Itochu Corporation TSE:8001

ITOCHU : FY2025 Business Results and FY2026 Management Plan

Published

Source: MarketScreener

FY2025 Business Results FY2026 Management Plan

ITOCHU Corporation (8001)

May 1, 2026

The

Brand-new Deal

Forward-Looking Statements

Data and projections contained in these materials are based on the information available at the time of publication, and various factors may cause the actual results to differ materially from those presented in such forward-looking statements. ITOCHU Corporation, therefore, wishes to caution that readers should not place undue reliance on forward-looking statements, and further, that ITOCHU Corporation has no obligation to update any forward-looking statements as a result of new information, future events or other developments.

* FY2025 refers to the fiscal year ending March 2026. FY2026 refers to the fiscal year ending March 2027.

Copyright © ITOCHU Corporation. All Rights Reserved.

FY2025

Initial Plan

900.0

770.0-850.0

-

Max. ¥1 tn

(Over ¥300.0 bn)

-

Aiming at 50%

¥40(*1)

Approx. ¥170.0 bn

Approx.15%

¥128

Over 90%

(Unit: billion yen)

Consolidated net profit

Core profit

Core operating cash flows

Growth investment (gross)

EXIT

Net investment

Total payout ratio

Dividend per share

Share buybacks

ROE

EPS

Ratio of Group Companies Reporting Profits

(*1) Dividend per share has been retroactively adjusted to reflect the share split on January 1, 2026 (5-for-1 split of common shares). The amounts are calculated as pre-split dividend × 1/5 (rounded to one decimal place).

FY2025 Highlight

  • Consolidated net profit

    • Record-high for 2 consecutive years

    • Exceeded ¥900.0 bn for the first time

  • Core operating cash flows

    • Record-high, steadily increasing earning power

  • Investment

    • Exceeded ¥1 tn, including approved projects with cash outflows scheduled for FY2026

    • Steadily accumulating high-quality assets

    • Decisively executing proactive asset replacements

  • Shareholder returns

    • Record-high total payout ratio of 52%

    • Maintained a progressive dividend (DPS: ¥42)

    • Executed share buybacks as initially announced

  • Other KPIs

    • Continuously maintained a high level of ROE

    • Achieved a record-high, with over 93% of ratio of group companies reporting profits

FY2024

FY2025

Inc/Dec

880.3

900.3＊

+20.0

770.0

781.5

+11.5

920.0

940.0＊

+20.0

766.0

838.0

+72.0

(190.0)

(441.0)

(251.0)

576.0

397.0

(179.0)

Approx. 50%

52%＊

＊Record High

¥40(*1)

¥42(*1)＊

¥150.0 bn

¥170.0 bn＊

Approx. 16%

Approx. 15%

¥123

¥128＊

91.6%

93.2%＊

  • Plan for steady profit growth, while strengthening the foundation for significant future growth

  • Pursue growth investments and shareholder returns, aiming to deliver sustainable EPS growth over the medium to long term

Profit Plan

EPS

¥137

YoY ＋¥9

Consolidated net profit

¥950.0 bn

YoY ＋¥49.7bn

Growth Investment

NET DER

Approx. 0.6times

Investment amount

¥1.5 tn level

Shareholder Returns

Total payout ratio

64%

(Initial forecast)

DPS

Maintain progressive dividend

¥44 or higher

Share buybacks

¥300.0 bn or more

Basic Policy

Maintaining highly efficient management

ROE 15%

Sustainable EPS growth

Approx.

Sustainable enhancement of market capitalization

To become a globally preferred company, beyond the boundaries of a Japanese trading company.

Before FY2023

After the announcement of

  • Built a solid financial foundation by maintaining a positive core free cash flows after deducting shareholder returns over each medium-term management plan period (approx. 3 years)

  • Steadily increased the shareholder return ratio

Management Policy (April 2024)

FY2026

  • Actively pursue growth investments under the policy of “No growth without investments”

  • Commit to maintaining

“total payout ratio of 40% or higher” over the long term and further enhanced shareholder returns

Accelerate growth investments to raise the earnings level

―Cash allocation to drive earnings growth and enhance corporate value—

Net investment

Shareholder returns

2

1.5

Shareholder returns

Total payout ratio of 64%

(trillion yen)

1

0.5

0

Core operating cash flows

Net investment cash flows

31%

25% 33%

63%

77%

39%

Shareholder returns

(dividends + share buybacks)

％： The ratio to core operating cash flows

0.6

63%

47%

0.4

42%

49%

Net investment

Approx.

1.3

130%

Total payout ratio

64%

(Initial forecast)

DPS

¥44 or higher

Share buybacks

¥300.0 bn or more

Accelerate growth investments to deliver a step-change in earnings

Growth investments (gross)

¥1.5 tn level

EXIT

Approx. ¥200.0 bn

Accelerate growth by utilizing financial leverage

NET DER Approx. 0.6 times

Core operating cash flows

Approx.

1.0

BND2017 BND2020 BND2023 FY2024 FY2025

(Average of 2015-17) (Average of 2018-20) (Average of 2021-23)

FY2026(image)

Accelerate the enhancement of corporate value

NET DER

0.51 times 0.46 times

Accelerate growth investments to deliver a step-change in earnings

In addition to investments to strengthen each segment,

we will pursue investments to create new core businesses with profit contributions of around ¥10.0 billion

Key areas for investments to raise the earnings level

Basic Industry-

Consumer-related

Retail

Food

Real Estate Finance

ICT

related Power

Mobility

Resource

Build up high-quality interests

Strengthening and expanding the value chain, including capital strategy

Hands-on Management

Core Business

Horizontal collaboration and creating synergies across sectors

Transforming business model

by capturing change

(Market-in approach)

Continue disciplined investment management and build up high-quality assets with high growth visibility

¥1.5tn

Investment level

New

¥1.2tn

investments

ROI

over 8%

(cost of capital)

¥838.0 bn

¥766.0 bn

Building up

¥100.0bn

core profits

FY25 Profit contribution

¥220.0 bn ＝

ROI

10%

FY2024

FY2025

FY2026

FY15-23 Investment amount ¥2.28 tn

(Ref) Return in Non-Resource(*1)

CAPEX

¥243.0 bn

CAPEX

¥289.0 bn

CAPEX

Approx.

¥300.0 bn

Investments

for steady growth across all segments

New

investments

¥523.0 bn

New

investments

¥549.0 bn

Investments

to raise the earnings level

Achieve high ROI

through ITOCHU’s unique value creation

(*1) Calculated based on investment projects in Non-Resource sector of over ¥5.0 bn (excluding CAPEX and exited projects). For additional acquisitions related to existing businesses, only the profit attributable to the additional investment amount is included.

Total payout ratio: Surpass the “40% or higher” target in Management Policy for 3 consecutive years, with share buybacks of ¥300.0 bn (+¥130 bn YoY) or more.

Dividend: Progressive dividend is clearly set out in Management Policy.

For FY26, we aim for DPS of ¥44 or higher, marking 12 consecutive years of dividend increases.

Record

High

Share buybacks

¥300.0 bn or more

Maintaining 12 consecutive years of dividend increases

Record

¥44 or higher High

Dividend per share

64 % （initial forecast）

Total payout ratio

FY26

Shareholder

Returns

Dividend per share (yen)(*1)

Total payout ratio (%)

44

.0 75

40.0

42.0

or higher

65

28

64%

.0

32.0

Management Policy

（M

edium- to Long-term commitme

nt）

55

10

.0

14.0

16.6

17.0

17

22.0

.6

45

33

(FY) 2015

Share buybacks

(billion yen)

11.0

29

2016

35

25

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Total Payout Ratio

40% or higher

Dividend

Progressive dividend

Executed share buybacks actively and continuously for 11 consecutive years

34

36

38

39

27

33

41

49

52

3or0m0o.r0e

170.0

150.0

100.0

60.0

60.0

13.5

62.0

68.0

27.9

16.2

(*1) Dividend per share has been retroactively adjusted to reflect the share split on January 1, 2026 (5-for-1 split of common shares). The amounts are calculated as pre-split dividend × 1/5 (rounded to one decimal place).

FY2025 Business Results

Copyright © ITOCHU Corporation. All Rights Reserved.

FY2025 Profit Results

770.0

Resource prices

(10.0)

Forex

(17.0)

＋49.5／

Resource

(38.0) (*3)

New investments

＋23.0

FY25 ＋13.0

FY24 ＋10.0

Organic growth

＋6.5

Non-Resource

781.5

Extraordinary gains and losses

119.0

(Unit：billion yen)

・ Non-Resource

(2.0)

・ Resource (15.0)

900.3

Non-Resource

610.5

Non-

Resource

79%

・ Iron ore

・ Yen/US$

・ Iron ore (4.0)

・ Coal (5.0)

・ Crude Oil (1.0)

(*1)

Tariffs impact (10.0)

Turnarounds

＋19.0

+7.0

  • Two coking

    coal projects

    +8.0

  • Dole

(Exclude tariffs impact)

etc.

Major items:

  • The 8th : FamilyMart

  • Textile : DESCENTE

  • ICT & Financial Business : CTC

  • Machinery : North American power

Non-Resource

  • Metals & Minerals：IMEA, Aluminum transactions

  • Energy & Chemicals：LNG dividends

Resource

(*3)

＋26.5

(20.0)

Non-Resource

651.5

Non-Resource

84%

Non-Resource

Major items:

  • Sale of CPP 88.0

  • Pulp business 17.5

    restructuring

  • Settlement

payment in a 14.0

lease company

774.7

Non-Resource

85%

Resource

166.0

US$105 → US$102

・ Crude Oil

US$ 78 → US$ 69

152.62 → 150.67

etc.

Resource

128.0

Resource

133.3

FY24

Core profit(*2)

(*1) Forex valuation losses are included.

(*2) The total includes “Others.”

(*3) Non-Resource includes “Others.”

