This document is an English translation of quarterly financial results report released on July 31, 2023 and written initially inJapanese.
The Japanese original should be considered as the primary version.

July 31, 2023

Consolidated Financial Results for the First Three Months of
the Fiscal Year Ending March 31, 2024
<under IFRSs>
Company name:
Listing:
Stock code:
URL:
Representative:
Contact:

Itochu Enex Co., Ltd.
Tokyo Stock Exchange8133
https://www.itcenex.com/english/
Tomofumi Yoshida, Representative Director, President and Chief Executive Officer
Shinichiro Inoue, Executive Officer, Chief Compliance 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, 2023
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, 2024
(from April 1, 2023 to June 30, 2023)(Percentages indicate year-on-year changes.)(1) Consolidated operating results
Profit fromoperatingactivities

RevenueThree months ended
June 30, 2023
June 30, 2022

Millions%of yen214,743 (12.5)
245,353

Millionsof yen
9,246
5,696

18.5

Basic earnings per
share attributable
to Itochu Enex’s
shareholders
Three months ended
June 30, 2023
June 30, 2022

Yen

45.54
39.35

Profit before tax

62.3

Millionsof yen
8,519

31.7

6,849

%

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

–
–

Net profit

Net profit
attributable to
Itochu Enex’s
shareholders

Comprehensive
income

15.7

Millionsof yen
6,224

15.7

66.6

5,381

81.1

24.4

Millionsof yen5,730

15.6

Millionsof yen
5,139

45.9

4,956

49.9

4,442

%

%

%

%

(2) Consolidated financial position
Total assets

As ofJune 30, 2023
March 31, 2023

Total shareholders’equityTotal equity

Millions of yen

Millions of yen

406,312433,024

Ratio of shareholders’equity to total assets

Millions of yen

183,162
180,328%

155,656
152,96138.3
35.3

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

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

–

24.00

–

26.00

50.00

26.00

–

26.00

52.00

Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024

Fiscal year-end

Total

–

Fiscal year ending
March 31, 2024
(Forecast)

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

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2024
(from April 1, 2023 to March 31, 2024)

Profit from operating
activities

Revenue

Millions of yen

Fiscal year ending
March 31, 2024

1,200,000% Millions of yen

18.6

20,900(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(2.2)

22,300% Millions of yen(3.2)

13,500

%

(2.4)

Yen

119.62

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, 2023

116,881,106 shares

As of March 31, 2023

116,881,106 sharesb. Number of treasury stock at end of period
As of June 30, 2023

4,025,977 shares

As of March 31, 2023

4,025,827 sharesc. Average number of outstanding shares during period (cumulative from the beginning of the fiscal year)
For the three months ended June 30, 2023

112,855,202 shares

For the three months ended June 30, 2022

112,880,090 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

-1-

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, 2023, the outlook for the Japanese economy such as
geopolitical risks and the impact of foreign exchange rates still continued to be uncertain, although theimpact of the COVID-19 pandemic has eased and the high domestic prices of petroleum products,
electricity and other energy caused by elevated resource prices have begun to settle.
Under these conditions, at the Itochu Enex Group, we have newly formulated our medium-termbusiness plan “ENEX2030” in April 2023.
Overview of medium-term business plan
1. Name of the plan:

2. Period:

Eight years (FY2023 to FY2030)

3. Overview of the Medium-Term Business Plan, ENEX2030:
1) Desired direction(i)Strengthening onsite capabilities‧ Enhancing the customer base and improving earnings capabilities in existing business‧ Improving Group communication, building comprehensive strength, strengthening onsite capabilities(ii) Accelerating investment‧ Accelerating investment by developing a framework for promoting investment‧ Making new and strategic investment of ¥210.0 billion
2) Management targets(Financial Indicators)(1) Net profit: ¥20.0 billion or more, (2) Substantive operating cash flows(*1): ¥45.0 billion, (3)ROE: 9.0% or more, (4) New / strategic investments (8-year total): ¥210.0 billion(Non-financial Indicators)(1) GHG emissions: 50% reduction or more (comparison with FY2018, Scopes 1 and 2), (2) Ratioof female hires: 30% or above, (3) Percentage of female managers: 10%, (4) Ratio of childcare
leave taken by male employees: 80% or more
4. Overview of the Medium-Term Business Plan, ENEX2030 ’23-’24 (2023-2024)
1) Positioning: Developing a framework for achieving growth strategies by strengthening onsite
capabilities and revenue base, in preparation for realization of the 2030 Vision
2) Main initiatives: (i) Bolstering onsite capabilities (ii) Developing a framework for making
investment (iii) Strengthening organizations and human resources-2-3) Management targets(Financial Indicators)(1) Net profit (FY2023/FY2024): ¥13.5 billion, (2) Substantive operating cash flows: ¥35.0 billion
each fiscal year, (3) ROE (FY2023/FY2024): 8~9%, (4) Total amount of investments: ¥60.0
billion (of which CAPEX, ¥1.6 billion)(Shareholder returns)
Enex will pay progressive dividends with a strong emphasis on a consolidated dividend payout
ratio of 40% or more.
(*1) Substantive operating cash flows excludes working capital, etc. from cash flows from operating activities.

