Itochu : FYE2023 1st Quarter Business Results Summary (Appendix) (PDF 1,027KB)

Appendix

Supplementary Information on

FYE 2023 1st Quarter Business Results Summary

11

Textile

（Unit : billion yen）

	FYE 2022	FYE 2023	Increase/
	Q1 Results	Q1 Results	Decrease
Gross trading profit	22.1	23.9	+	1.8
Equity in earnings of associates and	0.7	1.2	+	0.4
joint ventures
Net profit attributable to ITOCHU	5.3	4.1		(1.2)
Core profit	3.3	4.1	+	0.8

Summary of changes

(Net profit attributable to ITOCHU)

Decreased due to the absence of extraordinary gains in the same period of the previous fiscal year, partially offset by the improvement of apparel-related companies resulting from the alleviation of the impact of COVID-19.

FYE 2023
Forecast	Progress
120.0	20%
26.0	16%

	Mar. 2022	Jun. 2022	Increase/
	Results	Results	Decrease
Total assets	436.8	445.6	+	8.8

Net profit attributable to ITOCHU	Profits/Losses from Major Group Companies
						Owner	FYE 2022	FYE 2023	FYE 2022	FYE 2023
						-ship	Q1 Results Q1 Results	Results	Forecast
30	25.1	26.0	JOI'X CORPORATION			100.0%	(0.2)	0.0	0.7	1.2
			DESCENTE LTD.			40.0%	0.4	0.9	2.7	3.8 (*1)
	8.5		EDWIN CO., LTD.			98.5%	1.2	0.2	1.6	0.5
15	6.6	21.9	Sankei Co., Ltd.			100.0%	0.1	0.3	0.5	0.6
	4.7		ITOCHU Textile Prominent (ASIA) Ltd.	(Hong Kong)	100.0%	0.2	0.5	2.0	2.2
		[IPA]
	5.3	4.1	ITOCHU TEXTILE (CHINA) CO.,	LTD.	(China)	100.0%	0.3	0.4	1.7	1.8
0		[ITS]

FYE 2022	FYE 2023	(*1) The figures are the company's forecast announced, excluding IFRS adjustment,
multiplied by ITOCHU's ownership percentage.

Q1 Q2 Q3 Q4 Q2-4 Forecast

12

Machinery

（Unit : billion yen）

	FYE 2022	FYE 2023	Increase/	Summary of changes	FYE 2023
	Q1 Results	Q1 Results	Decrease	(Net profit attributable to ITOCHU)	Forecast	Progress
Gross trading profit	50.6	52.4	+	1.8	Decreased due to impairment losses on aircrafts	199.0	26%
Equity in earnings of associates and	15.8	2.9		(12.9)	leased to Russian airlines in a leasing-related
joint ventures		company and the decrease in extraordinary gains
Net profit attributable to ITOCHU	26.2	18.7		(7.6)	compared to the same period of the previous	72.0	26%
					fiscal year, partially offset by charter income
Core profit	21.2	24.7	+	3.4	resulting from favorable shipping market and
	Mar. 2022	Jun. 2022	Increase/	increase in dividends from automobile-related
	investments.
	Results	Results	Decrease
Total assets	1,302.7	1,403.7	+	101.1

Net profit attributable to ITOCHU		Profits/Losses from Major Group Companies Owner	FYE 2022 FYE 2023	FYE 2022	FYE 2023
		-ship	Q1 Results Q1 Results	Results	Forecast