FY25

Core profit(*2)

FY25

Consolidated net profit (*2)

FY2025 Consolidated Net Profit by Segment

(Unit : billion yen)

FY24

FY25

Inc/Dec

Core profit

Extra. G&L(*1)

Consolidated net profit

Core profit

Extra. G&L(*1)

Consolidated net profit

Core profit

Extra. G&L(*1)

Consolidated net profit

Textile

28.3

45.5

73.8＊

41.3＊

2.0

43.3

+ 13.0

(43.5)

(30.5)

Machinery

132.5

4.0

136.5

141.1＊

14.5

155.6＊

+ 8.6

+ 10.5

+ 19.1

Metals & Minerals

178.4

—

178.4

146.0

(2.5)

143.5

(32.3)

(2.5)

(34.8)

Energy & Chemicals

74.6

4.0

78.6

69.8

(0.5)

69.3

(4.8)

(4.5)

(9.3)

Food

73.1

12.0

85.1

84.1＊

8.0

92.1

+ 11.0

(4.0)

+ 7.0

General Products & Realty

54.7

15.0

69.7

44.8

16.0

60.8

(9.9)

+ 1.0

(8.9)

ICT & Financial Business

82.2

1.0

83.2

90.0＊

3.0

93.0

+ 7.8

+ 2.0

+ 9.8

The 8th

34.6

30.5

65.1

45.5＊

(0.5)

45.0

+ 10.9

(31.0)

(20.1)

Others, Adjustments & Eliminations

111.9

(2.0)

109.9

118.6＊

79.0

197.6＊

+ 6.8

+ 81.0

+ 87.8

Total(*2)

770.0

110.0

880.3

781.5

119.0

900.3＊

+ 11.5

+ 9.0

+ 20.0

Non-Resource

610.5

107.0

717.7

651.5＊

123.0

774.7＊

+ 41.0

+ 16.0

+ 57.0

Resource

166.0

6.5

172.6

128.0

5.5

133.3

(38.0)

(1.0)

(39.4)

Others

(6.5)

(3.5)

(10.0)

2.0

(9.5)

(7.7)

+ 8.5

(6.0)

+ 2.3

Non-Resource (%)(*3)

79%

—

81%

84%

—

85%

Increased 5pt

—

Increased 5pt

880.3

900.3

FY24

FY25

Non-Resource

774.7

(Record High)

Non-Resource

717.7

(*1) Extra. G&L means “Extraordinary Gains and Losses.”

(*2) The total amount of core profits are approximate.

(*3) % composition is calculated using the total of Non-Resource and Resource sectors as 100%.

＊Record High

FY2025 Core Profit by Segment

(Unit : billion yen)

FY24

FY25

Inc/Dec

Summary of Changes

Textile

28.3

41.3＊

+ 13.0

【＋】 Overseas sports sector such as DESCENTE：Stable performance

【＋】 DESCENTE：Conversion into a consolidated subsidiary

【＋】 OEM business including Convenience Wear：Stable performance

【＋】 Expo(*1)-related business：Stable performance

(*1) Expo 2025 Osaka, Kansai, Japan

Machinery

132.5

141.1＊

+ 8.6

【＋】 North American power business：Increase in electricity sales revenue due to the demand for electricity and the absence of maintenance in FY24

【＋】 Citrus Investment：Increased shareholding ratio of Hitachi Construction Machinery and increase in sales in Europe and independently developed businesses in the U.S.

【＋】 AICHI CORPORATION ：Start of equity pick-up

【－】 Shipping business：Absence of the gain on the sale of ships in FY24 and decrease in charter income

【－】 Overseas automobile business：Lower sales volume in North America and forex impact, etc.

【－】 YANASE：Decrease in new car sales volume and decline in profitability in used car transactions

Metals & Minerals

178.4

146.0

(32.3)

【－】 IMEA 〔－〕 Lower iron ore and coal prices, increase in costs and forex impact

〔＋〕 Fitzroy (Australian coking coal project) improvement in operation

【－】 CM：Lower earnings due to forex valuation loss partially offset by stable operation 【＋】 U.S. coking coal project：Restart of operations

【－】 Aluminum transactions：Absence of favorable performance in FY24

【－】 MISI：Delayed recovery in steel material and pipe prices

Energy & Chemicals

74.6

69.8

(4.8)

【－】 Decrease in dividends received from LNG projects

【－】 Japan South Sakha Oil：Lower production volume and forex valuation loss on foreign currency deposits

【－】 CIECO Azer：Lower sales prices

【＋】 C.I. TAKIRON：Increase in transaction of civil engineering and

film business, and increased ownership

【＋】 Electricity transactions：Increase in transactions and improvement in profitability

【＋】 ITOCHU PLASTICS：Increase in transactions of packaging goods and electronic materials

Food

73.1

84.1＊

+ 11.0

【＋】 Provisions-related transactions/companies：Improvement in profitability

【＋】 Dole：Higher production and sales volume of bananas and increase in transactions of packaged foods business

【＋】 ITOCHU-SHOKUHIN：Expansion of transactions

General Products & Realty

54.7

44.8

(9.9)

【－】 IFL：Downturn in pulp prices and increase in costs

【－】 DAIKEN：Decline in profitability in domestic business and lower earnings in overseas business

【－】 North American construction-materials business：Underperformance of housing structural materials business

【＋】 ETEL：Favorable performance in the after-sales service business

【＋】 Nishimatsu Construction：Start of equity pick-up

ICT & Financial Business

82.2

90.0＊

+ 7.8

【＋】 CTC：Favorable performance

【＋】 HOKEN NO MADOGUCHI GROUP：Higher agency commissions

【＋】 Increase in remeasurement gains and losses for fund held investments

【＋】 Overseas retail-finance-related companies：Improvement in profitability

【＋】 Gaitame.Com ：Increase in FX transaction

【－】 Mobile-phone-related business：Lower earnings due to contract changes

【－】 POCKET CARD：Increase in costs for newly partnered card issuance and in interest expenses

【－】 Orient Corporation：Excluded from the equity method in FY24

The 8th

34.6

45.5＊

+ 10.9

【＋】 FamilyMart ：Increase in daily sales resulting from enhancement of product competitiveness and sales promotion, strengthening of business foundations such as the reorganization of store network, and expansion of transactions in the advertising and media business, etc.

【＋】 AND PHARMA/Seven Bank：Start of equity pick-up

Others,

Adjustments & Eliminations

111.9

118.6＊

+ 6.8

【＋】 Orchid 〔＋〕 Decrease in interest expenses

〔＋〕 CITIC Limited：Stable performance in comprehensive financial services segment

〔－〕 Appreciation of the yen

【－】 CPP：Excluded from the equity method in FY25

Total (Approx.)

770.0

781.5

+ 11.5

Copyright © ITOCHU Corporation. All Rights Reserved. ＊Record High 10

New Investment

CAPEX

523.0

243.0

766.0

FY24

Major items

  • DESCENTE (Privatized)

  • WECARS

  • Nishimatsu Construction

    (Additional investment)

  • North American construction-materials business

  • PASCO

  • FamilyMart / ETEL / Dole / CTC / Prima, etc.

  • C.I. TAKIRON (Privatized)

  • North American power business

  • Hitachi Construction Machinery

(Additional investment)

  • ITOCHU ENEX, etc.

Amount

405.0

176.0

  • CM (Additional investment)

  • ● IMEA iron ore interest / CAPEX

  • CIECO Azer, etc.

185.0

Overseas real estate company

(Partial sale)

FUJI OIL INTERNATIONAL

Orient Corporation (Partial sale)

(190.0)

Net Investment(*1)

576.0

Investment Results

FY25

  • : New Investment ● : CAPEX

(Unit：billion yen, the figures are approximate)

Major items Amount Q1 Q2 Q3 Q4

[ ]: amount in Q4

| Consumer-related sector |

Total

477.0 127.0

59.0

219.0

72.0

768.0

[129.0]

70.0

[12.0]

  • Seven Bank

65.3

63.7

1.6

  • DESCENTE (Squeeze-out)

46.2

46.2

  • AND PHARMA

16.2

16.2

  • We Sell Cellular

6.9

6.9

  • Nishimatsu Construction (Additional investment)

4.6

4.6

Non-Resource

  • Wood Partners

  • FamilyMart / Dole / DAIKEN / ETEL / CTC / Prima, etc.

ー(*2)

182.0

ー

ー

ー (*2)

ー

ー

| Basic Industry-related sector |

Total

291.0 163.0

23.0

48.0

57.0

  • Kawasaki Motors

80.3

80.3

  • Hitachi Construction Machinery (Additional investment)

41.4

35.9

5.5

  • North American power business

34.7

21.6

13.1

  • AICHI CORPORATION

23.8

23.8

  • YANASE (Additional investment)

6.1

6.1

  • ITOCHU ENEX / C.I. TAKIRON, etc.

73.0

ー

ー

ー

ー

Resource

Total

70.0 7.0

13.0

38.0

12.0

  • IMEA iron ore business

6.2

ー

ー

6.2

ー

ー

  • IMEA / CIECO Azer, etc.

34.0

Growth Investment (gross)

New Investment

549.0

CAPEX

289.0

838.0

[141.0]

EXIT

C.P. Pokphand Orient Corporation

(156.8)

(18.1)

(156.8) (*3)

(9.5)

(8.7) (441.0)

PROVENCE HUILES

(17.1)

(17.1)

JAMCO

(15.1)

(7.9)

(6.2)

(1.0)

Total (441.0) (201.0) (54.0) (113.0) (73.0)

[(73.0)]

397.0

[68.0]

Net Investment(*1)

(*1) Payments and collections for substantive investment and capital expenditure. “Investment cash flows” plus “Equity transactions with non-controlling interests” minus “Changes in loan receivables”, etc. For the acquisition and sale of subsidiaries, the investment and exit amounts are

shown before deducting the subsidiaries’ cash and cash equivalents. (*2) Based on contractual confidentiality obligations, the amount is not disclosed. (*3) The total amount from the sale of shares (¥156.8 billion) and the dividend is approximately ¥190.0 billion.

Profits / Losses of Group Companies

Number / Ratio of Group Companies Reporting Profits

FY25 Ratio of Group

Profits / Losses of Group Companies

(Unit : billion yen)

(Unit：billion yen)

800

¥782.6billion

Companies Reporting Profits

600

400

200

Number of

Number of Group companies

265

100%

90%

80%

70%

93.2%

Record high

FY24

FY25

Increase/ Decrease

811.9

800.1

(11.8)

(20.1)

(17.6)

+ 2.5

791.8

782.6

(9.3)

Profits of Group Companies

Losses of Group Companies

0 Gro3up c9om3panies

(200)

60%

50%

Total

(FY)

2010 2015 2020 2025 0%

0%

Profits of Group Companies Losses of Group Companies

Profits / Losses of Group Companies Ratio of Group Companies Reporting Profits

Number / Ratio of Group Companies Reporting Profits

Subsidiaries

Associates and Joint Ventures

Number of Group Companies

Ratio

FY24

FY25

Increase / Decrease

Profits

Losses

Total

Profits

Losses

Total

Profits

Losses

Total

169

16

185

178

8

186

+ 9

(8)

+ 1

72

6

78

69

10

79

(3)

+ 4

+ 1

241

22

263

247

18

265

+ 6

(4)

+ 2

91.6%

8.4%

100%

93.2%

6.8%

100%

+1.6%

(1.6%)

(*) The number of companies above includes investment companies directly invested by ITOCHU and its overseas trading subsidiaries. Investment companies that are considered as part of the parent company are not included.

