FYE2022 1st Half Business Results (Appendix) (PDF 366KB)

Appendix

Supplementary Information on

FYE 2022 1st Half Business Results Summary

11

Textile

（Unit : billion yen）

	FYE 2021	FYE 2022
	Q1-2	Q1-2	Increase/
	Results	Results	Decrease
Gross trading profit	46.1	44.4		(1.7)
Equity in earnings of associates and	(0.5)	2.0	+	2.5
joint ventures
Net profit attributable to ITOCHU	8.4	10.0	+	1.7
Core profit	6.9	7.5	+	0.7

Summary of changes

(Net profit attributable to ITOCHU)

Increased due to the continuous expense reduction in apparel-related companies, the improvement of equity in earnings, and the gain on the sale of fixed assets, while

the impact of COVID-19 remains to some extent with prolonged self-restraint.

FYE 2022
Forecast	Progress
103.0	43%
23.0	44%

	Mar. 2021	Sep. 2021	Increase/
	Results	Results	Decrease
Total assets	418.7	414.9	(3.8)

Net Profit Attributable to ITOCHU

30				23.0
15	1.6			13.0
7.5
			4.7
	7.5
			5.3
0	0.9
	(14.2)
(15)	FYE 2021		FYE 2022
Q1	Q2	Q3	Q4	Q3-4 Forecast

	Profits/Losses from		Owner	FYE 2021	FYE 2022	FYE 2021	FYE 2022
	Major Group Companies		-ship	Q1-2	Q1-2	Results	Forecast
			Results	Results
	JOIʼX CORPORATION		100.0%	(0.6)	(0.4)	(0.8)	0.8
	DESCENTE LTD.		40.0%	(0.7)	1.1	1.6	2.5 (*1)
	EDWIN CO., LTD.		98.5%	(0.5)	1.1	(1.7)	1.5
	Sankei Co., Ltd.		100.0%	0.5	0.3	(8.2)	0.4
	ITOCHU Textile Prominent (ASIA) Ltd.	(Hong Kong)	100.0%	0.5	0.7	0.9	1.9
	[IPA]
	ITOCHU TEXTILE (CHINA) CO., LTD.	(China)	100.0%	0.7	1.0	1.1	1.5
	[ITS]
	(*1) The figures are the company's forecast announced,	excluding
	IFRS adjustment,
	multiplied by ITOCHU's ownership percentage.

12

Machinery

	FYE 2021	FYE 2022
	Q1-2	Q1-2	Increase/	Summary of changes
	Results	Results	Decrease	(Net profit attributable to ITOCHU)
Gross trading profit	75.1	100.7	+	25.6	Increased due to the favorable sales in YANASE,
					the recovery in overall automobile-related
Equity in earnings of associates and	12.7	24.3	+	11.6
business resulting from the alleviation of
joint ventures
				the impact of COVID-19, the recovery of
Net profit attributable to ITOCHU	16.7	45.5	+	28.9
the shipping market, the favorable performance
					in North American IPP-related business, and
Core profit	14.7	38.0	+	23.4
the gain on the sale of a water utility company in
	Mar. 2021	Sep. 2021	Increase/	IEI (European water-and-environment-related
	Results	Results	Decrease	company).
Total assets	1,124.9	1,184.7	+	59.8

（Unit : billion yen）

FYE 2022	Progress
Forecast
198.0	51%
70.0	65%

Net Profit Attributable to ITOCHU

70				70.0
50				24.5
30	22.8			19.3
16.1
10	11.4			26.2
	5.3
(10)	(9.9)
FYE 2021		FYE 2022
Q1	Q2	Q3	Q4	Q3-4 Forecast

