This document is an English translation of quarterly financial results report released on July 29, 2022 and written initially inJapanese.
The Japanese original should be considered as the primary version.

July 29, 2022

Consolidated Financial Results for the First Three Months of
the Fiscal Year Ending March 31, 2023
<under IFRSs>
Company name:
Listing:
Stock code:
URL:
Representative:
Contact:

Itochu Enex Co., Ltd.
Tokyo Stock Exchange8133
https://www.itcenex.com/english/
Kenji Okada, Representative Director, President and CEO
Shinichiro Inoue, Executive Officer, Assistant to Chief Financial Officer, Deputy Chief
Operating Officer, Corporate Administration Division I and General Manager, Finance& General Accounting Department
Tel: +81-3-4233-8008

Scheduled date to file quarterly securities report: August 9, 2022
Scheduled date to commence dividend payments: –Preparation of supplementary results briefing material on quarterly financial results: Yes
Holding of quarterly financial results presentation meeting: None
(Millions of yen with fractional amounts rounded, unless otherwise noted)

1. Consolidated financial results for the first three months of the fiscal year ending March 31, 2023
(from April 1, 2022 to June 30, 2022)(Percentages indicate year-on-year changes.)(1) Consolidated operating results
Profit fromoperatingactivities

RevenueThree months ended
June 30, 2022
June 30, 2021

31.7

Millionsof yen
6,849

(2.7)

4,694

Millionsof yen%Millionsof yen%245,353

18.5

5,696

206,962

39.7

4,325

Basic earnings per
share attributable
to Itochu Enex’s
shareholders
Three months ended
June 30, 2022
June 30, 2021

Profit before tax

Yen

39.35
23.62

Diluted earnings
per share
attributable to
Itochu Enex’s
shareholders
Yen

–
–

Net profit

Net profit
attributable to
Itochu Enex’s
shareholders

Comprehensive
income66.6

Millionsof yen5,381

81.1(25.5)

2,971(28.1)

45.9

Millionsof yen4,956

49.9

Millionsof yen4,442(10.6)

3,307(12.8)

2,666

%

%

%

%

(2) Consolidated financial position
Total assets

As ofJune 30, 2022
March 31, 2022

Total shareholders’equityTotal equity

Millions of yen

Millions of yen

440,784
447,017

Ratio of shareholders’equity to total assets

Millions of yen

172,238
171,198%

146,338
144,29733.2
32.3

2. Cash dividends
Annual cash dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

–

23.00

–

25.00

48.00

24.00

–

24.00

48.00

Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023

Fiscal year-end

Total

–

Fiscal year ending
March 31, 2023
(Forecast)

Note: Revisions to the forecasts of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)

Profit from operating
activities

Revenue

Millions of yen

Six months ending
September 30, 2022
Fiscal year ending
March 31, 2023

(Percentages indicate year-on-year changes.)
Basic earnings
Net profit
per share
Profit before tax attributable to Itochu attributable toEnex’s shareholders Itochu Enex’s
shareholders% Millions of yen% Millions of yen% Millions of yen

%

Yen

–

–

–

–

–

–

–

–

–

1,000,000

6.8

19,400(7.3)

20,800(6.5)

13,000(1.5)

115.17

Note: Revisions to the consolidated earnings forecasts most recently announced: None
The Company’s performance is evaluated on a fiscal year basis. Accordingly, consolidated earnings forecasts for the
first six months of fiscal year are not prepared.

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
(2) Changes in accounting policies and changes in accounting estimatesa. Changes in accounting policies required by IFRSs:
b. Changes in accounting policies other than the above:c. Changes in accounting estimates:

None
None
None

(3) Number of issued shares (common stock)a. Total number of issued shares at end of period (including treasury stock)
As of June 30, 2022

116,881,106 shares

As of March 31, 2022

116,881,106 sharesb. Number of treasury stock at end of period
As of June 30, 2022

4,001,043 shares

As of March 31, 2022

4,000,969 sharesc. Average number of outstanding shares during period (cumulative from the beginning of the fiscal year)
For the three months ended June 30, 2022

112,880,090 shares

For the three months ended June 30, 2021

112,880,697 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public
accountants or an audit corporation.
* Proper use of earnings forecasts, and other special notes(Caution regarding forward-looking statements and others)
The forecasts and other forward-looking statements in this report are based on information currently
available to the Company and on certain assumptions deemed to be reasonable by the Company. Actual
business and other results may significantly differ from these forecasts due to various factors.