FY2026 Management Plan

Copyright © ITOCHU Corporation. All Rights Reserved.

FY2026 Profit Plan

Achieve a step-change in earnings through a “gear shift”

(Unit：billion yen)

Resource prices

Impact from

+93.5／

FY26

  • Hitachi Construction Machinery

  • North American power

  • ITOCHU-SHOKUHIN

  • Sun Frontier

FY25

etc.

Non-Resource

FY25

Resource +25.0

New investments

+65.0

(40.0)

Organic growth

+40.0

900.0

90.0

Extraordinary gains & losses

Incorporating risk scenarios

Buffer

950.0

・Resource prices (4.0)

・Forex ±0

(Yen/US$150.67→150.00)

781.5

FY25

Core Profit

Active replacement of low-efficiency assets & peak-out businesses

/Forex

(4.0)

Middle East

situation

(Subsiding in Q1 scenario)

(7.5)

underperformers turned around

+25.0

Major items：

  • Two coking

    coal projects +12.5

  • IFL (Metsä Fibre +8.0

deconsolidation) etc.

Major Items：

FY25 ＋15.0

FY26 ＋50.0

  • DESCENTE

  • CTC

  • Tokyo Century

  • MISI

  • North American Construction-Materials

  • Dole

  • CM etc.

  • Seven Bank

  • North American power

  • AND PHARMA etc.

FY26

Core Profit

FY26

Consolidated net profit

FY2026 Consolidated Net Profit plan by Segment

(Unit : billion yen)

FY25 Reclassified Results

FY26 Plan

Inc/Dec

Comments for FY26 Plan

Core Profit

Extra G&L(*1)

Consolidated Net profit

Textile

41.3

2.0

43.3

52.0

+ 8.7

【＋】DESCENTE：Accelerated growth through expansion of directly operated stores, the footwear business, and the China business

【＋】EDWIN：Expansion in the casualwear field by leveraging its sales platform

Machinery

141.1

14.5

155.6

180.0

+ 24.4

【＋】Citrus Investment：Higher shareholding ratio of Hitachi Construction Machinery and solid demand and price pass-through at the company

【＋】Profit contributions from Kawasaki Motors and AICHI CORPORATION

【＋】North American power business：Continued strong performance driven by growing electricity demand

【－】Absence of extraordinary gains in FY25

Metals & Minerals

146.0

(2.5)

143.5

172.0

+ 28.5

【＋】Two coking coal projects：Turnaround

【＋】CM：Absence of forex valuation losses in FY25

Energy & Chemicals

69.8

(0.5)

69.3

75.5

+ 6.2

【＋】Higher volumes and improved profitability in LNG, LPG, and electricity transactions

【＋】Chemical business: Enhance profitability at ITOCHU CHEMICAL FRONTIER, ITOCHU PLASTICS, and others

【－】LNG dividends：Decline in volumes on an equity

basis

Food

98.5

8.0

106.5

115.5

+ 9.0

【＋】ITOCHU-SHOKUHIN：Increased profit contributions due to the conversion into a wholly owned subsidiary

【＋】Dole：Recovery in production in the fresh produce business and increased sales volume in the packaged foods business

【－】 Absence of extraordinary gains in FY25

【－】 FamilyMart：Slight profit decline due to cost increases from external factors, despite improved profitability from stronger promotions

General Products & Realty

44.8

16.0

60.8

63.0

+ 2.2

【＋】IFL：Halted losses through a capital restructuring

【＋】North American construction-materials business：Strengthen the fence business and reinforce lean management

【＋】Profit contributions from Nishimatsu Construction, Sun Frontier Fudousan, etc.

【－】 Absence of extraordinary gains in FY25

ICT & Financial Business

90.0

3.0

93.0

97.0

+ 4.0

【＋】CTC：Further growth through the promotion of the digital value chain strategy

【＋】HOKEN NO MADOGUCHI GROUP：Strengthen business foundation through enhancement of customer experience and services

【－】 Mobile-phone-related business：

Lower earnings due to contract changes

The 8th

31.1

(0.5)

30.6

31.5

+ 0.9

【＋】Profit contributions from Seven Bank and AND PHARMA

【－】Increase in interest expenses

Others, Adjustments & Eliminations

118.6

79.0

197.6

163.5

(34.1)

【－】Absence of extraordinary gains in FY25 and loss buffers

【＋】Extraordinary gains from asset replacements, etc.

Total(*2)

781.5

119.0

900.3

950.0

+ 49.7

Non-Resource (%) (*3)

84%

—

85%

Approx. 80%

(*1) Extra. G&L means “Extraordinary Gains and Losses.” (*2) The total amount of core profits are approximate. (*3) % composition is calculated using the total of Non-Resource and Resource sectors as 100%.

Changes from FY25

  • From FY26, the responsible Division Company for FamilyMart is transferred from The 8th to the Food (profit contributions from FamilyMart will be recognized at a ratio of 3:7 between the Food and The 8th).

  • The 8th Company will further focus on enhancing profitability by leveraging its cross-divisional functionality in companywide initiatives, including FamilyMart.

Assumptions

Exchange rate (Yen/US$)

Average

Closing

Interest rate (%)

TIBOR 3M (¥)

SOFR 3M (US$)

FY24

152.62

149.52

0.48%

4.81%

78.21

105 (*2)

FY25

150.67

159.88

0.90%

4.00%

69.02

102 (*2)

FY26

Plan

150

150

1.50%

3.75%

80

N.A. (*3)

(Reference) Sensitivities on consolidated net profit for FY26

1 Yen fluctuation against US$

Approx.

±¥3.2 bn (*1)

—

0.1%

fluctuation of interest rate

—

—

± ¥0.08 bn (*4)

± ¥1.85 bn (*4)

Crude oil (Brent) (US$/BBL) Iron ore (CFR China) (US$/ton)

(*1) The impact in case the average exchange rate during FY26 depreciated(increase)/appreciated(decrease) is shown.

(*2) FY24 and FY25 prices for iron ore are prices that ITOCHU regards as general transaction prices based on the market.

(*3) The prices of iron ore used in the FY26 Plan are assumptions made in consideration of general transaction prices based on the market.

The actual prices are not presented, as they are subject to negotiation with individual customers and vary by ore type. (*4) The above sensitivities vary according to changes in sales volume, foreign exchange rates, production cost, etc.

Appendix FY2026 Management Plan

Copyright © ITOCHU Corporation. All Rights Reserved.

Management Policy ―Revision of Shareholder Return Policy—

Announced Management Policy, “The Brand-new Deal” in April 2024. In addition, we commit to single-year management plans, disclosed at the start of each fiscal year, to drive sustainable corporate value growth.

In May 2026, we clearly set out the policy of Progressive Dividend in the Management Policy.

—Profit Opportunities Are Shifting Downstream—

We aim to achieve sustainable enhancement in corporate value, by having all employees, from the business divisions to the administrative divisions, always enhancing their marketing capabilities, leveraging the assets and expertise of upstream and midstream, which we have been building up for over 160 years since our founding, while developing and evolving downstream businesses that are closer to consumers.

Grow earnings

No growth without investments

Enhancement of corporate brand value

Enhancement in qualitative aspects

Shareholder returns

Total payout ratio 40% or higher Progressive Dividend

Advance asset allocation for stable growth while applying “The Four Lessons for Investments,” ensuring rigorous discussions at Investment

Consultative Committee, and continuing disciplined asset replacements with no exceptions.

While maintaining balance sheet management in line with an A credit rating, we pursue both growth investments and shareholder returns in FY2026.

Improving ROA in each segment

ROA

Centralized asset allocation

ROE

15

%

(Target)

ROA

(FY2025)

5.7%

(FY2025) Approx.15%

Financial

leverage

Centrally controlled by the management

NET DER

0.0

(FY2025)

0.46 times

Initiatives to improve ROA in each segment

Total assets trend

FY2025

FY2010

Non-Resource

(FY) 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

¥1.2 tn

ROA 8.7%

Resource

ROA

¥1.7 tn 8.6%

Resource

¥3.9 tn

ROA 2.0%

Non-Resource

ROA

¥14.6 tn 5.5%

Non-Resource

Enhancing financial leverage

NET DER trend

1.5

1.0

Approx.

0.6 times

0.5

Growth

Shareholder returns

Balancing Three Factors

Control of

investments

Interest-bearing debt

(FY) 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

  • Growth investments with high visibility aimed at creating new core businesses

About ¥300.0 bn, representing one-quarter of the FY2026 new investment plan, has already been committed across the following four areas

Mobility

Power

Food

Real estate

Expansion of alliances in the mobility sector

Capturing rapidly growing power demand from AI and data centers

Building a platform in the food distribution industry, including food and confectionery wholesalers

Strengthening the real estate value chain and pursuing synergies in Japan and overseas

FY26 investment

Hitachi Construction Machinery

  • Additional investment: ¥134.1 bn

  • Attributable profit increase: Over ¥10.0 bn

  • Increased shareholding ratio from 20.4% to 33.4%

  • Strengthen support leveraging our capabilities (overseas sales, sales finance, personnel support) while enhancing synergies through trading and adjacent business collaboration

FY26 investment

North American power

(Bowman Wind Power Plant)

  • Investment: Approx. ¥20.0 bn

  • Expecting ROI of over 10% for the entire North American power business

  • A Wind Power Plant supplying renewable energy to 100,000 households in the U.S.

  • Balanced development of stable income assets, high-efficiency renewable developments, and O&M business

    North American power business

    FY26 investment

    ITOCHU-SHOKUHIN

    • Additional investment: ¥78.4 bn

    • Attributable profit increase: Over ¥4.0 bn

    • Fully acquired a listed food wholesaler (formerly 52.5% owned) strong in ambient products and alcoholic beverages

    • Strengthen the business base in growth areas such as chilled and frozen, improve logistics efficiency, and create new opportunities in digital fields

FY26 investment

Sun Frontier Fudousan

  • Investment: ¥32.0 bn

  • Target of profit contribution ¥4.0 bn

  • 21.2% investment in the No.1 old office renovation player (market share of 38%*)

  • Capture the ¥24tn Japanese real estate

    aftermarket growing at 5% CAGR

    Future profit target: ¥40.0 bn

    * Survey conducted in February 2024. Planned by Sun Frontier Fudousan and conducted by H.M. Marketing Research.

    • Cross-sector collaboration and business reorganization leveraging existing businesses

      Accelerating further growth through horizontal collaboration and expansion across business areas (retail, logistics, finance, etc.)

      Strategic alliance in the real estate sector with East Japan Railway Capital and business alliance with Seven Bank, Ltd.

