5 First Response Finance Ltd. *6 ITOCHU FINANCE (ASIA) LTD. *7 GCT MANAGEMENT (THAILAND) LTD. Note: The dates above are the financial announcement date of each company. ICT & Financial Business Major Investments and EXIT FY25 Q1-2 Major Group Companies (Ownership)［Business overview］
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 54.2 32.4 (21.8) 39.0 + 4.0 83% Core profit 24.7 31.4 + 6.7 *2 Average daily sales of all chain stores include the figures of domestic area franchise. *3 The growth rate of daily sales at existing stores excludes the impact of services (pre -paid cards and tickets), etc. (Unit : billion yen) FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 FamilyMart*1 (94.7%) ［Convenience store business］ 57.9 37.3 (20.5) 46.0 69.8 FY24 Q1-2 FY25 Q1-2 FY24 Average daily sales of all chain stores (thousand yen)*2 573 595 573 Growth rate of daily sales at existing stores*3 102.7% 104.1% 102.9% Growth rate of number of customers 100.6% 99.9% 100.4% Growth rate of spend per customer 102.2% 104.3% 102.5% Daily sales of new stores (thousand yen) 542 542 540 Major Indicators of FamilyMart 27 Mar. 2025 Sep. 2025 Inc / Dec Total assets 2,014.2 2,141.1 +126.9 ★ Core profit +6.7 [24.7→31.4] Extraordinary gains & losses (28.5) [29.5→1.0] 【＋】 FamilyMart 〔＋〕 Increase in daily sales resulting from enhancement of product appeal and sales promotion 〔＋〕 Strengthening of business foundations such as the reorganization of store network 〔＋〕 Expansion of transactions in new businesses 〔－〕 Increase in costs caused by changes in external environment FamilyMart has performed strongly, resulting in an upward revision of the initial plan. FY2025 Q1 FY24RefFY25 Q1-2 EXIT Invest- ment CAPEX in FamilyMart [¥49.0bn]CAPEX in FamilyMart [Q1-2 ¥22.3bn] Consolidated net profit +4.0 [35.0→39.0] FY2025 Q1-2FY25 Revised Forecast vs. Initial Plan FY25 Q1-2 : Major changes from FY24 Q1-2 [Q1] Improvement of tax expenses in FamilyMart : 1.0 [Q2] Group reorganization of Chinese business in FamilyMart : 29.5 The 8th *1 The figures include net profit from POCKET CARD CO.,LTD. (32.2%) ★ Revised from the initial plan. Major Investments and EXIT FY24 Q1-2 FY25 Q1-2 Major Group Companies (Ownership)［Business overview］
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Copyright © ITOCHU Corporation. All Rights Reserved. FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY25 vs Plan Progress Consolidated net profit 65.6 152.5 + 86.9 181.0 + 1.0 84% Core profit 62.1 62.5 + 0.4 Others, Adjustments & Eliminations FY24 Q1-2 FY25 Q1-2 Inc / Dec FY25 Forecast FY24 Orchid*1 (100%) ［Investment in CITIC Limited］ 62.6 59.1 (3.5) 98.0 114.1 CTEI*2 (23.8%) ［Feed additives, construction equipment sales in China ］ 0.1 0.6 + 0.5 (Not Disclosed) 0.4 FY24 Q1-2 FY25 Q1-2 Inc / Dec ITOCHU International 14.5 13.5 (1.0) ITOCHU Europe 1.7 1.7 + 0.0 ITOCHU (CHINA) HOLDING 2.9 3.5 + 0.6 ITOCHU Hong Kong 2.8 2.8 (0.1) ITOCHU Singapore 3.5 3.0 (0.5) (Reference) Overseas Trading Subsidiaries *4 *1 Orchid Alliance Holdings Limited, *2 Chia Tai Enterprises International Limited *3 C.P. Pokphand Co. Ltd. has been removed from the above table due to the exclusion from the equity method investments. ★ Revised from the initial plan *4 Net profits of each overseas trading subsidiary included in each segment are presented. 28 Mar. 2025 Sep. 2025 Inc / Dec Total assets 1,738.8 1,693.1 (45.6) ★ 【－】 Orchid：Nearly same level 〔－〕 Appreciation of the yen 〔＋〕 Decrease in interest expenses 〔＋〕 CITIC Limited：Stable performance in comprehensive financial services segment Core profit +0.4 [62.1→62.5] Extraordinary gains & losses +86.5 [3.5→90.0] Consolidated net profit +1.0 [180.0 → 181.0 ] In addition to gains from the sale of C.P. Pokphand, CITIC has performed steadily. Combined with the effects of depreciation of yen, the initial plan has been revised upward. [Q1] Sale of C.P. Pokphand : 88.0 [Q2] Improvement in tax expenses related to an overseas company : 2.0 FY2025 Q1 FY24RefFY25 Q1-2 EXIT Invest- ment Sale of C.P. Pokphand [Q1 ¥156.8bn] *5 *5 The total amount from the sale of shares: ¥156.8 billion, and the dividend is approximately ¥190.0 billion. FY25 Revised Forecast vs. Initial Plan FY25 Q1-2 : Major changes from FY24 Q1-2 [Q2] Partial sale of a group company in CITIC Limited : 3.5 (Unit : billion yen) Major Investments and EXIT FY24 Q1-2 FY25 Q1-2 Major Group Companies (Ownership)［Business overview］
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Copyright © ITOCHU Corporation. All Rights Reserved. 29 Investors Guide Areas with High Growth Potential by Segments A concise overview of ITOCHU’s business and strategy, mainly for institutional investors The growth potential areas in each of the eight segments PDF FILE PDF FILE PDF FILE PDF FILE Please visit our website for the most recent earnings releases. https://www.itochu.co.jp/en/ir/financial_statements/ IR supplementary materials