Under the new medium-term business plan described above, we have promoted our business. The
operating results for the three months ended June 30, 2023 are as follows.
(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

245,353214,743(30,610)

Profit from operating activities

5,696

9,246

3,550

Net profit attributable to Itochu Enex’s
shareholders

4,442

5,139

697

Revenue

ChangeRevenue was ¥214,743 million (down 12.5% year on year). This was mainly due to a decrease in
selling prices resulting from lower crude oil and LP gas prices.
Profit from operating activities was ¥9,246 million (up 62.3% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥5,139 million (up 15.7% year on year). This was mainly due to solid
performance of the car dealer business in the Car-Life Division and a one-time profit from the sale ofa large-scale solar power plant (mega solar power plant) (¥5,019 million impact on profit fromoperating activities), despite the negative impact on profit margins from changes in unit inventory
prices due to the decline in LP gas import prices in the Home-Life Division.
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, 2022

Three months ended
June 30, 2023

19,607

15,703(3,904)

Profit (loss) from operating activities

410

(35)

(445)

Net profit (loss) attributable to Itochu Enex’s
shareholders

931

(489)

(1,420)

Revenue

ChangeLP gas business: The number of customers under direct LP gas supply contracts increased byapproximately 2,000 from the end of the previous fiscal year to approximately 567,000 as a result of
acquiring new customers and sales rights in the LP gas business. LP gas sales volume decreasedslightly year on year due to the impact of higher average temperatures year on year.

-3-

The operating results for the three months ended June 30, 2023 are as follows.
Revenue was ¥15,703 million (down 19.9% year on year). This was mainly due to a widening price gap
between the first quarter of the current fiscal year and the same period of the previous fiscal year, as
selling prices linked to LP gas import prices trended downward in the first quarter of the current fiscal
year, while they were on an upward trend in the same period of the previous fiscal year.
Loss from operating activities was ¥35 million (down 108.5% year on year). Loss attributable to Itochu
Enex’s shareholders was ¥489 million (down 152.5% year on year). This was mainly due to the impact
on profit margins from changes in unit inventory prices resulting from the decline in LP gas importprices.
Car-Life Division(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

132,133

139,218

7,085

Profit from operating activities

1,773

2,056

283

Net profit attributable to Itochu Enex’s shareholders

1,039

1,045

6

Revenue

Change

Car-Life Stations (CS)(*2) business: The number of CS was 1,602, a decrease of eight compared withthe end of the previous fiscal year. Sales volumes of petroleum products increased year on year as
demand for petroleum products showed a recovery trend due to the easing of the impact of the COVID19 pandemic.
Automotive business: Our car dealer business subsidiary OSAKA CAR LIFE GROUP CO., LTD.
experienced a decrease in overall sales volume year on year due to a decrease in used car sales volume,
despite strong new car sales volume.
The operating results for the three months ended June 30, 2023 are as follows.
Revenue was ¥139,218 million (up 5.4% year on year). This was mainly due to an increase in sales
volumes of petroleum products.
Profit from operating activities was ¥2,056 million (up 16.0% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥1,045 million (up 0.6% year on year). This was mainly due to strong
sales of new models in the car dealer business, which absorbed a narrowing of margins in the CS retailbusiness.
(*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, 2022

Three months ended
June 30, 2023

Revenue

71,21632,111(39,105)

Profit from operating activities

2,023

965

(1,058)Net profit attributable to Itochu Enex’s shareholders

1,401

699

(702)

ChangeMarine fuel sales business: Sales volumes decreased year on year due to a partial reduction intransactions for ocean-going vessels.