Contents of Attached Materials
1. Qualitative Information Regarding Results for the First Three Months ............................................... 2(1) Explanation of Operating Results ....................................................................................................... 2(2) Explanation of Financial Position ....................................................................................................... 6
2. Condensed Quarterly Consolidated Financial Statements and Significant Notes Thereto .................. 8(1) Condensed Quarterly Consolidated Statement of Financial Position .............................................. 8(2) Condensed Quarterly Consolidated Statement of Comprehensive Income .................................. 10(3) Condensed Quarterly Consolidated Statement of Changes in Equity ........................................... 12(4) Condensed Quarterly Consolidated Statement of Cash Flows ....................................................... 13(5) Notes on Uncertainties of Entity’s Ability to Continue as Going Concern .................................... 15(6) Segment Information .......................................................................................................................... 15

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1.

Qualitative Information Regarding Results for the First Three Months(1) Explanation of Operating Results
1)

Results of operations
During the first three months ended June 30, 2022, the outlook for the Japanese economy continued to
be extremely uncertain, with geopolitical risks such as the situation in Ukraine leading to soaring
resource prices, which, together with the impact of factors including a weaker yen, led to risingdomestic prices of petroleum products, electric power and other energy. As in the same period of theprevious fiscal year, there remains no indication of when the COVID-19 pandemic will end.
In terms of business, we are promoting our business in accordance with our two-year medium-termbusiness plan “SHIFT! 2022,” below, which was formulated in April 2021.
Overview of medium-term business plan
1. Name of the plan:

SHIFT! 2022

2. Period:

Two years (FY2021 to FY2022)

3. Basic policy:

Bases, Environment and Energy, and Human Resources
Bases‧ Further enhancement of domestic sale network and customer base
‧ Active promotion of B-to-C business utilizing digital transformation‧ Strengthening of overseas business development with a focus on Asia
Environment and Energy‧ Forays into untapped areas with environmental products, electricity andvarious other forms of energy‧ Further expansion of the electric power business from generation toselling, especially with renewable energy‧ Enhancing environmental technical capabilities and expand offerings of
low-carbon and decarbonized products
Human Resources‧ Cultivating multi-talented human resources who will flourish in Japanand overseas‧ Promoting diversity and fostering a diverse range of values

4. Quantitative plan (FY2022):
Target Consolidated Results for FY2022(1) Net profit attributable to Itochu Enex’s shareholders: ¥13.0 billion(2) ROE: 9.0% or moreManagement indicators(1) Substantive operating cash flows(*1): ¥30.0 billion or more each fiscal
period(2) Consolidated dividend payout ratio: 40% or more
(3) New investment (cumulative total over two fiscal years): ¥60.0 billion(*1) Substantive operating cash flows excludes working capital, etc. from cash flows from operating activities.

-2-

The operating results for the three months ended June 30, 2022 are as follows.
(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

206,962

245,353

38,391

Profit from operating activities

4,325

5,696

1,371

Net profit attributable to Itochu Enex’s shareholders

2,666

4,442

1,776

Revenue

ChangeRevenue was ¥245,353 million (up 18.5% year on year). This was mainly due to an increase in selling
prices of domestic petroleum products resulting from higher crude oil prices.
Profit from operating activities was ¥5,696 million (up 31.7% year on year). This was mainly due torobust sales in the Industrial Business Division, including asphalt sales, marine fuel sales, and in theenvironmental businesses, as well as the acquisition of new customers in the Home-Life Division andthe impact of inventory due to higher LP gas prices.
Net profit attributable to Itochu Enex’s shareholders was ¥4,442 million (up 66.6% year on year). Thiswas mainly due to an increase in income from consolidated subsidiaries and equity method affiliates.
2)

Results of operations by segment
Results of operations by segment are as follows.
Home-Life Division(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

