【添付資料③】

ITOCHU ENEX CO., LTD.
(TSE Prime, 8133)

Financial Results(FY2023)
May 9, 2024

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Copyright©2024
ITOCHUENEX ENEX
CO.,LTD.
All rights
Copyright©2020
ITOCHU
CO.,LTD.
All reserved.
rights reserved.

Note
We pay close attention to the content of the material, but the Company and information providers will not be liable
for any damage caused by errors in the information posted or damage suffered based on the information posted inthis material.
The current plans and strategies of the Company posted in this material are forecasts prepared by the Company
based on information currently available, and these future forecasts include risks and uncertainties. Accordingly, theactual results may differ materially from the forecasts posted. Please note that the Company does not guarantee
the certainty of these forecasts.
・Unless otherwise noted, all the numerical values in this material are based on the International Financial ReportingStandards (IFRS).
・In this material, the notation has been replaced as follows.
“Profit from operating activities”  “Operating profit”“Net profit attributable to Itochu Enex’s shareholders” “Net profit”

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1

Results Highlights

Overview of Consolidated Financial Results for the Fiscal Year Ended March 31, 2024
■ Net profit increased 0.1 billion yen year on year to 13.9 billion yen, reaching a record high.

■ Profit increased thanks to the strength of the car dealer business, coupled with gains on sale associatedwith the replacement of assets. However, the industrial Business segment experienced a decline inearnings attributed to a reactionary decline from the strong performance it had recorded in the previous
fiscal year and a downturn in the electric power market.

Net sales

963.3 billion yen 4.8% year on year)

88.6 billion yen 1.1% year on year)

(-

Gross
profit(-Operatingprofit23.6 billion yen 10.4

Net profit

13.9 billion yen(+% year on year)(+0.4% year on year)

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2

Contents

1. Overview of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
1）Overview of the Entire Company
2）Overview by Segment

2. Progress on Medium-Term Business Plan
1）Overview and Status of Initiatives2）Progress in Each Department◇ Appendix
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3１. Overview of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
1) Overview of the Entire Company

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4

Summary of Financial Results for FY2023(100 million yen)

FY2022 Results

FY2023 Results

Changes

FY2023 Plan

10,120

9,633

-487

Gross profit

896

886

-9

Selling, general and administrative
expenses

-689

-702

-13

Loss (gain) related to fixed assets

-6

46

+52

Operating profit

214

236

+22

Share of profit (loss) of investments
accounted for using equity method

24

19

-5

Net profit

138

139

+1

76.9%

79.3%

+2.4 pt

50

54

+4

Net sales

Ratio of SG&A expenses to gross profit
Dividends (yen/share)❏ Net profit increased 0.1 billion yen year on year to 13.9 billion yen, reaching a record high.
❏ Profit increased thanks to the strength of the car dealer business, coupled with gains on saleassociated with the replacement of assets. However, the Industrial Business segment experienced adecline in earnings attributable to a reactionary decline from the strong performance it had recorded in theprevious fiscal year and a downturn in the electric power market.
❏ The annual dividend is expected to rise 4.00 yen from that for the previous year, to an ordinary dividend of
54 yen per share.

Achievement rate

9,700*

99%

209

113%

135

103%

* The full-year consolidated earnings forecast for net sales was revised to 970
billion yen from an initial forecast of 1,200 billion yen on January 31, 2024.

[Reference] Quarterly results (net profit)

51

44

39

25

30

38

43

7
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
FY2022
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5

Net Profit by Segment(100 million yen)150

FY2022
Results

FY2023Results

138

139

Major factors for increase/decrease▋ Home-Life (YoY: -¥900 million, Percent of the plan achieved: 66%)
130

27

18

110

90

Profit decreased due to the impact of fluctuations in inventory unit prices on margins
following a drop in the LP gas import price.

▋ Car-Life (YoY: +¥2,000 million, Percent of the plan achieved: 151%)
45

65

Profit increased due to the strength of the car dealer business and a gain on the sale offormer CS sites.

70▋ Industrial Business (YoY: -¥2,400 million, Percent of the plan achieved:
113%)

50

Profit decreased due to the reactionary decline in the marine fuel business and in the
distribution terminal business, both of which achieved strong performances in thepreceding year.

59

35▋ Power & Utility (YoY: +¥1,200 million, Percent of the plan achieved: 61%)

30

10

-10

10
-3

23

Profit increased, with a gain on the sale of a mega solar power plant offsetting a decline inearnings that resulted from a downturn in the electric power market.

