Exhibit A

May 7, 2010
ITOCHU Corporation

Highlights of Consolidated Financial Results for FY 2010 (U.S. GAAP)

Financial topics for FY 2010

(Unit: billion yen, (losses, decrease))
・ FY 2010 "Net income attributable to ITOCHU" decreased by \37.2bil. to \128.2bil. compared with FY 2009 due to price falls in mineral resources, oil & gas on annual averagebasis. This figure includes impairment loss of \9.4bil. on investments in a restaurant chain and a finance-related associated companies.
・ Net income attributable to ITOCHU by segment, "Food" increased to \27.8bil. (the highest profit of the segment) mainly due to a new investment, while "Ener. Met. & Min"
recorded \65.7bil. in spite of price falls in mineral resources, oil & gas. The income in "Textile" and in "Chem., FP & GM" were \22.4bil. and \19.3bil., both segments recorded
the same level as FY 2009. The income in "Mach." increased by \19.1bil. to \3.7bil. due to absence of temporary loss recognized in FY 2009, the income of "ICT & Aero., &Elec." was \6.0bil. and "Fin. Rlty, Insur. & LS" recorded loss of \4.2bil. due to impairment loss on a finance-related investment. Occupancies of "Net income attributable toITOCHU" by sector: Natural Resource/Energy-Related, 51%(\65.7bil.), Consumer-Related, 43%(\54.9bil.), and Others, 6%(\7.6bil.)・ ITOCHU stockholders' equity increased by \249.0bil. to \1,098.4bil., achieved over \1.0tril. for the first time at fiscal year end. NET DER improved by 0.5points to 1.6times.

Components of Net Income
attributable to ITOCHUFY 2010

FY 2010

FY 2009

Increase (Decrease)%

Outlook for FY2011
Increase

Summary of changes from the previous fiscal year

(Decrease)

3,416.6
924.4

3,419.1
1,060.5(2.4)(136.2)(0.1%)(12.8%)

Provision for doubtful receivables(769.9)(7.0)(768.1)(16.7)

(1.8)
9.7

0.2%
(57.9%)Net interest expense(25.3)(29.5)

4.1(14.0%)

Dividends received

28.9
3.6
(Note 1)
(4.5)

35.0
5.6
(23.1)

(6.1)
(2.0)
18.6

(17.5%)-(8.5)(45.4)

36.9

-

14.0

-

14.0-

3.0

(4.5)

7.5

-

Total other expenses(769.4)(852.3)

82.9(9.7%)

Income before income taxes and equity

155.0

208.3

(53.3)(25.6%)(51.6)
103.4(72.8)
135.5

21.2(32.1)(29.1%)(23.7%)

36.3
139.7

41.3
176.8

(12.2%)(21.0%)(11.5)
128.2(11.4)
165.4(5.0)(37.1)(0.1)(37.2)

Revenue
Gross trading profit
Selling, general andadministrative expenses

Net financial income

Loss on investments-net
Loss on property andequipment-net
Gain on bargain purchasein acquisition(*)(Note 1)Other-net

in earnings of associated companiesIncome taxes
Income before equity in earnings
of associated companies abc
Equity in earnings of associatedcompaniesbc

Net income
Less: Net income attributable tothe noncontrolling interest

Net income attributable to ITOCHU

1.0%(22.5%)（Reference）
Total trading transactions
Gross trading profit ratio

10,306.8
9.0%

12,065.1
8.8%(1,758.3)
0.2%(14.6%)

Parent company
Group companies
Overseas trading subsidiaries

Consolidation adjustments

food materials, reduced transactions in automobiles and construction machinery, andslowdown in housing market in Japan and the U.S. despite increase due to the several
acquisitions including ITOCHU ENEX CO., LTD.
Please refer to "Operating・ Gross trading profit: (Incr/Decr fields & business)

Segment Information".

Textile/Almost the same level: The acquisitions of SANKEI CO., LTD. and JAVAHOLDINGS CO., LTD., market slowdown in textile materials, fabrics and apparels

200339.3

333.7
251.2

240.8
175.9

217.3

165.4

144.2

128.2

1000

FY 2006

FY 2007

FY 2008

FY 2009

FY 2010Gross trading profit (Note 4)

FY 2010

FY 2009

Increase(Decrease)

Energy, Metals & Minerals/Decr: Price falls on annual average in metal resources,
oil & gas(45.1)
2.0(Note 6) In this 1st quarter, the criteria to count group companies was changed so that thenumber of companies directly invested by ITOCHU or its overseas trading
subsidiaries are shown above.