18,015

21,9503,935

Profit from operating activities

338

534

196

Net profit attributable to Itochu Enex’s shareholders

365

1,037

672

Revenue

ChangeLP gas business: The number of customers under direct LP gas supply contracts increased byapproximately 8,000 from the end of the previous fiscal year to approximately 565,000 as a result ofactivities to acquire new customers and sales rights in the LP gas business. Although demand forcommercial use and automotive gas, which was affected by COVID-19, is on a recovery trend, overall
LP gas sales volume remained at the same level year on year due to a decrease in demand forhouseholds, which had seen demand from staying at home, associated with the relaxation of restrictions
on movement.
Sales of electricity for households: The division promoted the expansion of the customer base by
focusing mainly on selling LP gas as a set. As a result, the number of supply contracts was a total of
approximately 119,000 (an increase of approximately 1,000 from the end of the previous fiscal year).
Industrial gas sales business: Sales volumes increased year on year as a result of factors including arebound in demand from restaurants after a slump in the previous year associated with shortened
operating hours due to COVID-19, a recovery in the utilization rates of the customer plants to which
we are supplying, and an increase in new customers.
The operating results for the three months ended June 30, 2022 are as follows.
Revenue was ¥21,950 million (up 21.8% year on year). This was mainly due to an increase in selling
prices associated with higher LP gas prices.

-3-

Profit from operating activities was ¥534 million (up 58.0% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥1,037 million (up 184.1% year on year). This was mainly due to theimpact of inventory associated with the acquisition of new customers and higher LP gas prices.
Car-Life Division(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

119,898

129,869

9,971

1,506

1,770

264

731

1,036

305

Revenue
Profit from operating activities
Net profit attributable to Itochu Enex’s shareholders

Change

Car-Life Stations (CS)(*2) business: The number of CS was 1,636, unchanged from the end of theprevious fiscal year. Sales volumes of petroleum products remained at the same level year on year due,with severe market conditions due to soaring crude oil prices, but a gradual amelioration in the impact
of COVID-19.
Automotive business: Our car dealer business subsidiary OSAKA CAR LIFE GROUP CO., LTD.
experienced a decrease in sales volume year on year due to a decrease in production volume because of
semi-conductor shortages.
The operating results for the three months ended June 30, 2022 are as follows.
Revenue was ¥129,869 million (up 8.3% year on year). This was mainly due to an increase in selling
prices of domestic petroleum products linked to higher crude oil prices.
Profit from operating activities was ¥1,770 million (up 17.5% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥1,036 million (up 41.7% year on year). This was mainly due to robust
sales margins in retail in the CS business.
(*2) Car-Life Stations: Car-Life Stations are service stations offering multiple services provided by the Company.

Industrial Business Division(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

51,146

71,137

19,991

Profit from operating activities

785

1,902

1,117

Net profit attributable to Itochu Enex’s shareholders

568

1,298

730

Revenue

ChangeMarine fuel sales business: Sales volumes increased year on year due to steady sales of fuel oil for
ocean-going vessels.
Corporate fleet fuel card business: Sales volumes increased year on year due to progress in new
customer development.
Other: The customer base expanded due to the choice of appropriate sales prices based on the demandenvironment for each type of product, the adjustment of procurement and inventory management
operations, and the expansion of business with existing customers in each business.
The operating results for the three months ended June 30, 2022 are as follows.

-4-

Revenue was ¥71,137 million (up 39.1% year on year). This was mainly due to the increase in unit
sales prices of various petroleum products resulting from higher crude oil prices, as well as an increasein sales volumes.
Profit from operating activities was ¥1,902 million (up 142.3% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥1,298 million (up 128.5% year on year). This was mainly due torobust sales in the asphalt sales business, marine fuel sales business, and environmental businesses, aswell as operations appropriately responding to the market environment.
Power & Utility Division(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

Revenue

17,90322,397

4,494

Profit from operating activities

1,580

1,387

(193)