-2(*) CS: Stands for car life station, which is a multi-service station offered by the Company.
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6

Analysis of Net Profit by Segment(100 million yen)▋Home-Life
Major factors
for increase/decrease

Impact of fluctuations ininventory unit prices on
margins, etc.
Others factors including
impairment▋Car-Life-7.5

Petroleum sales business+12.0
Automotive business
+7.9

-1.8

▋Industrial
Business
Distribution terminals
Marine products
Asphalt
Industrial gas
Other▋Power & Utility
-19.9
-7.9
+2.7
+1.4
+0.1

Financial business
Provision of heat
Electricity sales
Other

+27.7
+6.6
-20.4
-1.7

▋OtherExpenses

+1.4

+19.9
+12.2
138.3

-9.3
-23.6

+1.4
138.9

+0.6
FY2022
Results

FY2023Results
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7

Financial Position
Trade receivables increased due in part to an increase in the crude oil prices
at the end of the fiscal year.
❏ Total assets: Increased 11.3 billion yen from the end of the previous
year to 444.3 billion yen, reflecting an increase in trade receivables
attributable in part to an increase in the crude oil prices at the end of
the fiscal year.
❏ Shareholders’ equity: Increased 9.6 billion yen from the end of theprevious year to 162.5 billion yen, mainly reflecting a rise in net profit.
❏ PBR: Improved by 0.26pt from the end of the previous year to 1.09
times due to higher share prices.

(100 million yen)

Total assets

End of March2023
Results

End of March
2024
Results

4,330

4,443

Changes+113(100 million yen)

0.30 (Times)

4,900
4,400

4,443

4,330

3,900

0.20

3,400
2,900

0.10

2,400

1,900

1,625

1,530

0.00

1,400
Net interest-bearing debt

-179

-279

-100
900

Shareholders’ equity

1,530

1,625

+96
400

Ratio of shareholders’equity to net assets
Net DER

PBR

35.3%

36.6%

+1.3 pt

-0.12

-0.17

-0.05 pt

0.83

1.09

+0.26 pt

-0.12

(0.10)

-0.17

-100
-600
Total assets

-179

-279

End of March 2023

End of March 2024

Net interest-bearing debt

Shareholders' equity(0.20)Net DER (Right-hand scale)

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8

Cash Flows
Substantive operating cash flows decreased year on year,
but overall cash flows were steady, mainly due to the replacement of assets.
Cash Flows(100 million yen)

FY2020 Results

FY2021 Results

FY2022 Results

FY2023 Results

402

400

348

345

Cash flows from investing activities

-1

-191

-32

-66

Deposits paid to parent company

-

-

-

-200

Cash flows from investing activities*1(Excluding deposits paid to parent
company)

-1

-191

-32

134

Cash flows from financing activities

-245

-176

-377

-299

Substantive operating cash flows (*2)

329

338

373

289 (*3)

Cash flows from operating activities(*2) Operating CF – Increase/decrease inworking capital(*3) Including spending of approx. 3.4
billion yen as withholding income
tax related to the sale of assets

Operating CF
Investing CF*1
Financing CF
Substantive
operating CF

500
400
300
200
100
0
-100
-200
-300
-400

(100 million yen)

402

373

338

329

289

400

134

-32

-1
-245
FY2020Results

345

348
-191
FY2021Results

-176

-299

-377
FY2022
Results

FY2023Results

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9

Investment Trends
Started new initiatives such as the acquisition of business rights andinvestments in power plants and DX.
(100 million yen)

300

(100 million yen) Investment results for the FY2023 by segment

Investment Results (Company-wide)

50

37

40

250

223
200

222

36

36

31

30

186
167

164

34

174

20

10

150

0
Home-Life

Car-Life

Industrial Business

Power & Utility

Common100
Major new and strategic investment results
50▋Home-Life

Acquisition of business rights, investment in LPWA (*), etc.

▋Car-Life

Investment in the automotive aftermarket, etc.

▋Industrial
Business

New construction of industrial gas-related facilities, investment in themodified asphalt business, etc.

