Appendix

Supplementary Information on

FYE 2023 3rd Quarter Business Results Summary

  1. As of October 1, 2022, ITOCHU dissolved the mutual-holdings for certain group companies held by The 8th Company as minority and the other Division Company as majority, and shares of such group companies are only held by the other Division Company. These changes are reflected from the FYE 2023 Q3 results and the FYE 2023 Q1-2 results are not affected by these changes. According to the above, FYE 2022 Q3-4 results are reclassified in the same manner.

11

Textile

FYE 2022

FYE 2023

Q1-3

Q1-3

Increase/

Summary of changes

Results

Results

Decrease

(Net profit attributable to ITOCHU)

Gross trading profit

71.5

85.1

+

13.6

Increased due to the improvement of apparel-

Equity in earnings of associates and

3.7

5.3

+

1.6

related companies resulting from the alleviation

joint ventures

of the impact of COVID-19, partially offset by

Net profit attributable to ITOCHU

16.6

19.5

+

2.9

the decrease in extraordinary gains.

Core profit

13.6

17.5

+

3.9

Mar. 2022

Dec. 2022

Increase/

Results

Results

Decrease

Total assets

436.8

480.3

+

43.5

（Unit : billion yen）

FYE 2023

Forecast

Progress

116.0

73%

26.0

75%

Net profit attributable to ITOCHU

30

25.1

26.0

20

8.5

6.5

6.6

8.0

10

4.7

7.5

0

5.3

4.1

FYE 2022

FYE 2023

Q1

Q2

Q3

Q4

Q4 Forecast

Profits/Losses from Major Group Companies Owner

FYE 2022

FYE 2023

FYE 2022

FYE 2023

-ship

Q1-3

Q1-3

Results

Forecast

Results

Results

JOI'X CORPORATION

100.0%

0.6

0.9

0.7

1.2

DESCENTE LTD.

40.0%

2.2

Feb. 6

2.7

4.0 (*1)

EDWIN CO., LTD.

98.5%

1.4

0.7

1.6

0.6

Sankei Co., Ltd.

100.0%

0.6

1.1

0.5

0.9

ITOCHU Textile Prominent (ASIA) Ltd.

(Hong Kong)

100.0%

2.0

1.9

2.0

2.5

[IPA]

ITOCHU TEXTILE (CHINA) CO., LTD.

(China)

100.0%

1.6

1.8

1.7

2.1

[ITS]

Note: The date above is the financial announcement date

of each

company.

(*1) The figures are the company's forecast announced as of Feb. 1, excluding IFRS adjustment,

multiplied by ITOCHU's ownership percentage.

12

Machinery

FYE 2022

FYE 2023

（Unit : billion yen）

Q1-3

Q1-3

Increase/

Summary of changes

FYE 2023

Results

Results

Decrease

(Net profit attributable to ITOCHU)

Forecast

Progress

Gross trading profit

153.1

171.1

+

18.0

Increased due to favorable performance in

223.0

77%

Equity in earnings of associates and

33.2

32.4

(0.8)

automobile-related companies and North

joint ventures

American business, the start of equity pick-up of

Net profit attributable to ITOCHU

66.1

97.1

+

31.0

Hitachi Construction Machinery, and the gain on

100.0

97%

the sale of a North American beverage-

Core profit

58.6

82.6

+

24.0

equipment-maintenance company, partially

offset by the losses on aircrafts leased to Russian

Mar. 2022

Dec. 2022

Increase/

airlines in a leasing-related company.

Results

Results

Decrease

Total assets

1,302.7

1,645.2

+

342.5

Owner

FYE 2022

FYE 2023

FYE 2022

FYE 2023

-ship

Q1-3

Q1-3

Results

Forecast

Net profit attributable to ITOCHU

Profits/Losses from Major Group Companies

Results

Results

Tokyo Century Corporation

30.0%

12.5

Feb. 7

16.0

0.3 (*1)

100.0

I-Power Investment Inc.

(U.S.A.)

100.0%

3.0

6.3

4.1

7.8

100

I-ENVIRONMENT INVESTMENTS LIMITED [IEI]

(U.K.)

100.0%

7.0

3.2

7.5

3.0

80.3

2.9

ITOCHU Plantech Inc. (*2)

60.0%

0.8

1.1

1.1

1.2

25.7

(Reference) Group total (incl. The 8th's portion)

100.0%

[ 1.1

]

[ 1.4 ]

[ 1.4

]

[

1.5

]

80

IMECS Co., Ltd.