      Merge both subsidiaries(JR East 60%, ITOCHU 40%), with the new company starting in Oct 2026 Entered into a capital and business alliance agreement and acquired 20% shares at ¥65.3bn

      People’s life along

      railway lines

      Business Integration

      Know-how in consumer sector

      Transitioning from

      a "cash-in/cash-out infrastructure" to a "multi-functional service platform"

      Building Japan’s largest

      ATM network

      FamilyMart Nationwide network of

      16,400

      stores

      Creating new business models by integrating financial operations of each company

      Providing diverse financial services

      Publicity and trust

      Real and digital customer contact points

      Combining the strengths of a railway company and a trading company

      To become Japan’s leading

      comprehensive developer

      Network & extensive business foundation

      Ideas based on

      Market-in approach

      Seven Bank

      Approx.

      28,000 unit

      Seven Bank

      Increase in installations

      Installing advanced function ATMs in FamilyMart

      FamilyMart

      Improve customer convenience

      Cards Payments Loans

      Offering a wide range of financial services under the FamilyMart original brand

      • Scale advantages

      • Increase in usage

      Extensive value creation based on Market-in approach beyond the real estate sector

      Pursuing further business development in the financial sector,

      Payment

      Digital Logistics Purchase Finance

      Advertisement

      Overseas etc.

      in addition to expanding revenues from ATM-related businesses at both Seven Bank and FamilyMart

      • Driving growth in areas of deep expertise

Accelerating growth through the hands-on management and our Market-in approach

Privatized

in 24Q4

¥19.0bn

(100%)

3.6x

DESCENTE

Profit from the company:

¥5.3bn

Ownership: (44.5%)

2023

2025 2026(Plan)

  • Delivered a growth strategy in the fast-growing sports apparel market by leveraging strong partners

  • Enhancing brand value through strengthening directly operated stores and product competitiveness, while driving decisive hands-on management transformation

Privatized

in 23/Q3

CTC

¥65.0bn

(99.95%)

3.1x

¥20.9bn

(61.2%)

2022

2025 2026(Plan)

  • Privatized ahead of peers in the industry to capture future

    demand for generative AI and digital transformation

  • Driving growth by building our group of digital businesses through collaboration with strategic partners under ITOCHU’s leadership

FamilyMart

Privatized Consolidated in 20/Q3

in 18/2Q

¥11.8bn

(40.9%)

¥51.5bn

(94.7%)

4.4x

  • Enhanced and expanded product and service capabilities through group-wide know-how and supply chains

  • Creating and expanding new businesses and synergies centered on media and data

2017

2025 2026(Plan)

Dialogue with Stakeholders

Investor / Analyst Evaluations Integrated Report Awards DX Awards Website Awards Design Awards

Highly regarded by Top-ranked among Selected for the first time Top honors from all three major Highly regarded as market-oriented market participants Japanese companies as a DX Stocks website evaluation organizations disclosure materials

for 2 consecutive years

  • Chairman & CEO Okafuji named “Best CEO” Selected for the first time as a company Triple crown for two consecutive years

    (14 consecutive years) NIKKEI Integrated Report Award recognized for promoting DX that across all major IR and sustainability IR Good Visual Award

  • Former CFO Hachimura named “Best CFO” enhances corporate value through (for the first time in nine years;

    (9 consecutive years) Grand Prize outstanding digital utilization website evaluation organizations one of only seven winners)

  • “Most Honored Company”and one of three

Japanese companies with the highest rating

Human Capital

SDGs Initiatives

In major company rankings among job seekers,

No.1 across all industries

in 6 out of 7 rankings, and

No.1 general trading company Nadeshiko Brands

for 7 consecutive years 2026 Outstanding Organizations Selected by METI and TSE

from all 7 rankings of KENKO Investment for Health enc as a company outstanding in ent

ouraging women's empowerm

Ministry of the Environment "ESG Finance Awards Japan“ Issued the orange bond

Gold Award Issued Japan’s first orange bond with proceeds

(Minister of the Environment Award) limited to gender-positive initiatives, and

No.1 among general trading companies received a Sustainable Bond Award

in major ESG ratings Enhancing PROJECT TREE promotion

Established and launched operations in June 2025 for PROJECT TREE,

a company promoting sustainable natural rubber procurement

※The use by ITOCHU Corporation of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of ITOCHU Corporation by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI. The inclusion of ITOCHU Corporation in any MSCI Index, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement or promotion of ITOCHU Corporation by MSCI or any of its affiliates. The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI index names and logos are trademarks or service marks of MSCI or its affiliates.

Conducted a Share Split

Conducted a share split of 1 common share

into 5 shares, effective January 1, 2026

Proactively held briefings for individual investors

Advancing IR activities through dialogue with investors

1 Dialogue with Outside Directors

2

IR Events/Briefings

３ Briefings for Individual Investors

FY2025

FY2025

View the materials

Held a small meeting with Outside Directors for institutional investors

Hosted events to deepen understanding of ITOCHU from various perspectives

FY2026

First Investor Day to be held

Scheduled for

Wed, July 8, 2026

ITOCHU Corporation IR Day

―ITOCHU Day—

4 Enhancement of Disclosure

FY2025

Publication of Investors Guide

A company overview mainly for institutional investors, published in September 2025

FY2026

Posted updates on sustainability initiatives on our website

View the material

FY2026

Timely Disclosure Briefing held for the first time

The first Timely Disclosure Briefing, focusing on Hitachi Construction Machinery, was held in April 2026

View the materials

FY2026

First small meeting with

all Outside Directors participating

In April 2026, held a small meeting with participation by all four Outside Directors for the first time

View the materials

View the materials

Retail media

business briefing

Digital strategy briefing

with the CXO

DESCENTE

Mizusawa Factory Tour

Through consistent annual performance, ITOCHU has outperformed key benchmarks over the medium to long term

7.6x

S&P500 3.2x

TOPIX

2.3x

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

ITOCHU

+12%

+8%

+36%

(11%)

+36%

+17%

+19%

+18%

+39%

+36%

+26%

TOPIX

+10%

(2%)

+20%

(18%)

+15%

+5%

+10%

(5%)

+25%

+18%

+22%

Copyright © ITOCHU Corporation. All Rights Reserved.

2015 2020 2025

(*) Stock price trend from March 31, 2015, using the closing price as 1, to March 31, 2026

25

ITOCHU is the only TOPIX constituent

to outperform the TOPIX for 11 consecutive years

+36%

+36%

+39% +36%

+26%

+12% +8%

+17% +19% +18%

(11%)

Only ITOCHU

11 consecutive years outperforming TOPIX

7 consecutive years : 2 companies

5 consecutive years：

32 companies

Operating Segment Information

PDF File

〔Ref〕 Areas with High Growth Potential by Segment ・・・・・

Copyright © ITOCHU Corporation. All Rights Reserved.

Textile

(Unit : billion yen)

FY24

FY25

Inc / Dec

Consolidated net profit

73.8＊

43.3

(30.5)

Core profit

28.3

41.3＊

+ 13.0

Core operating cash flows

28.1

34.7

+ 6.6

Total assets

782.1

751.9

(30.2)

FY26

Plan

Inc / Dec

52.0

+ 8.7

FY26 Plan

Consolidated net profit 52.0 [+8.7 vs. FY25]

【＋】 DESCENTE：Accelerated growth through expansion of directly operated stores, the footwear business, and the China business

【＋】 EDWIN：Expansion in the casualwear field by leveraging its sales platform

FY25 : Major changes from FY24

Core profit +13.0 [28.3→41.3]

【＋】 Overseas sports sector such as DESCENTE：Stable performance

【＋】 DESCENTE：Conversion into a consolidated subsidiary

【＋】 OEM business including Convenience Wear：Stable performance

【＋】 Expo*4-related business：Stable performance

Extraordinary gains & losses (43.5) [45.5→2.0]

FY25 [Q4] Impairment loss on a Chinese apparel company : (1.5)

[Q3] Partial sale of SUNRISE (textile manufacturing company) in IPA : 3.5

FY24 [Q4] Impairment loss on DOME CORPORATION : (3.0)

[Q3] Revaluation gain resulting from the conversion of

DESCENTE into a consolidated subsidiary : 50.0

＊Record High

Major Group Companies (Ownership)

JOI’X (100%)

LEILIAN (100%) DESCENTE (100%*1) DOME (69.7%)

EDWIN (100%)

Sankei (100%)

IPA*2(100%)

ITS*3(100%)

*4 Expo 2025 Osaka, Kansai, Japan

FY25

DESCENTE (Squeeze-out)

[Q1 ¥46.2bn]

Ref FY24

  • DESCENTE (Privatized)

[Q3 ¥136.3bn]

Major Investments and EXIT

EXIT

Investment

FY24

FY25

Inc / Dec

1.3

0.9

(0.4)

0.3

0.3

+ 0.0

7.0

13.2

+ 6.1

(3.4)

0.1

+ 3.5

0.4

0.5

+ 0.1

1.6

1.2

(0.4)

1.9

9.0

+ 7.1

1.9

4.0

+ 2.1

FY26

Plan

Inc / Dec

1.3

+ 0.4

0.7

+ 0.4

19.0

+ 5.8

0.2

+ 0.1

1.2

+ 0.7

1.5

+ 0.3

2.9

(6.1)

4.6

+ 0.6

*1 ITOCHU’s ownership percentage in FY24 is: Q1 44.5%; Q2 44.4%; Q3 85.9%; Q4 100%

*2 ITOCHU Textile Prominent (ASIA) Ltd.

*3 ITOCHU TEXTILE (CHINA) CO., LTD.

Machinery

+ 436.8

Plant Project, Marine & Aerospace

2,166.6

+ 10.1

117.9

+ 4.1

82.7＊

78.6

+ 4.5

58.4＊

+ 8.6

Automobile, Construction Machinery & Industrial Machinery

128.0

Inc / Dec

FY25

FY24

155.6＊

56.9

Automobile, Construction Machinery & Industrial Machinery

Plant Project, Marine & Aerospace

136.5

2,603.5

53.9

141.1＊

132.5

+ 12.1

91.7＊

79.6

+ 7.0

63.9＊

+ 19.1

Major Investments and EXIT

[Q4] Partial sale of an overseas company in a leasing-related company : 9.0

[Q4] Reversal of impairment loss on RICARDO PÉREZ (Overseas automobile business) : 4.5 [Q2-4] Impairment loss in a leasing-related company : (14.0) [Q2 : (1.0), Q3 : (0.5), Q4 : (12.5)] [Q2-3] Settlement payment in a leasing-related company : 14.0 [Q2 : 13.0, Q3 : 1.0]

[Q1] Sale of JAMCO : 5.5

[Q2] Sale of an Energy-from-Waste project company in IEI : 1.5 [Q1] Partial sale of an Australian infrastructure company : 2.0

FY25

FY24

Extraordinary gains & losses +10.5 [4.0→14.5]

Core profit +8.6 [132.5→141.1]

【＋】 North American power business：Increase in electricity sales revenue due to the demand for electricity and the absence of maintenance in FY24

【＋】 Citrus Investment：Increased shareholding ratio of Hitachi Construction Machinery and increase in sales

in Europe and independently developed businesses in the U.S.