▋Power & Utility

Investment in photovoltaic power generation and solar power and demandresponse solutions▋CommonConstruction of new core systems, building of training facilities, and others

0
FY2018FY2019FY2020

FY2021

FY2022

FY2023(Full year)(Full year)(Full year)(Full year)(Full year)(Full year)(*) Abbreviation for Low Power Wide Area. Communication method for achieving long-distance telecommunication
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with reduced power consumption.
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10１. Overview of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
2) Overview by Segment

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11

Results by Segment
FY2022 Results

FY2023 Results

Changes

Rate of change %FY2023 Plan

Achievement rate

10,120
214
138

9,633
236
139

-487
+22
+1

-4.8%
+10.4%+0.4%

9,700*
209
135

99%
113%
103%

842
20
27

767
15
18

-75
-6
-9

-8.9%
-27.4%-34.1%

―
―
27

―
―
66%

▋ Car-Life

Net sales
Operating profit
Net profit

5,771
90
45

6,215
125
65

+444
+35
+20

+7.7%
+39.4%+44.2%

―
―
43

―
―
151%

▋ Industrial BusinessNet sales
Operating profit
Net profit

2,310
85
59

1,447
50
35

-863
-35
-24

-37.4%-40.7%-40.2%

―
―
31

―
―
113%

▋ Power & Utility

Net sales
Operating profit
Net profit

1,197
22
10

1,204
46
23

+7
+25
+12

+0.6%
+114.2%+119.3%

―
―
37

―
―
61%

(100 million yen)Company-wide

Net sales
Operating profit
Net profit▋ Home-Life

Net sales
Operating profit
Net profit* The full-year consolidated earnings forecast for net sales was revised to 970
billion yen from an initial forecast of 1,200 billion yen on January 31, 2024.
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12▋Home-Life
Profit decreased due to the impact of fluctuations in inventory unit prices
on margins following a drop in the LP gas import price.
(100 million yen)
FY2022 Results

FY2023 Results

Changes

Major factors for increase/decrease

Gross profit

181

180

-1

Selling, general andadministrative expenses

-162

-162

-0

Operating profit

20

15

-6

Share of profit (loss) ofinvestments accounted
for using equity method

21

16

-6

Net profit

27

18

-9

The number of customers under directcontract rose approx. 9,000 from the end of
the previous fiscal year, to approx. 574,000,
reflecting the acquisition of new customers
and business rights. LP gas sales volume
decreased year on year due to the impact of
the warm winter.
Profit slid due to a fall in the LP gas importprice, which led to a negative impact fromfluctuations in inventory unit prices on
margins.

Quarterly results (net profit)

17

15
10

9
4
-3
1Q 2Q 3Q 4Q
FY2022-5-2

1Q 2Q 3Q 4Q
FY2023

Profit (loss) of majoraffiliates

FY2022
Results

FY2023Results

Changes

ITOCHU ENEX HOME-LIFENISHI-NIHON

6

4

-2

ECORE
(The Company’s equity 51%)

6

7

+1

ENEARC(The Company’s equity 50%)9

FY2023 Plan

8

-1

Achievement rate

27

Number ofcustomers (1,000)

End of March2023

End of March
2024

Number of customers
under direct LP gas
supply contracts

565

574

Sales volumes
LP gas (thousand tons)

FY2022
Results

452

FY2023Results

422

66%

Changes+9
Changes-7%

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13

▋Car-Life
Profit increased due to the strength of the car dealer business anda gain on the sale of former CS sites.
(100 million yen)
FY2022 Results

FY2023 Results

Changes

Major factors for increase/decrease

491
-402

529
-413

+38
-12

-4
90

7
125

+11
+35

Share of profit (loss) ofinvestments accounted
for using equity method

-1

1

+1

Net profit

45

65

+20

Gross profit

Selling, general andadministrative expenses
Loss (gain) related to
fixed assets
Operating profit

FY2023 Plan

The number of CS decreased by 44 from theend of the previous fiscal year to 1,566. The
sales volume of oil products was higher thanin the previous year as demand trended
higher. The number of cars sold increased
year on year, reflecting strong deliveries of
new cars due to a recovery in the supply ofsemiconductors.
In terms of profitability, the brisk performanceof the car dealer business and a gain on thesale of former CS sites resulted in profit
growth.

