Itochu Corp (ITOCF) Q4 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.735 -- 00:00:06.425 Hello everyone, I am President Ishii. Thank you very much for joining us today. 00:00:06.425 -- 00:00:11.937 I will explain our FY2025 business results and FY2026 management plan. 00:00:11.937 -- 00:00:17.068 First, for FY2025 business results, please refer to page 2 of the presentation 00:00:17.068 -- 00:00:23.167 materials FY2025 business results and FY2026 management plan. 00:00:23.167 -- 00:00:28.259 consolidated net profit reached 900.3 billion yen while exceeding our initial plan 00:00:28.259 -- 00:00:32.949 of 900 billion yen marking a record high for the two consecutive years and achieving 00:00:32.949 -- 00:00:38.001 900 billion yen stage for the first time although fy 2025 started under 00:00:38.001 -- 00:00:41.468 highly uncertain and volatile conditions including the impact of U.S. 00:00:41.468 -- 00:00:45.896 tariff policies and rising tensions between Japan and China, we steadily accumulated 00:00:45.896 -- 00:00:50.004 core profit by addressing each challenge arose, and successfully achieved our initial 00:00:50.004 -- 00:00:54.949 commitment driven by extraordinary gains from asset replacements etc. 00:00:55.448 -- 00:01:01.898 Next, core profit increased by 11.5 billion yen year-on-year, reaching 781.5 00:01:01.898 -- 00:01:07.387 billion yen. As announced, there were negative factors in the first half of FY 2025 that 00:01:07.387 -- 00:01:11.995 we didn't expect in our initial plan including delays in the coking coal projects, sluggish 00:01:11.995 -- 00:01:15.260 iron ore prices, and underperformance in the Finnish pulp business. 00:01:15.260 -- 00:01:19.666 However, prompt countermeasures and turnaround initiatives enabled us to recover to a 00:01:19.666 -- 00:01:24.273 normalized level in the second half. On th...