Marubeni Corporation · TSE:8002
Marubeni — Investor Day (September 2026)
64 slides from Marubeni's investor day presentation, Sep 9, 2026
Slide 1: Marubeni IR Day 2026
Marubeni IR Day 2026 Marubeni IR Day － P a t h w a y t o Va l u e C r e a t i o n － 2026.09.09
Slide 2: Disclaimer Regarding Forward Looking Statements and Original Language
Disclaimer Regarding Forward Looking Statements and Original Language This material contains forward-looking statements about the future performance, events or management plans of Marubeni Corporation and its Group companies (the Company) based on the available information, certain assumptions and e
Slide 3: Towards a Value Creation Group beyond the Boundaries of Sogo Shosha
Marubeni IR Day 2026 Towards a Value Creation Group beyond the Boundaries of Sogo Shosha Director, Representative Executive Officer, President and CEO Masayuki Omoto
Slide 4: The Five Ways We Have Evolved Since IR Day 2025
Marubeni IR Day 2026 The Five Ways We Have Evolved Since IR Day 2025
Slide 5: New Heights: Long-term goal of global top 100 by market capitalization
Evolution 1 New Heights The Marubeni Group's long-term goal is to rank among the global top 100 companies by market capitalization Toward the GC2021 GC2024 GC2027 ― Transformation ― ― Putting Strategy Into Practice ― ― Accelerating Growth ― global top 100 Reached ¥10.0 tn Steady Growth Toward Global
Slide 6: Implementing Two Transformations to Reach Global Heights
Evolution 2 Implementing Two Transformations to Reach Global Heights Transition to Strategic Platform Businesses (SPBs) Transformation 1 Transformation 2 Achieving global excellence in value creation capabilities Achieving global excellence Transformation 1 Transition to SPBs Transformation 2 in val
Slide 7: Enhancing Capital Allocation Policies
Evolution 3 Enhancing Capital Allocation Policies Relentlessly pursuing long-term compound growth in cash flow Revision of Three-Year Cumulative Capital Allocation Enhancement of GC2027 Capital Allocation Policy Policy (August 2026) 62% YoY growth in core 250.0 billion yen 200.0 billion yen 1 Implem
Slide 8: Discipline in Asset Turnover; Strengthening Growth Pipeline
Evolution 4 Discipline in Asset Turnover; Strengthening Growth Pipeline Resolutely divesting from low-ROIC businesses and investing in SPBs ROIC for divested businesses Divestments New investments 84% of the pipeline consists of SPBs in FY2024 was approximately 1% (billion yen) (billion yen) 3,000.0
Slide 9: Improving Quality of Investments and Profitability
Evolution 5 Improving Quality of Investments and Profitability Timeline Strengthening opportunity-driven investment discipline from GC2027 ROIC 10 % Improving the Quality of Large Scale* Achievement Cash Flow Growth Investments Investments Timeline (Average) Perspective • Implemented the “winning st
Slide 10: IR Day 2026: A New Context
Marubeni IR Day 2026 IR Day 2026: A New Context
Slide 11: SPBs: Drivers of Marubeni's Cash Generation
SPBs: Drivers of Marubeni's Cash Generation The YoY growth in core operating cash flow has been driven by the SPBs over the past six years and Q1 FY2026 Resources and SPBs have driven growth in core SPBs have also made a significant contribution to operating cash flow over the medium-term the growth
Slide 12: Enhancing Customer Value as a Winning Strategy, Further Accelerated by AI
Enhancing Customer Value as a Winning Strategy, Further Accelerated by AI Essential needs × value-adding initiatives (proprietary data × technology infrastructure) ＝ enhanced customer value In the advent of the AI era, our winning strategies will become even more effective Agri-inputs Mobility Busin
Slide 13: Improving Existing Businesses through Kaizen, Technology, and Propagation of Winning Strategies
Improving Existing Businesses through Kaizen, Technology, and Propagation of Winning Strategies Commitment to kaizen × AI & technology and propagation of winning strategies = improvement of existing businesses Improvements Improvements in Progress Challenges Japan Chicken U.S. Beef Business Business