-4-

Environmental businesses: Sales volumes of AdBlue®(*3) increased year on year due to steady progressin developing sales channels.
Corporate fleet fuel card business: Sales volumes increased year on year due to progress in new
customer development.
The operating results for the three months ended June 30, 2023 are as follows.
Revenue was ¥32,111 million (down 54.9% year on year). This was mainly due to decreases in selling
prices and sales volumes resulting from lower crude oil prices.
Profit from operating activities was ¥965 million (down 52.3% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥699 million (down 50.1% year on year). This was mainly due to therebound of the marine fuel sales business and distribution terminal business, which were strong in thesame period of the previous fiscal year, despite the strong performance of the industrial gas sales
business.
(*3)

AdBlue® is a world-standard High-Grade Aqueous Urea used in the decomposition and detoxification of diesel
exhaust. (AdBlue® is a registered trademark of Verband der Automobilindustrie e.V. (VDA).)Power & Utility Division(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Revenue

22,397

27,711

5,314

Profit from operating activities

1,387

6,135

4,748

Net profit attributable to Itochu Enex’s shareholders

1,022

3,853

2,831

ChangeElectricity power retail business: Although sales volume in low-voltage sales increased year on year
due to the acquisition of new contracts, total sales volume decreased year on year(*4) due to a focus on
profitability management in high-voltage sales. The number of customers for electricity retail for theentire Group was 324,000 (down approximately 10,000 year on year).
Heat supply business(*5): Heat sales volume decreased slightly lower year on year due to a decrease in
air conditioning use in conjunction with a more frugal mindset despite higher average temperatures
year on year.
The operating results for the three months ended June 30, 2023 are as follows.
Revenue was ¥27,711 million (up 23.7% year on year). This was mainly due to an increase in selling
prices in response to a rapid rise in resource prices.
Profit from operating activities was ¥6,135 million (up 342.3% year on year). Net profit attributable to
Itochu Enex’s shareholders was ¥3,853 million (up 277.0% year on year). This was mainly due to a
one-time profit from the sale of a large-scale solar power plant (mega solar power plant) (¥5,019
million impact on profit from operating activities).
(*4) Electricity sales volume includes brokerage volume for both high voltage and low voltage.
(*5) 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, 2023

As of June 30, 2023

ChangeTotal assets

433,024

406,312(26,712)

Total liabilities

252,696

223,150(29,546)

Total equity

180,328

183,162

2,834

Total assets amounted to ¥406,312 million as of June 30, 2023, a decrease of ¥26,712 million from March
31, 2023. This was mainly due to a decrease in trade receivables of ¥23,394 million due to seasonal items.
Total liabilities amounted to ¥223,150 million, a decrease of ¥29,546 million from March 31, 2023. Thiswas mainly due to a decrease in trade payables of ¥17,759 million due to seasonal items, as well as adecrease in bonds and borrowings of ¥11,087 million. Total equity totaled ¥183,162 million, an increaseof ¥2,834 million from March 31, 2023, due to factors including an increase of ¥5,139 million from net
profit attributable to Itochu Enex’s shareholders and a decrease of ¥3,390 million by payment of cash
dividends.
Cash flows
The Group maintained an operating structure capable of aggressively promoting investment to expand
peripheral businesses and develop new business areas, using the cash flow generated from its corebusinesses.
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 negative 0.21 times.
(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Cash flows from operating activities

3,995

8,733

4,738

Cash flows from investing activities(3,599)13,323

16,922[Free cash flows][396][22,056][21,660]

Cash flows from financing activities

3,345(17,688)(21,033)

Net increase (decrease) in cash and cash
equivalents

3,741

4,368

627

40

56

16

41,92636,437(5,489)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 ¥36,437 million as of June 30, 2023, up ¥4,424 million fromMarch 31, 2023.

-6-

Cash flows from operating activities(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Cash flows from operating activities

3,995

8,733

4,738

Changes in working capital and others(4,713)

3,375

8,088

Substantive operating cash flow(*6)

8,708

5,358

(3,350)(*6)

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

Operating activities provided net cash of ¥8,733 million. Major items included profit before tax of ¥8,519
million, depreciation and amortization of ¥5,233 million, loss from tangible assets, intangible assets andgoodwill of ¥5,106 million, and income taxes paid of ¥4,863 million. Cash flows from operating activities
increased by ¥4,738 million year on year. Moreover, real operating cash flow decreased ¥3,350 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.
Investing activities provided net cash of ¥13,323 million. This was mainly due to payments for purchaseof property, plant and equipment and investment property of ¥2,350 million, proceeds from sales ofproperty, plant and equipment and investment property, mainly a large-scale solar power plant (mega solar
power plant) of ¥25,271 million, and payments resulting from an increase in deposits paid of ¥10,000
million. Cash flows from investing activities increased by ¥16,922 million year on year.
Cash flows from financing activities
The Group aims to streamline Group-wide financing activities to enhance our corporate value, and isstrengthening financial management through the Group Financial System(*7).
Financial activities used net cash of ¥17,688 million. This was mainly due to repayments of bonds andborrowings of ¥10,671 million, repayments of lease liabilities of ¥2,799 million, and cash dividends paid
to Itochu Enex’s shareholders of ¥2,938 million. Cash flows from financing activities decreased by¥21,033 million year on year.
(*7)

The Group Financial System streamlines fund management and procurement costs by sharing funds within theGroup.

