Exhibit B

October 30, 2009
ITOCHU Corporation

Highlights of Consolidated Financial Results for the Second Quarter of FY 2010 (U.S. GAAP)(from July 1, 2009 to September 30, 2009)(Unit: billion yen, (losses, decrease))

Financial topics for the Second Quarter (2nd Q) of FY 2010

・ 2Q "Net income attributable to ITOCHU" decreased by \41.7bil. compared with the previous 2Q to \34.9bil., achieved 27% of the expected net income for FY2010.
2Q "Net income attributable to ITOCHU" increased by \14.5bil. compared with 1Q, which shows a sign of recovery.
・ The income in "Textile" & "Mach." increased to \6.3bil. and \4.4bil. respectively, "ITC & Aero., Elec." also increased. "Ener., Met. & Min." showed significant decrease
due to price falls in metal resources in addition to retroactive adjustment of iron ore price determined in 2Q of FY2009, but still secured over \20.0bil. The income
decreased in "Chem., FP & GM" & in "Food", recorded \5.9bil. & \5.5bil. respectively, both of which exceeded \5.0bil. "Fin., Rlty., Insur. & LS" also secured profit.

Consolidated Financial
Results of Operations
Revenue
Gross trading profit
Selling, general andadministrative expenses
Provision for doubtful receivables

Net interest expenses
Dividends received
Net financial income (exp.)
Gain (loss) on investments-net
Loss on property and equipment-net

Other-net
Total other expenses
Income before income taxes
Income taxes
Income after income taxes
Equity in earnings ofassociated companies

Net income
Minority interests
Net income attributable to ITOCHU

2nd Quarter
FY 2009

883.8
233.7

767.9
294.4

116.0
(60.7)

15.1%(20.6%)･ Revenue: Increase due to the acquisition of several subsidiaries including ITOCHU(192.6)
(0.5)
(6.7)
4.4
(2.2)
2.4(0.4)
0.9(192.4)(186.5)(11.7)
(7.2)
7.5
0.3
(0.9)
(1.9)
(0.3)
(201.0)

(6.1)
11.3
0.5
(3.0)
(2.5)
3.3
1.6
1.2
8.7

3.3%
(96.1%)(7.1%)(40.8%)(4.3%)･ Gross trading profit: [Operating segment/Incr (Decr)](Incr/Decr fields & business)

41.3(15.3)
26.0
11.4
37.3
(2.4)
34.9

93.4
(30.2)
63.2
16.0
79.2
(2.6)
76.7

(52.1)
14.8(37.3)(4.6)(41.9)
0.1(41.7)(55.8%)(49.1%)(58.9%)(28.8%)(52.9%)(4.7%)(54.5%)

2,609.4
9.0%

3,366.8
8.7%(757.3)0.2%(22.5%)%

Textile / 0.1: Almost the same level due to market slowdown in textile materials, fabrics andapparels despite increase from an acquisition of SANKEI CO., LTD.
Mach. / (12.4): Decrease due to reduced transactions in automobile and construction machinery
business, decrease in sales volume by the absence of ship trading transactions in 2Q of FY2009
ICT & Aero., Elec. / 0.1: Almost the same level
Ener., Met. & Min. / (35.8): Significant decrease due to the absence of the retroactive adjustmentof higher iron ore price determined in 2Q of FY2009 in addition to price falls in metal resourcesand energies despite increase from an acquisition of ITOCHU ENEX CO., LTD.
Chem., FP & GM / (6.9): Decrease due to price falls in chemicals since last autumn and slowdown in housing market in Japan and the U.S., and deconsolidation of a subsidiary in the U.S.
despite increase from an acquisition of C.I.Kasei Co., Ltd.
Food / (0.5): Decrease due to price falls in feed and grain materials
Fin., Rlty. Insur. & LS / (1.0): Decrease in finance-related business･ SG&A: Increase mainly due to increase in pension cost and the effect of the acquisition ofITOCHU ENEX CO., LTD.