Slide 14: In True Marubeni Style: Taking Steps to Ensure Next-Gen Growth
In True Marubeni Style: Taking Steps to Ensure Next-Gen Growth A global perspective that anticipates changes × identifying enduring needs = next-generation growth AI / Semiconductors Critical Minerals • Key component • Supply security • Excellent technology Leveraging Marubeni’s Distinctive Strength
Slide 15: Top ROIC Level & Capital Investment Growth within the Sector
Top ROIC Level & Capital Investment Growth within the Sector Closing the ROIC gap with the world’s leading companies FY2025 ROIC Capital Investment Growth Rate PER (as of August 31, 2026) (March 2021→ March 2026) (Reference) (Fold (%) Increase) 3.6x 12 2 10 (Reference) 1.9 Marubeni 14.0x 1.8 8 1.7 6
Slide 16: Grow or Change
Grow or Change Reaching new global heights: The Marubeni Group’s next evolution starts here and now Kaizen by All Gemba Growth Investments Transformation to for Cash Generation to Increase SPB Ratio Global Excellence ⚫ Thorough implementation of a ⚫ Improvement of discipline and ⚫ Confront losing st
Slide 17: In Closing: Toward Global Heights
In Closing: Toward Global Heights Pursuing an ROE of 15% or higher from FY2027 onwards Toward the GC2021 GC2024 GC2027 ― Transformation ― ― Putting Strategy Into Practice ― ― Accelerating Growth ― global top 100 Reached ¥10.0 tn Steady Growth Toward Global top 400 Global Heights by market cap. Reach
Slide 18: Financial Strategy and Cost of Capital Optimization
Marubeni IR Day 2026 Financial Strategy and Cost of Capital Optimization Director, Representative Executive Officer CFO Chijo Tajima
Slide 19: Approach to Optimizing Cost of Capital (WACC)
Approach to Optimizing Cost of Capital (WACC) To widen the ROIC–WACC spread, we will optimize WACC by utilizing leverage and transitioning to Strategic Platform Businesses (SPBs) Initiatives to Enhance Corporate Value Today’s Scope Transition to SPBs 15％ ROIC ROE ⚫ Execute Opportunity-Driven Growth
Slide 20: Improving Our Financial Foundation, Asset Quality, and Cash Flow
Improving Our Financial Foundation, Asset Quality, and Cash Flow Through cash flow management and rigorous investment discipline, we have strengthened our financial foundation, improved asset quality, and enhanced cash flow stability Risk Assets and Equity One-time Gains and Losses Improving Asset Q
Slide 21: Leveraging Debt Capacity Going Forward
Leveraging Debt Capacity Going Forward A stronger financial foundation has translated into higher credit ratings and lower debt costs in the bond market. Going forward, we will deploy debt capacity toward growth investment Net Debt-to-Equity Ratio Marubeni Bond Spreads (vs. A-Rated Index) (x) （bp） 2
Slide 22: Beta: Components and Current Assessment
Beta: Components and Current Assessment There is still room for optimization of beta, which reflects the market’s assessment of our risk profile. We recognize this as an issue to address in optimizing the cost of equity Components of Beta Correlation Coefficient and Volatility Ratio (June 2026: ●, J
Slide 23: Optimizing Beta through the Transition to SPBs
Optimizing Beta through the Transition to SPBs We will leverage our SPBs to improve market recognition of Marubeni’s distinctive growth and capital allocation capabilities, as well as the reproducibility and predictability of future cash flows. This will support more appropriate beta assessment thro
Slide 24: Agri-inputs Retail Business
Marubeni IR Day 2026 Agri-inputs Retail Business Managing Executive Officer COO, Food & Agri Business Div. Hidefumi Oya
Slide 25: Agri-inputs Retail Business: A Look Back at IR Day 2025
Agri-inputs Retail Business: A Look Back at IR Day 2025 Consultation services and sales of fertilizers, crop protections, seeds, and other agri-inputs for large-scale farmers; Providing proprietary products and services that meet the needs of our customers Growth Domains High Added Value Scalability
Slide 26: Helena: Building a strong sales base
