Corporate Brochure 2015

Transcription

1 Corporate Brochure 2015

2 Corporate Profile The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years. With approximately 130 bases in 65 countries (included Japan), ITOCHU, one of the leading sogoshosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, information and communications technology, machinery, energy, metals, minerals, chemicals, forest products, general merchandise, food, construction, realty, finance, insurance, and logistics services, as well as business investment in Japan and overseas. Company Name : ITOCHU Corporation Founded : 1858 Incorporated : December 1, 1949 Representative : Masahiro Okafuji, : President & Chief Executive Officer Headquarters : Tokyo / Osaka Common Stock : \253.4 billion Net profit attributable to ITOCHU : \300.6 billion (FY2015) Number of Group Companies : 342 (including overseas trading subsidiaries)(march 31,2015) Number of Employees : 4,364 ( Non-consolidated ) Website : < TOKYO > < OSAKA> *As of Apr. 1,

3 ITOCHU Mission and Values ITOCHU Group s corporate philosophy consists of the ITOCHU Mission and the ITOCHU Values. ITOCHU Mission 2

4 ITOCHU Mission and Values ITOCHU Values 3

5 Corporate Message Statement Mistake me not for just any ordinary person. I am one with countless missions. My workplace is the entire world. I engage in business across borders, touching people s lives and creating new lifestyles. Through my business, I bring about a brighter tomorrow for all around me. I dedicate myself to our common future, mindful of my responsibility to promote the prosperity of all earthly beings. In the end, I believe this leads to my own betterment. I am Itochu, with infinite missions around the world. 4

6 ITOCHU History 1858 ITOCHU's founder, Chubei Itoh, commenced linen trading operations. (ITOCHU Corporation founded) 1893 Chubei Itoh establishes Itoh Itomise (Thread and Yarn Store), to which ITOCHU traces its roots C.Itoh Co., Ltd. established The Company lists on the Osaka Securities Exchange and the Tokyo Stock Exchange The Chinese government welcomes C. Itoh as a friendly trading company The Company acquires Ataka & Co., Ltd., a sogo Itoh Itomise (Thread and Yarn Store) shosha involved primarily in steel-related business The Company announces a new English name (ITOCHU Corporation) and a new corporate logo Division Company system introduced. ITOCHU becomes the first sogo shosha to receive environmental certificate ISO The Company announces the ITOCHU Mission, Values & 5 self-tests The Company posted consolidated net income of over 300 billion yen The Company formulated the Corporate Message, "I am One with Infinite Missions." 2015 Strategic alliance and capital participation with CITIC Limited (China) and Charoen Pokphand Group Company Limited (Thailand). The Company launches its new medium-term management plan Brand-new Deal 2017: Challenge. 5

7 Organization General Meeting of Stockholders Board of Corporate Auditors, Corporate Auditors Corporate Auditors Office Board of Directors President & C.E.O. HMC: Headquarters Management Committee CSO: Chief Strategy Officer CAO: Chief Administrative Officer CFO: Chief Financial Officer HMC Executive Officers Meeting Internal Audit Div. Secretariat CSO CRE Dep. CP & CITIC Business Development Dep. Corporate Planning & Administration Div. Research & Business Development Div. IT Planning Div. Domestic Offices Overseas Offices CAO Human Resources & General Affairs Div. Corporate Communications Div. Legal Div. CFO Investor Relations Dep. Finance Div. General Accounting Control Div. Global Risk Management Div. Executive Advisory Officer for Kansai District Operation Textile Company Apparel Div.1 Apparel Div.2 Brand Marketing Div. 1 Brand Marketing Div. 2 Machinery Company Plant Project, Marine & Aerospace Div. Automobile Div. Construction Machinery & Industrial Machinery Div. Metals & Minerals Company Steel Business Coordination Dep. Metals & Mineral Resources Div. Coal, Nuclear Fuel & Solar Div. Energy & Chemicals Company Energy Div. Chemicals Div. Food Company Provisions Div. Fresh Food Div. Food Products Marketing & Distribution Div. ICT, General Products & Realty Company Forest Products & General Merchandise Div. ICT Div. Construction, Realty & Logistics Div. Financial & Insurance Business Department *As of Apr. 1,

