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ITOCHU, First Half Net Income Increases by 14%, Dividend Effectively Increased

Wed Nov 5, 2025 1:00 pm JST Earnings

8001 ITOCHU Corporation 【IFRS】

Earnings Report

ITOCHU Corporation <8001> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on November 5th (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 14.1% from the same period last year, reaching 500 billion yen. Progress toward the full-year plan of 900 billion yen was 55.6%, almost the same as the five-year average of 57.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease 9.5% from the same period last year to 399 billion yen.

At the same time, due to a planned 5-for-1 forward stock split is scheduled for December 31, the annual dividend for the current fiscal year has been revised from the original plan of 200 yen to 122 yen (equivalent to 210 yen before the forward stock split) This effectively represents a 5.0% increase in the annual dividend.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 216 billion yen, a 6.7% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 4.8% in the same period last year to 5.0%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 6,774,098 350,922 571,824 412,899 283.9 52.2 Nov 6, 2023 IFRS
Apr - Sep, 2024 7,291,307 366,744 602,266 438,442 305.0 52.1 Nov 6, 2024 IFRS
Apr - Sep, 2025 7,249,159 354,140 661,959 500,280 354.2 ー Nov 5, 2025 IFRS
YoY -0.6% -3.4% +9.9% +14.1% +16.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 100 May 2, 2025 IFRS
Apr - Sep, 2025 Results 7,249,159 354,140 661,959 500,280 354.2 100 Nov 5, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev ー ー ー 900,000 642.4 200 May 2, 2025 IFRS
Mar, 2026 New ー ー ー 900,000 642.4 210 Nov 5, 2025 IFRS
Revision Rate － － － 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 7,432,927 317,171 552,793 441,809 309.0 100 May 2, 2025 IFRS
Oct - Mar, 2025 Guidance ー ー ー 399,720 285.3 110 Nov 5, 2025 IFRS
YoY － － － -9.5% -7.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 14,029,910 702,900 1,095,707 801,770 553.0 160 May 8, 2024 IFRS
Mar, 2025 14,724,234 683,915 1,155,059 880,251 615.7 200 May 2, 2025 IFRS
Mar, 2026 Guidance ー ー ー 900,000 642.4 210 Nov 5, 2025 IFRS
YoY － － － +2.2% +4.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 3,692,389 176,205 316,172 231,841 161.3 4.8 Nov 6, 2024 IFRS
Oct - Dec, 2024 3,748,140 171,011 296,959 238,034 166.0 4.6 Feb 6, 2025 IFRS
Jan - Mar, 2025 3,684,787 146,160 255,834 203,775 142.5 4.0 May 2, 2025 IFRS
Apr - Jun, 2025 3,558,933 170,735 374,814 283,939 200.5 4.8 Aug 1, 2025 IFRS
Jul - Sep, 2025 3,690,226 183,405 287,145 216,341 153.2 5.0 Nov 5, 2025 IFRS
YoY -0.1% +4.1% -9.2% -6.7% -5.0%

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