Helena Building a strong sales base; steadily executing initiatives to capture future growth Net Profit Growth Drivers 2027 （billion yen） 37.3 CAGR As the market environment Helena proprietary products “HPG” 10% • Development of products that meet customers’ needs improves, higher grain prices and b
Slide 27: Adubos Real
Adubos Real In 2019, Marubeni acquired Adubos Real in Brazil, a growth market; Helena’s expertise and insights leveraged for sustainable growth 60 Net Profit While competitors are restructuring amid insufficient credit management for farm borrowers and difficulty securing stable earnings, Adubos Rea
Slide 28: Mobility Business in North America
Marubeni IR Day 2026 Mobility Business in North America Executive Officer COO, Finance, Leasing & Real Estate Business Div. Takashi Tsunoda
Slide 29: Mobility Business in North America: A Look Back at IR Day 2025
Mobility Business in North America: A Look Back at IR Day 2025 Leveraging share-growth potential in a massive market and adjacent expansion to drive further growth centered on Nowlake and Wheels Growth Domains High Added-Value Scalability Building a strategic platform in Proven track records; Expans
Slide 30: Nowlake: Balancing Rapid Adaptation to Changing Conditions and Scalable Growth
Nowlake: Balancing Rapid Adaptation to Changing Conditions and Scalable Growth Swiftly adapting credit policies amid macro headwinds while leveraging competitive strengths and rigorous risk monitoring to scale assets while maintaining risk-adjusted returns Business Environment Earning Assets & Scale
Slide 31: Wheels: Entering the Post-Integration Growth Phase
Wheels: Entering the Post-Integration Growth Phase Ensuring the resilience of fleet management and its essential role in corporate vehicle operations while accelerating growth by enhancing value through AI, data, and synergies Leased Assets & High Value-Added Services Cash Generation Customer Base &
Slide 32: Wholesale and Retail Power Trading Business
Marubeni IR Day 2026 Wholesale and Retail Power Trading Business Executive Officer COO, Power & Infrastructure Services Div. Naoki Ito
Slide 33: Wholesale and Retail Power Trading Business: A Look Back at IR Day 2025
Wholesale and Retail Power Trading Business: A Look Back at IR Day 2025 The shift to renewable energy is accelerating due to increased demand, led by data centers. The Marubeni Group’s retail power business is also steadily expanding Growth Domains High Added Value Scalability Global demand for rene
Slide 34: Current Initiatives and Growth Drivers
Current Initiatives and Growth Drivers Armed with a customer-first philosophy and our renewable energy brands, we aim to secure the second largest market share in the UK and accelerate growth toward even greater heights Current Initiatives Enduring Strengths & Competitive Advantages /Drivers for Fur
Slide 35: Enhancing Added-Value and Expanding Our Footprint
Enhancing Added-Value and Expanding Our Footprint The Marubeni Group is pursuing greater added-value through M&As, while expanding our geographic footprint and evolving and strengthening our Strategic Platform Businesses A chain reaction of improvement driven by combining value-added strengths: Trad
Slide 36: Copper Mining Business
Marubeni IR Day 2026 Copper Mining Business Executive Officer COO, Metals & Mineral Resources Div. Seiji Taguchi
Slide 37: Copper Mining Business: A Look Back at IR Day 2025
Copper Mining Business: A Look Back at IR Day 2025 Winning Strategy in Metal Resources High Cost Holdings Interests in 01 Enduring Needs 02 03 04 Reliable Partners Competitiveness Low Risk Countries Copper Demand Growth Upward Trend in Market Price Electrification, infrastructure expansion, rising p
Slide 38: Centinela Copper Mine Expansion Project
Centinela Copper Mine Expansion Project Capturing a Robust Copper Supply-Demand Environment for Further Growth Trends Supporting the Copper Market Centinela Expansion Project New concentrator plant doubling production capacities for copper concentrate ⚫ Copper demand stays firm with AI data center i