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Copyright © ITOCHU Corporation. All Rights Reserved. Appendix
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Copyright © ITOCHU Corporation. All Rights Reserved. 31 FY24 Q1-2 Major items FY25 Q1-2 Major items [Q2] [Q2] Textile － － 0.5 ー [Q1] Sale of fixed assets in DESCENTE : 0.5 Machinery 4.0 2.0 [Q1] Partial sale of an Australian infrastructure company : 2.0 [Q2] Sale of an Energy-from-Waste project company in IEI : 1.5 [Q2] Partial sale of CONSORCIO INDUSTRIAL PUEBLA (construction-machinery-related company) : 0.5 18.0 12.5 [Q1] Partial sale of JAMCO : 5.5 [Q2] Settlement payment in a leasing-related company : 13.0 [Q2] Improvement in tax expenses due to the amendment to the Japan-Ukraine tax convention : 0.5 [Q2] Impairment loss on fixed assets in a leasing-related company : (1.0) Metals & Minerals － － ー ー Energy & Chemicals － － 2.5 2.5 [Q2] Conversion of an overseas energy-related company into a consolidated subsidiary : 2.5 Food 3.5 2.5 [Q1] Sale of companies in a vegetable oil production and sale company : 1.0 [Q2] Partial sale of Confex Holdings (food-distribution-related company) : 1.5 [Q2] Sale of JAPAN FOODS : 1.0 8.0 ー [Q1] Sale of PROVENCE HUILES : 8.0 General Products & Realty 2.0 0.5 [Q1] Reversal for allowance in ETEL : 1.0 [Q1] Sale of an overseas sawn timber business in IFL : 0.5 [Q2] Change in ownership form of store assets in ETEL : 0.5 1.0 1.0 [Q2] Sale of Albany Bulk Handling (port cargo handling company) : 1.0 ICT & Financial Business － － 0.5 0.5 [Q2] Sale of commercial rights in a finance-related company : 0.5 8th 29.5 29.5 [Q2] Group reorganization of Chinese business in FamilyMart : 29.5 1.0 ー [Q1] Improvement of tax expenses in FamilyMart : 1.0 Others, Adjustments & Eliminations 3.5 3.5 [Q2] Partial sale of a group company in CITIC Limited : 3.5 90.0 2.0 [Q1] Sale of C.P. Pokphand : 88.0 [Q2] Improvement in tax expenses related to an overseas company, etc. : 2.0 Total 42.5 38.0 [Q1-2] Non-Resource : 42.5, Resource : ー , Others : ー 121.5 18.5 [Q1-2] Non-Resource : 117.0, Resource : 2.5 , Others : 2.0 (Unit : billion yen) Extraordinary Gains and Losses (*) Extraordinary gains and losses are presented in 0.5 billion yen units.
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Copyright © ITOCHU Corporation. All Rights Reserved. Consolidated Statement of Comprehensive Income 32 FY24 Q1-2 FY25 Q1-2 Increase/ Decrease Summary of changes Revenues 7,291.3 7,249.2 (42.1) 【－】 Metals & Minerals, Energy & Chemicals, and General Products & Realty 【＋】 Food, Textile, and ICT & Financial Business Gross trading profit 1,166.5 1,209.6 + 43.1 【＋】 Textile, ICT & Financial Business, and The 8th 【－】 Metals & Minerals Selling, general and administrative expenses (794.0) (847.8) (53.8) 【－】 Conversion into a consolidated subsidiary of DESCENTE in the third quarter of the previous fiscal year 【－】 Increase in personnel expenses Provision for doubtful accounts (5.8) (7.7) (1.9) 【－】 Increase in provision for doubtful accounts in general receivables Trading income 366.7 354.1 (12.6) 【－】 Metals & Minerals, General Products & Realty 【＋】 The 8th, Textile, and Food Gains (losses) on investments 4.9 136.0 + 131.1 【＋】 Sale of C.P. Pokphand 【＋】 Sale of PROVENCE HUILES 【＋】 Partial sale of JAMCO Gains (losses) on property, plant, equipment and intangible assets 1.2 (0.2) (1.3) 【－】 Absence of the gain on the sale of ships in FY24 Q1-2 【＋】 Sale of fixed assets in DESCENTE Other-net 20.9 11.3 (9.6) 【－】 Decrease in foreign exchange gains and losses Net interest expenses (24.7) (28.6) (3.9) 【－】 Deterioration in net interest expenses due to higher yen interest rate Dividends received 41.4 29.0 (12.4) 【－】 Decrease in dividends received from investees Equity in earnings of associates and joint ventures 191.8 160.2 (31.6) 【－】 The 8th 【＋】 Machinery Profit before tax 602.3 662.0 + 59.7 Income tax expense (127.5) (143.1) (15.6) 【－】 Increase of profit before tax Net Profit 474.7 518.8 + 44.1 Net profit attributable to ITOCHU 438.4 500.3 + 61.8 Total comprehensive income attributable to ITOCHU 309.8 558.1 + 248.3 【＋】 Improvement in translation adjustments (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Consolidated Financial Position 33 Mar. 31, 2025 Sep. 30, 2025 Increase/ Decrease Total assets 15,134.3 15,586.0 + 451.7 Interest-bearing debt 3,550.8 3,485.1 (65.6) Net interest-bearing debt 2,961.3 2,859.4 (101.9) Total shareholders' equity 5,755.1 6,060.9 + 305.8 Ratio of shareholders' equity to total assets 38.0% 38.9% Increased 0.9pt NET DER (times) 0.51 0.47 Improved 