(25.0)

0.3

Share of group co. reporting profits

20.0
(5.0)

(8.9)
(8.6)

Number of group co. reporting profits(*)(45.0)

Finance, Realty, Insurance & Logistics Services/Decr: Decrease due to finance-related
business and impairment loss of inventory in real-estate for sale・ SG&A: Increase due to acquisition of subsidiaries, increase in pension cost despite
decrease in existing subsidiaries

・ Provision for doubtful receivables: Absence of the provision for doubtfulreceivables from Machinery-related customers in Mongolian in the previous fiscal
year +10.8, increase due to allowance for other doubtful receivables -1.1

・ Net financial income: Improvement of net interest expense due to decline in
U.S. dollars interest rate, dividends received from LNG-related investments -8.9,
dividends received from an oil and gas-related investment +5.5(C)

6.9

26.1

Decrease due to oil price falls on
annual average

TING HSIN (CAYMAN ISLANDS)(E)
HOLDING CORP.

8.7-Equity pick-up started since this 1Q
and some profit from food production
business and gain on sale of securities
were recognized.

Brazil Japan Iron Ore Corporation

4.0

0.0

Equity pick-up started since thisfirst quarter. Steady growth after
this first quarter.

(4.3)

(1.5)

Impairment loss on investments inaddition to poor performance in mainand subsidiaries' business(2.2)(22.4)

Impairment loss on oil/gas assets from low
oil and gas prices despite significant
improvement due to the absence of theloss from Entrada Oil/Natural Gas Field
Development Project in the prev. FY

(E)

65.0
175.0

28.7
35.3

(15.0)
160.0

(3.5)
31.8

11,500.0 1,193.2( 9.4%)
130.7(C)(Note 7) Income tax effect on the impairment loss is included.

P/L of Group Companies Reporting Profits / Losses
220.6

182.3
148.7 128.9

184.0 218.9

166.2
160.1

124.5

126.3

(Overseas trading subsidiaries)
Group co. reporting profits

325.0(41.5)
20.2(21.3)(E)(Note 7)CIECO Energy (US) Limited

Total of Group companies

9.7(1.8)
7.9Group co. reporting losses
Total of Overseas trading subsidiaries

20.8(0.5)
20.3(11.1)(1.3)(12.5)(19.8)FY 2006(57.9)(36.6)FY 2007

FY 2008(58.8)FY 2009: Group companies
reporting profits: Group companies
reporting losses: Net P/L

(40.0)FY 2010

Co., Ltd. and ITOCHU LOGISTICS CORP. and Leilian Co., LTD.

・ Other-net: Absence of the loss from Entrada Oil/Natural Gas Field Development
Project +7.1, foreign currency exchange gains and losses +3.4, others -2.9・ Equity in earnings of assoc. co.: TING HSIN (CAYMAN ISLANDS)

Dividend Information(Per Share)

FY 2010 FY 2011
Annual Annual(Planned)(Planned)

15.0 yen 18.0 yen
InterimInterim(Paid)(Planned)

7.5 yen

9.0 yen

FY 2009

Increase(Decrease)[Net income attributable to ITOCHU]
Summary of changes from the previous fiscal year
(Note 4) Refer to "Summary of changes from the previous fiscal year"
in "Consolidated Financial Results of Operations"

Decrease in gross trading profit except the acquisitions of SANKEI CO., LTD. and JAVAHOLDINGS CO., LTD. and absence of gain on sales of investments in the prev. FY despite
gain on bargain purchase in acquisition of Leilian Co., LTD as well as addition of a new assoc. co.

(28.6)

3.7(15.5)

19.1

ICT, Aerospace & Electronics

136.4

138.9

(2.4)

6.0

8.0

(2.0)

Energy, Metals & Minerals

141.6

222.3

(80.7)

65.7

114.7

(49.0)

Chemicals, Forest Products& General Merchandise

110.1

114.3

(4.2)

19.3

19.0

0.2
7.6
(3.0)

Due to increased impairment loss on investments in finance assoc. co. as a result of the revaluationof their fair values and less equity in earnings from them and the absence of profit from transferof the business despite net gain on acquisition of ITOCHU LOGISTICS CORP.

(9.7)

Decrease in gross trading profit and equity in earnings of associated companies despite
decreased local tax burden

335.5

335.6

(0.1)

27.8

20.2

35.6

42.0

(6.4)

(4.2)

(1.2)

128.2

ITOCHU Oil Exploration(Azerbaijan) Inc.

