Annual Report 2023 (Digital Edition)

CEO Message

In this era of uncertainty, we need to remain keenly aware of our business fundamentals. As we secure a firm foundation for our business, we will steadily lay the steppingstones for our rise to the next profit stage.

Masahiro Okafuji
Chairman & Chief Executive Officer

COO Message

We will continue to build a solid foundation for sustainable growth by assessing the drastic changes in the business environment at the front lines, and by breaking down the “Three Walls” to enhance our comprehensive strength.

Keita Ishii
President & Chief Operating Officer

A Value Creation Model Centered on “Sampo-yoshi”

Driving Force fot Sustainable Value Creation

ITOCHU’s Accumulated Non-Financial Capital
Examples of Combinations of Non-Financial Capital in ITOCHU’s Businesses
Historical Background and Reasons for the Establishment of Our Strengths
Special Feature 1: Highly Unique Human Resource Strategy to Enhance Corporate Value

“RONGO (Ethics) and SOROBAN (Economy)” and “Sampo-yoshi”

Mr. Ken Shibusawa and CAO Kobayashi talked about visualizing the “non-visible value” of companies and the way sustainability runs through the past, present, and future.

CEO, Shibusawa and Company, Inc.Ken Shibusawa

Member of the Board, Executive Vice President, CAOFumihiko Kobayashi

Human Resource Strategy to Enhance Corporate Value

Trajectory of Steady Corporate Value Enhancement through the Strategies of “Brand-new Deal” Management Plans
FYE 2023 Business Results: Achievement of Consolidated Net Profit Exceeding ¥800.0 Billion for the Second Consecutive Year
FYE 2024 Management Plan, Which Covers the Final Fiscal Year of the Medium-Term Management Plan “Brand-new Deal 2023,” and Our Strategies to Achieve the Plan While Dealing with Business Risks and Other Risks

We view changes in the business environment as opportunities to utilize our strategy of both “offense” and “defense” to maximize expected value of our stakeholders.

Member of the Board, Executive Officer, CSO;
General Manager, Group CEO Office
Hiroyuki Naka

Steppingstones to Medium- to Long-Term Value Creation

Financial and Capital Strategies
Business Investment Process and Monitoring after Execution
Overview of Our Business Model and Business Development
Special Feature 2: Examples of Initiatives That Create Added Value by Polishing Our Existing Business and New Steppingstones

We will continue to enhance “high-quality management,” maintaining financial and capital strategies that optimally combine “offense,” “defense,” and “preparations,” without letting our guard down against rapid changes in the business environment.

Member of the Board, Executive Vice President, CFOTsuyoshi Hachimura

Initiatives and Systems Supporting Sustainable Growth

PEST Analysis on Macroenvironmental Factors
Approach and Initiatives Relating to Climate Change
(1.5°C scenario analysis based on TCFD recommendations, etc.)
Sustainability Management Initiatives including Human Rights Due Diligence
Corporate Governance Policies and Systems That Underpin Value Creation

In the context of strengths, risks, opportunities, and other factors in each business field, this section outlines the strategies of the Division Companies that comprise ITOCHU’s business portfolio. The explanation is given with an awareness of the corporate value calculation formula (with a view to investment decisions) and the bearing these strategies have on material issues.