【＋】 AICHI CORPORATION ：Start of equity pick-up

【－】 Shipping business：Absence of the gain on the sale of ships in FY24 and decrease in charter income

【－】 Overseas automobile business：Lower sales volume in North America and forex impact, etc.

【－】 YANASE：Decrease in new car sales volume and decline in profitability in used car transactions

FY25 : Major changes from FY24

Investment

EXIT

FY26 Plan

Consolidated net profit 180.0 [+24.4 vs. FY25]

【＋】 Citrus Investment：Higher shareholding ratio of Hitachi Construction Machinery and solid demand and

price pass-through at the company

【＋】 Profit contributions from Kawasaki Motors and AICHI CORPORATION

【＋】 North American power business：Continued strong performance driven by growing electricity demand

【－】 Absence of extraordinary gains in FY2025

FY26

Plan

Inc / Dec

180.0

+ 24.4

68.0

+ 4.1

112.0

+ 20.3

(Unit : billion yen)

Consolidated net profit

Core profit

Core operating cash flows Total assets

＊Record High

Major Group Companies (Ownership)

Tokyo Century*1 (29.9%)

North American power business IEI*2 (100%)

ITOCHU Plantech (100%) Shipping business Aerospace business YANASE (99.0%)

Overseas automobile business

Kawasaki Motors*3 (20.0%)

FY25

Ref FY24

FY24

FY25

Inc / Dec

23.1

May 11

May 11

11.5

26.5

+ 15.0

4.0

0.0

(4.0)

1.7

1.7

+ 0.1

16.0

8.4

(7.6)

10.0

10.4

+ 0.4

13.1

12.2

(0.9)

17.1

20.4

+ 3.4

ー

May 12

May 12

ー

1.3

+ 1.3

8.6

11.2

+ 2.6

2.0

2.2

+ 0.2

6.3

6.3

+ 0.0

FY26

Plan

Inc / Dec

May 11

May 11

27.8

+ 1.3

2.3

+ 2.2

1.9

+ 0.2

8.4

(0.0)

12.8

+ 2.4

15.2

+ 3.0

16.9

(3.5)

(Not

Disclosed)

ー

2.2

+ 0.9

26.3

+ 15.1

2.2

(0.0)

6.4

+ 0.0

AICHI CORPORATION (27.3%)

Citrus Investment (100%)

ITOCHU MACHINE-TECHNOS (100%)

North American construction-machinery business

*1 The dates above are the financial announcement date of the company. *2 I-ENVIRONMENT INVESTMENTS LIMITED

*3 Disclosure of the FY25 Results is scheduled to take place after the partner, Kawasaki Heavy Industries, announces its financial results.

*4 JAMCO Corporation has been removed from the above table due to the exclusion from the equity method investments.

Kawasaki Motors [Q1 ¥80.3bn]

Hitachi Construction Machinery

(Additional investment) [Q1,Q4 ¥41.4bn]

North American power business [Q3-4 ¥34.7bn] AICHI CORPORATION [Q1 ¥23.8bn]

YANASE (Additional investment) [Q3 ¥6.1bn] JAMCO [Q1-3 ¥15.1bn]

  • North American power business [Q1,Q3 ¥26.9bn]

  • Hitachi Construction Machinery

    (Additional investment) [Q3-4 ¥20.2bn]

  • Killick (Aerospace business) [Q2 ¥4.4bn]

  • Overseas Energy-from-Waste project company [Q1 ¥3.6bn]

Metals & Minerals

FY24

FY25

Inc / Dec

178.4

143.5

(34.8)

178.4

146.0

(32.3)

209.8

184.8

(25.0)

1,506.4

1,793.4

+ 287.0

FY26

Plan

Inc / Dec

172.0

＋ 28.5

FY26 Plan

Consolidated net profit 172.0 [+28.5 vs. FY25]

【＋】 Two coking coal projects：Turnaround

【＋】 CM： Absence of forex valuation losses in FY25

(Unit : billion yen) Consolidated net profit Core profit

FY25

Ref FY24

CAPEX in IMEA [¥25.6bn]

IMEA iron ore business [Q3 ¥6.2bn]

  • CM (Additional investment) [Q3 ¥119.2bn]

  • IMEA iron ore interest / CAPEX

Major Investments and EXIT

[Q4] Group reorganization of Fitzroy (Australian coking coal project) in IMEA : (5.0) [Q4] Impairment loss on overseas company in MISI : (4.0)

[Q4] Impairment loss on metal raw material company in ITOCHU Metals : (1.0) [Q4] Group reorganization of overseas company : 7.5

FY25

Extraordinary gains & losses (2.5) [ー → (2.5)]

Core profit (32.3) [178.4→146.0]

【－】 IMEA

〔－〕 Lower iron ore and coal prices, increase in costs and forex impact

〔＋〕 Fitzroy (Australian coking coal project) improvement in operation

【－】 CM：Lower earnings due to forex valuation loss partially offset by stable operation

【－】 Aluminum transactions：Absence of favorable performance in FY24

【－】 MISI：Delayed recovery in steel material and pipe prices

【＋】 U.S. coking coal project：Restart of operations

＜Note＞impact of price (9.0) [iron ore (4.0), coal (5.0)], forex impact (13.5) [iron ore (13.5)]

FY25 : Major changes from FY24

Investment

EXIT

Core operating cash flows Total assets

FY24

FY25

Inc / Dec

127.3

110.2

(17.1)

128.1

122.6

(5.5)

(0.7)

(12.3)

(11.6)

16.9

5.1

(11.7)

25.7

20.2

(5.5)

3.1

2.7

(0.4)

FY26

Plan

Inc / Dec

120.7

+10.5

(Not Disclosed)

(ー)

(Not Disclosed)

(ー)

(Not Disclosed)

ー

(Not Disclosed)

ー

3.6

+ 0.9

Major Group Companies (Ownership)

ITOCHU Minerals & Energy of Australia (IMEA) (100%)

Iron Ore

Coal

CSN Mineração (CM)*1(18.1%) Marubeni-Itochu Steel (MISI) (50.0%) ITOCHU Metals (100%)

*1 JBMF [JAPÃO BRASIL MINÉRIO DE FERRO PARTICIPAÇÕES LTDA.], which is the investment and management company of CM,

was presented in the above table until FY24 Q2, however, the presentation has been changed due to the conversion of CM into an investment accounted for by the equity method resulting from the additional investment in FY24 Q3.

Results are the gains and losses of CM and JBMF.

ITOCHU’s Ownership (Sales Results)

FY24

FY25

Inc / Dec

26.9

31.1

+ 4.2

23.1

23.5

+ 0.4

3.9

7.6

+ 3.7

FY26

Plan

Inc / Dec

31.4

+ 0.3

23.8

+ 0.3

7.6

+ 0.0

Iron ore (million tons)

IMEA

CM

Energy & Chemicals

FY24

FY25

Inc / Dec

FY25*1

FY26

Plan

Inc / Dec

78.6

69.3

(9.3)

75.5

+ 6.2

35.9

22.2

(13.8)

27.0

29.5

+ 2.5

33.7

42.3＊

+ 8.6

46.0

+ 3.7

8.9

4.8

(4.1)

*1 Due to the establishment of the Energy & Power Solutions Division in FY26 through the integration of the Energy Division and the Power & Environmental Solution Division, the FY25 results are presented post reclassification.

74.6

69.8

(4.8)

29.4

19.7

(9.8)

38.7

43.3＊

+ 4.6

6.4

6.8

+ 0.4

115.3

131.7

+ 16.4

1,652.0

1,819.4

+ 167.4

FY26 Plan

Consolidated net profit 75.5 [+6.2 vs. FY25]

【＋】 Higher volumes and improved profitability in LNG, LPG, and electricity transactions

【＋】 Chemical business：Enhanced profitability at ITOCHU CHEMICAL FRONTIER, ITOCHU PLASTICS, and others

【－】 LNG dividends：Decline in volumes on an equity basis

FY25 : Major changes from FY24

Core profit (4.8) [74.6→69.8]

【－】 Decrease in dividends received from LNG projects

【－】 Japan South Sakha Oil：Lower production volume and forex valuation loss on foreign currency deposits

【－】 CIECO Azer：Lower sales prices

【＋】 C.I. TAKIRON：Increase in transaction of civil engineering and film business, and increased ownership

【＋】 Electricity transactions：Increase in transactions and improvement in profitability

【＋】 ITOCHU PLASTICS：Increase in transactions of packaging goods and electronic materials

Extraordinary gains & losses (4.5) [4.0→(0.5)]

FY25 [Q4] Impairment loss on fixed assets in renewable energy company : (5.0)

[Q4] Impairment loss on fixed assets in C.I. TAKIRON : (1.0) [Q3] Group reorganization of a battery-related company : 3.5

[Q2] Conversion of an overseas energy-related company into a consolidated subsidiary : 2.5

FY24 [Q4] Improvement in tax expenses related to an overseas energy-related company : 5.5 [Q4] Partial sale of TRENDE (electricity service company) : 1.5

[Q4] Impairment loss on North American synthetic resin-related company : (5.5)

(Unit : billion yen)

Consolidated net profit

Energy

Chemicals

Power & Environmental Solution

Core profit

Energy

Chemicals

Power & Environmental Solution

Core operating cash flows Total assets

FY24

FY25

Inc / Dec

5.1

4.2

(0.9)

1.4

1.4

+ 0.0

9.4

9.0

(0.5)

1.7

0.3

(1.4)

9.4

3.3

(6.1)

4.1

6.2

+ 2.1

9.1

9.5

+ 0.5

5.1

5.8

+ 0.7

FY26

Plan

Inc / Dec

(Not Disclosed)

ー

1.6

+ 0.2

ー*4

ー

(Not Disclosed)

ー

1.3

(2.0)

6.7

+ 0.5

10.3

+ 0.8

6.4

+ 0.6

＊Record High

Major Group Companies (Ownership)

CIECO Azer*2(100%)

IPC SPR*3(100%)

ITOCHU ENEX (55.7%)

Japan South Sakha Oil (50.0%)

FY25

Ref FY24

CAPEX in ITOCHU ENEX [¥15.5bn] CAPEX in C.I. TAKIRON [¥10.9bn]

CAPEX in CIECO Azer [¥7.6bn]

  • C.I. TAKIRON (Privatized) [Q2,Q4 ¥37.6bn]

  • CAPEX in ITOCHU ENEX [¥16.3bn]

  • CAPEX in CIECO Azer [¥11.1bn]

  • Overseas energy-related company

(Additional investment) [Q4 ¥5.8bn]

EXIT

Investment

Major Investments and EXIT

Dividends from LNG Projects

C.I. TAKIRON*5(100%)

ITOCHU CHEMICAL FRONTIER (100%)

ITOCHU PLASTICS (100%)

ITOCHU’s Ownership (Sales Results)

FY24

FY25

Inc / Dec

23

28

+ 5

FY26

Plan

Inc / Dec

17

(12)

Oil & Gas (1,000BBL/day) *6

*2 ITOCHU Oil Exploration (Azerbaijan) Inc. *3 ITOCHU PETROLEUM CO., (SINGAPORE) PTE. LTD.