961

1,022

61

Net profit attributable to Itochu Enex’s shareholders

ChangeElectricity power retail business: The low-voltage sales volume(*3) increased year on year due to theacquisition of new contracts for both households and corporate sales. However, the high-voltage sales
volume declined due to a focus on profitability management. As a result, total sales volume decreased
year on year.
Heat supply business(*4): Heat sales volume increased year on year due to an increase in air
conditioning use in conjunction with higher average temperatures year on year.
The operating results for the three months ended June 30, 2022 are as follows.
Revenue was ¥22,397 million (up 25.1% year on year). This was mainly due to an increase in selling
prices associated with rapid rise in wholesale electricity market prices.
Profit from operating activities was ¥1,387 million (down 12.2% year on year). This was mainly due toan increase in selling, general and administrative expenses resulting from the strengthening of sales
activities.
Net profit attributable to Itochu Enex’s shareholders was ¥1,022 million (up 6.3% year on year). Thiswas mainly due to an increase in income from equity method affiliates.
(*3) Electricity sales volume includes brokerage volume for both high voltage and low voltage.
(*4) Heat supply business: The heat supply business supplies cold and hot water for air conditioning to multiple officebuildings and other buildings from a heat source plant using pipes.

-5-

(2) Explanation of Financial Position
Assets, liabilities and equity(Millions of yen)
As of March 31, 2022

As of June 30, 2022

ChangeTotal assets

447,017440,784(6,233)

Total liabilities

275,819

268,546(7,273)

Total equity

171,198

172,238

1,040

Total assets amounted to ¥440,784 million as of June 30, 2022, a decrease of ¥6,233 million from March
31, 2022. This was mainly due to a decrease in trade receivables of ¥16,359 million due to seasonal items.
Total liabilities amounted to ¥268,546 million, a decrease of ¥7,273 million from March 31, 2022. Thiswas mainly due to a decrease in trade payables of ¥16,479 million due to seasonal items, despite anincrease in short-term bonds and borrowings of ¥10,749 million. Total equity totaled ¥172,238 million, an
increase of ¥1,040 million from March 31, 2022, due to factors including an increase of ¥4,442 million
from net profit attributable to Itochu Enex’s shareholders and a decrease of ¥4,341 million by payment ofcash dividends.
Cash flows
The Group will expand peripheral businesses, develop new business areas, and aggressively promote
investment in environment-related businesses, using the cash flow generated from its core businesses.
With respect to financing capacity for the time being, we have sufficiently secured account overdraft
facilities and commercial paper issuance facilities, in addition to maintaining ample cash and cash
equivalents. Moreover, we have maintained healthy levels of debt thus far, which is currently reflected by
our net debt-equity ratio (net DER) of 0.01 times.
(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

Cash flows from operating activities

5,925

3,995

(1,930)Cash flows from investing activities(2,706)(3,599)(893)[Free cash flows][3,219][396][(2,823)]

Cash flows from financing activities(4,379)

3,345

7,724

Net increase (decrease) in cash and cash
equivalents(1,160)

3,741

4,901

2

40

38

33,683

41,9268,243

Effect of exchange rate changes on cash and cash
equivalents
Cash and cash equivalents at the end of theperiodChangeCash and cash equivalents (net cash) totaled ¥41,926 million as of June 30, 2022, up ¥3,781 million fromMarch 31, 2022.

-6-

Cash flows from operating activities(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

Cash flows from operating activities

5,925

3,995

(1,930)Changes in working capital and others

161(4,713)(4,874)

5,764

8,708

2,944

Substantive operating cash flow*

Change* Cash flows from operating activities minus working capital and others (increase in trade receivables, decrease (increase)in inventories, increase in trade payables, other – net)

Operating activities provided net cash of ¥3,995 million. Major items included profit before tax of ¥6,849
million, depreciation and amortization of ¥5,570 million, and payments associated with changes inworking capital and others of ¥4,713 million. Cash flows from operating activities decreased by ¥1,930
million year on year. Moreover, substantive operating cash flow increased ¥2,944 million year on year.
Cash flows from investing activities
The Group has always made investments with an awareness of capital efficiency based on our investment
strategy.
In the two years of the “SHIFT! 2022” medium-term business plan, we plan to invest a total of ¥60.0
billion, ¥30.0 billion to maintain and strengthen the important revenue base that generates cash, and ¥30.0
billion to invest in growth, such as renewable energy, environment-friendly business, and overseas
business.
Investing activities used net cash of ¥3,599 million. Major items included payments for purchase ofproperty, plant and equipment and investment property of ¥3,636 million. Cash flows from investing
activities increased by ¥893 million year on year.
Cash flows from financing activities
The Group aims to streamline Group-wide financing activities to enhance our corporate value. Enhancing
Group-wide financial management through our Group Financial System* resulted in ¥3,345 million infunds provided by financing activities. This was mainly due to repayments of bonds and borrowings of¥10,002 million, repayments of lease liabilities of ¥2,834 million, proceeds from short-term borrowings of¥20,522 million, and cash dividends paid to Itochu Enex’s shareholders of ¥2,825 million. Cash flows
from financing activities increased by ¥7,724 million year on year.
* The Group Financial System streamlines fund management and procurement costs by sharing funds within the Group.