8 Global Network Overseas Offices Offices: 9 Domestic, 113 Overseas *Number of offices (Number of countries / excluded Japan) Europe 15 (13) CIS 8 (6) North America East Asia 11 (3) 21 (4) Africa 6 (6) ASEAN South West Asia 22 (11) Oceania 4 (1) Latin America 10 (8) Middle East 16 (12) (Offices:As of Apr. 1, 2015) 7

9 Subsidiaries & Associates Textile Company - SANKEI CO., LTD. - LEILIAN CO., LTD - EDWIN CO., LTD. - JAVA HOLDINGS CO., LTD. - JOI X Corporation - ITOCHU Textile Prominent (ASIA) Ltd. - ITOCHU TEXTILE (CHINA) CO., LTD Machinery Company - ITOCHU Plantech Inc. - ITOCHU AVIATION CO., LTD. - JAPAN AEROSPACE CORPORATION - YANASE & CO., LTD. - ITOCHU Automobile Corporation - ITOCHU Construction Machinery Co., Ltd. - Toyo advanced Technologies Co., Ltd. - ITOCHU MACHINE-TECHNOS CORPORATION - ITOCHU SysTech Corporation - Century Medical, Inc. - JAMCO Corporation - Century Tokyo Leasing Corporation - SUNCALL CORPORATION - ITOCHU Automobile America Inc. Metals & Minerals Company - ITOCHU Metals Corporation - Marubeni-Itochu Steel Inc. - Brazil Japan Iron Ore Corporation - ITOCHU Mineral Resources Development Corporation - ITOCHU Minerals & Energy of Australia Pty Ltd. Energy & Chemicals Company - ITOCHU Enex Co., Ltd. - ITOCHU CHEMICAL FRONTIER CORPORATION - ITOCHU PLASTICS INC. - C.I. Kasei Co., Ltd. - ITOCHU Oil Exploration (Azerbaijan) Inc. - ITOCHU PETROLEUM CO., (SINGAPORE) PTE. LTD. - TAKIRON CO., LTD. Food Company - ITOCHU SHOKUHIN Co., Ltd. - NIPPON ACCESS, INC. - Japan Foods Co., Ltd. - FUJI OIL CO., LTD. - FamilyMart Co., Ltd. - Prima Meat Packers, Ltd. - Dole International Holdings ICT, General Products & Realty Company - ITOCHU Kenzai Corporation - ITOCHU Pulp & Paper Corporation - DAIKEN CORPORATION - ITOCHU Techno-Solutions Corporation - CONEXIO Corporation - ITOCHU Property Development, Ltd. - ITOCHU URBAN COMMUNITY LTD. - ITOCHU LOGISTICS CORPORATION - ITOCHU Orico Insurance Services Co., Ltd. - Orient Corporation Overseas trading subsidiaries - ITOCHU INTERNATIONAL INC. (U.S.A.) - ITOCHU Europe PLC (U.K.) - ITOCHU HONG KONG LTD. - ITOCHU (CHINA) HOLDING CO., LTD. - ITOCHU AUSTRALIA LTD. 8