-7-

2.

Condensed Quarterly Consolidated Financial Statements and Significant Notes
Thereto(1) Condensed Quarterly Consolidated Statement of Financial Position
As ofMarch 31, 2023
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, 2023

32,013
115,920
14,251
26,176
100
907
1,774

36,437
92,52625,131
30,383
868
175
1,987

191,141

187,507

31,762
3,442
11,508
149,920
12,732521
20,2379,354
2,407

30,2693,635
8,975
127,722
13,160521
21,099
11,964
1,460

241,883

218,805

433,024

406,312

As ofMarch 31, 2023
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, 2023

7,026
114,818
10,415
5,134
4,748
11,031
12,951

2,540
97,059
9,577
9,483
2,534
11,64912,805

166,123

145,647

7,101
47,263
15,454
10,344
759
5,515
137

500
45,705
15,117
10,391
805
4,844
141

Total non-current liabilities

86,57377,503

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

252,696

223,150

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

19,87819,014
115,899
66(1,896)

19,87819,014
118,024636(1,896)

Total shareholders’ equity

152,961

155,656

27,36727,506

180,328

183,162433,024

406,312

Non-controlling interests
Total equity
Total liabilities and equity-9-(2) Condensed Quarterly Consolidated Statement of Comprehensive Income
Three months ended
June 30, 2022

(Millions of yen)Three months ended
June 30, 2023

Revenue
Cost of sales

245,353(222,979)

214,743(193,611)

Gross profit

22,374

21,132Other income and expense
Selling, general and administrative expenses
Loss from tangible assets, intangible assets and goodwill
Other – net(16,710)(20)
52(17,146)
5,106
154(16,678)(11,886)

Profit from operating activities

Total other income and expense

5,696

9,246

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

7
25
(215)
4

18
75
(194)
(361)

Total financial income and costs

(179)

(462)

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 -

1,332

(265)

6,849

8,519

(1,893)(2,789)

4,956

5,730

4,442
514

5,139
591

4,956

5,730

Three months ended June30, 2022(Millions of yen)Three months ended June30, 2023

(24)

198

(17)

90

20
–

20
201

446

(15)

425

494

Comprehensive income

5,381

6,224

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

4,866
515

5,633
591

5,381

6,224

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
Total other comprehensive income, net of tax effect

Total

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

39.35
–

45.54
–

(3) Condensed Quarterly Consolidated Statement of Changes in Equity
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

109

–

–

(0)

(0)

(0)

(1,871)

146,338

25,900172,238

Three months ended June 30, 2023
(Millions of yen)
Shareholders’ equity

Balance at April 1, 2023

Noncontrollinginterests

Total equity

152,961

27,367

180,328

5,139

591

5,730

Commonstock

CapitalsurplusRetainedearnings

Other
componentsof equity

Treasury
stock

Total
shareholders’equity19,87819,014

115,899

66(1,896)

Net profit

5,139

Other comprehensive
incomeComprehensive income

5,139

494

494

494

494

5,633

591

6,224

(2,938)(452)(3,390)Transactions with owners
Cash dividends(2,938)Transfer from othercomponents of equity toretained earnings

(76)

76

Purchase and disposal oftreasury stock
Balance at June 30, 2023

19,87819,014

118,024- 12 -

636

–

–

(0)

(0)

(0)

(1,896)

155,656

27,506

183,162(4) Condensed Quarterly Consolidated Statement of Cash Flows(Millions of yen)Three months ended
June 30, 2022
Cash flows from operating activities
Profit before tax
Depreciation and amortization
Loss (gain) from tangible assets, intangible assets and goodwill
Financial income and costs
Share of loss (profit) of investments accounted for by the equity
methodDecrease in trade receivables
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
Increase in deposits paid – net
Other – net
Net cash flows provided by (used in) investing activities- 13 -