-7-

2.

Condensed Quarterly Consolidated Financial Statements and Significant Notes
Thereto(1) Condensed Quarterly Consolidated Statement of Financial Position
As ofMarch 31, 2022
ASSETS
Current assets
Cash and cash equivalents
Trade receivables
Other current financial assets
Inventories
Income taxes receivable
Trade advances paid
Other current assets
Total current assets
Non-current assets
Investments accounted for by the equity method
Other investments
Non-current financial assets other than investments
Property, plant and equipment
Investment property
Goodwill
Intangible assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets-8-(Millions of yen)
As ofJune 30, 2022

38,145
118,911
14,95722,161
118
150
2,704

41,926
102,552
17,074
23,834
450
780
3,095

197,146

189,71128,042
3,396
13,883
160,492
12,979521
19,2328,412
2,914

29,682
3,338
12,914
161,674
12,733521
19,216
8,184
2,811

249,871251,073447,017440,784

As ofMarch 31, 2022
LIABILITIES AND EQUITYCurrent liabilities
Short-term bonds and borrowings
Trade payables
Lease liabilities
Other current financial liabilities
Income taxes payable
Advances from customers
Other current liabilities(Millions of yen)
As ofJune 30, 2022

23,091
120,227
9,468
7,527
3,054
10,78011,19033,840103,748
9,877
6,378
1,920
10,217
10,405

185,337

176,385

9,838
48,16014,691
10,480
1,038
6,006
269

9,838
49,924
14,47010,514
1,143
6,023
249

Total non-current liabilities

90,482

92,161

Total liabilities

Total current liabilities
Non-current liabilities
Non-current bonds and borrowings
Lease liabilities
Other non-current financial liabilities
Non-current liabilities for employee benefits
Deferred tax liabilities
Provisions
Other non-current liabilities

275,819

268,546

EquityCommon stock
Capital surplus
Retained earnings
Other components of equity
Treasury stock

19,87818,990107,617(315)(1,871)

19,87818,990109,234
109(1,871)

Total shareholders’ equity

144,297

146,338

26,901

25,900171,198

172,238

447,017440,784

Non-controlling interests
Total equity
Total liabilities and equity-9-(2) Condensed Quarterly Consolidated Statement of Comprehensive Income
Three months ended
June 30, 2021

(Millions of yen)Three months ended
June 30, 2022

Revenue
Cost of sales

206,962(186,120)

245,353(222,979)

Gross profit

20,842

22,374

Other income and expense
Selling, general and administrative expenses
Loss from tangible assets, intangible assets and goodwill
Other – net(16,636)(50)
169(16,710)(20)
52(16,517)(16,678)

Profit from operating activities

Total other income and expense

4,325

5,696

Financial income and costs
Interest income
Dividends received
Interest expense
Other financial income and costs – net

8
82
(221)
3

7
25
(215)
4

Total financial income and costs

(128)

(179)

Share of profit of investments accounted for by the equity method
Profit before tax
Income tax expense
Net profit
Net profit attributable to:
Net profit attributable to Itochu Enex’s shareholders
Net profit attributable to non-controlling interests
Total- 10 -

497

1,332

4,694

6,849

(1,387)(1,893)

3,307

4,956

2,666
641

4,442
514

3,307

4,956

Three months ended
June 30, 2021
Other comprehensive income, net of tax effectItems that will not be reclassified to profit or loss
FVTOCI financial assets
Other comprehensive income of investments accounted for by theequity method
Items that may be reclassified to profit or loss
Exchange differences on translating foreign operations
Cash flow hedges
Other comprehensive income of investments accounted for by theequity method(Millions of yen)Three months ended
June 30, 2022