10 Financial Statements Consolidated Balance Sheet and Profit / Loss Statement For the fiscal year ended March 31, 2015 (April 1, 2014 March 31, 2015) (Unit: billion yen, (losses, decrease)) B/S P/L *IFRS Total current assets 4,138.0 Total non-current assets 4,422.7 Total assets 8,560.7 Total current liabilities 2,846.5 Total non-current liabilities 2,965.9 Total shareholders equity 2,433.2 Non-controlling interests Revenues 5,591.4 Total trading transactions* 14,649.4 Gross trading profit 1,089.1 Trading income* Net profit Net profit attributable to non-controlling interests (4.9) Net profit attributable to ITOCHU Total other comprehensive income for the year, net of tax Total comprehensive income for the year Total comprehensive income attributable to non-controlling interests (1.0) Total liabilities and equity 8,560.7 Total comprehensive income attributable to ITOCHU * Total trading transactions and Trading income are presented in accordance with Japanese accounting practice. - Total trading transactions in the consolidated statements of income consists of sales with respect to transactions in which the companies act as principal and the total amount of transactions in which the companies act as agent. - Trading income = Gross trading profit + Selling, general and administrative expenses + Provision for doubtful receivables. 9

11 FY Medium-Term Management Plan Goals Build a solid earning base to generate \400 billion net profit by progressing a growth strategy especially focused on non-resource sectors. Pursue to consistently exceed ROE of13%, whilst further accumulating Stockholders Equity. Basic Policies Strengthen Our Financial Position Build solid earning base to generate \400 billion level net income Accelerate Asset Replacement Stringent Cash Flow Management Progress Cooperation with Strategic Partners Further Reinforcement of the Non-Resource Sector Accelerate asset replacement to further improve quality and income efficiency of assets. Observe investment discipline to promptly realize positive Free Cash Flow. Further sophisticate corporate management with focus on cost of capital. Expand operating capabilities and business areas in China and the Asian region, by maximizing synergetic benefits from the strategic alliance with CITIC and CP Group. Further strengthen the earning base utilizing the superiority and business strength in the non-resource sector. Increase profitability by expanding existing business and proceeds from new projects. Investment Policies Aggressively pursue synergetic profit derived from the strategic alliance with CITIC and CP Group, especially in China and Asian regions. Cap new investments to be made only within the aggregate amount generated by core operating cash flow (*1) and withdrawal from existing projects. Consecutively generate in excess of \100 billion of positive core free cash flow (*2) each fiscal year. (*1) Operating Cash Flow - increase/decrease of working capital (*2) Exclude investment into CITIC Limited and increase/decrease of working capital 10

12 FY Medium-Term Management Plan FY2016 Quantitative Plan P/L FY2015 Annual Result FY2016 Plan Gross trading profit 1, ,100.0 Trading Income Equity in earnings of associates and joint ventures Net profit attributable to ITOCHU B/S FY2015 Annual Result FY2016 Plan Total assets 8, ,200.0 Net interest bearing debt 2, ,900.0 Total shareholder s equity 2, ,600.0 NET DER 0.98 times 1.1 times ROE 13.4% 13.1% 前提条件 Exchange rate (YEN / US$) Interest (%) YEN TIBOR (\) Crude Oil (US$ / BBL) (Unit: billion yen) FY2015 Annual Result % 86 FY2016 Plan % 60 FY2016 Net Income attributable to ITOCHU by segments (Unit: billion yen) FY2015 (Result) FY2016 (Plan) Textile Machinery Metals & Minerals Energy & Chemicals Food ICT, General Products & Realty Adjustment & Eliminations and others (Unit: billion yen) (108%) ( )Excluding others (- 8%) FY2015 Non-Resource 43.0 (13%) (87%) FY2016 Resource Dividend Policy Under the Brand-new Deal 2017, during the next 3 years from FY2016, we will seek to annually surpass our record high dividends. In order to achieve the above, whilst continuing our current dividend policy of a payout ratio of 20% for Net profit attributable to ITOCHU up to billion and approximately 30% on the portion of Net income attributable to ITOCHU exceeding billion, we will guarantee a minimum dividend per share of 50 for FY2016, 55 for FY2017 and 60 for FY