*4 Please refer to annual forecast announced by the company on Apr 30.

*5 ITOCHU’s ownership percentage in FY24 is: Q1 55.7%; Q2 90.7%; Q3-4 100% *6 Natural Gas converted to crude oil is equivalent to 6,000cf =1BBL

Food

FY24

FY25

Inc / Dec

FY25*1

FY26

Plan

Inc / Dec

85.1

92.1

+7.0

106.5

115.5

+ 9.0

33.3

41.8＊

+8.5

44.5

+ 2.7

18.0

16.6

(1.3)

21.0

+ 4.4

33.8

33.6

(0.2)

48.0

50.0

+ 2.0

73.1

84.1＊

+ 11.0

27.3

35.8＊

+ 8.5

15.5

16.6

+ 1.2

30.3

31.6＊

+ 1.3

104.7

113.6

+ 8.8

2,359.8

2,403.4

+ 43.6

FY26 Plan

Consolidated net profit 115.5 [+9.0 vs. FY25]

【＋】 ITOCHU-SHOKUHIN：Increased profit contributions due to conversion into a wholly owned subsidiary

【＋】 Dole：Recovery in production in the fresh produce business and increased sales volume in the packaged foods business

【－】 Absence of extraordinary gains in FY25

【－】 FamilyMart：Slight profit decline due to cost increases from external factors, despite improved profitability from stronger promotions

(Unit : billion yen)

[Q4] Partial sale of an overseas company : 6.5

FY24

[Q4] Tax expenses and impairment loss on a North American industrial chocolate company : (4.5) [Q3] Bargain purchase of a food manufacturing company : 2.5

[Q1] Sale of PROVENCE HUILES : 8.0

FY25

Extraordinary gains & losses (4.0) [12.0→8.0]

Core profit +11.0 [73.1→84.1]

【＋】 Provisions-related transactions/companies：Improvement in profitability

【＋】 Dole：Higher production and sales volume of bananas and increase in transactions of packaged foods business

【＋】 ITOCHU-SHOKUHIN：Expansion of transactions

FY25 : Major changes from FY24

Consolidated net profit

Provisions

Fresh Food

Food Product Marketing & Distribution

Provisions

Fresh Food

Food Product Marketing & Distribution

Core profit

Core operating cash flows Total assets

＊Record High

*1 Starting in FY26, the company with primary responsibility for FamilyMart will be changed to the Food Company, and the related profit and loss will be allocated between Food and The 8th at a ratio of 3:7. FY25 results are presented post reclassification.

Major Group Companies (Ownership)

FY24

FY25

Inc / Dec

FY25*1

FY26

Plan

Inc / Dec

(1.9)

May 12

May 12

May 12

May 12

2.1

May 14

May 14

May 14

May 14

1.8

2.1

+ 0.4

2.3

+ 0.2

(1.4)

2.8

+ 4.2

5.3

+ 2.5

2.2

May 8

May 8

May 8

May 8

3.0

3.9

+ 0.9

(Not Disclosed)

ー

23.8

23.8

(0.1)

25.5

+ 1.7

4.3

4.9

+ 0.6

9.1

+ 4.2

15.9

15.4

(0.4)

52.8

51.5

(1.4)

FUJI OIL (43.8%)

WELLNEO SUGAR (37.0%)

ITOCHU FEED MILLS (100%)

Dole*2(100%)

Major Investments and EXIT

Investment

FY25

CAPEX in Dole [¥19.9bn] CAPEX in Prima*6

Ref FY24

  • CAPEX in Prima [¥12.3bn]

  • CAPEX in Dole [¥11.6bn]

EXIT

PROVENCE HUILES [Q1 ¥17.1bn]

  • FUJI OIL INTERNATIONAL [Q4 ¥13.3bn]

Prima Meat Packers (48.7%)

HYLIFE*3(49.9%)

NIPPON ACCESS (100%)

ITOCHU-SHOKUHIN*4(52.5%)

FamilyMart*5(28.4%)

(Ref.) Total net profit from FamilyMart (94.7%)

*2 Dole International Holdings, Inc. *3 HYLIFE GROUP HOLDINGS LTD.

*4 The tender offer for the shares of the company was completed on April 9, 2026. In addition, as announced by the company on April 28, we plan to make the company our wholly owned subsidiary.

*5 The figures include net profit from POCKET CARD CO.,LTD. (32.2%)

Note: The dates above are the financial announcement date of each company.

*6 Not disclosed since the company will disclose business results on May 8.

31

General Products & Realty

FY24

FY25

Inc / Dec

FY25*1

FY26

Plan

Inc / Dec

69.7

60.8

(8.9)

63.0

+ 2.2

30.2

35.3

+ 5.1

41.1

44.5

+ 3.4

39.5＊

25.6

(14.0)

19.7

18.5

(1.2)

54.7

44.8

(9.9)

25.7

17.8

(7.9)

29.0＊

27.1

(2.0)

84.0

78.1

(5.9)

1,475.0

1,628.7

+ 153.7

FY26 Plan

Consolidated net profit 63.0 [+2.2 vs. FY25]

【＋】 IFL：Halted losses through capital restructuring

【＋】 North American construction-materials business：Strengthen the fence business and reinforce lean management

【＋】 Profit contribution from Nishimatsu Construction, Sun Frontier Fudousan, etc.

【－】 Absence of extraordinary gains in FY25

(Unit : billion yen)

Consolidated net profit

Forest Products, General Merchandise & Logistics

Construction & Real Estate

Core profit

Forest Products, General Merchandise & Logistics

Construction & Real Estate

Core operating cash flows Total assets

.

FY25

CAPEX in DAIKEN [¥12.2bn]

CAPEX in ETEL [¥11.3bn]

Nishimatsu Construction

(Additional investment) [Q1 ¥4.6bn]

Wood Partners*6 [Q3]

Ref FY24

  • WECARS [Q1 ¥18.8bn]

  • Nishimatsu Construction

    (Additional investment) [Q2-3 ¥15.2bn]

  • North American construction-materials business [Q1-3 ¥8.9bn]

Major Investments and EXIT

[Q4] Restructuring of pulp business : 17.5

[Q4] Impairment loss on fixed assets in DAIKEN : (1.5)

[Q3] Impairment loss on fixed assets in IFL : (1.0)

[Q2] Sale of Albany Bulk Handling (port cargo handling company) : 1.0

[Q4] Partial sale of an overseas company : 12.0

[Q2・Q4] Change in ownership form of store assets in ETEL: 3.0 [Q2 : 0.5, Q4 : 2.5] [Q4] Impairment loss on fixed assets in DAIKEN : (1.5)

FY25

FY24

Extraordinary gains & losses +1.0 [15.0→16.0]

Core profit (9.9) [54.7→44.8]

【－】 IFL：Downturn in pulp prices and increase in costs

【－】 DAIKEN：Decline in profitability in domestic business and lower earnings in overseas business

【－】 North American construction-materials business：Underperformance of housing structural materials business

【＋】 ETEL：Favorable performance in the after-sales service business

【＋】 Nishimatsu Construction：Start of equity pick-up

FY25 : Major changes from FY24

Investment

EXIT

＊Record High

*1 Due to changes in the allocation ratios for DAIKEN and ITOCHU KENZAI, the FY25 results are presented post reclassification.

・FY25 Results: All allocated to Construction & Real Estate

FY24

FY25

Inc / Dec

17.9

14.8

(3.1)

7.0

5.6

(1.4)

(1.5)

9.0

+ 10.5

5.6

6.2

+ 0.6

3.0

3.2

+ 0.2

0.6

0.9

+ 0.2

6.6

3.8

(2.7)

3.8

3.7

(0.1)

5.7

5.1

(0.7)

ー

May 12

May 12

ー

—

—

1.7

2.0

+ 0.2

FY26

Plan

Inc / Dec

19.0

+ 4.2

7.2

+ 1.6

(Not Disclosed)

—

6.6

+ 0.4

2.8

(0.4)

1.2

+ 0.3

5.7

+ 1.8

4.0

+ 0.3

5.1

+ 0.1

May 12

May 12

May 11

May 11

2.1

+ 0.2

・FY26 Plan: Forest Products, General Merchandise & Logistics : Construction & Real Estate = 8 : 2

Major Group Companies (Ownership)

North American construction-materials business*2ETEL*3(100%)

IFL*4(100%)

ITOCHU LOGISTICS (100%) ITOCHU PULP & PAPER (100%) ITOCHU CERATECH (100%)

DAIKEN (100%)

ITOCHU KENZAI (100%)

ITOCHU Property Development (100%)

Nishimatsu Construction (21.9%) Sun Frontier Fudousan*5(21.2%) ITOCHU Urban Community (100%)

*2 The figures include net profit through DAIKEN (CIPA Lumber Co. Ltd. 51.0%, Pacific Woodtech Corporation 25.0%, etc.) , with actual results of

¥2.8 billion for FY24 and ¥1.8 billion for FY25. *3 European Tyre Enterprise Limited *4 ITOCHU FIBRE LIMITED

*5 Investment execution and the start of equity pick-up are scheduled to be in FY26 Q1. Note: The dates above are the financial announcement date of each company.

FY2025 Q1

*6 Based on contractual confidentiality obligations, the amount is not disclosed.

ICT & Financial Business

FY24

FY25

Inc / Dec

83.2

93.0

+ 9.8

65.4

72.4＊

+ 7.0

17.8

20.6

+ 2.8

82.2

90.0＊

+ 7.8

65.9

69.9＊

+ 4.0

16.3

20.1＊

+ 3.8

.