2

(24)

8

(17)

(2)
(15)

20
–

(329)

446

(336)

425

Comprehensive income

2,971

5,381

Comprehensive income attributable to:Comprehensive income attributable to Itochu Enex’s shareholders
Comprehensive income attributable to non-controlling interests

2,330
641

4,866
515

2,971

5,381

Total other comprehensive income, net of tax effect

Total

(Yen)
Earnings per share attributable to Itochu Enex’s shareholders
Basic
Diluted- 11 -

23.62
–

39.35
–

(3) Condensed Quarterly Consolidated Statement of Changes in Equity
Three months ended June 30, 2021
(Millions of yen)
Shareholders’ equity

Balance at April 1, 2021

Noncontrollinginterests

Total equity

136,233

25,165

161,399

2,666

641

3,307

(336)

(336)

(0)

(336)

(336)

2,330

641

2,971

(3,164)(646)(3,810)Commonstock

CapitalsurplusRetainedearnings

Other
componentsof equity

Treasury
stock

Total
shareholders’equity19,87818,974

99,829(576)(1,871)

Net profit

2,666

Other comprehensive
incomeComprehensive income

2,666Transactions with owners
Cash dividends(3,164)

Changes due to additional
acquisitions of interests in
subsidiaries(23)

Transfer from othercomponents of equity toretained earnings

39

19,87818,951

(23)

–

–

(0)

(0)

(0)

(1,871)

135,378(39)

Purchase and disposal oftreasury stock
Balance at June 30, 2021

(23)

99,370(950)

25,160160,538

Three months ended June 30, 2022
(Millions of yen)
Shareholders’ equity

Balance at April 1, 2022

Noncontrollinginterests

Total equity

144,297

26,901

171,198

4,442

514

4,956

424

424

0

425

424

4,866

515

5,381

(2,825)(1,516)(4,341)

Commonstock

CapitalsurplusRetainedearnings

Other
componentsof equity

Treasury
stock

Total
shareholders’equity19,87818,990107,617(315)(1,871)

Net profit

4,442

Other comprehensive
incomeComprehensive income

4,442Transactions with owners
Cash dividends(2,825)

Transfer from othercomponents of equity toretained earnings

0(0)

Purchase and disposal oftreasury stock
Balance at June 30, 2022

19,87818,990109,234- 12 -

109

–

–

(0)

(0)

(0)

(1,871)

146,338

25,900172,238(4) Condensed Quarterly Consolidated Statement of Cash Flows(Millions of yen)Three months ended
June 30, 2021
Cash flows provided by operating activities
Profit before tax
Depreciation and amortization
Loss from tangible assets, intangible assets and goodwill
Financial income and costs
Share of profit of investments accounted for by the equity method
Increase in trade receivables
Decrease (increase) in inventories
Decrease in trade payables
Other – net
Dividends received
Interest received
Interest expense
Income taxes paid
Net cash flows provided by operating activities
Cash flows from investing activities
Purchase of investments (including investments accounted for by
the equity method)
Proceeds from sales and redemption of investments (including
investments accounted for by the equity method)
Payment for loans receivableCollection of loans receivable
Payments for purchase of property, plant and equipment andinvestment property
Proceeds from sales of property, plant and equipment andinvestment property
Purchase of intangible assets
Proceeds from sales of intangible assets
Other – net
Net cash flows used in investing activities- 13 -

Three months ended
June 30, 2022

4,694
5,097
50
128
(497)
12,412
1,514(12,285)(1,480)652
8(182)(4,186)

6,849
5,570
20
179
(1,332)
16,359(1,673)(16,479)(2,920)585
7(229)(2,941)

5,925

3,995

(119)

(419)

436

28

(117)
166

(264)
240

(2,668)(3,636)

273

74

(543)
1
(135)