Achievement rate

43

151%

FY2022
Results

FY2023Results

Changes

2,129
2,523
25
18

2,127
2,743
28
19

-0%
+9%
+10%
+5%

Quarterly results (net profit)
Profit (loss) of majoraffiliates

28

17
10

13 12

9 10

ENEX FLEET9

FY2022
Results

20

FY2023Results

24

Changes+4

Sales volumes
Gasoline (thousand KL)
Diesel oil (thousand KL)

Osaka Car Life Group(The Company’s equity 51.95%)

1119+8 New cars (thousand units)
Used cars (thousand units)

1Q

2Q 3Q 4Q
FY20221Q 2Q 3Q 4Q
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14

▋Industrial BusinessProfit decreased following a reactionary fall in the distribution terminal
business, which had performed strongly in the previous fiscal year.
(100 million yen)
FY2022 Results

FY2023 Results

Changes

Major factors for increase/decrease

Gross profit

152

113

-40

Selling, general andadministrative expenses

-62

-63

-1

Operating profit

85

50

-35

1

1

+0

59

35

-24

Share of profit (loss) ofinvestments accounted
for using equity method
Net profit

Profit (loss) of majoraffiliates

Quarterly results (net profit)

ITOCHU INDUSTRIAL GAS

21 21

4
1Q

2Q 3Q 4Q
FY2022

7

In the marine fuel business, the sales volume
decreased year on year after a partial contractionof transactions for ocean-going vessels. In the
AdBlue sales business, the sales volume washigher year on year, following good progress inthe development of sales channels.
In terms of profitability, the absence of strong
performances, such as those recorded mainly by
the distribution terminal business and the marine
fuel sales business in the previous fiscal year,
resulted in lower profits, despite the robust resultsof the asphalt sales business and the AdBlue
sales business.

FY2023Results

3

Changes

5+2

Sales volumes
Heavy fuel oil (thousand KL)
Asphalt (thousand tons)

16

14

FY2022
Results

94

FY2023 Plan

Industrial gas (thousand tons)
AdBlue (thousand KL)

Achievement rate

31

113%

FY2022
Results

FY2023Results

Changes

1,566
258
64
98

1,041
287
66
105

-34%
+11%
+2%
+7%

1Q 2Q 3Q 4Q
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15

▋Power & Utility
Profit increased with a gain on the sale of mega solar power plant having
absorbed the decline in earnings that resulted from a downturn in theelectric power market.
(100 million yen)
FY2022 Results

FY2023 Results

Changes

Major factors for increase/decrease

Gross profit
Selling, general andadministrative expenses
Loss (gain) related to
fixed assets

71
-60

64
-63

-7
-3

0

41

+41

Operating profit

22

46

+25

3

2

△1

10

23

+12

Share of profit (loss) ofinvestments accounted
for using equity method
Net profit

Profit (loss) of majoraffiliates

Quarterly results (net profit)

10

1

6

-7
1Q

2Q 3Q 4Q
FY20221Q 2Q 3Q 4Q
FY2023

Changes(The Company’s equity 66.6%)

Oji-Itochu Enex power retailingCo., Ltd.

6

4

-3

(The Company’s equity 60.0%)-21

FY2023Results-8+3+7

Tokyo Toshi Service Company-1

FY2022
Results

2
6
8

ENEX LIFE SERVICE

6With respect to the sales volume of the electricity
retailing business, the result of low voltage powersurpassed the previous fiscal year's level, attributable tothe acquisition of new contracts, while that of highvoltage power declined year on year due to theimplementation of profitability focused sales. As a result,overall sales fell year on year. Sales volume in the heatprovision business increased year on year due to anincrease in the use of air conditioners that resulted fromthe extreme heat in the summer of the year.
In terms of profitability, profit increased, with a gain on
the sale of a mega solar power plant offsetting a decline
in earnings attributed to a downturn in the electric power
market.

9
3
1

ENEX Electric Power Group39

Number of customers(in thousands)
Number of power supply
destinations (company-wide total)

FY2023 Plan

End of
End ofMarch 2023 March 2024

334

321

Changes-13

Achievement rate

37

61%

Sales volumes

FY2022
Results

FY2023Results

Electricity Retail (GWh)*

2,054

2,018

-2%

Sales of highvoltages*
Breakdown
Sales of low
voltages*

1,225

948

-23%

829

1,070

+29%

411
1,238

331
1,314

-19%
+6%

Steam (thousand tons)
Heat quantity (TJ)

Changes* Calculated based on preliminary values. Electricity retail includes agency quantity.
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16