0.04pt Mar. 31, 2025 Sep. 30, 2025 15,134.3 15,586.0 782.1 778.8 2,166.6 2,354.4 Plant Project, Marine & Aerospace 1,008.7 1,023.2 Automobile, Construction Machinery & Industrial Machinery 1,157.9 1,331.2 1,506.4 1,570.0 1,652.0 1,707.5 Energy 847.6 919.8 Chemicals 648.8 640.3 Power & Environmental Solution 155.7 147.4 2,359.8 2,331.5 Provisions 648.1 578.9 Fresh Food 751.7 754.1 Food Products Marketing & Distribution 960.0 998.5 1,475.0 1,524.5 Forest Products, General Merchandise & Logistics 852.4 867.0 Construction & Real Estate 622.6 657.5 1,439.2 1,485.0 ICT 836.5 869.5 Financial & Insurance Business 602.8 615.6 2,014.2 2,141.1 1,738.8 1,693.1 Textile Machinery Consolidated total Others, Adjustments & Eliminations Metals & Minerals Energy & Chemicals Food General Products & Realty ICT & Financial Business The 8th (Unit : billion yen) • Balance Sheet（Sep. 30, 2025） Trading-related 4.8 Others 1.2 Others 1.2 Property, plant and equipment, etc. 2.3 Investment-related 6.2 Current liabilities 4.6 Non-current liabilities 4.4 Non-controlling interests 0.6 Shareholders’ equity 6.1 Current assets 6.0 Non-current assets 9.6 Interest-bearing debt 3.5 Total assets: 15.6 • Total assets (Unit : billion yen) (Unit : trillion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Consolidated Statement of Cash Flows (Major items) 34 FY24 Q1-2 Reference information FY25 Q1-2 Reference information Net profit 474.7 Depreciation and amortization +219.8 Textile +4.5, Machinery +12.0, Metals & Minerals +12.6, Energy & Chemicals +25.8, Food +27.2, General Products & Realty +22.1, ICT & Financial Business +12.7, The 8th +97.7, Others, Adjustments & Eliminations +5.2 Trade receivables / payables +53.6, Inventories (102.9), Others (6.9) 518.8 Depreciation and amortization +224.7 Textile +7.9, Machinery +9.7, Metals & Minerals +12.2, Energy & Chemicals +25.3, Food +30.8, General Products & Realty +22.1, ICT & Financial Business +13.0, The 8th +97.7, Others, Adjustments & Eliminations +6.2 Trade receivables / payables +41.3, Inventories (85.0), Others +28.3 Non-cash items in net profit 135.9 74.5 Changes in assets and liabilities, other-net (56.3) (15.4) Others 24.3 31.3 Cash flows from operating activities 578.6 (Reference) Dividends received from associates and joint ventures +108.0 609.2 (Reference) Dividends received from associates and joint ventures +148.6 Net change in investments accounted for by the equity method (23.3) Investment in a North American power business (10.2), Investment in an aerospace-related company (4.4), Investment in an overseas Energy-from-Waste project company (3.6), Investment in a North American renewable energy fund (2.8), Investment in WECARS (1.0) (2.1) Investment in Kawasaki Motors (80.3), Additional investment in Hitachi Construction Machinery (35.9), Investment in AICHI CORPORATION (23.8), Additional investment in Nishimatsu Construction (4.6), Sale of C.P. Pokphand +156.8, Partial sale of JAMCO +7.9 Net change in other investments (43.4) Investment in WECARS (17.8), Investments in iron ore and coal-related business and others (9.3), Investment in Nishimatsu Construction (9.2), Capital expenditure by CIECO Azer (4.0), Investment in a Canadian wood board company (3.5), Sale of companies in a vegetable oil production and sale company +3.9, Partial sale of a Chinese meat processing company +3.1, Partial sale of an Australian infrastructure company +2.5 20 .2 Sale of PROVENCE HUILES +16.7, Partial sale of Orient Corporation +9.5, Partial sale of JAMCO +6.2, Investment in We Sell Cellular (6.3), Capital expenditure by CIECO Azer (3.2) Net change in property, plant, equipment and intangible assets (94.4) Purchase by FamilyMart (28.8), Capital expenditure by IMEA (13.6), Purchase by ETEL (9.4), Purchase by ITOCHU ENEX (8.4), Purchase by Prima (5.0), Purchase by CTC (4.5), Purchase by Dole (4.5) (115.5) Purchase by FamilyMart (22.3), Capital expenditure by IMEA (13.2), Purchase by Dole (9.1), Purchase by Prima (7.9), Purchase by ITOCHU ENEX (7.1), Purchase by DAIKEN (6.3), Purchase by C.I. TAKIRON (5.5), Purchase by CTC (5.0) Others (1.4) 16.4 Collection of loan to holding company of CITIC Limited and others +16.1 Cash flows from investing activities (162.5) (80.9) Cash flows from financing activities (412.0) Cash dividends (115.2), Share buybacks (Shareholder Returns) (40.4), Repayments of lease liabilities (126.3), Repayments of debentures and loans payable (74.6), Additional investment in C.I. TAKIRON (29.8) (498.6) Cash dividends (142.0), Share buybacks (Shareholder Returns) (98.4), Repayments of lease liabilities (126.6), Repayments of debentures and loans payable (62.0), Additional investment in DESCENTE (46.2) (Unit : billion yen) etc. etc. etc. etc. etc. etc. etc.
