Message from the Chairman & CEO

On May 1, we announced our results for the fiscal year ended March 31, 2026 (FY2025) and our Management Plan for FY2026.

As for the operating results of FY2025, we achieved record high consolidated net profit of ¥900.3 billion. Despite a persistently uncertain business environment, characterized by ongoing inflation and rising geopolitical risks, the investments we have made to date steadily bore fruit, and profit expanded among Group companies in the non-resource sector. This was also a year in which we were able to lay a solid foundation for the next stage of growth by, for example, achieving turnarounds in some businesses and steadily carrying out new investments with an eye toward driving future growth.

However, the market environment is changing significantly against the backdrop of rising resource prices as conditions in the Middle East have grown more serious since February 2026. Amid this situation, expectations appear high for other general trading companies, which still conduct a large proportion of business in the resource sector, to increase future profit and greatly expand their market capitalization. The unfolding situation created anxiety for the entire ITOCHU management team. The Company takes this situation seriously. We have renewed our fierce commitment to further strengthening specific initiatives aimed at enhancing ITOCHU’s corporate value.

Our management plan for FY2026 assumes the continuation of the uncertain external environment. Undaunted, we have positioned the current fiscal year as one in which we will strive to climb to a higher profit stage and achieve another all-time record high, with consolidated net profit reaching ¥950 billion. The Headquarters Management Committee once again carefully analyzed and discussed the current status of the main measures to enhance share price laid out in the Management Policy: “Grow earnings” and “No growth without investments.” In line with the latter concept, we will continue to steadily conduct growth investments up to ¥1.5 trillion and steadfastly implement the “earn, cut, prevent” principles to further solidify our foundation for our next burst of growth.

With its roots in the spirit of the merchants of Ohmi, ITOCHU has worked to build businesses always attuned to the needs of customers and society in line with a “market-oriented” perspective. We are actively raising the corporate brand value of the ITOCHU Group by accurately identifying changes in the business environment to dynamically promote business transformation and continuously meet the demands of customers and society.

Finally, turning toward shareholder returns, in FY2026, we plan to increase dividends per share to ¥44, maintain our progressive dividend policy, and continue to actively execute share buybacks. We will further enhance corporate value by both accelerating growth investments and expanding shareholder returns.

Looking to achieve the major milestone of ¥1 trillion in consolidated net profit in FY2027, we are moving unyieldingly toward achieving ¥950 billion in FY2026. You can expect ITOCHU to grow and make great strides going forward.

We look forward to your support and guidance as we continue our progress together.

Masahiro Okafuji
Chairman & CEO
May 1, 2026