80	80.0	72.0
	14.1
60	20.4
40		53.3
19.3
20	26.2
	18.7
0
	FYE 2022	FYE 2023

Q1 Q2 Q3 Q4 Q2-4 Forecast

Tokyo Century Corporation			30.0%		5.3		(3.5)		16.0		6.0 (*1)
I-Power Investment Inc.	(U.S.A.)		100.0%		1.2		0.9		4.1		2.3
I-ENVIRONMENT INVESTMENTS LIMITED [IEI]	(U.K.)		100.0%		6.0		0.7		7.5		1.9
ITOCHU Plantech Inc.			60.0%		0.2		0.2		0.8		0.7
	(Reference) Group total (incl. The 8th's portion)		100.0%		0.3		0.3		1.4		1.2
IMECS Co., Ltd.			100.0%		1.2		1.0		4.2		2.4
JAMCO Corporation			33.4%		(0.1)		0.1		(1.4)		0.3 (*1)
JAPAN AEROSPACE CORPORATION			100.0%		0.1		0.3		1.6		1.5
YANASE & CO., LTD.			66.0%		2.8		2.8		9.7		7.5
Auto Investment Inc. [AII]	(U.S.A.)		100.0%		0.7		0.8		2.7		1.5
ITOCHU TC CONSTRUCTION MACHINERY CO., LTD.		50.0%		0.0		0.0		0.3		0.3
ITOCHU MACHINE-TECHNOS CORPORATION			100.0%		0.1	(*2)	(0.1)		1.0	(*2)	1.4
Century Medical, Inc.			100.0%		0.2		0.1		0.6		0.5
MULTIQUIP INC.	(U.S.A.)		100.0%		1.0		1.5		3.7		3.2
(*1)	The figures are the company's forecast	announced,		excluding
	IFRS adjustment,
	multiplied by ITOCHU's ownership percentage.
(*2) ITOCHU MACHINE-TECHNOSCORPORATION and ITOCHU SysTech Corporation merged
	and formed ITOCHU MACHINE-TECHNOS CORPORATION on Apr. 1.
	The figures show the aggregate amounts of both companies.							13

Metals & Minerals

（Unit : billion yen）

	FYE 2022	FYE 2023	Increase/
	Q1 Results	Q1 Results	Decrease
Gross trading profit	53.5	69.9	+	16.4
Equity in earnings of associates and	11.8	17.4	+	5.7
joint ventures
Net profit attributable to ITOCHU	77.9	75.4		(2.5)
Core profit	55.9	75.4	+	19.5
	Mar. 2022	Jun. 2022	Increase/
	Results	Results	Decrease
Total assets	1,285.3	1,404.5	+	119.2

Summary of changes

(Net profit attributable to ITOCHU)

Decreased due to lower iron ore prices and the absence of extraordinary gains in the same period of the previous fiscal year, partially offset by higher coal prices and higher earnings in Marubeni-Itochu Steel resulting from

the favorable performance in North American steel pipe business and North American sheet construction materials business.

FYE 2023

Forecast Progress

1. 41%

1. 38%

Net profit attributable to ITOCHU	Profits/Losses from Major Group Companies
								Owner	FYE 2022	FYE 2023	FYE 2022	FYE 2023
	226.0						-ship	Q1 Results Q1 Results	Results	Forecast
			ITOCHU Minerals & Energy of		(Australia)	100.0%	47.5	53.5	158.7	148.4
				197.0
200		45.7		Australia Pty Ltd [IMEA]		Iron ore	N.A.	47.2	39.0	147.9	－ (*1)
150		45.0					Coal	N.A.	0.3	14.5	10.8	－ (*1)
			JAPÃO BRASIL MINÉRIO DE
			121.6		(Brazil)	77.3%	0.4	4.7	3.7	－ (*1)
				FERRO PARTICIPAÇÕES LTDA. [JBMF]
100		57.4			Marubeni-Itochu Steel Inc.			50.0%	5.6	13.5	31.3	－ (*1)
					ITOCHU Metals Corporation			70.0%	0.5	0.6	2.1	2.0
50		77.9		75.4	(Reference) Group total (incl. The 8th's portion)	100.0%	0.7	0.8	3.1	2.8
					(*1) Due to the relationships with investees and partners, "FYE 2023 Forecast" is not presented.
0									FYE 2022	FYE 2023	FYE 2022	FYE 2023
	FYE 2022		FYE 2023	ITOCHU's Ownership (Sales Results)
				Q1 Results Q1 Results	Results	Forecast
Q1	Q2	Q3	Q4	Q2-4 Forecast		Iron ore（million tons）	6.0	5.9	23.2	24.5
						IMEA			5.5	5.4	21.1	22.0
						JBMF(CSN Mineração S.A.)	0.6	0.5	2.1	2.5