Three months ended
June 30, 2023

6,849
5,570
20
179

8,519
5,233
(5,106)462(1,332)

265

16,359(1,673)(16,479)(2,920)585
7(229)(2,941)

23,417(4,202)(17,781)
1,941
984
17
(153)
(4,863)

3,995

8,733

(419)

(400)

28

25

(264)
240

(124)
49

(3,636)(2,350)74

25,271

(460)
1
–
837

(1,788)250(10,000)
2,390(3,599)13,323

(Millions of yen)Three months ended
June 30, 2022
Cash flows from financing activities
Repayments of bonds and borrowings
Repayments of lease liabilities
Net increase (decrease) in short-term borrowings
Cash dividends paid to Itochu Enex’s shareholders
Cash dividends paid to non-controlling interests
Purchase of treasury stock
Other – net
Net cash flows provided by (used in) financing activities

Three months ended
June 30, 2023

(10,002)(2,834)
20,522(2,825)(1,516)(0)–(10,671)(2,799)(444)(2,938)
(452)
(0)
(384)

3,345

(17,688)

Net increase in cash and cash equivalents

3,741

4,368

Cash and cash equivalents at the beginning of the period

38,14532,013

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

40

56

41,92636,437

(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, 2022
(Millions of yen)
Reportable segment
Home-Life
Division

Car-Life
Division

Industrial
Business
Division

Power &
Utility
Division

Total

Revenue from externalcustomers

19,607132,133

71,21622,397

Intersegment revenue

19

2,326

2,518

Total revenue

19,626

134,459

4,465

Adjustment

Consolidated

245,353–

245,353

380

5,243

(5,243)–73,734

22,777

250,596(5,243)245,353

11,351

3,728

2,830

22,374–

22,374

410

1,773

2,023

1,387

5,593

103

5,696

1,329

1,718

2,024

1,693

6,764

85

6,849

931

1,039

1,401

1,022

4,393

49

4,442

63,943

154,834

71,053

115,341

405,171

35,613440,784

Revenue

Gross profit
Profit from operating
activities
Profit before tax
Net profit attributable to
Itochu Enex’s shareholders
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.

- 15 -

Three months ended June 30, 2023
(Millions of yen)
Reportable segment
Home-Life
Division

Car-Life
Division

Industrial
Business
Division

Power &
Utility
Division

Total

Revenue from externalcustomers

15,703

139,218

32,111

27,711

Intersegment revenue

167

2,106

1,126

Total revenue

15,870141,324

3,820

Profit (loss) from operating
activities

Adjustment

Consolidated

214,743–

214,743

151

3,550

(3,550)–33,237

27,862

218,293(3,550)214,743

12,021

2,530

2,761

21,132–

21,132

(35)

2,056

965

6,135

9,121

125

9,246

Profit (loss) before tax

(490)

2,011

1,018

5,866

8,405

114

8,519

Net (loss) profit
attributable to Itochu
Enex’s shareholders

(489)

1,045

699

3,853

5,108

31

5,139

61,856

164,905

56,134

90,348373,243

33,069406,312

Revenue

Gross profit

Other items
Total assets(Note)

Intersegment transactions have been decided by reference to the market price.
The adjustment of ¥31 million to net profit attributable to Itochu Enex’s shareholders represents corporate profit(loss) not allocated to reportable segments.
The adjustment of ¥33,069 million to total assets represents corporate assets not allocated to reportable segments.

As of March 31, 2023
(Millions of yen)
Reportable segment

Total assets(Note)

Home-Life
Division

Car-Life
Division

Industrial
Business
Division

Power &
Utility
Division

Total

69,824

163,242

57,633

114,113404,812Adjustment

Consolidated

28,212433,024

The adjustment of ¥28,212 million to total assets represents corporate assets not allocated to reportable segments.

Change in reportable segments
The Company transferred management of ITOCHU INDUSTRIAL GAS Co., Ltd., which was a subsidiaryof the Company, to the Industrial Business Division in the third quarter of the previous fiscal year. In
conjunction with these changes, the Group changed the method to include the business of ITOCHU
INDUSTRIAL GAS Co., Ltd., which was previously included in the Home-Life Division, in the Industrial
Business Division.
Furthermore, in the first quarter of the current fiscal year, due to changes in commercial distribution andother factors, the Company reviewed the method of classifying its reportable segments and changed theclassification of certain petroleum-related transactions that were included in the Industrial Business
Division to the Car-Life Division and the classification of LNG-related transactions that were included in
the Car-Life Division to the Industrial Business 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 -