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Copyright © ITOCHU Corporation. All Rights Reserved. Operating Segment Information (Net profit attributable to ITOCHU) 35 Q1 Q2 Q2 Q4 Yearly Q1 Q2 Q3 Q4 Yearly Consolidated Total 206.6 231.8 238.0 203.8 880.3 283.9 216.3 ー ー 500.3 5.3 7.4 57.8 3.4 73.8 8.9 15.3 ー ー 24.2 34.0 29.3 40.5 32.7 136.5 32.0 44.9 ー ー 76.9 Plant Project, Marine & Aerospace 11.9 11.2 19.7 14.0 56.9 13.8 16.7 ー ー 30.4 Automobile, Construction Machinery & Industrial Machinery 22.1 18.0 20.8 18.7 79.6 18.3 28.2 ー ー 46.5 52.5 47.9 32.7 45.2 178.4 33.6 30.0 ー ー 63.5 17.8 15.2 17.6 28.0 78.6 19.5 18.2 ー ー 37.7 Energy 5.2 4.7 3.4 22.7 35.9 5.1 6.9 ー ー 12.0 Chemicals 10.3 9.2 11.3 3.0 33.7 11.1 9.3 ー ー 20.4 Power & Environmental Solution 2.4 1.2 3.0 2.3 8.9 3.3 1.9 ー ー 5.3 19.0 21.2 19.8 25.1 85.1 28.8 25.1 ー ー 53.9 Provisions 8.2 3.9 8.8 12.5 33.3 17.5 9.2 ー ー 26.8 Fresh Food 4.1 5.7 2.5 5.6 18.0 4.6 5.1 ー ー 9.7 Food Products Marketing & Distribution 6.7 11.6 8.5 7.0 33.8 6.7 10.8 ー ー 17.5 18.8 12.4 11.5 27.0 69.7 11.2 7.8 ー ー 19.0 Forest Products, General Merchandise & Logistics 8.5 8.1 5.6 8.0 30.2 6.1 3.9 ー ー 10.0 Construction & Real Estate 10.4 4.3 5.9 19.0 39.5 5.1 3.9 ー ー 9.0 16.0 21.9 20.2 25.2 83.2 16.1 23.9 ー ー 40.0 ICT 11.9 17.0 15.4 21.1 65.4 11.9 17.9 ー ー 29.8 Financial & Insurance Business 4.1 4.8 4.8 4.1 17.8 4.2 6.0 ー ー 10.2 10.9 43.3 9.7 1.2 65.1 15.4 17.0 ー ー 32.4 32.2 33.4 28.3 15.9 109.9 118.4 34.2 ー ー 152.5 Energy & Chemicals FY25FY24 Textile Machinery Metals & Minerals Others, Adjustments & Eliminations The 8th ICT & Financial Business General Products & Realty Food (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Operating Segment Information (Core profit) 36 Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly Consolidated Total(*1) 202.0 194.0 185.5 188.5 770.0 181.0 198.0 ー ー 379.0 5.3 7.4 7.8 7.9 28.3 8.4 15.3 ー ー 23.7 32.0 27.3 40.5 32.7 132.5 26.5 32.4 ー ー 58.9 Plant Project, Marine & Aerospace 9.9 9.7 19.7 14.5 53.9 8.3 12.2 ー ー 20.4 Automobile, Construction Machinery & Industrial Machinery 22.1 17.5 20.8 18.2 78.6 18.3 20.2 ー ー 38.5 52.5 47.9 32.7 45.2 178.4 33.6 30.0 ー ー 63.5 17.8 15.2 17.1 24.5 74.6 19.5 15.7 ー ー 35.2 Energy 5.2 4.7 3.4 16.2 29.4 5.1 4.4 ー ー 9.5 Chemicals 10.3 9.2 10.8 8.5 38.7 11.1 9.3 ー ー 20.4 Power & Environmental Solution 2.4 1.2 3.0 (0.2) 6.4 3.3 1.9 ー ー 5.3 18.0 18.7 19.8 16.6 73.1 20.8 25.1 ー ー 45.9 Provisions 7.2 3.9 7.8 8.5 27.3 9.5 9.2 ー ー 18.8 Fresh Food 4.1 4.7 3.5 3.1 15.5 4.6 5.1 ー ー 9.7 Food Products Marketing & Distribution 6.7 10.1 8.5 5.0 30.3 6.7 10.8 ー ー 17.5 17.3 11.9 11.5 14.0 54.7 11.2 6.8 ー ー 18.0 Forest Products, General Merchandise & Logistics 7.0 7.6 5.6 5.5 25.7 6.1 2.9 ー ー 9.0 Construction & Real Estate 10.4 4.3 5.9 8.5 29.0 5.1 3.9 ー ー 9.0 16.0 21.9 18.2 26.2 82.2 16.1 23.4 ー ー 39.5 ICT 11.9 17.0 15.4 21.6 65.9 11.9 17.9 ー ー 29.8 Financial & Insurance Business 4.1 4.8 2.8 4.6 16.3 4.2 5.5 ー ー 9.7 10.9 13.8 9.7 0.2 34.6 14.4 17.0 ー ー 31.4 32.2 29.9 28.3 21.4 111.9 30.4 32.2 ー ー 62.5 Others, Adjustments & Eliminations The 8th ICT & Financial Business General Products & Realty Food Energy & Chemicals FY25FY24 Textile Machinery Metals & Minerals (*1) Consolidated total figures are approximate. (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Operating Segment Information (Gross trading profit) 37 Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly Consolidated Total 588.6 577.9 604.5 605.5 2,376.5 595.4 614.2 ー ー 1,209.6 29.4 32.8 51.8 54.9 169.0 45.4 53.8 ー ー 99.1 62.4 67.9 70.4 65.6 266.4 62.1 66.9 ー ー 129.0 Plant Project, Marine & Aerospace 16.7 18.1 25.5 20.3 80.6 19.2 20.5 ー ー 39.7 Automobile, Construction Machinery & Industrial Machinery 45.7 49.8 45.0 45.4 185.8 42.9 46.4 ー ー 89.3 55.2 40.4 35.3 41.4 172.3 38.3 31.8 ー ー 70.1 70.8 67.8 69.0 67.9 275.4 71.7 67.2 ー ー 138.9 Energy 29.8 28.7 28.0 34.0 120.5 30.2 29.8 ー ー 60.0 Chemicals 36.3 35.1 36.8 32.2 140.4 36.4 35.0 ー ー 71.5 Power & Environmental Solution 4.7 3.9 4.2 1.8 14.6 5.1 2.3 ー ー 7.4 99.4 104.1 102.4 94.2 400.2 103.1 108.0 ー ー 211.1 Provisions 15.8 14.2 15.0 14.1 59.1 18.5 15.2 ー ー 33.6 Fresh Food 32.9 32.0 31.6 28.4 124.8 31.5 32.1 ー ー 63.7 Food Products Marketing & Distribution 50.7 58.0 55.8 51.8 216.2 53.2 60.7 ー ー 113.8 88.9 72.9 80.5 81.9 324.2 81.3 75.2 ー ー 156.5 Forest Products, General Merchandise & Logistics 53.6 48.3 53.1 50.2 205.3 53.8 51.7 ー ー 105.4 Construction & Real Estate 35.3 24.6 27.3 31.7 118.9 27.6 23.6 ー ー 51.1 71.3 84.6 81.4 95.7 332.8 80.4 89.1 ー ー 169.5 ICT 44.1 55.7 53.4 65.8 219.0 51.4 58.4 ー