2. Progress on Medium-Term Business Plan
1) Overview and Status of Initiatives

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17

Progress of ‘23-‘24 Quantitative Plan
Plan

2023 Results

Results

Net profit¥13.5 billion¥13.9 billon

Achieved

ROE

8-9%

8.8%

Achieved

Substantive
operating CF¥35.0 billion
each fiscal period¥28.9 billion

Fell slightly shortof the plan

Investment(2-year total)¥60.0 billion¥17.4 billion

Selection of investment
Decrease in CAPEXDividend
policyProgressive dividends
Strong awareness ofmaintaining a ratio of
40% or more

Progressive
dividends
40% or more

As planned
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Breakdown of Investment Results for FY2023
Major CAPEX
200

180

160

¥17.4 billion
37

120

34

117

36

60

31
40

57
20

LPG facilities, safety/security, renovationof offices, etc.

Acquisition of gas business rights, investment in
LPWA▋Car-Life

Renovation of CS* and car dealer stores

Investment in NAL Net Communications▋Industrial Business

Renovation of terminals and asphalt
bases
Renovation of heat supply facilities andpower generation facilities

Investment in Nichireki and new construction offacilities related to high-pressure gas
Investment in PV, the Company's own power sources,
and investment in Informetis
Construction of new core systems, building of training
facilities* Car life station▋Common100

80▋Home-Life▋Power & Utility

140

36

0

FY2023 (Full year)

Major new and strategic investment

System maintenance/renewal

50
45
40
35
30
25
20
15
10
5
0

CAPEX

37

28

9
□Home-Life□Home-Life

New and strategic business investment

34

36

17

27

17
Car-Life

36
31
14

32

17

10

5

Industrial Business

Power & Utility

Common(100 million yen)
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19

Medium-Term Business Plan, ENEX2030 ‘23-‘24
Position1

Developing a framework for achieving growth strategies by strengthening on-site
capabilities and revenue base, in preparation for realization of the 2030 Vision

Develop on-site capabilities

2

Developing a framework for making
investments⚫ Enhancing the ability to make investments (investment analysis,
structuring, execution and review)⚫ Establishment of an Investment Strategy Department as a professionalorganizational unit for making investments

3

Strengthening the organization and humanresources⚫ Development of human resources who can realize growth strategies⚫ Implementation of personnel, evaluation, and award systems to improve
employee motivation⚫ Improving the efficiency of consolidated group management

Major initiatives for FY2023⚫ Evolving the profit model by combining the strengths of all employees
and improving overall capabilities⚫ Promoting delegation of authority to speed up onsite decision making⚫ Introduction of personnel policies to evaluate onsite efforts andperformance✓ Decision-making, clarification of roles, and shift to a slim
structure✓ Establishment of a new department that provides
appropriate support and performs appropriate
management for promoting the delegation of authority✓ Building an organizational structure for making
investments✓ Making new strategic investments steadily✓ Starting to revise the personnel system✓ Opening a training facility with accommodations toenhance training✓ Implementing and continuing development of humanresources specialized in investment
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20

FY2024 Quantitative Plan

Financial Indicators (FY2024)
Net profit

13.5

¥

billionSubstantive
operating CF

35.0

¥

billionTotal amount ofinvestments

ROE

60.0

8-9%

¥

billionCumulative total
for FY2023 to FY2024

Impact of WECARS (former BIGMOTOR) on the quantitative plan
➢ The impact of the WECARS (former BIGMOTOR) project on the profit plan for FY2024 is limited.

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21

FY2023-FY2024 Shareholder Returns
Dividend increase

Shareholder Returns
Upward revision60

Commemorative
dividends

¥54

¥56

2

Progressive
dividends

50

6
28

40

30

40

20

42

44

44

48

50

52

10

16

20

Dividends for FY2023
28

24

FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024

32.4

31.7

45.2

36.3

--> ¥54(Upward revision by ¥2)0
Dividend
payout ratio(%)

Strong awareness ofmaintaining consolidated
dividend payout ratioof 40% or more

(Initial plan) ¥52

32
22

Dividend policy

34.8

41.0

41.0

41.2

46.4

41.1

40.8

43.9

46.8

Annual dividend at¥56 will be paid
in FY2024.
(Dividend increase of ¥2)
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22

Quantitative Plan
Investment classification

FY2022 Investment
Results

New and strategic
business investment➢ M&A➢ Mobility-related➢ Solar power generating equipment➢ Development of the Company's
own power sources➢ Investments related to training
facilities➢ Digital IT investment