･ Net financial income (exp.) : Net interest expenses +0.5 (decline in US$ interest rate)
Dividend received -3.0(LNG-related investments -2.5)･ Gain (loss) on investments-net : Impairment loss -0.1, Net gain on sales ofinvestments +2.5, Loss on business disposals and others +0.9

Net income attributable to ITOCHU
2nd Quarter
FY 2010

2nd Quarter Increase
FY 2009 (Decrease)and equipment and other +0.6

･ Other-net : Improvement of foreign currency exchange gains (losses) +3.5, other -2.3
･ Equity in earnings of associated companies :(74.0)
50.2
124.2
(59.6%)
Adjusted profit
Adjusted profit = Gross trading profit + SG&A expenses + Net financial income+ Equity in earnings of associated companies

Operating Segment
Information

ENEX CO., LTD., despite decrease due to price falls in metal resources and energies,
reduced market in automobiles and housing market slowdown in Japan and the U.S.

･ Loss on property and equipment-net : Impairment loss +1.0, Net gain on sales of property(Reference)

Total trading transactions
Gross trading profit ratio

Summary of changes from the same periodof the previous fiscal year

Increase (Decrease)

2nd Quarter
FY 2010

Brazil Japan Iron Ore Corporation +0.9, TING HSIN (CAYMAN ISLANDS) HOLDING CORP. +0.6,
Marubeni-Itochu Steel Inc. -7.0, Equity-method associated companies of IMEA -2.9,
Orient corporation -1.1, Japan Brazil Paper and Pulp Resources Development Co., Ltd. -1.0

Net income attributableto ITOCHU[Net income attributable to ITOCHU]
Summary of changes from the same period of the previous fiscal year

1st Quarter
FY 2010

Increase(Decrease)

Textile

6.3

3.4

2.9

Increase due to the absence of impairment loss on an investment (2009/2Q), earnings
from newly purchased associated companies despite decreased gross trading profit

0.8

5.4

Machinery

4.4

2.8

1.6

Increase in equity in earnings of associated companies

(0.4)

4.8

ICT, Aerospace & Electronics

1.8

1.0

0.8

Increase due to decrease in SG&A(0.6)

2.3

5.6

14.9

2.2

3.7

13.0(7.4)

2.0(1.7)

(2.2)

(7.6)

20.4

14.5

Energy, Metals & Minerals

20.5

54.1

(33.6)

Decrease due to decreased equity in earnings of associated companies inaddition to significant decrease in gross trading profit

Chemicals, Forest Products& General Merchandise

5.9

8.0

(2.0)

Decrease due to decreased gross trading profit and equity in earnings of associatedcompanies despite increased gain (loss) on property and equipment-net and other-net

Food
Finance, Realty, Insurance& Logistics Services
Other, Adjustments& Eliminations

TotalComponents of Net Income
attributable to ITOCHU
Parent company
Group companies
Overseas trading subsidiaries

Consolidation adjustments
Net income attributable to ITOCHU

5.5

6.8

(1.2)

0.3

4.3

(4.0)

(9.9)

(3.7)

(6.1)

34.9

76.7

(41.7)

2nd Quarter
FY 2010

0.4
29.3
3.1
2.1
34.9

Decrease due to impairment loss on investments despite increased grosstrading profit
Decrease in dividends received from fund investment (FY2009/2Q), equity inearnings of finance-related associated companies & gross trading profit
Decrease due to decreased gross trading profit and equity in earnings ofassociated companies and increased inter-company income tax

2nd Quarter Increase
FY 2009 (Decrease)

16.8
54.6
8.5
(3.2)
76.7

(16.4)(25.3)(5.4)
5.3(41.7)

2nd Quarter
FY 2010Net income attributable to ITOCHU

34.9

2nd Quarter Increase
FY 2009 (Decrease)

76.7(41.7)

Earnings from(*)
46.5(32.3)
14.2
overseas businesses
Share of earnings from61%
41%
overseas businesses(*) "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 of overseas
branch of parent company and domestic group companies substantially operating in overseas.