Profits/Losses from		Owner	FYE 2021	FYE 2022	FYE 2021	FYE 2022
Major Group Companies		-ship	Q1-2	Q1-2	Results	Forecast
	Results	Results
Tokyo Century Corporation		30.0%	7.9	9.4	13.5	18.0	(*1)
I-Power Investment Inc.	(U.S.A.)	100.0%	0.2	1.6	2.5	2.8
I-ENVIRONMENT INVESTMENTS LIMITED [IEI]	(U.K.)	100.0%	0.3	6.6	0.6	6.9
ITOCHU Plantech Inc.		60.0%	0.4	0.5	0.8	0.7
	(Reference) Group total (incl. The 8th's portion)	100.0%	0.7	0.8	1.4	1.2
IMECS Co., Ltd.		100.0%	0.2	2.1	1.1	3.7
JAMCO Corporation		33.4%	(1.4)	(0.1)	(5.0)	(1.0)	(*1)
JAPAN AEROSPACE CORPORATION		100.0%	0.5	0.5	1.5	1.4
YANASE & CO., LTD.		66.0%	1.1	5.3	4.6	7.5
Auto Investment Inc. [AII]	(U.S.A.)	100.0%	0.6	1.3	1.2	1.9
ITOCHU TC CONSTRUCTION MACHINERY CO., LTD.	50.0%	0.0	0.0	0.2	0.2
ITOCHU MACHINE-TECHNOS CORPORATION		100.0%	0.1	0.0	0.5	0.8
Century Medical, Inc.		100.0%	0.3	0.2	0.6	0.7
MULTIQUIP INC.	(U.S.A.)	100.0%	1.3	2.0	2.4	3.2
(*1) The figures are the company's forecast announced, excluding IFRS adj	ustment,		13
	multiplied by ITOCHU's ownership percentage.

Metals & Minerals

（Unit : billion yen）

	FYE 2021	FYE 2022
	Q1-2	Q1-2	Increase/
	Results	Results	Decrease
Gross trading profit	50.6	104.0	+	53.4
Equity in earnings of associates and	9.3	24.6	+	15.3
joint ventures
Net profit attributable to ITOCHU	47.8	135.2	+	87.5
Core profit	47.8	113.2	+	65.5
	Mar. 2021	Sep. 2021	Increase/
	Results	Results	Decrease
Total assets	913.6	1,079.8	+	166.2

Summary of changes

(Net profit attributable to ITOCHU)

Increased due to higher iron ore prices, higher equity in earnings in Marubeni-Itochu Steel, and the realization of foreign exchange gains due to the de-consolidation of ITOCHU Coal Americas.

FYE 2022

Forecast Progress

1. 63%

1. 68%

Net Profit Attributable to ITOCHU

200		200.0
150		64.8
100	104.1	57.4
30.4
50	25.9
25.0	77.9
0	22.8
FYE 2021	FYE 2022

Q1 Q2 Q3 Q4 Q3-4 Forecast

		Profits/Losses from		Owner	FYE 2021	FYE 2022	FYE 2021	FYE 2022
		Major Group Companies		-ship	Q1-2	Q1-2	Results	Forecast
			Results	Results
		ITOCHU Minerals & Energy of	(Australia)	100.0%	41.8	94.7	90.6	147.1
		Australia Pty Ltd [IMEA]	Iron ore	N.A.	41.2	91.3	99.9	－ (*1)
				Coal	N.A.	0.5	3.5	(9.3)	－ (*1)
		JAPÃO BRASIL MINÉRIO DE	(Brazil)	77.3%	1.7	3.2	5.5	－ (*1)
		FERRO PARTICIPAÇÕES LTDA. [JBMF]
		Marubeni-Itochu Steel Inc.		50.0%	3.3	13.6	8.7	－ (*1)
		ITOCHU Metals Corporation		70.0%	0.4	0.9	1.0	1.6
			(Reference) Group total (incl. The 8th's portion)	100.0%	0.6	1.3	1.5	2.3

(*1) Due to the relationships with investees and partners, "FYE 2022 Forecast" is not presented.

