Itochu Corp (ITOCF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone. I am President Ashi. Thank you very much for joining us today. I will explain three highlights from our first half business results announcement, solid earnings progress, dividend increase, and share split. Please refer to page 2 of the FY 2025 first half business results summary presentation materials, released on November 5th. The first point is the progress of financial results for FY 2025. Consolidated net profit for the first half reached 500.3 billion yen, an increase of 61.8 billion yen year-on-year, reaching a record high level. While extraordinary gains from asset replacements contributed, our strong performance was primarily driven by the robust results in non-resource sector, which is one of our key strengths. Progress toward the full-year forecast of 900 billion yen has reached 56%, exceeding our initial expectations, and has been demonstrating steadily. Regarding the full-year consolidated net profit forecast, there is no change from the initial announcement, it remains at 900 billion yen. However, we have revised our full-year core profit forecast to a range from 800 billion yen to 820 billion yen. At the beginning of the fiscal year, our core profit plan was set as a broad range from 770 billion yen to 850 billion yen, however, given the steady progress in the first half, we have raised upward the lower limit of this range. Regarding the forecasts by segment, we have revised forecasts downward for metals and minerals due to difficult circumstances in the first half. On the other hand, we have revised the forecasts upward for textile, food, ICT and financial business, the eighth, and others. All these upwardly revised segments belong to non-resource sector, particularly in consumer-related businesses, which are among our key stren...