Machinery and energy lead
ITOCHU Corporation (TSE: 8001) reported consolidated results for the first half of FY3/2027, April 1 to September 30, 2026, on November 4, 2026 under IFRS. Gross profit rose ¥107.0 billion to ¥1,316,650 million, led by ICT & Financial Business, Metals & Minerals and Energy & Chemicals, while a weaker yen and personnel costs lifted selling, general and administrative expenses. Equity-method earnings rose by ¥70.3 billion, with gains in every segment except ICT & Financial Business. Gains on securities fell to about ¥44 billion from ¥136 billion, as the prior half included the sales of C.P. Pokphand and Provence Huiles, partly offset by the sale of CIECO Azer and related businesses.
By segment, attributable profit in Machinery rose 60.8% to ¥123,694 million, Energy & Chemicals more than doubled to ¥90,392 million, Metals & Minerals rose 45.0% to ¥92,172 million and ICT & Financial Business 21.0% to ¥48,428 million, while Food was flat at ¥64,727 million. Textile rose 35.1% to ¥32,681 million and General Products & Realty 52.6% to ¥29,070 million. Others, adjustments and eliminations fell to ¥74,760 million from ¥152,523 million.
Target and dividend unchanged
Basic earnings per share rose to ¥83.06, adjusted for the 5-for-1 split of January 1, 2026, helped by the repurchase of 93,718,850 shares during the half. ITOCHU kept its FY3/2027 forecast for net profit attributable to ITOCHU shareholders at ¥950,000 million (+5.5%) and its annual dividend at ¥44 (¥22 interim, ¥22 year-end), against a split-adjusted ¥42 for FY3/2026. Total assets rose to ¥17,230,923 million and the shareholders' equity ratio was 39.5%. Operating cash flow fell to ¥293,175 million from ¥609,245 million.
| Metric | H1 FY3/2027 | H1 FY3/2026 | Change |
|---|---|---|---|
| Revenue (¥ million) | 7,929,747 | 7,249,159 | +9.4% |
| Operating profit (¥ million) | 413,188 | 354,140 | +16.7% |
| Pre-tax profit (¥ million) | 703,469 | 661,959 | +6.3% |
| Equity in earnings of associates (¥ million) | 230,502 | 160,239 | +43.8% |
| Net profit attrib. to owners of parent (¥ million) | 580,472 | 500,280 | +16.0% |
| Comprehensive income (¥ million) | 579,440 | 558,136 | +3.8% |
| EPS (¥) | 83.06 | 70.84 | +17.3% |
| Machinery — segment profit (¥ million) | 123,694 | 76,915 | +60.8% |
| Metals & Minerals — segment profit (¥ million) | 92,172 | 63,548 | +45.0% |
| Energy & Chemicals — segment profit (¥ million) | 90,392 | 37,685 | +139.9% |
| Food — segment profit (¥ million) | 64,727 | 64,409 | +0.5% |
| ICT & Financial Business — segment profit (¥ million) | 48,428 | 40,020 | +21.0% |
| Total assets (¥ million) | 17,230,923 | 16,732,815 | +3.0% |
| Equity attrib. to owners of parent (¥ million) | 6,806,931 | 6,589,966 | +3.3% |
| Equity ratio | 39.5% | 39.4% | +0.1 pt |
| FY3/2027 guidance — net profit (¥ million) | 950,000 | — | +5.5% |
| Annual dividend per share (¥) | 44.00 | 42.00 | +4.8% |
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