(460)
1
837

(2,706)(3,599)(Millions of yen)Three months ended
June 30, 2021

Three months ended
June 30, 2022

Cash flows used in financing activities
Repayments of bonds and borrowings
Repayments of lease liabilities
Net increase in short-term borrowings
Cash dividends paid to Itochu Enex’s shareholders
Cash dividends paid to non-controlling interests
Purchase of treasury stock(169)(2,798)
2,398(3,164)(646)(0)(10,002)(2,834)
20,522(2,825)(1,516)(0)

Net cash flows used in financing activities(4,379)3,345

Net increase (decrease) in cash and cash equivalents(1,160)3,741

Cash and cash equivalents at the beginning of the period

34,841

38,145

Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents at the end of the period- 14 -

2

40

33,683

41,926

(5) Notes on Uncertainties of Entity’s Ability to Continue as Going Concern
No items to report.
(6) Segment Information
Three months ended June 30, 2021
(Millions of yen)
Reportable segment
Home-Life
Division

Car-Life
Division

Industrial
Business
Division

Power &
Utility
Division

Total

Revenue from externalcustomers

18,015

119,898

51,146

17,903

Intersegment revenue

16

1,890

2,205

Total revenue

18,031

121,788

5,118

Profit from operating
activities

Adjustment

Consolidated

206,962–

206,962

615

4,726

(4,726)–53,351

18,518211,688(4,726)

206,962

11,193

1,794

2,737

20,842–

20,842

338

1,506

785

1,580

4,209

116

4,325

Profit before tax

676

1,433

820

1,687

4,616

78

4,694

Net profit attributable to
Itochu Enex’s shareholders

365

731

568

961

2,625

41

2,666

67,116

151,459

49,06788,307355,949

34,278390,227

Revenue

Gross profit

Other items
Total assets(Note)

Intersegment transactions have been decided by reference to the market price.
The adjustment of ¥41 million to net profit attributable to Itochu Enex’s shareholders represents corporate profit(loss) not allocated to reportable segments.
The adjustment of ¥34,278 million to total assets represents corporate assets not allocated to reportable segments.

- 15 -

Three months ended June 30, 2022
(Millions of yen)
Reportable segment
Home-Life
Division

Car-Life
Division

Industrial
Business
Division

Power &
Utility
Division

Total

Revenue from externalcustomers

21,950129,869

71,13722,397

Intersegment revenue

19

2,326

3,651

Total revenue

21,969132,195

5,039

Adjustment

Consolidated

245,353–

245,353

380

6,376

(6,376)–74,78822,777

251,729(6,376)245,353

11,351

3,154

2,830

22,374–

22,374

534

1,770

1,902

1,387

5,593

103

5,696

Profit before tax

1,478

1,714

1,879

1,693

6,764

85

6,849

Net profit attributable to
Itochu Enex’s shareholders

1,037

1,036

1,298

1,022

4,393

49

4,442

71,815

154,035

63,980115,341

405,171

35,613440,784

Revenue

Gross profit
Profit from operating
activities

Other items
Total assets(Note)

Intersegment transactions have been decided by reference to the market price.
The adjustment of ¥49 million to net profit attributable to Itochu Enex’s shareholders represents corporate profit(loss) not allocated to reportable segments.
The adjustment of ¥35,613 million to total assets represents corporate assets not allocated to reportable segments.

As of March 31, 2022
(Millions of yen)
Reportable segment

Total assets(Note)

Home-Life
Division

Car-Life
Division

Industrial
Business
Division

Power &
Utility
Division

Total

77,719158,145

62,239117,272

415,375

Adjustment

Consolidated

31,642447,017

The adjustment of ¥31,642 million to total assets represents corporate assets not allocated to reportable segments.

Change in reportable segments
In conjunction with the absorption-type merger of KOKURA ENTERPRISE ENERGY CO., LTD. and
ENEX PETROLEUM SALES NISHI-NIHON CO., LTD., which were subsidiaries of the Company, by
ENEX FLEET CO., LTD., also a subsidiary of the Company in the first quarter of the current fiscal year,
the Group reviewed the management classification and changed the method to include the business of
KOKURA ENTERPRISE ENERGY CO., LTD., which was previously included in the Industrial Business
Division, in the Car-Life Division.
Due to the change in segments, segment information for the first three months of the previous fiscal year
and as of the end of the previous fiscal year has been adjusted based on the classification of reportablesegments after the change.

- 16 -