ITOCHU Announces Annual Report 2021 Selected as “Outstanding Integrated Report” by GPIF’s Domestic Equity Managers for Five Consecutive Years

February 8, 2022

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that its Annual Report 2021 has been selected as “Outstanding Integrated Report” for five consecutive years by asset managers that are entrusted with the domestic equities of the Government Pension Investment Fund (GPIF).

The following are the main comments from the asset managers who highly evaluated ITOCHU’s report.

  • The report has raised the level of satisfaction by presenting a different view of the value creation story from a unique angle. It is also highly evaluated for its easy-to-understand design that assumes a wide range of stakeholders as readers.
  • It should be noted that “corporate value” is formulated and clarified in the report. In addition to the strong message from the top management and commitment-based management, the report also refers to the governance of listed subsidiaries. It is an exemplary integrated report.
  • Various issues such as business strategy, cash allocation, and sustainability are discussed in connection with the corporate value calculation formula. It is highly evaluated that the contents are story-oriented and consistent throughout the report, and that it has been elevated to a high level as an integrated report. Information has been rearranged based on the corporate value calculation formula. The corporate mission "Sampo-yoshi" has been developed into management from the viewpoint of stakeholders. Extensive and complex operations are described concisely and comprehensively. The fact that the Chairman & CEO himself wrote the manuscript and the practical use, including distribution of the report to the management of the group companies is also highly appreciated.
  • The long-term vision, value creation process, business model, materiality, etc. are story-driven, and the relationship of strengths and invested capital is clearly illustrated. The report is structured with a focus on improving corporate value and is well organized to be used as a tool to engage with investors.

In addition, ITOCHU has received the highest Gold Award at WICI Japan Integrated Report Award 2021 held by WICI Japan which consists of business companies, financial analysts, investors, as well as public offices and researchers from academia.

ITOCHU will continue to further improve its annual reports and provide its investors and other stakeholders with useful financial and non-financial information.

■ ITOCHU Annual Report 2021 (fiscal year ended March 2021)