			FYE 2021	FYE 2022	FYE 2021	FYE 2022
ITOCHUʼs Ownership			Q1-2	Q1-2	Results	Forecast
		Results	Results
(Sales Results)
Iron ore（million t）	12.3	11.9	23.6	24.0
		IMEA	11.1	10.7	21.3	21.4
		JBMF(CSN Mineração S.A.)	1.2	1.2	2.3	2.6

14

	Energy & Chemicals
					FYE 2021	FYE 2022	Increase/		Summary of changes		（Unit : billion yen）
					Q1-2	Q1-2			FYE 2022
Gross trading profit			Results	Results	Decrease		(Net profit attributable to ITOCHU)		Forecast	Progress
		107.9	111.6	+	3.6	Increased due to the improvement in		247.0	45%
Energy				51.2	47.7		(3.5)		124.0	38%
Chemicals				53.3	59.4	+	6.1	profitability in CIECO Azer and higher dividends	114.0	52%
Power & Environmental Solution	3.4	4.4	+	1.0	resulting from higher oil prices, and the stable	9.0	49%
Equity in earnings of associates and	4.2	7.0	+	2.8	performance in chemical-related companies,
joint ventures				partially offset by the absence of the favorable
Net profit attributable to ITOCHU	23.5	29.9	+	6.4	performance in energy trading transactions in	77.0	39%
Energy				8.0	10.0	+	1.9	the same period of the previous fiscal year.		38.0	26%
Chemicals				12.5	16.7	+	4.2						31.0	54%
Power & Environmental Solution	2.9	3.2	+	0.3						8.0	40%
Core profit				22.5	29.9	+	7.4
					Mar. 2021	Sep. 2021	Increase/
					Results	Results	Decrease
Total assets				1,279.2	1,343.7	+	64.5
Energy				690.0	732.9	+	42.9
Chemicals				549.7	561.1	+	11.4
Power & Environmental Solution	39.5	49.7	+	10.3			Owner	FYE 2021 FYE 2022	FYE 2021	FYE 2022
Net Profit Attributable to ITOCHU	Profits/Losses from
	Q1-2	Q1-2	Results	Forecast
				77.0		Major Group Companies		-ship	Results	Results
80
			ITOCHU Oil Exploration			(Cayman Islands)	100.0%	(0.3)	2.9	1.8	4.6
					(Azerbaijan) Inc. [CIECO Azer]
					ITOCHU PETROLEUM CO.,		(Singapore)	100.0%	1.2	0.8	1.1	1.1
60					(SINGAPORE) PTE. LTD. [IPC SPR]
						3.4	3.0	6.6	6.7 (*1)
			47.1	ITOCHU ENEX CO., LTD.			54.0%
				Japan South Sakha Oil Co., Ltd.		25.0%	2.5	2.7	4.8	－ (*2)
	36.1				Dividends from LNG Projects			N.A.	0.2	0.3	3.4	5.0
40				ITOCHU CHEMICAL FRONTIER Corporation	100.0%	2.2	3.1	4.7	5.3
	1.8				ITOCHU PLASTICS INC.				60.0%	1.3	1.6	2.6	2.9
	10.8					(Reference) Group total (incl. The 8th's portion)	100.0%	2.1	2.7	4.3	4.8
20			14.9	C.I. TAKIRON Corporation			55.7%	1.2	1.8	2.8	3.1 (*1)
12.3			(*1) The figures are the company's forecast announced, excluding IFRS adjustment,
					multiplied by ITOCHU's ownership percentage.
	11.2			15.0	(*2) Due to the relationships with investees and partners, "FYE 2022 Forecast" is not presented.
0										FYE 2021	FYE 2022
	FYE 2021		FYE 2022		ITOCHUʼs Ownership Oil & Gas（1,000BBL/day*）	Results	Forecast
			44	38		15
Q1	Q2	Q3	Q4	Q3-4 Forecast	(Sales Results)	* Natural Gas converted to crude oil is equivalent to 6,000cf =1BBL