ー 109.8 Financial & Insurance Business 27.2 28.9 28.0 29.8 113.9 29.1 30.7 ー ー 59.8 107.6 113.7 107.9 106.3 435.6 112.1 119.4 ー ー 231.4 3.6 (6.3) 5.8 (2.5) 0.6 1.0 2.9 ー ー 3.9 Others, Adjustments & Eliminations The 8th ICT & Financial Business General Products & Realty Food Energy & Chemicals FY25FY24 Textile Machinery Metals & Minerals (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Operating Segment Information (Trading income) 38 Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly Consolidated Total 190.5 176.2 171.0 146.2 683.9 170.7 183.4 ー ー 354.1 3.5 7.5 5.9 8.2 25.1 3.4 11.2 ー ー 14.6 19.2 24.6 24.3 20.0 88.1 18.8 23.1 ー ー 41.9 Plant Project, Marine & Aerospace 4.0 6.2 11.0 6.6 27.7 5.4 6.2 ー ー 11.6 Automobile, Construction Machinery & Industrial Machinery 15.2 18.5 13.3 13.4 60.4 13.4 16.9 ー ー 30.3 49.7 34.9 29.4 35.7 149.8 32.6 25.8 ー ー 58.4 27.9 25.0 24.9 21.9 99.8 28.8 24.9 ー ー 53.7 Energy 9.4 9.1 8.1 11.2 37.9 10.1 10.2 ー ー 20.4 Chemicals 15.3 13.4 14.2 10.3 53.2 15.0 13.4 ー ー 28.4 Power & Environmental Solution 3.2 2.5 2.6 0.4 8.7 3.7 1.2 ー ー 4.9 29.7 32.2 27.6 20.2 109.8 31.6 34.0 ー ー 65.6 Provisions 9.4 8.4 8.6 8.0 34.4 12.3 9.3 ー ー 21.6 Fresh Food 9.5 8.4 4.7 4.3 26.9 8.4 7.8 ー ー 16.2 Food Products Marketing & Distribution 10.8 15.4 14.4 7.9 48.5 10.9 16.9 ー ー 27.8 29.0 14.2 19.3 20.5 83.1 19.6 13.9 ー ー 33.5 Forest Products, General Merchandise & Logistics 14.1 10.1 13.3 11.4 48.8 13.5 11.3 ー ー 24.8 Construction & Real Estate 14.9 4.1 6.1 9.1 34.2 6.1 2.6 ー ー 8.7 13.8 28.2 20.0 29.8 91.8 17.8 27.0 ー ー 44.8 ICT 9.3 20.9 15.8 21.8 67.8 12.7 20.1 ー ー 32.8 Financial & Insurance Business 4.5 7.3 4.2 8.0 24.0 5.0 7.0 ー ー 12.0 19.3 24.1 17.2 7.0 67.6 23.6 29.4 ー ー 53.0 (1.7) (14.6) 2.4 (17.3) (31.1) (5.4) (6.0) ー ー (11.4) Others, Adjustments & Eliminations The 8th ICT & Financial Business General Products & Realty Food Energy & Chemicals FY25FY24 Textile Machinery Metals & Minerals (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly Businesses in Equipment Leasing, Automobility, Specialty Financing, International Business, and Environmental Infrastructure North American power business The group companies engaged in the North American electric power business and (I-Power Investment Inc. etc.) related service business Development & Investment company for water, environment, and renewable sector in Europe and Middle East Import / export of plant and equipment, and domestic environmental and energy solution businesses Ship-related business (IMECS Co., Ltd. etc.) The group companies engaged in the ship-related business ー 3.0 4.1 3.1 5.8 16.0 0.7 1.4 ー ー 2.0 5.9 JAPAN AEROSPACE CORPORATION Import and wholesale of aircraft, related parts, and airport security equipment 100.0% 0.6 1.0 0.9 0.9 3.3 1.0 1.1 ー ー 2.1 3.0 YANASE & CO., LTD. Sale and repair of imported automobiles 100.0% 3.4 4.4 3.3 1.9 13.1 2.1 4.3 ー ー 6.4 14.4 Overseas automobile-related business (Auto Investment Inc. etc.) Citrus Investment LLC *2 Investment in a company investing in Hitachi Construction Machinery 100.0% 2.5 0.7 3.2 2.2 8.6 1.7 4.1 ー ー 5.8 11.2 Kawasaki Motors, Ltd. *3 Manufacture and sales of motorcycles, off-road four-wheel vehicles, Jet Ski, and general-purpose gasoline engines 20.0% ー ー ー ー ー 0.4 Nov. 11 ー ー Nov. 11 N/D Import / export, wholesale and engineering services of machine tools, industrial, textile & food machinery The group companies engaged in the North American construction-machinery-related business 2.0 4.96.3 0.7 1.5 1.2 3.1 0.6 ー ー 1.7 ー ー ITOCHU MACHINE-TECHNOS CORPORATION North American construction-machinery- related business (MULTIQUIP INC. etc.) 100.0% ー (0.0) 0.7 0.2 1.1 2.0 1.8 1.6 0.6 2.3 FY25 ForecastOperations Owner- ship FY24 FY25 Tokyo Century Corporation*1 29.9% 7.6 3.4 ー ー Nov. 78.7 3.3 23.1 5.9 Nov. 7 27.8 ITOCHU Plantech Inc. 100.0% 0.3 0.3 ー ー 0.4 0.6 1.7 0.3 0.4 ー ー 0.9 1.4 IEI [I-ENVIRONMENT INVESTMENTS LIMITED] 100.0% 0.4 2.4 0.5 0.7 4.0 0.5 0.4(U.K.) 15.0 8.4 17.06.5 2.7 11.5 4.5 3.9 ー ー 8.1 ー The group companies engaged in the overseas automobile-related business ー 4.9 4.8 2.9 4.3 17.1 4.2 3.9 ー ー 0.9 1.3 0.6 1.7 Profits/Losses from Major Group Companies (1) 39 Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly JOI’X CORPORATION Manufacture and wholesale of men’s apparel 100.0% 0.0 (0.0) 1.1 0.1 1.3 0.0 (0.0) ー ー (0.0) 1.2 LEILIAN CO., LTD. Retail of women’s apparel 100.0% 0.2 (0.4) 0.4 0.0 0.3 0.1 (0.3) ー ー (0.2) 0.7 DESCENTE LTD. *1 Manufacture and wholesale of sportswear, etc. 100.0% 1.2 1.6 2.2 2.1 7.0 4.4 4.1 ー ー 8.5 13.3 DOME CORPORATION Manufacture