100.0%

3.7

2.7

4.2

2.8

14.2

JAMCO Corporation

33.4%

(0.4)

Feb. 9

(1.4)

0.7

(*1)

60

20.5

JAPAN AEROSPACE CORPORATION

100.0%

1.1

0.8

1.6

1.5

YANASE & CO., LTD.

82.8%

8.0

10.3

9.7

10.7

52.7

40

Auto Investment Inc. [AII]

(U.S.A.)

100.0%

2.0

2.3

2.7

2.9

19.3

Citrus Investment LLC (*3)

100.0%

－

1.5

－

2.8

20

ITOCHU TC CONSTRUCTION MACHINERY CO., LTD.

50.0%

0.1

0.1

0.3

0.3

26.2

ITOCHU MACHINE-TECHNOS CORPORATION

100.0%

0.4

(*4)

0.3

1.0

(*4)

1.2

18.7

0

Century Medical, Inc.

100.0%

0.5

0.5

0.6

0.4

MULTIQUIP INC.

(U.S.A.)

100.0%

2.7

4.4

3.7

4.7

FYE 2022

FYE 2023

Note: The dates above are the financial announcement date of each company.

(*1) The figures are the company's forecast announced as of Feb. 1, excluding IFRS adjustment,

multiplied by ITOCHU's ownership percentage.

Q1

Q2

Q3

Q4

Q4 Forecast

(*2) Q1-2 results are calculated based on the previous ownership percentage (upper row), while Q3-4

figures are calculated based on the percentage after the dissolution of mutual-holdings (lower row).

(*3) From Q3, the figures include net profit from Hitachi Construction Machinery which is the affiliate of

the company. The figures do not include the interest income, etc. resulting from

ITOCHU's loan to the partner.

13

(*4) ITOCHU MACHINE-TECHNOS and ITOCHU SysTech merged and formed ITOCHU MACHINE-TECHNOS

on Apr. 1, 2022. The figures show the aggregate amounts of both companies.

Metals & Minerals

FYE 2022

FYE 2023

（Unit : billion yen）

Q1-3

Q1-3

Increase/

Summary of changes

FYE 2023

Results

Results

Decrease

(Net profit attributable to ITOCHU)

Forecast

Progress

Gross trading profit

140.7

184.2

+

43.5

Increased due to higher coal prices, the stable

217.0

85%

Equity in earnings of associates and

36.6

47.0

+

10.4

performance in North American business in

joint ventures

Marubeni-Itochu Steel, and the depreciation of

the yen, partially offset by lower iron ore prices

Net profit attributable to ITOCHU

180.6

197.9

+

17.3

234.0

85%

and the absence of extraordinary gains in the

Core profit

158.1

197.9

+

39.8

same period of the previous fiscal year.

Mar. 2022

Dec. 2022

Increase/

Results

Results

Decrease

Total assets

1,285.3

1,375.1

+

89.9

FYE 2022

FYE 2023

FYE 2022

FYE 2023

Net profit attributable to ITOCHU

Profits/Losses from Major Group Companies Owner

Q1-3

Q1-3

Results

Forecast

-ship

Results

Results

226.5

234.0

200

45.9

36.1

150

45.3

63.2

100

57.4

59.3

50

77.9

75.4

0

FYE 2022

FYE 2023

Q1

Q2

Q3

Q4

Q4 Forecast

ITOCHU Minerals & Energy of

(Australia)

100.0%

123.7

136.3

158.7

174.1

Australia Pty Ltd [IMEA]

Iron ore

N.A.

118.1

103.1

147.9

－ (*1)

Coal

N.A.

5.6

33.1

10.8

－ (*1)

JAPÃO BRASIL MINÉRIO DE

(Brazil)

77.3%

3.7

9.0

3.7

－ (*1)

FERRO PARTICIPAÇÕES LTDA. [JBMF]

Marubeni-Itochu Steel Inc.

50.0%

23.2

38.0

31.3

－ (*1)

ITOCHU Metals Corporation (*2)

70.0%

2.2

1.8

2.7

2.5

(Reference) Group total (incl. The 8th's portion)

100.0%

[ 2.5 ]

[ 2.3 ]

[ 3.1 ]

[ 3.0 ]

(*1) Due to the relationships with investees and partners, "FYE 2023 Forecast" is not presented.

