ITOCHU Corp (OTCPK:ITOCF)

$ 49.75 -0.75 (-1.49%) Market Cap: 72.45 Bil Enterprise Value: 96.74 Bil PE Ratio: 12.85 PB Ratio: 1.81 GF Score: 85/100

Q3 2020 Itochu Corp Earnings Net Conference Transcript

Feb 05, 2020 / NTS GMT

Release Date Price: $23.88

Transcript

Tsuyoshi Hachimura

ITOCHU Corporation - CFO, Senior Managing Executive Officer & Director

[Interpreted] This is so Tsuyoshi Hachimura, CFO of ITOCHU Corporation. Thank you very much for joining us today. Please refer to the PowerPoint presentation material. Starting with Page 3. This is the summary of financial results.

Net profit attributable to ITOCHU was again a record high JPY 426.7 billion. Non-resource sector accounts for 80% of our business, which was very strong. And we renewed the highest record, 5 years in a row. This number was 7% higher than the year before, and the progress was 85% vis-Ã -vis the 2020 forecast.

The iron ore prices were high and pulp prices were low. Of course, there was a major contribution from the resource sector, but our strength is non-resource sector, whose profit reached JPY 335.3 billion, which is the highest record, 10 years in a row.

Also, we have a widely diversified businesses. And we have 288 companies consolidated, 87.5% of them are profitable. And we have been making the improvement 5 years in a row. And 4 companies are above JPY 10

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