Yoshinoya Holdings Co., Ltd.

198.1
(58.3)
139.7(C): Consolidated subsidiary, (E): Equity-method associated company

Decrease due to price falls inmineral resources on annualaverage(Major Group Companies Reporting Losses)

156.6(38.2)
118.4

Summary of changes fromthe previous fiscal year

FY200971.2

18.8(33.8)

Group co. reporting losses(61.6)FY 201034.1(52.6)

Group co. reporting profits(59.0)FY 2009(C)(58.8)
160.1(Group companies)

7.9

ITOCHU Minerals & Energyof Australia Pty Ltd (IMEA)

218.9

Total

20.3

FY2010(40.0)
126.3

71.9(136.2)

Group Companies

166.2

43.3

1,060.5

Increase(Decrease)

63.5(Note 5) "Earnings from overseas businesses" is the total of net income attributable to ITOCHU of overseas
trading subsidiaries and overseas group companies, plus net income attributable to ITOCHU ofoverseas branch of parent company and domestic group companies substantially operating in overseas.

Group co. reporting losses

Machinery

924.4(43.7)FY 2008(48.4)
6.6(0.5)

Total(42.1)
FY 2007(100.0)
110.0

22.9

(12.4)(38.1)FY 2006

Group co. reporting profits

22.4(13.8)

FY2009

23.1

22.8

15.7

55.0

0.1

33.0

FY2010

118.4
64.4

53.4

(Major Group Companies Reporting Profits)(1.7%)
(12)
5(7)

139.7

77.1

210.0

102.6

19.2

160.9
93.4101.7(100.6)

102.7

Food

73.6%
309
111
420

Increase(Decrease): Parent company: Group companies: Overseas trading
subsidiaries: Consolidation
adjustments

Components of Net income attributable to ITOCHU(870.0)

TextileFinance, Realty, Insurance& Logistics Services
Other, Adjustments& Eliminations

Number of group co. reporting losses

P/L of Group Companies
Reporting Profits / Losses

Food/Almost the same level: Profitability improved in food resources such as feedgrains, oils and fats, decrease in food distribution subsidiary・ Loss on investments-net: Impairment loss on investments +26.2, net gain on

71.9%
297116413

FY2009(49.0)

Chemicals, Forest Products & General Merchandise/Decr : Slowdown in housing
market in Japan and the U.S., and sale of a tire-related subsidiary in the U.S.

Net income attributable to ITOCHUFY 2010(41.5)(815.0)(5.0)(Note 1) Net gain recognized in the acquisition: Total of "Loss on investments-net (-3.5)" and "Gain on bargain purchase in acquisition (+14.0)" is +10.6 (+6.2 after income tax effect).
(Note 2) Refer to the results announced by each corresponding company, as their announcement dates are on and after ITOCHU's announcement date of Fiscal Year 2010.
(Note 3) Income tax effect on the impairment loss is not included.

Operating Segment
Information

111.6
67%

FY2010Total

HOLDING CORP. +8.7 / Century Tokyo Leasing Corporation (Note 2) [Netprofit related to a merger +1.1] / Brazil Japan Iron Ore Corporation +4.0 / Equitymethod associated companies of I-Power Investment Inc. +2.2 / Marubeni-Itochu
Steel Inc. -12.1 / Orient Corporation(Note 2) [Impairment loss on investment(Note 3)-1.2〕 / Japan Brazil Paper and Pulp Resources Development Co., Ltd.
-5.6 / Yoshinoya Holdings Co., Ltd (Note 3) -3.3

194.3

70.1
55%

Share of Group Companies
Reporting Profits

Natural Gas Field Development Project(i); and decrease in other impairment losses

300(0.9)(21.3)(12.5)(2.6)(37.2)

155.6

ICT, Aerospace & Electronics/Decr: Overall low performance in Information andCommunication Technology-related business(145.0) (42.7%)
Adjusted profit
194.3
339.3
on property and equipment in the previous fiscal year(ii) +34.4 〔(i):+29.2 / (ii):+5.2〕,
Adjusted profit = Gross trading profit + SG&A expenses + Net financial income net gain on sales of property and equipment +2.5
・ Gain on bargain purchase in acquisition: Gain in the acquisitions of C.I.Kasei+ Equity in earnings of associated companies

400(Note 5)