ENEX2030 ‘23-‘24(total planned investment
over two years)

FY2023 Investment
Results

Investments related to
WECARS and mobility

New andstrategic
business
investment¥9.4 billion¥44.0 billion

FY2024 Investment
Plans¥10.0 billion or more
New and strategic
business investment¥11.7 billion

Selecting projects with highprofitability and high strategic
significance¥20.0 billion

CAPEX➢ Renovation of LP gas and CS (CarLife Station) facilities➢ Renovation of power generationand heat supply facilities➢ Car dealers¥7.3 billion¥16.0 billon¥5.7 billion

Investment amounts (Cash Out)

¥16.7 billion¥60.0 billion¥17.4 billion

Investment amounts (Cash In)-¥13.5 billion-¥20.8 billion

NET investment amounts¥3.2 billion-¥13.4 billion

CAPEX

CAPEX
¥10.0 billion

NET Cash In

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23

ENEX2030 Quantitative PlanENEX2030 Management Targets (2030 Target)* Unchanged from the initial plan

Financial Indicators
Net profit

Substantive operating cash flows

20.0¥
billion or
more

45.0

¥
billionNon-financial Indicators
GHG emissions

Ratio of female hires

50%

30% orreductionor moreabove(comparison with FY2018, Scopes 1 and 2)

ROE

9.0%
or moreNew and strategic
business investment

210.0

¥

billion

Percentage offemale managers

10%

Ratio of childcare leave
taken by male employees

80% ormore* Total for eight years (2023 to 2030)
Copyright©2020 ITOCHU ENEX CO.,LTD. All rights reserved.
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24Update on Initiatives for FY2023
Strengthening automotive related business

Investment in the automotive aftermarket- Signed a contract for business reconstruction of WECARS (former
BIGMOTOR) with ITOCHU Corporation and J-Will Partners- Capital participation in NAL Net Communications Co., Ltd. together with
ITOCHU Corporation- Restore trust, achieve a turnaround, and drive collaborations with related
businesses in the Group and the strengthening of the automotive business- NAL Net is a provider of vehicle maintenance management services to carlease companies.
- By leveraging the ITOCHU Group's expertise, efforts will be made to builda system to meet diverse automotive maintenance needs to expand theautomotive aftermarket business.
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25

Update on Initiatives for FY2023
Promotion of a sustainable asphalt supply system

New services with AI-based power analysis- Formed a capital and business alliance with Nichireki Co., Ltd.

- Formed a capital and business alliance with Informetis Co., Ltd.

- Nichireki is a provider of products, construction services and technologies,
among other products and services, associated with road pavement.

- Informetis provides a power consumption visualization service.

- Efforts will be made to further strengthen businesses related to themaintenance of road infrastructure, with a view toward promoting
environmental load reduction-oriented businesses and building a stable
and secure system for the supply of asphalt and asphalt-related products.

- Efforts will be made to facilitate more efficient energy utilization through ademand response and other means and to provide new services andsolutions based on high precision energy data.

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26

2. Progress on Medium-Term Business Plan
2) Progress in Each Department

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27

Home-Life Division

Progress of ENEX2030 ‘23-‘24◼ Net profit plan and results
Medium-term business plan(100 million yen)

Progress in focus areas50◼ LP gas business

30

26 27

27

26

◼ New businesses and services

18

20- Considered strengthening of sales of equipment and housing equipment
and the development of new services- Prepared for renewing the point program to increase customer satisfaction- Accelerated the M&A of LPG logistics business and peripheral businesses

10◼ IT and digitalization
0

FY2022
Plan Results

FY2023
Plan Results

FY2024
Plan- Facilitated digitalization in safety audits, deadline management andeducational areas- Gold certification obtained by seven companies by installing low power wide
area (LPWA) gas meters. Drove the streamlining of safety/security anddistribution areas.
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40

- Number of households using the Group's LPG: rose to 574,000 (up 9,000
from the end of the previous year)- Drove the efficiency improvement of sales activities by enhancing thecontact center functions- Conducted research, preparations, training, etc. for Ministerial Ordinance on
Amendment to the Act on the Securing of Safety and the Optimization ofTransaction of Liquefied Petroleum Gas

28

Car-Life Division

Progress of ENEX2030 ‘23-‘24◼ Net profit plan and results
Medium-term business plan(100 million yen)