14

Energy & Chemicals

（Unit : billion yen）

		FYE 2022	FYE 2023	Increase/	Summary of changes	FYE 2023
		Q1 Results	Q1 Results	Decrease	(Net profit attributable to ITOCHU)	Forecast	Progress
	Gross trading profit	56.9	70.0	+	13.1	Increased due to the improvement		268.0	26%
	Energy	23.8	34.4	+	10.6		134.0	26%
	in profitability in energy trading transactions and
	Chemicals	30.9	32.6	+	1.7		123.0	27%
	CIECO Azer (Crude oil exploration and
	Power & Environmental Solution	2.2	3.0	+	0.8		11.0	27%
	production company) resulting from higher
	Equity in earnings of associates and
	3.9	6.2	+	2.2	market prices, and higher equity in earnings.
	joint ventures
	Net profit attributable to ITOCHU	15.0	21.9	+	6.9				85.0	26%
	Energy	3.4	10.0	+	6.6				44.0	23%
	Chemicals	9.7	9.4		(0.2)				31.0	30%
	Power & Environmental Solution	1.9	2.5	+	0.6				10.0	25%
	Core profit	15.0	21.9	+	6.9
		Mar. 2022	Jun. 2022	Increase/
		Results	Results	Decrease
	Total assets	1,489.3	1,693.5	+	204.2
	Energy	818.0	928.9	+	110.9
	Chemicals	602.2	670.1	+	68.0
	Power & Environmental Solution	69.1	94.5	+	25.4		FYE 2022 FYE 2023	FYE 2022	FYE 2023
Net profit attributable to ITOCHU			Profits/Losses from Major Group Companies Owner
					Forecast
								-ship Q1 Results Q1 Results Results

	89.6	85.0	ITOCHU Oil Exploration	(Cayman Islands)	100.0%	1.3	4.1	8.9	5.2
	(Azerbaijan) Inc. [CIECO Azer]
80	25.0		ITOCHU PETROLEUM CO.,	(Singapore)	100.0%	0.3	0.6	1.4	1.2
	(SINGAPORE) PTE. LTD. [IPC SPR]
			ITOCHU ENEX CO., LTD.		54.0%	1.4	2.4	7.1	7.0 (*1)
60			Japan South Sakha Oil Co., Ltd.		25.0%	1.5	2.9	4.1	－	(*2)
		Dividends from LNG Projects		N.A.
		63.1		0.1	0.3	5.4	7.4
	34.8	ITOCHU CHEMICAL FRONTIER Corporation	100.0%	1.6	1.8	6.4	6.0
40		ITOCHU PLASTICS INC.		60.0%	0.8	0.8	2.8	3.1
		(Reference) Group total (incl. The 8th's portion)	100.0%	1.3	1.4	4.7	5.1
	14.9		C.I. TAKIRON Corporation		55.7%	1.1	0.3	3.5	3.0 (*1)
20		(*1) The figures are the company's forecast announced, excluding IFRS adjustment,
	15.0	21.9	multiplied by ITOCHU's ownership percentage.
	(*2) Due to the relationships with investees and partners, "FYE 2023 Forecast" is not presented.

0

ITOCHU's Ownership (Sales Results)

FYE 2022

FYE 2023

FYE 2022

FYE 2023

Results

Forecast

Oil & Gas（1,000BBL/day*）

37

33

15

Q1

Q2

Q3

Q4 Q2-4 Forecast

* Natural Gas converted to crude

oil is equivalent to 6,000cf =1BBL