Slide 39: Centinela Copper Mine Expansion Project
Centinela Copper Mine Expansion Project Since the investment decision in 2023, the project has made steady progress. Installation of major plant equipment was completed this year, with pre-commissioning to begin in stages 2023 • Investment decision • Construction commencement 2024 • Signing of proje
Slide 40: Aviation Aftermarket and Asset Trading Business
Marubeni IR Day 2026 Aviation Aftermarket and Asset Trading Business Executive Officer COO, Aerospace & Mobility Div. Toru Okazaki
Slide 41: Business Overview
Business Overview Transforming into a high-added-value aftermarket asset trading business and becoming a value-enhancement trader that upgrades the asset value of aircraft New Aircraft / Engines New Aircraft / Engines Used Aircraft / Engines Aircraft / Engines Aircraft / Engines Business Areas Devel
Slide 42: Track Record & Outlook
Track Record & Outlook Adjusted Net Profit Further growth, Key KPI: Asset Acquisition Amount aiming for (billion yen) CAGR high profitability 30 20 % 24 22 (million USD) 20 Forecast 10 7 96 200 0 2019 2025 2026 2027 2022 2027 Core Operating Cash Flow (billion yen) CAGR 20 % (million USD) 40 35 Forec
Slide 43: Growth Domains, High Added-Value, and Scalability
Growth Domains, High Added-Value, and Scalability Delivering high-value solutions tailored to customers’ needs in the aircraft market, which requires specialized technical expertise and has high entry barriers ● Demand Increase: Steady growth due to strong air passenger demand and the increase of mi
Slide 44: Growth Strategy
Growth Strategy Expanding into adjacent fields through M&A and strengthening Group collaboration Expanding our business foundation and aiming for further growth Further expanding our business foundation through M&A in adjacent fields with expected synergies Next Phase 〉 Expansion of Asset Trading Ne
Slide 45: Value Enhancement Driven by the Value Creation Office
Marubeni IR Day 2026 Value Enhancement Driven by the Value Creation Office General Manager, Value Creation Office Konosuke Okura
Slide 46: VCO Background and Mission
Background and Mission Newly established to put continuous improvement into practice, responding swiftly to last fiscal year's management challenges Organic growth in existing businesses on all fronts Value Creation Office Hands-on support by specialists Propagation of best practices (see P47–P49) V
Slide 47: VCO Role: Propagation of Best Practices
VCO Role 01 Propagation of Best Practices Collecting, standardizing, and propagating best practices from our core Strategic Platform Businesses Core Strategic Platform Businesses Value Creation Office Marubeni Value Creation Levers VCO Accumulate etc… Accumulating examples of improvement found in pr
Slide 48: Best Practices — Case Study: Pricing Optimization
Best Practices — Case Study 1 Pricing Optimization Improving margins through well-timed pricing optimization Pricing optimization in practice Introduction of a pricing process built on an in-house quotation support tool Company A — over 10,000 products; high number of business deals AI shows recomme
Slide 49: Inventory & Receivables/Payables Optimization
Best Practices — Case Study 2 Inventory & Receivables/Payables Optimization Improving capital efficiency to reduce Group companies' invested capital Inventory optimization in practice Receivables/payables optimization in practice Company B: Tool built to propose Company C: In-house tool visualizes a
Slide 50: VCO Role: Strengthening Competitiveness: Technology and Human Resources
VCO Role 02 Strengthening Competitiveness: Technology and Human Resources Recognizing how technology, particularly AI, shapes competitive advantage, we are steadily turning this tech into value Building the platform Employees adapting to change ⚫ Nearly 100 solutions offered: general-purpose AI ⚫ Gr
Slide 51: VCO Role: Fostering a Culture of Improvement