and wholesale of sportswear, etc. 69.7% (0.5) 0.5 (0.3) (3.1) (3.4) (0.3) 0.4 ー ー 0.2 0.2 EDWIN CO., LTD. Planning, manufacture, and wholesale of jeans & other apparel products 100.0% 0.1 (0.0) 0.6 (0.3) 0.4 0.2 0.1 ー ー 0.3 0.5 Sankei Co., Ltd. Manufacture and wholesale of garment materials 100.0% 0.4 0.5 0.5 0.2 1.6 0.3 0.4 ー ー 0.7 1.5 IPA [ITOCHU Textile Prominent (ASIA) Ltd.] (Hong Kong) Production control and wholesale of apparel 100.0% 0.7 0.2 0.2 0.8 1.9 0.6 0.9 ー ー 1.6 2.9 ITS [ITOCHU TEXTILE (CHINA) CO., LTD.] (China) Production control and wholesale of textile materials and apparel 100.0% 0.8 1.2 (0.1) 0.1 1.9 1.0 1.1 ー ー 2.1 3.4 Operations Owner- ship FY24 FY25 FY25 Forecast Textile *1 ITOCHU’s ownership percentage in FY24 is: Q1 44.5%; Q2 44.4%; Q3 85.9%; Q4 100.0%. *1 “FY25 Forecast” is the company‘s forecast announced as of October 31, excluding IFRS adjustment, multiplied by ITOCHU's ownership percentage. The dates above are the financial announcement date of the company. *2 The figures do not include the interest income, etc. resulting from ITOCHU‘s loan to the partner. "FY25 Forecast" includes Hi tachi Construction Machinery's forecast announced as of October 31, multiplied by ITOCHU's ownership percentage. *3 Due to the relationships with investees and partners, "FY25 Forecast" is not presented. Disclosure of the FY25 Q1 -2 Results is scheduled to take place after the partner, Kawasaki Heavy Industries, announces its financial results. *4 JAMCO Corporation has been removed from the above table due to the exclusion from the equity method investments. Machinery N/D: Not Disclosed (Unit : billion yen)
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Copyright © ITOCHU Corporation. All Rights Reserved. Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly CIECO Azer [ITOCHU Oil Exploration (Azerbaijan) Inc.] (Cayman Islands) Exploration, development, and production of crude oil and gas 100.0% 2.6 0.9 (0.3) 2.0 5.1 1.2 1.4 ー ー 2.6 3.4 IPC SPR [ITOCHU PETROLEUM CO., (SINGAPORE) PTE. LTD.] (Singapore) International trade of crude oil, petroleum products 100.0% 0.4 0.2 0.2 0.6 1.4 0.3 0.6 ー ー 0.9 1.3 ITOCHU ENEX CO., LTD. Wholesale business of petroleum products and LPG, power/heat supply business and mobility business 55.7% 2.0 2.3 3.4 1.8 9.4 2.0 1.8 ー ー 3.9 8.9 *1 Japan South Sakha Oil Co., Ltd. Investment in crude oil and gas project in Eastern Siberia 33.3% 0.4 0.2 0.7 0.4 1.7 (0.5) (0.4) ー ー (1.0) N/D *2 Dividends from LNG Projects － N.A. 0.3 0.3 0.2 8.5 9.4 0.1 0.1 ー ー 0.1 3.0 Packaging materials, electronics materials, synthetic resin, and industrial materials trade 100.0% 0.7 1.0 1.8 0.6 4.1 1.7 1.4 ー ー 3.1 6.2 ICF [ITOCHU CHEMICAL FRONTIER Corporation] Wholesale of fine chemicals and related raw materials 100.0% 2.4 2.2 2.2 2.3 9.1 2.5 2.1 ー ー 4.6 9.8 CIPS [ITOCHU PLASTICS INC.] Trade of packaging goods, electronic materials, and functional synthetic resin materials 100.0% 1.1 1.3 1.4 1.2 5.1 1.6 1.5 ー ー 3.1 5.8 C.I. TAKIRON Corporation *3 FY25 ForecastOperations Owner- ship FY24 FY25 Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly IMEA [ITOCHU Minerals & Energy of (Australia) 100.0% 37.2 31.9 30.8 27.5 127.3 26.0 24.5 ー ー 50.5 116.2 Australia Pty Ltd] Iron ore N.A. 36.1 31.6 29.5 30.9 128.1 28.4 27.5 ー ー 55.8 N/D *1 Coal N.A. 1.1 0.3 1.3 (3.5) (0.7) (2.4) (2.9) ー ー (5.3) N/D *1 CM [CSN Mineração S.A.] *2 (Brazil) Iron ore resource development in Brazil 18.1% 2.2 5.7 (0.4) 9.3 16.9 (2.3) (0.1) ー ー (2.4) N/D Import, export, processing, and sales of steel products 50.0% 7.8 6.9 6.3 4.7 25.7 7.3 6.5 ー ー 13.8 N/D *1 Trade and investment in metal materials, products, and recycle business 100.0% 0.9 0.7 0.9 0.6 3.1 1.0 0.8 ー ー 1.8 3.3 FY25 Investment and sales in resource development projects including those of iron ore, coal, and non-ferrous metals, etc. FY25 Forecast MISI [Marubeni-Itochu Steel Inc.] ITOCHU Metals Corporation Operations Owner- ship FY24 Metals & Minerals Profits/Losses from Major Group Companies (2) 40 Energy & Chemicals *1 Due to the relationships with investees and partners, "FY25 Forecast" is not presented. *2 JBMF[JAPÃO BRASIL MINÉRIO DE FERRO PARTICIPAÇÕES LTDA.], which is the investment and management company of CM, was presented in the above table until FY24 Q2, however, the presentation has been changed due to the conversion of CM into an investment accounted for by the equity method resulting from the additional investment in FY24 Q3. Results are the gains and losses of CM and JBMF. Since the equity pick-up of CM started in FY24 Q4, FY24 Q1-Q3 results are the gains and losses of JBMF. "FY25 Forecast" is not presented as the company does not disclose its forecast. (Unit : billion yen) *1 The figure is the company‘s forecast announced as of October 31, excluding IFRS adjustment, multiplied by ITOCHU's ownersh ip percentage. *2 Due to the relationships with investees and partners, "FY25 Forecast" is not presented. *3 ITOCHU’s ownership percentage in FY24 is: Q1 55.7%; Q2 90.7%; Q3-4 100.0%. N/D: Not Disclosed N/D: Not Disclosed