13 Our Business Textile Company The Textile Company consists of four divisions: the Apparel Division 1, the Apparel Division 2, the Brand Marketing Division 1, and the Brand Marketing Division 2, and develops businesses in a wide range of fields from raw materials to finished products, and from fashion to non-fiber materials. We are proud to be the leading Japanese general trading company in the textile field. Raw Materials / Industrial Materials Fiber, raw materials, textile fabrics, lining, garment materials, and functional materials. All kinds of fiber materials for industry and manufacturing, such as automobiles, aircraft, electronics, building materials, and engineering, as well as general merchandise. Apparel All types of garments from men's and women's fashion, shirts, denim, underwear, sports wear and uniforms. Brand Business Businesses focusing on import licenses for lifestyle brands, fashion accessories and garments in a wide range of areas, such as luxury, casual and sports. 12

14 Our Business Machinery Company The Machinery Company consists of three divisions: the Plant Project, Marine & Aerospace Division, the Automobile Division, and the Construction Machinery & Industrial Machinery Division. We develop businesses in a wide range of fields: electric power generation, petrochemicals, bridges, railways and other infrastructure related projects, aircraft, ships, automobiles, construction machinery, industrial machinery and other businesses related to machinery, and healthcare businesses. In addition, we are proactively seeking new opportunities such as water and environment business, renewable energy business, for the creation and reinforcement of new revenue bases. Plant Project, Marines & Aerospace Electric power generation, Oil, gas and petrochemical plants, Water and environment related businesses, Transportation infrastructure, New ships, Second-hand ships, Ship finance, Ship owning, Chartered ships, Defense equipment, Aircraft, Aircraft lease Automobile Sales and business development of passenger cars, commercial vehicles and manufacturing parts in domestic and international markets Construction Machinery, Industrial Machinery & Healthcare Sales and business development of construction machinery, electronic system, industrial machinery and medical devices in domestic and international markets 13

15 Our Business Metals & Minerals Company The Metals & Minerals Company consists of two divisions -- the Metals & Mineral Resources Division and the Coal, Nuclear Fuel & Solar Division -- and one department, the Steel Business Coordination Department. The Metals & Mineral Resources Division operates a large supply chain consisting of operations of large-scale iron ore and aluminum projects; development of mineral resources such as minor metals and base metals, and trades in iron ore and non-ferrous metal products. The Coal, Nuclear Fuel & Solar Division contributes to sustainable supply for electric power and steel industries, through developments and trades in thermal and coking coals. It develops coal and uranium mines and trades on a global scale. The Division also develops and trades in new fuels for power generation, including biomass, and is involved in the trading of emission credits. The solar power generation business is another important segment in the Coal, Nuclear Fuel & Solar Division. The Division is consequently active within the extensive sphere of worldwide electric power and power generation. The Steel Business Coordination Department is exploring ways to develop synergies with Marubeni-Itochu Steel Inc. The activities of the Metals & Minerals Company contribute to the stable supply of mineral resources to Japan and the world and to the development of the global economy and environmental initiatives. Metals & Mineral Resources Iron ore, Pellet, Direct reduced iron, Non-ferrous metals, Minor metals, Rare earth metals, Base metals, Aluminum, Alumina, Ferro alloy and its materials Coal, Nuclear Fuel & Solar Coking coal, Coke, Thermal coal, Biomass, Emission credits, Solar power generation businesses Steel & Non-Ferrous Products Steel plates, Hot & cold rolled sheets, Galvanized steel, Steel for machinery, Stainless steel, High tensile steel, Various specialty steel materials, Construction materials, Welded steel pipes, Seamless steel pipes, Steel wires, Marine steel structures, Bridges, Prefabricated steel for buildings, Rails, Non-ferrous/light metal products, Aluminum rolled products, Aluminum extrusion products, Electric wires, Optical fiber cables, Electronic materials and products, Steel scrap, Pig iron, Metal powder, Electrodes, Activated carbon 14