VCO Role 02 Strengthening Competitiveness: Fostering a Culture of Improvement Daily productivity gains and habits that anticipate and avert failure strengthen the fundamentals of continuous improvement Fostering a culture of improvement Learning from losing strategies L-1 Grand Prix: a company-wide
Slide 52: VCO Goals
VCO Goals Contribute to achieving the +33.0 billion yen from improvement of existing businesses in the FY2026 full-year forecast Continuous improvement that Group companies would struggle to achieve alone, delivered through VCO hands-on support Improvement of existing businesses in the full-year for
Slide 53: Initiatives for the Next Generation: Consumer Sector
Marubeni IR Day 2026 Initiatives for the Next Generation : Consumer Sector Executive Officer COO, Next Generation Corporate Development Div. Toshihiro Fukumura
Slide 54: Consumer Sector: Building New Strategic Platform Businesses
Consumer Sector Building New Strategic Platform Businesses by Implementing Best Practices that Go Beyond the Boundaries of a Sogo Shosha Corporate development activities targeting the consumer sector to capture high-growth opportunities through sizable investments Regional Investment Platforms Cumul
Slide 55: Consumer Sector: Building Investment Track Records
Consumer Sector Building Investment Track Records in the Consumer Sector and Expanding Strategic Platforms To expand business platforms, we leverage regional investment platforms to drive investments and roll-ups in high-potential companies that address consumer needs Investment Track Records and Pr
Slide 56: Consumer Sector: From Accumulating Investments to Growing Investment Value
Consumer Sector From Accumulating Investments to Growing Investment Value Create multiple Strategic Platform Businesses through value creation and roll-ups of portfolio companies Accumulate growth investments to Create multiple Strategic Platform Businesses of sufficient scale By FY2027 By FY2030 ap
Slide 57: Initiatives for the Next Generation: AI & Semiconductor Fields
Marubeni IR Day 2026 Initiatives for the Next Generation: AI & Semiconductor Fields Executive Officer COO, Next Generation Business Development Div. Dai Sakakura
Slide 58: Physical Constraints Emerging from the Expansion of AI Data Centers
Physical Constraints Emerging from the Expansion of AI Data Centers Advances in AI and its expanding adoption are accelerating investment in AI data centers. Six physical constraints are emerging across the supply chain that supports growth in the AI era AI Data Center Market Size Forecast Physical
Slide 59: Marubeni Group Business Foundations for Addressing Physical Constraints in the AI Era
Marubeni Group Business Foundations for Addressing Physical Constraints in the AI Era Bringing together our business foundations in power, resources, communications, and next-generation businesses, the Marubeni Group will address physical constraints across the entire AI supply chain. Our division w
Slide 60: Unlocking Growth Constraints in AI and Semiconductors
Unlocking Growth Constraints in AI and Semiconductors: Upfront Investments and Business Foundations in Three Key Areas By combining our existing business foundations with investments in next -generation technologies, we address physical constraints that impede growth. Through approaches tailored to
Slide 61: Business Value Enhancement Scenarios toward 2035
Business Value Enhancement Scenarios toward 2035 We will simultaneously work to add higher-value to our existing businesses while monetizing new AI ventures. Through partnerships and M&A as catalysts for growth, we aim to increase business value more than tenfold by 2035 Business Value Enhancement R
Slide 62: Closing
Marubeni IR Day 2026 Closing Director, Representative Executive Officer, President and CEO Masayuki Omoto
Slide 63: The Marubeni Group's Enduring Values
The Marubeni Group’s Enduring Values Company Creed Our Vision of the Future “Fairness, Innovation, and Harmony” Value Creation Beyond the Values That Serve as Constant Guides Boundaries of a Sogo Shosha © Marubeni Corporation All Rights Reserved. 63
Slide 64: Global crossvalue platform
Global crossvalue platform Marubeni