(*2) Q1-2 results are calculated based on the previous ownership percentage (upper row), while Q3-4

figures are calculated based on the percentage after the dissolution of mutual-holdings (lower row).

FYE 2022

FYE 2023

ITOCHU's Ownership (Sales Results)

Q1-3

Q1-3

FYE 2022

FYE 2023

Results

Results

Results

Forecast

Iron ore（million tons）

17.8

17.7

23.2

24.5

IMEA

16.1

16.1

21.1

22.0

JBMF(CSN Mineração S.A.)

1.6

1.6

2.1

2.5

14

Energy & Chemicals

FYE 2022

FYE 2023

（Unit : billion yen）

Q1-3

Q1-3

Increase/

Summary of changes

FYE 2023

Results

Results

Decrease

(Net profit attributable to ITOCHU)

Forecast

Progress

Gross trading profit

195.0

239.4

+

44.4

Increased due to the improvement in profitability

301.0

80%

Energy

96.8

127.6

+

30.8

in energy trading transactions and CIECO Azer

154.0

83%

Chemicals

90.5

99.0

+

8.5

(Crude oil exploration and production company)

132.0

75%

Power & Environmental Solution

7.8

12.8

+

5.1

resulting from higher market prices and the

15.0

86%

Equity in earnings of associates and

9.3

7.7

(1.6)

stable performance in electricity transactions,

joint ventures

partially offset by the decrease in dividends and

Net profit attributable to ITOCHU

65.4

79.8

+

14.5

the absence of extraordinary gains in the same

98.0

81%

Energy

29.8

45.0

+

15.2

period of the previous fiscal year.

54.0

83%

Chemicals

26.6

27.7

+

1.1

34.0

82%

Power & Environmental Solution

9.0

7.1

(1.9)

10.0

71%

Core profit

61.4

79.8

+

18.5

Mar. 2022

Dec. 2022

Increase/

Results

Results

Decrease

Total assets

1,489.3

1,743.5

+

254.2

Energy

818.0

943.1

+

125.1

Chemicals

602.2

666.5

+

64.3

Owner

FYE 2022

FYE 2023 FYE 2022

FYE 2023

Power & Environmental Solution

69.1

133.9

+

64.8

-ship

Q1-3

Q1-3

Results

Forecast

Net profit attributable to ITOCHU

Profits/Losses from Major Group Companies

Results

Results

90.6

98.0

ITOCHU Oil Exploration

(Cayman Islands)

100.0%

4.4

5.0

8.9

6.4

(Azerbaijan) Inc. [CIECO Azer]

90

18.2

ITOCHU PETROLEUM CO.,

(Singapore)

100.0%

1.4

1.6

1.4

1.7

(SINGAPORE) PTE. LTD. [IPC SPR]

25.3

ITOCHU ENEX CO., LTD.

54.0%

(*1)

Japan South Sakha Oil Co., Ltd.

25.0%

2.7

3.0

4.1

－ (*2)

60

31.3

Dividends from LNG Projects

N.A.

0.4

1.1

5.4

9.2

ITOCHU CHEMICAL FRONTIER Corporation

100.0%

4.8

5.8

6.4

6.5

35.5

ITOCHU PLASTICS INC. (*3)

60.0%

3.0

3.2

3.6

4.1

(Reference) Group total (incl. The 8th's portion)

100.0%

[ 4.1 ]

[ 4.4 ]

[ 4.7

]

[

5.2

]

26.6

C.I. TAKIRON Corporation

55.7%

3.0

Feb. 3

3.5

3.0 (*1)

30

Note: The date above is the financial announcement date of each company.

14.9

(*1) The figures are the company's forecast announced as of Feb. 1, excluding IFRS adjustment,

multiplied by ITOCHU's ownership percentage.

15.0

21.9

(*2) Due to the relationships with investees and partners, "FYE 2023 Forecast" is not presented.

(*3) Q1-2 results are calculated based on the previous ownership percentage (upper row), while Q3-4

0

figures are calculated based on the percentage after the dissolution of mutual-holdings (lower row).

FYE 2022

FYE 2023

FYE 2022

FYE 2023

ITOCHU's Ownership (Sales Results)

Results

Forecast

Q1

Q2

Q3

Q4

Q4 Forecast

Oil & Gas（1,000BBL/day*）

37

33

15

* Natural Gas converted to crude oil is equivalent to 6,000cf =1BBL

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Itochu Corporation published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 04:07:01 UTC.