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Copyright © ITOCHU Corporation. All Rights Reserved. Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly FUJI OIL CO., LTD. Development, manufacture and sale of vegetable oils and fats, industrial chocolate, emulsified, and fermented ingredients and soy-based ingredients 43.8% (0.6) (1.4) (1.9) 2.1 (1.9) 1.6 Nov. 11 ー ー Nov. 11 7.2 *1 WELLNEO SUGAR Co., Ltd. Manufacture, process, and sale of sugar and functional materials 37.0% 0.6 0.7 0.7 0.1 2.1 0.6 Nov. 7 ー ー Nov. 7 2.2 *1 ITOCHU FEED MILLS CO., LTD. Manufacture and marketing of compound feeds, livestock products 100.0% 0.4 0.5 0.4 0.4 1.8 0.4 0.5 ー ー 0.9 1.7 Dole International Holdings, Inc. Investment in Dole Fresh Produce Group and Food & Beverages Group 100.0% 0.2 0.1 (1.6) (0.1) (1.4) 0.9 0.6 ー ー 1.5 2.6 Prima Meat Packers, Ltd. Manufacture and marketing of meat, ham, sausage, and processed foods 48.7% 0.9 0.6 0.5 0.2 2.2 0.7 0.9 ー ー 1.7 3.9 *1 HYLIFE GROUP HOLDINGS LTD. (Canada) Hog farming and manufacture of pork 49.9% 0.1 0.8 0.9 1.3 3.0 1.0 0.8 ー ー 1.8 N/D *2 NIPPON ACCESS, INC. Wholesale and distribution of foods 100.0% 4.5 9.1 5.8 4.5 23.8 4.7 9.2 ー ー 13.8 23.0 ITOCHU-SHOKUHIN Co., Ltd. Wholesale and distribution of foods and liquors 52.5% 1.1 1.6 1.8 (0.2) 4.3 1.4 1.3 ー ー 2.7 4.4 *1 Operations Owner- ship FY24 FY25 FY25 Forecast Food Profits/Losses from Major Group Companies (3) 41 (Unit : billion yen) *1 The figures are the company's forecast announced as of October 31, excluding IFRS adjustment, multiplied by ITOCHU's owner ship percentage. *2 Due to the relationships with investees and partners, "FY25 Forecast" is not presented. Note: The dates above are the financial announcement date of each company. Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly North American construction-materials- business *1 The group companies engaged in the North American construction-materials-related business ー 8.2 3.9 3.2 2.6 17.9 6.5 4.0 ー ー 10.5 18.0 ETEL [European Tyre Enterprise Limited] (U.K.) Wholesale, retailing, and recycling of tyres in Europe 100.0% 1.7 0.8 0.5 4.0 7.0 0.3 0.9 ー ー 1.1 5.0 IFL [ITOCHU FIBRE LIMITED] (U.K.) Distribution and trading of pulp, wood chip, and paper materials, and investment in Metsä Fibre Oy 100.0% (2.5) 1.7 (1.1) 0.4 (1.5) (1.8) (3.3) ー ー (5.1) N/D *2 ITOCHU LOGISTICS CORP. Comprehensive logistics services 100.0% 1.6 1.3 1.8 0.9 5.6 1.6 1.6 ー ー 3.2 6.0 IPP [ITOCHU PULP & PAPER CORPORATION] Wholesale and import / export of paper, paper boards, and various materials 100.0% 0.7 0.6 0.7 1.0 3.0 0.6 0.9 ー ー 1.6 2.5 Manufacture and sale of ceramic raw materials and products 100.0% 0.2 0.1 0.2 0.1 0.6 0.2 0.2 ー ー 0.4 0.7 IPD [ITOCHU Property Development, Ltd.] Development, sale and leasing of real estate 100.0% 5.0 (0.1) 0.2 0.6 5.7 1.6 0.6 ー ー 2.2 5.0 DAIKEN CORPORATION Manufacture of building materials and construction parts 100.0% 2.2 1.6 2.4 0.3 6.6 1.2 0.6 ー ー 1.8 8.0 Nishimatsu Construction Co., Ltd. Construction, development and realty 21.9% ー ー ー ー ー ー Nov. 7 ー ー Nov. 7 3.5 *3 ITOCHU KENZAI CORPORATION Wholesale of wood products and building materials 100.0% 1.0 1.0 0.9 0.9 3.8 0.8 0.9 ー ー 1.8 4.0 IUC [ITOCHU Urban Community Ltd.] Operation and management of real estate property 100.0% 0.4 0.6 0.3 0.5 1.7 0.4 0.7 ー ー 1.1 1.8 ITOCHU CERATECH CORPORATION FY25 ForecastOperations Owner- ship FY24 FY25 General Products & Realty N/D: Not Disclosed N/D: Not Disclosed*1 The figures include net profit through DAIKEN (CIPA Lumber Co. Ltd. 51.0%, Pacific Woodtech Corporation 25.0%, etc.), with actual results of ¥1.7 billion for FY24 Q1-2 and ¥1.0 billion for FY25 Q1-2. *2 Due to the relationships with investees and partners, "FY25 Forecast" is not presented. *3 Since the equity pick-up of the company started in FY25 Q2, "FY25 Forecast" is the company‘s forecast (after deducting FY25 Q 1 results) announced as of October 31, excluding IFRS adjustment, multiplied by ITOCHU's ownership percentage. Note: The dates above are the financial announcement date of each company.
