ITOCHU : (Amendments) Changes in Consolidated Financial Results for the Fiscal Year 2021 (Year ended March 31, 2021)

May 10, 2021

ITOCHU Corporation

(Code No. 8001, Tokyo Stock Exchange, First Section)

Representative Director and Executive Vice President: Tsuyoshi Hachimura

Contact: Suguru Amano

General Manager, Investor Relations Division (TEL. [phone])

(Amendments) Changes in Consolidated Financial Results for the Fiscal Year 2021

(Year ended March 31, 2021)

ITOCHU Corporation hereby announces amendments as follows to the "Consolidated Financial Results for the Fiscal Year 2021 (Year ended March 31, 2021)" announced today. The amended parts are underlined.

1

1. Cover sheet (table of contents) :Amendments are underlined (Before amendment)

May 10, 2021

ANNUAL FINANCIAL STATEMENTS

For years ended March 31, 2021 and 2020

Page:

1 : Consolidated Financial Results for the Fiscal Year 2021 (Year ended March 31, 2021)

3 : 1. Qualitative Information

3	:	(1) Qualitative Information of the Consolidated Operating Results
3	:	(a) General Economic Situation

3: (b) Consolidated Operating Results

7: (2) Qualitative Information of the Consolidated Financial Position

1. : (a) Consolidated Financial Position
2. : (b) Consolidated Cash Flows
3. : 2. Summary Information (Notes)

9: (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the consolidation scope)

9: (2) Changes in accounting policies and accounting estimates

10: 3. Management Policy

11: 4. Distribution of Profit

1. : 5. Basic Concept on the Selection of Accounting Standards
2. : 6. Consolidated Financial Statements

12: (1) Consolidated Statement of Comprehensive Income

14: (2) Consolidated Statement of Financial Position

1. : (3) Consolidated Statement of Changes in Equity
2. : (4) Consolidated Statement of Cash Flows
3. : (5) Assumption for Going Concern

18: (6) Notes to Consolidated Financial Statements

1. : (Operating Segment Information)
2. : (Per Share Information)

19: (Material Subsequent Events)

ITOCHU Corporation

2

(After amendment)

May 10, 2021

ANNUAL FINANCIAL STATEMENTS

For years ended March 31, 2021 and 2020

Page:

1 : Consolidated Financial Results for the Fiscal Year 2021 (Year ended March 31, 2021)

3 : 1. Qualitative Information

3

:

(1) Qualitative Information of the Consolidated Operating Results

1. : (a) General Economic Situation
2. : (b) Consolidated Operating Results

8: (2) Qualitative Information of the Consolidated Financial Position

1. : (a) Consolidated Financial Position
2. : (b) Consolidated Cash Flows

10: 2. Summary Information (Notes)

10: (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the consolidation scope)

1. : (2) Changes in accounting policies and accounting estimates
2. : 3. Management Policy
3. : 4. Distribution of Profit

1. : 5. Basic Concept on the Selection of Accounting Standards
2. : 6. Consolidated Financial Statements

13: (1) Consolidated Statement of Comprehensive Income

15: (2) Consolidated Statement of Financial Position

1. : (3) Consolidated Statement of Changes in Equity
2. : (4) Consolidated Statement of Cash Flows
3. : (5) Assumption for Going Concern

19: (6) Notes to Consolidated Financial Statements

1. : (Operating Segment Information)
2. : (Per Share Information)

20: (Material Subsequent Events)

ITOCHU Corporation

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2. Page 2 :Amendment is underlined (Before amendment)

4. Other information

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the consolidation scope): Yes

New company

: 1 (Retail Investment Company, LLC)

Note: For more details, please refer to page 9, "2. (1) Changes in significant subsidiaries during the period".

(After amendment)

4. Other information

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the consolidation scope): Yes

New company

: 1 (Retail Investment Company, LLC)

Note: For more details, please refer to page 10, "2. (1) Changes in significant subsidiaries during the period".

3. Page 6 :Amendment is underlined (Before amendment)

1. "Others, Adjustments & Eliminations" includes gains and losses, which do not belong to any operating segment and internal eliminations between operating segments. For more details, please refer to page 18, " 6. (6) Operating Segment Information".

(After amendment)

1. "Others, Adjustments & Eliminations" includes gains and losses, which do not belong to any operating segment and internal eliminations between operating segments. For more details, please refer to page 19, " 6. (6) Operating Segment Information".

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May 10, 2021

ANNUAL FINANCIAL STATEMENTS

For years ended March 31, 2021 and 2020

Page:

• : Consolidated Financial Results for the Fiscal Year 2021 (Year ended March 31, 2021)

• : 1. Qualitative Information
• : (1) Qualitative Information of the Consolidated Operating Results
• : (a) General Economic Situation

• : (b) Consolidated Operating Results

• : (2) Qualitative Information of the Consolidated Financial Position
• : (a) Consolidated Financial Position

• : (b) Consolidated Cash Flows

10 : 2. Summary Information (Notes)

10 : (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries accompanying changes in the consolidation scope)

1. : (2) Changes in accounting policies and accounting estimates
2. : 3. Management Policy
3. : 4. Distribution of Profit

1. : 5. Basic Concept on the Selection of Accounting Standards
2. : 6. Consolidated Financial Statements

13	:	(1)	Consolidated Statement of Comprehensive Income
15	:	(2)	Consolidated Statement of Financial Position

1. : (3) Consolidated Statement of Changes in Equity
2. : (4) Consolidated Statement of Cash Flows
3. : (5) Assumption for Going Concern

19

:

(6) Notes to Consolidated Financial Statements

1. : (Operating Segment Information)
2. : (Per Share Information)

20

:

(Material Subsequent Events)

ITOCHU Corporation