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

Q1 2022 Itochu Corp Earnings Net Conference Transcript

Aug 04, 2021 / NTS GMT

Release Date Price: $29.74

Transcript

Tsuyoshi Hachimura

ITOCHU Corporation - CFO, Executive VP & Director

This is Tsuyoshi Hachimura. Thank you very much for your time. Now I'd like to present the first quarter business results of ITOCHU Corporation. I have been the CFO for a long time, and this is the best Q1 results.

And also as a quarter, this is the best results that we achieved. This is the highest ever numbers that we achieved. In all segments, the profits grew. I think we can call it unstoppable momentum. The results were very strong.

Net profit attributable to ITOCHU was JPY 267.5 billion. This includes JPY 87.5 billion extraordinary gains and losses. Excluding that, core profit was JPY 180 billion, which is a record high number. JPY 267.5 billion is a little less than 2.6x higher than the year before.

So the increase is 155%. The record high in the past was fiscal '21 in Q2, which was JPY 147.7 billion. And this time, it is 1.8x higher. As for the core profit, you might say that there was extraordinary gain, which was high. But actually, it is JPY 180 billion core profit. It's 2x higher than the year

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