Share of earnings from overseas
businesses

64.4
139.7
20.3
(59.0)
165.4

1,080.0

Machinery/Decr: Reduced transactions in automobile and construction machinery
business, the absence of ship deriveries trade in FY 2009

sales of investments -2.1, loss on business disposals and others -5.5

：Adjusted profit：Net income
attributable toITOCHU

Earnings from overseas businesses

63.5
118.4
7.9
(61.6)
128.2･ Revenue：Due to price falls on annual average in mineral resources, oil & gas, and・ Loss on property and equipment-net: Absence of the loss from Entrada Oil/

Net income attributable to ITOCHU and Adjusted profit

Increase(Decrease)113.2

Net income attributable to ITOCHU

Consolidated Financial
Results of Operations

FY 2009

(2.8)
165.4

(37.2)

Increase due to improved equity in earnings of assoc. co. and the absence of provision
for doubtful receivables and impairment loss on investments in the prev. FY
Decrease due to impairment loss on investments and decreased gross trading profit
despite increase in equity in earnings of associated companies
Decrease in gross trading profit and decreased equity in earnings of assoc. co. despite
the absence of the loss from Entrada Oil/Natural Gas Field Development ProjectIncrease due to net gain on acquisition of C.I.Kasei Co., Ltd., and the absence ofimpairment loss on and disposal of fixed assets in the prev. FY despite decreased
gross trading profit and worsened equity in earnings of assoc. co.
Increase due to decreased SG&A in a food distribution subsidiary and equity in earnings
of associated companies

March 312010

Financial Position
Total assets
Interest-bearing debt
Net interest-bearing debt

5,476.8
2,209.3
1,726.1
1,098.4
1.6

ITOCHU stockholders' equity
Net debt-to-equity ratio (times)

March 31
2009

Increase(Decrease)

5,192.1
284.8
2,389.3(180.1)
1,756.8(30.7)
849.4
249.0
2.1 improved 0.50

Outlook for
March 31, 2011

Summary of changes from the previous fiscal year end
Total assets / Increase mainly due to new consolidation of some subsidiaries, increase in Trade receivables
and Inventories associated with higher oil prices and chemical market recovery compared with March 31,2009; and increase in investments and Net property and equipment resulting from the appreciations ofBrazilian real and Australian dollar; as well as new investments in Textile, Food. ITOCHU stockholders'Equity / Increase due to dividend payment, accumulation of Net income attributable to ITOCHU,
improvement in Foreign currency translation adjustments, and improvement in Unrealized hold-ing gains
on securities and Pension liability adjustments resulting from recovery of stock market. "ITOCHU stockholders' equity" (Note 8) improved by 3.7pt to 20.1%, "NET DER"(Note 8) improved by 0.5pt to 1.6

5,800.02,500.0
2,100.0
1,200.0
1.8(Note 8) "Stockholders' equity" is equivalent to "ITOCHU stockholders' equity" and used in calculating "NET DER".

Cash FlowsFY 2010

FY2009Operating activities
Investing activities
Financing activities

295.4(196.3)(259.0)276.9(326.0)
258.3

Cash and cash equivalents

475.7

628.8

Increase (Decrease)(153.1)

182.5

Major Indicates
Average (Apr.-Mar.)

Foreignexchange(Yen/US$)Mar. closing
March 31st
Average (Jan.-Dec.)

Dec. closing
December 31st

FY 2010

Increase(Decrease)

18.5
129.7
(517.3)

FY 2009

Condition of Cash Flows for FY 2010

Operating: Net cash-inflow mainly due to good performance in operating revenue in overseas natural resourcerelated business, food, textile and chemicals business and reduction of inventories in automobile business.
Investing: Net cash-outflow mainly due to investments in the consumer-related sector, increased capital
expenditure in overseas natural resource development sector (Energy, Metals & Minerals), and additional
investments related to acquisitions of C.I.Kasei Co., Ltd. and ITOCHU LOGISTICS CORP.
Financing: Net cash-outflow (net repayment) mainly due to repayments of debt by the parent company anddividends payment.

Changes

Major Indicates

93.36

100.54(7.18) Interest, JPY TIBOR 3M, average (Apr.-Mar.)

Mar.-10 93.04

Mar.-09 98.23(5.19) Interest, US$ LIBOR 3M, average (Jan.-Dec. ）93.54

105.10Dec.-09 92.10

Dec.-08 91.03(11.56) Crude oil (Brent), (Apr.-Mar.)
1.07

average (US$/BBL)(Jan.-Dec.)

FY 2010

FY 2009

Changes0.528%

0.818%(0.290%)0.686%

2.928%(2.242%)

70.39

85.66

(15.27)

62.49

98.36

(35.87)