Progress in focus areas

65

70◼ Petroleum wholesale business50- Expanded the customer base by offering diverse payment methods andfacilitating the use of the interchangeable point scheme- Drove the business expansion of an e-commerce site for automotive
products

42 45

43

43

40
◼ Petroleum sales business30- Expanded directly operated sites and management agents of the fleet
business- Drove the opening of new facilities for the farm-fresh vegetable business in
the Oita area

20
10

◼ Mobility business

0
FY2022
Plan Results

FY2023
Plan Results

FY2024
Plan- Expanded the customer base by opening a shop that adopts a new
business format at the LaLa Port Kadoma- Drove the automotive maintenance contract business
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C opyr i g ht© 2024 ITOC H U ENEX C O.,LTD. Al l r i g hts r eser ved.

60

29

Industrial Business
Division

Progress of ENEX2030 ‘23-‘24◼ Net profit plan and results
Medium-term business plan(100 million yen)

59

Progress in focus areas

40
30

28

31 35

40

- Formed a capital and business alliance with a modified asphalt
manufacturer- Built tanks at the Etajima Terminal- Completed the construction of the Okayama AdBlue® Manufacturing Plant- Completed Built tanks at the Sodegaura Asphalt Base- Increased container reinspection equipment in the gas container pressure
resistance inspection business

20
10
0

◼ Development of new business- Started demonstration of bicycle sharing business

FY2022
Plan Results

FY2023
Plan Results

FY2024Plan- Launched LNG bunkering business

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◼ Further strengthening existing businesses

50

30Power & Utility
Division

Progress of ENEX2030 ‘23-‘24◼ Net profit plan and results
Medium-term business plan(100 million yen)

Progress in focus areas

50◼ Expand customer base by utilizing electricity and DX

37

37- Built a base of 660,000 electricity and mobility customers

33
30

23

◼ Realizing decarbonization and offering economic
advantages simultaneously

20
10- Developed and introduced the unmanned rental car system- Began providing solar power offsite PPA for data centers- Launched a self-wheeling service for solar power generation for
Corp Sapporo stores10◼ Provision of new added-value services

0

FY2022
Plan Results

FY2023
Plan Results

FY2024
Plan- Participated in the electricity data utilization business through thecapital and business alliance with Informetis Co., Ltd.
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C opyr i g ht© 2024 ITOC H U ENEX C O.,LTD. Al l r i g hts r eser ved.

4031

Appendix

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32

(Reference) Market Trends
Crude oil prices remained flat in the second half while CP and power prices
were mostly below the previous year's level throughout the year.
FY2022

FY2023

Trends in Dubai crude oil price102.7983.41

2023/4108.13113.24

74.93

74.99

2023/52023/6

Trends in propane CP price940

2023/4103.1280.45

2023/786.47

2023/8

92.53
93.31

91.13

90.91

89.76

2023/92023/10

86.22

77.33

78.85

80.88

84.15

83.56

77.20

80.38

82.09

78.49

2023/112023/122024/12024/22024/3555

2023/54502023/6

16.95

21.27

82.34
Change from theprevious year: -10.19

Average price($/MT)

725
400
2023/7

Electricity wholesale transactions market

17.76

96.60

850
750

555

Average price($/bbl)

24.80

790
670

470

2023/8Change from theprevious year: -154
720

610

650

620

590

610

610

590

630

630

2023/102023/112023/122024/12024/22024/3

650

600

550
2023/9711
557

Average price(Yen/KWh)
25.52

24.02

22.08

22.60

Change from theprevious year: -9.63

25.04
19.57

15.07

9.81

8.56

8.65

8.48

10.13

11.68

13.39

11.24

14.20

12.40

10.12

9.36

10.66

2023/42023/52023/62023/72023/82023/92023/102023/112023/122024/12024/22024/3

20.37

10.74

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33

Appendix[Reference] Shipments of gasoline and diesel oil in Japan (national statistics)
Most recent 1 year (Apr. 2023 - Mar. 2024)

