Consolidated Financial Results for the 3rd Quarter of FYE 2025 (IFRS)

Net profit attributable to ITOCHU	676.5billion yen	( increased by 10.6 % compared to the same period of the previous fiscal year )
Equity in earnings of associates and joint ventures	269.5billion yen	( increased by 17.4 % compared to the same period of the previous fiscal year )

Net profit attributable to ITOCHU

676.5billion yen ( increased by 10.6 % compared to the same period of the previous fiscal year )

Net profit attributable to ITOCHU Increased by 10.6%, or 64.8 billion yen, compared to the same period of the previous fiscal year to 676.5 billion yen (4,277 million U.S. dollars).

Equity in earnings of associates and joint ventures

269.5billion yen ( increased by 17.4 % compared to the same period of the previous fiscal year )

Equity in earnings of associates and joint ventures Increased by 17.4%, or 40.0 billion yen, compared to the same period of the previous fiscal year to a gain of 269.5 billion yen (1,704 million U.S. dollars).

The 8th Company:Increased by 44.4 billion yen compared to the same period of the previous fiscal year to a gain of 46.4 billion yen (293 million U.S. dollars), due to the extraordinary gain on the group reorganization of Chinese business in FamilyMart.
Others, Adjustments & Eliminations: Increased by 27.6 billion yen compared to the same period of the previous fiscal year to a gain of 91.3 billion yen (577 million U.S. dollars), due to the improvement in profitability in C.P. Pokphand resulting from the recovery of pork prices and lower feed costs, and higher earnings in CITIC Limited resulting from the stable performance in comprehensive financial services segment, the extraordinary gain on the partial sale of a group company, and the depreciation of the yen, partially offset by lower earnings in iron ore companies and steel-related companies.
Metals & Minerals Company:Decreased by 19.1 billion yen compared to the same period of the previous fiscal year to a gain of 22.2 billion yen (140 million U.S. dollars), due to lower steel material and steel pipe prices in Marubeni-Itochu Steel, and the unfavorable performance of operation in coking-coal-related companies.
Machinery Company:Decreased by 9.4 billion yen compared to the same period of the previous fiscal year to a gain of 59.0 billion yen (373 million U.S. dollars), due to the absence of the surge of electricity prices resulting from the heat wave in North American electric-power-related business in the same period of the previous fiscal year, partially offset by the increase in aerospace-related transactions in a leasing-related company.

Net profit attributable to ITOCHU by Segment Summary of changes from the previous fiscal year

■ Textile Company

70.4 billion yen (increased by 51.5 billion yen compared to the same period of the previous fiscal year)

【＋】 Revaluation gain resulting from the conversion of DESCENTE into a consolidated subsidiary
【＋】 Apparel-related companies：Stable performance especially in overseas sports sector

■ Machinery Company

103.8 billion yen (increased by 7.3 billion yen compared to the same period of the previous fiscal year)

【＋】 Aerospace-related companies and YANASE：Stable sales
【＋】 Australian infrastructure company：Extraordinary gain on the partial sale
【＋】 IEI：Extraordinary gain on the sale of an Energy-from-Waste project company
【－】 North American electric-power-related business：Lower equity in earnings due to the absence of the surge of electricity prices resulting from the heat wave in FYE 2024 Q1-3
【－】 North American construction-machinery-related business：Lower sales volume

■ Metals & Minerals Company

133.1 billion yen (decreased by 31.3 billion yen compared to the same period of the previous fiscal year)

【－】 Lower iron ore and coal prices
【－】 Coking-coal-related companies：Unfavorable performance of operation
【－】 Marubeni-Itochu Steel：Lower steel material and steel pipe prices

■ Energy & Chemicals Company

50.6 billion yen (decreased by 19.5 billion yen compared to the same period of the previous fiscal year)

【－】 Energy trading transactions/CIECO Azer/Electricity transactions：Deterioration in profitability
【－】 Japan South Sakha Oil：Lower production volume
【－】 Absence of extraordinary gains in FYE 2024 Q1-3
【＋】 Chemical-related companies：Improvement in profitability of C.I. TAKIRON, etc.