99.7

113.3

+ 13.6

1,439.2

1,577.2

+138.0

FY26

Plan

Inc / Dec

97.0

+ 4.0

76.0

+ 3.6

21.0

+ 0.4

FY26 Plan

Consolidated net profit 97.0 [+4.0 vs. FY25]

【＋】 CTC：Further growth through the promotion of the digital value chain strategy

【＋】 HOKEN NO MADOGUCHI GROUP：Strengthening of business foundation through enhancement of

customer experience and services

【－】 Mobile-phone-related business：Lower earnings due to contract changes

(Unit : billion yen)

Consolidated net profit

ICT

Financial & Insurance Business

4 .

FY25

Ref FY24

Investment

CAPEX in CTC [¥10.5bn]

We Sell Cellular [Q1 ¥6.9bn] (Used mobile device distribution business in the U.S.)

Orient Corporation [Q2, Q4 ¥18.1bn]

  • PASCO [Q3-4 ¥8.0bn]

EXIT

  • Orient Corporation (Partial sale) [Q3-4 ¥8.0bn]

Major Investments and EXIT

Extraordinary gains & losses +2.0 [1.0→3.0]

FY25 [Q4] Partial sale of a healthcare-related company : 1.0

[Q3] Bargain purchase of a healthcare-related company : 1.5

FY24 [Q3] Exclusion of Orient Corporation from the equity method : 2.0

Core profit +7.8 [82.2→90.0]

【＋】 CTC：Favorable performance

【＋】 HOKEN NO MADOGUCHI GROUP：Higher agency commissions

【＋】 Increase in remeasurement gains and losses for fund held investments

【＋】 Overseas retail-finance-related companies：Improvement in profitability

【＋】 Gaitame.Com：Increase in FX transaction

【－】 Mobile-phone-related business：Lower earnings due to contract changes

【－】 POCKET CARD：Increase in costs for newly partnered card issuance and in interest expenses

【－】 Orient Corporation：Excluded from the equity method in FY24

FY25 : Major changes from FY24

Core profit

ICT

Financial & Insurance Business

Core operating cash flows Total assets

Major Group Companies (Ownership)

CTC*1(99.95%)

BELLSYSTEM24*2(40.3%)

Mobile-phone-related business ITOCHU Fuji Partners (63.0%)

A2 Healthcare (100%)

HOKEN NO MADOGUCHI GROUP (99.97%)

POCKET CARD*3(78.2%)

Gaitame.Com (40.2%)

First Response Finance (100%)

ITOCHU FINANCE (ASIA) (100%)

GCT MANAGEMENT (THAILAND) (100%)

FY24

FY25

Inc / Dec

50.5

60.6

+ 10.1

2.0

2.3

+ 0.3

10.5

5.5

(5.0)

2.7

3.4

+ 0.7

1.7

1.7

+ 0.1

4.9

6.1

+ 1.3

4.2

2.9

(1.3)

1.5

2.9

+ 1.4

2.4

2.8

+ 0.4

2.5

3.2

+ 0.7

4.3

5.6

+ 1.3

FY26

Plan

Inc / Dec

65.0

+ 4.4

3.4

+ 1.1

1.0

(4.5)

4.6

+ 1.2

2.0

+ 0.3

6.7

+ 0.5

3.1

+ 0.2

(Not Disclosed)

ー

3.5

+ 0.7

3.4

+ 0.2

(Not Disclosed)

ー

＊Record High

*1 ITOCHU Techno-Solutions Corporation *2 BELLSYSTEM24 Holdings, Inc.

*3 The figures include net profit through FamilyMart Co., Ltd. (32.2%)

The 8th

(Unit : billion yen) Consolidated net profit Core profit

Core operating cash flows Total assets

＊Record High

*1 Starting in FY26, the company with primary responsibility for FamilyMart will be changed to the Food Company, and the related profit and loss will be allocated between Food and The 8th at a ratio of 3:7.

FY25

Seven Bank [Q3-4 ¥65.3bn] CAPEX in FamilyMart [¥63.4bn] AND PHARMA [Q3 ¥16.2bn]

Ref

FY24

  • CAPEX in FamilyMart [¥49.0bn]

Major Investments and EXIT

Invest-

ment

EXIT

FY24

FY25

Inc / Dec

FY25*1

FY26

Plan

Inc / Dec

65.1

45.0

(20.1)

30.6

31.5

+ 0.9

34.6

45.5＊

+ 10.9

118.0

118.1

+ 0.0

FY26 Plan

Consolidated net profit 31.5 [+0.9 vs. FY25]

【＋】 Profit contributions from Seven Bank and AND PHARMA

【－】 Increase in interest expenses

FY25 : Major changes from FY24

Core profit +10.9 [34.6→45.5]

【＋】 FamilyMart ：Increase in daily sales resulting from enhancement of product competitiveness and sales promotion, strengthening of business foundations such as the reorganization of store network, and expansion of transactions in the advertising and media business, etc.

【＋】 AND PHARMA, Seven Bank：Start of equity pick-up

Extraordinary gains & losses (31.0) [30.5→(0.5)]

FY25 [Q4] Impairment loss on fixed assets in FamilyMart : (1.5) [Q1] Improvement of tax expenses in FamilyMart : 1.0

FY24 [Q2] Group reorganization of Chinese business in FamilyMart : 29.5

2,014.2

2,197.3

+ 183.1

FY25 results are presented post reclassification.

Major Group Companies (Ownership)

FY24

FY25

Inc / Dec

69.8

52.8

(17.0)

FY25*1

FY26

Plan

Inc / Dec

37.0

36.0

(1.0)

(Not Disclosed)

ー

May 8

May 8

ー

0.9

+ 0.9

ー

May 8

May 8

FamilyMart*2(94.7%/～FY25) FamilyMart*2(66.3%/ FY26～) AND PHARMA (20.0%)

Seven Bank (20.4%)

*2 The figures include net profit from POCKET CARD CO.,LTD. (32.2%)

FY2025 Q1

Note: The dates above are the financial announcement date of each company.

Others, Adjustments & Eliminations

FY24

FY25

Inc / Dec

109.9

197.6＊

+ 87.8

111.9

118.6＊

+ 6.8

42.6

37.5

(5.1)

1,738.8

1,958.1

+219.3

FY26

Plan

Inc / Dec

163.5

(34.1)

FY26 Plan

Consolidated net profit 163.5 [(34.1) vs. FY25]

【－】 Absence of extraordinary gains in FY25 and loss buffers

【＋】 Extraordinary gains from asset replacements, etc.

(Unit : billion yen)

Consolidated net profit Core profit

Core operating cash flows

FY25

Ref FY24

Sale of C.P. Pokphand [Q1 ¥156.8bn] *5

*5 The total amount from the sale of shares (¥156.8 billion) and the dividend is approximately ¥190.0 billion.

Major Investments and EXIT

Investment

EXIT

FY25 : Major changes from FY24 Core profit +6.8 [111.9→118.6]

【＋】 Orchid 〔＋〕 Decrease in interest expenses

〔＋〕 CITIC Limited：Stable performance in comprehensive financial services segment

〔－〕 Appreciation of the yen

【－】 C.P. Pokphand：Excluded from the equity method in FY25

Extraordinary gains & losses +81.0 [(2.0)→79.0]

FY25 [Q4] Provisions for overseas companies, etc. : (11.5)

[Q2] Improvement in tax expenses related to an overseas company, etc. : 2.0 [Q1] Sale of C.P. Pokphand : 88.0

FY24 [Q2-4] Gains/losses related to C.P. Pokphand/CITIC Limited, etc. : (2.0)

Total assets

＊Record High

Major Group Companies (Ownership)

FY24

FY25

Inc / Dec

114.1

116.2

+ 2.1

0.4

1.1

+ 0.7

FY26

Plan

Inc / Dec

116.0

(0.2)

(Not Disclosed)

ー

Orchid*1(100%)

CTEI*2(23.8%)

*1 Orchid Alliance Holdings Limited *2 Chia Tai Enterprises International Limited

*3 C.P. Pokphand Co. Ltd. has been removed from the above table due to the exclusion from the equity method investments.

(Reference) Overseas Trading Subsidiaries *4

FY2025 Q1

FY24

FY25

Inc / Dec

19.2

22.9

+ 3.6

4.8

5.7

+ 0.9

5.6

6.7

+ 1.1

4.7

7.0

+ 2.3

6.9

7.0

+ 0.1

ITOCHU International ITOCHU Europe

ITOCHU (CHINA) HOLDING

ITOCHU Hong Kong ITOCHU Singapore

*4 Net profits of each overseas trading subsidiary included in each segment are presented.

Appendix

Copyright © ITOCHU Corporation. All Rights Reserved.

(Unit : billion yen)

(*) Extraordinary gains and losses are presented in 0.5 billion yen units.

Textile

Machinery

Metals & Minerals

Energy & Chemicals

FY24

Major items

[Q4]

45.5

(4.5)

[Q4] Impairment loss on DOME CORPORATION : (3.0)

[Q4] Higher tax expenses due to Japanese tax reform : (1.5) [Q3] Revaluation gain resulting from the conversion of

DESCENTE into a consolidated subsidiary : 50.0

4.0

—

[Q4] Sale of fixed assets in MULTIQUIP (North American construction-machinery company) : 1.0

[Q4] Higher tax expenses due to Japanese tax reform : (1.0) [Q2] Sale of an Energy-from-Waste project company in IEI : 1.5 [Q2] Partial sale of CONSORCIO INDUSTRIAL PUEBLA

(construction-machinery-related company) : 0.5

[Q1] Partial sale of an Australian infrastructure company : 2.0

—

—

[Q4] Receipt of adjustment payments related to the sale of overseas

company : 1.0

[Q4] Provisions in an overseas company : (1.0)

4.0

3.5

[Q4] Improvement in tax expenses related to an overseas energy-related company : 5.5

[Q4] Partial sale of TRENDE (electricity service company) : 1.5

[Q4] De-consolidation of IPC USA (North American energy-related company) : 1.0

[Q4] Reversal of provisions in Aoyama Energy Service

(heat supply-related company) : 1.0

[Q4] Impairment loss on North American synthetic resin-related company : (5.5)

[Q3] Sale of HELMITIN (North American chemical-related companies) : 0.5

FY25

Major items

[Q4]

2.0

(2.0)

[Q4] Impairment loss on a Chinese apparel company : (1.5)

[Q4] Higher tax expenses due to Korean tax reform in DESCENTE : (0.5) [Q3] Partial sale of SUNRISE (textile manufacturing company) in IPA : 3.5

[Q1] Sale of fixed assets in DESCENTE : 0.5

14.5

(4.0)

[Q4] Partial sale of an overseas company in a leasing-related company : 9.0

[Q4] Reversal of impairment loss on RICARDO PÉREZ (Overseas

automobile business) : 4.5

[Q2-4] Impairment loss in a leasing-related company : (14.0) [Q2 : (1.0), Q3 : (0.5) , Q4 : (12.5)]

[Q4] Losses related to European power generation projects : (2.5)

[Q4] Impairment loss on an infrastructure-related company in IEI : (1.5)

[Q4] Group reorganization of a North American company in Hitachi

Construction Machinery : (1.0)

[Q2-3] Settlement payment in a leasing-related company : 14.0 [Q2 : 13.0, Q3 : 1.0]

[Q2] Improvement in tax expenses due to the amendment to the Japan-Ukraine tax convention : 0.5

[Q1] Sale of JAMCO : 5.5

(2.5)

(2.5)

[Q4] Group reorganization of Fitzroy (Australian coking coal project) in IMEA : (5.0)

[Q4] Impairment loss on an overseas company in MISI : (4.0) [Q4] Impairment loss on a metal raw material company

in ITOCHU Metals : (1.0)

[Q4] Group reorganization of an overseas company : 7.5

(0.5)

(6.5)

[Q4] Impairment loss on fixed assets

in a renewable energy company : (5.0)

[Q4] Impairment loss on fixed assets in C.I. TAKIRON : (1.0) [Q4] Provisions in residential battery trading : (0.5)

[Q3] Group reorganization of a battery-related company : 3.5 [Q2] Conversion of an overseas energy-related company

into a consolidated subsidiary : 2.5

(Unit : billion yen)

(*) Extraordinary gains and losses are presented in 0.5 billion yen units.