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Copyright © ITOCHU Corporation. All Rights Reserved. Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly FM [FamilyMart Co., Ltd.] *1 Convenience store operations under franchise system 94.7% 12.6 45.2 11.7 0.3 69.8 18.0 19.4 ー ー 37.3 46.0 Operations Owner- ship FY24 FY25 FY25 Forecast The 8th Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly CTC [ITOCHU Techno-Solutions Corporation] IT solutions, software development, system integration, and IT management 99.95% 7.7 13.7 12.2 16.9 50.5 9.8 14.5 ー ー 24.4 55.0 BELLSYSTEM24 Holdings, Inc. Contact center services 40.3% 0.4 0.3 0.4 0.8 2.0 0.5 0.5 ー ー 1.1 3.3 *1 Mobile-phone-related business The group companies engaged in the mobile-phone-related business ー 3.0 3.0 2.1 2.4 10.5 2.0 2.8 ー ー 4.8 4.7 ITOCHU Fuji Partners, Inc. Investment, shareholder loan and management consulting 63.0% 0.7 0.6 0.7 0.6 2.7 0.8 Nov. 5 ー ー Nov. 5 3.6 *2 A2 Healthcare Corporation Clinical development support for pharmaceutical products and medical devices 100.0% 0.3 0.3 0.5 0.5 1.7 0.4 0.3 ー ー 0.7 2.2 HOKEN NO MADOGUCHI GROUP INC. Retail insurance agency 100.0% 0.8 1.5 0.9 1.7 4.9 1.1 1.8 ー ー 2.9 N/D *3 POCKET CARD CO.,LTD. *4 Credit card business 78.2% 1.0 1.5 0.5 1.2 4.2 1.0 1.1 ー ー 2.1 2.8 Gaitame.Com Co.,Ltd. The major provider of an FX margin transaction platform 40.2% 0.5 0.5 0.3 0.3 1.5 0.5 1.0 ー ー 1.5 N/D *3 FRF [First Response Finance Ltd.] (U.K.) Auto loan business in the U.K. 100.0% 0.4 0.4 0.6 1.0 2.4 0.3 0.9 ー ー 1.1 3.4 IFA [ITOCHU FINANCE (ASIA) LTD.] (Hong Kong) Financial investment in China and Hong Kong 100.0% 0.8 0.7 0.7 0.3 2.5 0.8 0.9 ー ー 1.7 2.8 GCT [GCT MANAGEMENT (THAILAND) LTD.] (Thai) Investment in finance company, insurance, and insurance broker companies in Thailand 100.0% 1.0 1.0 1.0 1.3 4.3 1.1 1.4 ー ー 2.5 N/D *3 Operations Owner- ship FY24 FY25 FY25 Forecast ICT & Financial Business Profits/Losses from Major Group Companies (4) 42 *1 The figures include related tax effects, etc. *2 "FY25 Forecast“ is not presented as the company does not disclose its forecast. *3 C.P. Pokphand Co. Ltd. has been removed from the above table due to the exclusion from the equity method investments. (Unit : billion yen) *1 The figure is the company‘s forecast announced as of October 31, excluding IFRS adjustment, multiplied by ITOCHU's ownership percentage. *2 The figure is the forecast announced as of October 31 by SKY Perfect JSAT Holdings Inc., which is the affiliate of the company, excluding IFRS adjustment, multiplied by ITOCHU' s ownership percentage. *3 Due to the relationships with investees and partners, "FY25 Forecast" is not presented. *4 The figures include net profit through FamilyMart Co., Ltd. (32.2%). Note: The dates above are the financial announcement date of each company. *1 The figures include net profit from POCKET CARD CO.,LTD. (32.2%). Others, Adjustments & Eliminations Q1 Q2 Q3 Q4 Yearly Q1 Q2 Q3 Q4 Yearly Orchid Alliance Holdings Limited *1 (Virgin Islands) Investment and shareholder loan to a company investing in CITIC Limited 100.0% 29.3 33.3 23.7 27.8 114.1 28.8 30.3 ー ー 59.1 98.0 CTEI [Chia Tai Enterprises International Limited] (Bermuda) Biochemical Business, Industrial Business in China 23.8% 0.0 0.0 0.1 0.2 0.4 0.3 0.3 ー ー 0.6 N/D *2 Operations Owner- ship FY24 FY25 FY25 Forecast N/D: Not Disclosed N/D: Not Disclosed