■ Food Company

60.0 billion yen (increased by 5.0 billion yen compared to the same period of the previous fiscal year)

【＋】 HYLIFE：Favorable sales and improvement in profitability
【＋】 NIPPON ACCESS and ITOCHU-SHOKUHIN：Expansion of transactions resulting from higher transaction volume
【＋】 Provisions-related transactions：Higher transaction volume
【－】 Dole：Lower production volume of pineapples
【－】 North American grain-related company：Absence of favorable performance in FYE 2024 Q1-3

■ General Products & Realty Company

42.6 billion yen (decreased by 9.5 billion yen compared to the same period of the previous fiscal year)

【－】 North American construction-materials-related business：Deterioration in profitability in exterior building materials business
【－】 ETEL：Increase in expenses despite higher sales prices
【＋】 DAIKEN：Conversion into a consolidated subsidiary in FYE 2024 Q3 and the improvement in profitability in domestic business

■ ICT & Financial Business Company

58.0 billion yen (increased by 3.8 billion yen compared to the same period of the previous fiscal year)

【＋】 ITOCHU Techno-Solutions：Favorable performance
【－】 Mobile-phone-related business：Lower earnings due to the deterioration in profit margin
【－】 Absence of extraordinary gains in FYE 2024 Q1-3

■ The 8th Company

63.9 billion yen (increased by 27.2 billion yen compared to the same period of the previous fiscal year)

【＋】 FamilyMart
〔＋〕 Increase in daily sales resulting from enhancement of product appeal and sales promotion, and expansion of transactions in advertising and media companies
〔＋〕 Extraordinary gain on the group reorganization of Chinese business
〔－〕 Increase in various costs caused by changes in external environment and execution of digital measures to strengthen business foundations
〔－〕 De-consolidation of a domestic company in FYE 2024 Q3

■ Others, Adjustments & Eliminations

94.0 billion yen (increased by 30.4 billion yen compared to the same period of the previous fiscal year)

【＋】 C.P. Pokphand：Improvement in profitability resulting from the recovery of pork prices and lower feed costs
【＋】 CITIC Limited
〔＋〕 Comprehensive financial services segment：Stable performance
〔＋〕 Extraordinary gain on the partial sale of a group company
〔＋〕 Depreciation of the yen
〔＋〕 Decrease in interest expenses in Orchid Alliance
〔－〕 Iron ore companies and steel-related companies：Lower earnings

Composition (FYE 2025 Q3)

Textile Company	10.41%
Machinery Company	15.35%
Metals & Minerals Company	19.68%
Energy & Chemicals Company	7.48%
Food Company	8.87%
General Products & Realty Company	6.30%
ICT & Financial Business Company	8.58%
The 8th Company	9.44%
Others, Adjustments & Eliminations	13.89%

Financial Position as of December 31, 2024

Total assets
15,742.6billion yen
(
increased by
 
8.6
%

compared with March 31, 2024
)

Total shareholders' equity
5,797.9billion yen
(
increased by
 
6.8
%

compared with March 31, 2024
)

Net interest-bearing debt
3,182.8billion yen
(
increased by
 
16.1
%

compared with March 31, 2024
)

NET DER
0.55times
(
increased by
 
0.04
pt

compared with March 31, 2024
)

Total assets	15,742.6billion yen	( increased by 8.6 % compared with March 31, 2024 )
Total shareholders' equity	5,797.9billion yen	( increased by 6.8 % compared with March 31, 2024 )
Net interest-bearing debt	3,182.8billion yen	( increased by 16.1 % compared with March 31, 2024 )
NET DER	0.55times	( increased by 0.04 pt compared with March 31, 2024 )

Total assets

15,742.6billion yen ( increased by 8.6 % compared with March 31, 2024 )

Total assets Increased by 8.6%, or 1,252.9 billion yen, compared to March 31, 2024 to 15,742.6 billion yen (99,523 million U.S. dollars), due to the conversion of DESCENTE into a consolidated subsidiary, the increase in investments accounted for by the equity method resulting from the additional investment in CSN Mineracao S.A., the increase in trade receivables and inventories resulting from the increase of trading transactions, and the depreciation of the yen.

Total shareholders' equity / Net interest-bearing debt / NET DER

Total shareholders' equity

5,797.9billion yen ( increased by 6.8 % compared with March 31, 2024 )

Total shareholders’ equity Increased by 6.8%, or 371.0 billion yen, compared to March 31, 2024 to 5,797.9 billion yen (36,654 million U.S. dollars), due to net profit attributable to ITOCHU during this fiscal year and the depreciation of the yen, partially offset by dividend payments and share buybacks.

Net interest-bearing debt

3,182.8billion yen ( increased by 16.1 % compared with March 31, 2024 )

Net interest-bearing debt (interest-bearing debt after deducting cash and cash equivalents and time deposits) Increased by 16.1%, or 441.2 billion yen, compared to March 31, 2024 to 3,182.8 billion yen (20,121 million U.S. dollars), due to the conversion of DESCENTE into a consolidated subsidiary, the additional investment in CSN Mineracao S.A., dividend payments and share buybacks, and the depreciation of the yen, partially offset by the stable performance in operating revenues.

NET DER

0.55times ( increased by by 0.04 pt compared with March 31, 2024 )

Ratio of shareholders’ equity to total assets and NET DER (Net debt-to-shareholders’ equity ratio)
NET DER (net debt-to-shareholders’ equity ratio) increased by 0.04 points compared to March 31, 2024 to 0.55 times.

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