Food

General Products &

Realty

ICT & Financial Business

The 8th

Others, Adjustments & Eliminations

Total

FY24

Major items

[Q4]

12.0

8.5

[Q4] Partial sale of an overseas company : 6.5

[Q4] Sale of FUJI OIL INTERNATIONAL (North American oils and fats company) : 1.0

[Q4] Improvement in tax expenses related to NATURALLE AGRO

MERCANTIL (South American grain-related company) : 0.5 [Q4] Sale of assets in Dole : 0.5

[Q3] Sale of fixed assets in ITOCHU Food Sales and Marketing : 1.0 [Q3] Impairment loss on a Chinese company in HYLIFE : (1.0)

[Q2] Partial sale of Confex Holdings (food-distribution-related company) : 1.5 [Q2] Sale of JAPAN FOODS : 1.0

[Q1] Sale of companies n a vegetable oil production and sale company : 1.0

15.0

13.0

[Q4] Partial sale of an overseas company : 12.0

[Q2・Q4] Change in ownership form of store assets in ETEL : 3.0 [Q2 : (0.5), Q4 : (2.5)]

[Q4] Impairment loss on fixed assets in DAIKEN : (1.5) [Q1] Reversal for allowance in ETEL : 1.0

[Q1] Sale of an overseas sawn timber business in IFL : 0.5

1.0

(1.0)

[Q4] Partial sale of a domestic business and impairment loss in BELLSYSTEM24：1.0

[Q4] Impairment loss in ITOCHU Techno-Solutions : (1.0) [Q4] Provisions for aesthetic medicine-related franchisees in

POCKET CARD : (0.5)

[Q4] Higher tax expenses due to Japanese tax reform : (0.5) [Q3] Exclusion of Orient Corporation from the equity method

investments : 2.0

30.5

1.0

[Q4] De-consolidation of Retail Investment Company : 3.0

[Q4] Group reorganization of domestic business in FamilyMart : 1.0 [Q4] Provisions for aesthetic medicine-related franchisees in

POCKET CARD : (0.5)

[Q4] Higher tax expenses due to Japanese tax reform : (2.5)

[Q2] Group reorganization of Chinese business in FamilyMart : 29.5

(2.0)

(5.5)

[Q2-4] Gains/losses related to C.P. Pokphand/CITIC Limited, etc. : (2.0)

110.0

15.0

[FY24 Results] Non-Resource : 107.0, Resource : 6.5, Others : (3.5)

FY25

Major items

[Q4]

8.0

(2.5)

[Q4] Group reorganization of a food-distribution-related company : 2.0 [Q4] Tax expenses and impairment loss on a North American industrial

chocolate company : (4.5)

[Q3] Bargain purchase of a food manufacturing company : 2.5 [Q1] Sale of PROVENCE HUILES : 8.0

16.0

16.0

[Q4] Group reorganization of pulp business : 17.5 [Q4] Impairment loss on fixed assets in DAIKEN : (1.5) [Q3] Impairment loss on fixed assets in IFL : (1.0)

[Q2] Sale of Albany Bulk Handling (port cargo handling company) : 1.0

3.0

1.0

[Q4] Partial sale of a healthcare-related company : 1.0

[Q3] Bargain purchase of a healthcare-related company : 1.5 [Q2] Sale of commercial rights in a finance-related company : 0.5

(0.5)

(1.5)

[Q4] Impairment loss on fixed assets in FamilyMart : (1.5) [Q1] Improvement of tax expenses in FamilyMart : 1.0

79.0

(11.0)

[Q4] Change in ownership of a group company in CITIC Limited : 0.5 [Q4] Provisions for overseas companies, etc. : (11.5)

[Q2] Improvement in tax expenses related to an overseas company, etc. : 2.0 [Q1] Sale of C.P. Pokphand : 88.0

119.0

(13.0)

[FY25 Results] Non-Resource : 123.0, Resource : 5.5 , Others : (9.5)

FY24

FY25

Increase/

Decrease

Summary of changes

14,724.2

14,823.1

+ 98.9

【＋】 ICT & Financial Business, Food, and Textile

【－】 Energy & Chemicals, Metals & Minerals

2,376.5

2,480.5

+ 104.1

【＋】 Textile, ICT & Financial Business, The 8th, and Food

【－】 Metals & Minerals

(1,678.4)

(1,763.2)

(84.8)

【－】 Conversion into a consolidated subsidiary of DESCENTE in FY24 Q3

【－】 Increase in personnel expenses

(14.2)

(15.5)

(1.3)

【－】 Increase in provision for doubtful accounts in general receivables

683.9

701.9

+ 18.0

【＋】 The 8th, ICT & Financial Business, Food, Energy & Chemicals, and Textile

【－】 Metals & Minerals, General Products & Realty

83.2

175.2

+ 92.0

【＋】 Sale of C.P. Pokphand

【＋】 Restructuring of pulp business

【－】 Absence of the revaluation gain resulting from the conversion of DESCENTE into a consolidated subsidiary

in FY24 Q3

【－】 Absence of the gain on the partial sale of an overseas company in the previous fiscal year

(14.8)

(12.8)

+ 2.0

【＋】 Absence of the impairment loss on a North American synthetic resin-related company in the previous fiscal year

28.5

8.8

(19.7)

【－】 Decrease in foreign exchange gains and losses

(53.5)

(56.9)

(3.4)

【－】 Deterioration in net interest expenses due to higher yen interest rate

78.4

59.8

(18.6)

【－】 Decrease in dividends received from investees

349.3

323.5

(25.8)

【－】 The 8th

【＋】 Machinery

1,155.1

1,199.5

+ 44.4

(222.0)

(262.0)

(40.0)

【－】 Increase of profit before tax

933.0

937.5

+ 4.4

880.3

900.3

+ 20.0

(Unit : billion yen)

Revenues

Gross trading profit

Selling, general and administrative expenses

Provision for doubtful accounts

Trading income

Gains (losses) on investments

Gains (losses) on property, plant, equipment and intangible assets

Other-net

Net interest expenses

Dividends received

Equity in earnings of associates and joint ventures

Profit before tax

Income tax expense

Net Profit

ITOCHU

attributable to ITOCHU

739.7

1,301.9

+ 562.2

【＋】 Increase in translation adjustments

Net profit attributable to Total comprehensive income

(Unit : billion yen)

(Unit : billion yen)

Mar. 31, 2025

Mar. 31, 2026

Inc / Dec

15,134.3

16,732.8＊

+ 1,598.6

3,550.8

3,672.7

+ 121.9

2,961.3

3,024.3

+ 63.0

5,755.1

6,590.0＊

+ 834.9

38.0%

39.4%＊

Increased 1.4pt

0.51

0.46＊

Improved 0.06pt

Total assets

Interest-bearing debt Net interest-bearing debt

Total shareholders' equity

Ratio of shareholders'

equity to total assets

NET DER (times)

15.7%

14.6%

Decreased 1.2pt

5.9%

5.7%

Decreased 0.3pt

ROE ROA

  • Balance Sheet（Mar. 31, 2026）

Trading-related 4.9

Others 1.4

Investment-related 6.7

Property, plant and

equipment, etc.

2.5

Others 1.3

Total assets: 16.7

Current assets 6.3

Non-current assets 10.5

Consolidated total

Total assets

ROA

(Net profit attributable to

ITOCHU)

ROA

(Core profit)

Mar. 31, 2025

Mar. 31, 2026

FY25

FY25

15,134.3

16,732.8

5.7%

4.9%

Textile

782.1

751.9

5.6%

5.4%

Machinery

2,166.6

2,603.5

6.5%

5.9%

Plant Project, Marine & Aerospace

1,008.7

1,143.9

5.9%

5.4%

Automobile, Construction Machinery &

Industrial Machinery

1,157.9

1,459.5

7.0%

6.3%

Metals & Minerals

1,506.4

1,793.4

8.7%

8.9%

Energy & Chemicals

1,652.0

1,819.4

4.0%

4.0%

Energy

847.6

985.6

2.4%

2.1%

Chemicals

648.8

686.9

6.3%

6.5%

Power & Environmental Solution

155.7

146.9

3.2%

4.5%

Food

2,359.8

2,403.4

3.9%

3.5%

Provisions

648.1

624.2

6.6%

5.6%

Fresh Food

751.7

775.6

2.2%

2.2%

Food Products Marketing & Distribution

960.0

1,003.7

3.4%

3.2%

General Products & Realty

1,475.0

1,628.7

3.9%

2.9%

Forest Products,

General Merchandise & Logistics

852.4

890.5

4.0%

2.0%

Construction & Real Estate

622.6

738.2

3.8%

4.0%

ICT & Financial Business

1,439.2

1,577.2

6.2%

6.0%

ICT

836.5

938.6

8.2%

7.9%

Financial & Insurance Business

602.8

638.6

3.3%

3.2%

The 8th

2,014.2

2,197.3

2.1%

2.2%

Others, Adjustments & Eliminations

1,738.8

1,958.1

10.7%

6.4%

＊Record High (NET DER: Best Record)

Current liabilities 4.8

Non-current liabilities

4.8

Shareholders’

equity 6.6

(Unit : trillion yen)

Interest-bearing

debt 3.7

Non-controlling interests

0.6

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