Itochu Corp (ITOCF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This is Hachimura CFO. Thank you very much for taking the time out of your busy schedule to join us today. I'd like to give you the overview of Q3 results and segment information will be provided by Yamaura, the general manager of accounting. Please refer to the PowerPoint presentation material. Starting with page three, summary of financial results. So our forecast for the full year is 880 billion yen based on the assumption that we make 10% growth. So we are aiming for the highest ever profit. In comparison, the net profit during the time was 676.5 billion yen, up 11% year-on-year. The progress was 77%. 83% came from non-resource businesses, which are very strong. From Q2 to Q3, there were some declines of the earnings in the resources business, but we offset that with the revaluation gain of DeSant TOB and realized this positive number. I will explain the investments later. Cash out of some investments will emerge in the next fiscal year, but we are on track in terms of making decisions about the investments. In metals and minerals, there were lower prices of the materials and the coking coal operation was sluggish, and also extraordinary gain was booked in the previous year in energy and chemicals, and also the worsening of the profitability of North American construction material in general products and the realty. Textile, machinery, food, ICT, financial and aid and civic CP were strong in non-resource businesses and also there was extraordinary gain of the descent and the profit increased by about 64.8 billion yen year-on-year. Next page will be explained by Yamaura. Going to page 5, this shows the core profit. As a whole, in comparison to the previous year, there was a worsening of 2 billion yen. The worsening of the natural resources on the right-hand side s...