16 Our Business Energy & Chemicals Company The Energy & Chemicals Company consists of 2 divisions: the Energy Division and the Chemicals Division. The Energy Division handles trading of general energy-related products, including crude oil, petroleum products, LPG, LNG, natural gas, and electricity as well as promoting related projects. This Division also promotes exploration, development and production of oil & gas projects. The Chemicals Division handles trading and promotes projects for a wide range of products such as organic chemicals, inorganic chemicals, pharmaceuticals, synthetic resin, fine chemicals and electronic materials. We create synergies among these globally-operating divisions by optimizing the value chain in petroleum, gas, and chemicals, in an effort to enrich the lives of people in both Japan and around the world. Energy Crude oil, Natural gas liquid (NGL), Gasoline, Naphtha, Kerosene, Jet fuel, Gas oil, Fuel oil, Bunker oil, Lubricant, Asphalt, Liquefied petroleum gas (LPG), Liquefied natural gas (LNG), Natural gas, Electricity, etc. Chemicals Raw materials for synthetic fibers, Aromatics, Alcohol, Sulfur, Fertilizer, Inorganic mineral resources, Pharmaceuticals, Synthetic resin, Household goods, Packing materials, Fine chemicals and Electronic materials, etc. 15

17 Our Business Food Company The Food Company consists of three divisions: the Provisions Division, the Fresh Food Division, and the Food Products Marketing & Distribution Division. The goal of this division company is to become the leading company in the global food industry. Accordingly, the Food Company globally advances and develops Strategic Integrated System (SIS) strategies that realizes efficient, customer-driven production, distribution, and sales by organically linking food resources development, food resources supply, product processing, midstream distribution, and retail. Further, throughout that system we are upgrading controls for food safety even further to ensure trust and reliability. Food Resources We procure foodstuffs such as grains, ingredients for animal feed, oilseeds, vegetable oil, sugar, fruit juice, coffee beans, dairy products and livestock products from North America, Asia, Australia, Central and South America, for countries worldwide with its focus on Japan and Asia. Product Processing We are stepping up initiatives in production and processing through group companies. As well as making use of the strengths of the trading company in procuring ingredients, we also cooperate in marketing. Midstream Distribution We respond to diversifying needs by owning top-class food wholesalers such as ITOCHU Shokuhin Co., Ltd. and NIPPON ACCESS, wholesalers of fresh foods, and wholesalers having major food service chains and catering chains as their clients. Retail Through associations with FamilyMart, and other retailers, we are building an efficient and functional value chain from product development and manufacturing to supply and procurement of ingredients based on the SIS strategy, with customer needs as the starting point. 16

18 Our Business ICT, General Products & Realty Company The ICT, General Products & Realty Company consists of four divisions: the Forest Products & General Merchandise Division, the ICT Division, the Construction, Realty & Logistics Division, and the Financial & Insurance Business Division. With our broad range of business, our company stands out by developing comprehensive global business solutions for many different customers, in both industrial and consumer markets. Coordinating these four divisions with a high degree of synergy is another important strategy. Forest Products & General Merchandise Logs, Lumber, Wood fiberboard, Building materials, Wood chips, Wood pulp, Recycled paper, Cotton linter, Paper, Paperboard, Paper products, Natural rubber, Tires, Glass, Cement, Slag, Landscape materials, Refractory materials and products, Natural gypsum, Biomass fuels (chips, pellets) etc. ICT IT Solutions, Internet related services, Green technology businesses, Venture capital, Mobile telephone equipment and service, Broadcasting and communications, Entertainment and content business, BPO business, Clinical development and sales support of pharmaceuticals, Outsourcing services for healthcare and preventive medicine Construction, Realty & Logistics Real Estate Development, Solutions Business, Private Finance Initiative (PFI) projects, Construction equipment and materials trading [Subsidiaries: Condominium development, Real estate management, Housing and renovation etc.], Logistics Solutions (3PL, Logistics Center Management Operation, International Intermodal Logistics and Automobile Logistics), Maritime Shipping Services Financial & Insurance Business M&A, Finance for Companies and Projects, Global Retail Finance (Credit Cards, Auto loan, loan), Insurance Brokerage, Reinsurance, Credit Guarantee 17