Weekly shipment volume of gasoline

Year ago value

Unit: Thousand kiloliters
1,011

855
748

817
745

872

787
819

859
852

758

851
800

900

918

916
841

789

833

838

813

827
797

714

665
First week of
April

Third week of
AprilFirst week ofMay

Third week ofMay

First week of
June

Third week of
JuneFirst week of
July

Third week of
JulyFirst week ofAugustThird week ofAugustFirst week of
September

750

Third week of
SeptemberFirst week ofOctober

748
748

809
753

815

729

829

843

771

804

750
655
649

Third week ofOctoberFirst week ofNovemberThird week ofNovember

596

606

588

First week ofDecemberThird week ofDecemberFirst week ofJanuary

815

817

763

783

770

Third week ofFebruaryFirst week ofMarch

Third week of
March

655

611

796

778

798
723

Third week ofJanuaryFirst week ofFebruary

675

682

Weekly shipment volume of diesel oil Unit: Thousand kiloliters
613

572

648

619
578

396

662

665

727

721
598

565

622
409

490

549

534

657

460

596

532
521

642
630

590
545

544

686

654
623

571

330

640

585

601

568

First week ofFebruary

Third week ofFebruary

655

597

388

317

78
First week of
April

Third week of
AprilFirst week ofMay

Third week ofMay

First week of
June

Third week of
JuneFirst week of
July

Third week of
JulyFirst week ofAugustThird week ofAugustFirst week of
September

Third week of
SeptemberFirst week ofOctoberThird week ofOctoberFirst week ofNovemberThird week ofNovemberFirst week ofDecemberThird week ofDecemberFirst week ofJanuary

Third week ofJanuaryFirst week ofMarch

Third week of
March* Created based on statistics from Petroleum Association of Japan
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34

Appendix[Reference] Monthly sales volume of LP gas (March to February, national statistics)
Unit: Thousand tons

March

April

May

June

July

August2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

ChangesForhouseholdandbusiness
use

806

722

△10%

621

566

△9%

529

533

+1%

499

465

△7%

448

430

△4%

402

409

+2%

For cars

31

29

△6%

31

28

△10%

30

29

△2%

32

29

△8%

34

32

△6%

32

31

△1%

Total

837

751

△10%

652

594

△9%

559

563

+1%

530

494

△7%

482

461

△4%

434

440

+1%

September

OctoberNovember

DecemberJanuary

February

Total

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2023

2024

Changes

2023

2024

ChangesYear ago
value

Most
recent1 yearChangesForhouseholdandbusiness
use

440

393

△11%

492

471

△4%

621

595

△4%

810

778

△4%

822

756

△8%

765

743

△3%

7,256

6,860

△5%

For cars

31

29

△6%

30

28

△8%

31

28

△10%

32

30

△8%

28

27

△2%

28

28

0%

369

348

△6%

Total

471

423

△10%

523

498

△5%

652

623

△4%

843

808

△4%

850

783

△8%

793

771

△3%

7,625

7,209

△5%

* Created based on statistics from Japan LP Gas Association
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35

Appendix[Reference] Monthly sales of new cars (Standard-sized cars, compact cars and kei (light) cars)(April to March, national statistics)
April

May

Unit: Thousand units

June

July

AugustSeptember

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2022

2023

ChangesStandardsized andcompact
cars

154

193

+26%

136

180

+32%

170

227

+34%

187

222

+19%

154

183

+19%

212

238

+12%

Kei cars

91

96

+6%

75

92

+22%

98

105

+7%

101

99

△2%

80

97

+22%

113

126

+11%

Total

244

290

+19%

212

272

+28%

268

332

+24%

288

321

+11%

234

281

+20%

325

363

+12%

OctoberNovember

DecemberJanuary

February

March

Total
Most
Year ago
recent Changesvalue
1 year2022

2023

Changes

2022

2023

Changes

2022

2023

Changes

2023

2024

Changes

2023

2024

Changes

2023

2024

ChangesStandardsized andcompact
cars

186

215

+15%

193

225

+16%

181

201

+11%

202

193

△4%

237

203

△14%

330

269

△19%

2,341

2,547

+9%

Kei cars

110

120

+9%

115

119

+4%

104

101

△3%

118

92

△22%

120

96

△20%

148

115

△22%

1,272

1,260

△1%

Total

296

334

+13%

308

344

+12%

284

302

+6%

320

285

△11%

356

298

△16%

478

384

△20%

3,614

3,807

+5%

* Compiled based on statistical data issued by the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association
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36

Contact
Finance & Investor Relations Section
Staff： Nakamura or Morita[E-MAIL] enex_irpr@itcenex.com[TEL] +81-3-4233-8025 [FAX] + 81-3-4533-0103

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37