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1、Fiscal year ended March 31,2024 S Su ummmma ar ry y o of f C Co on ns so ol li id da at te ed d F Fi in na an nc ci ia al l R Re es su ul lt ts s F Fo or r t th he e F Fi is sc ca al l Y Ye ea ar r E En nd de ed d MMa ar rc ch h 3 31 1,2 20 02 24 4 (I IF FR RS S b ba as si is s)(April 1,2023 March 3

2、1,2024)*This document is an English translation of materials originally prepared in Japanese.The Japanese original shall be considered the primary version.（TSE Code:8002）Financial Results Company name:Marubeni Corporation(URL https:/ number:8002Representative:KAKINOKI MasumiPresident and CEO,Member

3、of the BoardInquiries:KOYAMA RyuheiGeneral Manager,Media Relations Sec.,Corporate Communications Dept.TEL +81-3-3282-7670Expected date of annual meeting of shareholders:June 21,2024Expected filing date of annual financial statement report:June 21,2024Expected date of the beginning of delivery of div

4、idends:June 3,2024Supplementary explanations of yearly business results:PreparedIR meeting on financial results:To be held(for institutional investors and analysts)1.Consolidated financial results for the fiscal year ended March 31,2024(April 1,2023-March 31,2024)(Remarks)Figures are rounded to the

5、nearest million.(1)Consolidated business results%:change from the previous fiscal yearFiscal year ended March 31,20242023Fiscal year ended March 31,20242023million yenmillion yen(2)Consolidated financial positionMarch 31,2024March 31,2023(3)Consolidated cash flowsFiscal year ended March 31,20242023F

6、iscal year ended/endingMarch 31,2023March 31,2024March 31,2025(forecast)(Note)(1)Dividend on equity attributable to owners of the parent(Consolidated)is based on Equity attributable to owners of the parent excluding amounts not attributable to ordinary shareholders.(2)The year-end dividend per share

7、 for the fiscal year ending March 31,2024,has been revised from 41.5 yen to 43.5 yen.For the details,please refer to the Notice Regarding Revision of theDividend Forecast and Interim Dividend released by the Company today.May 2,2024Summary of Consolidated Financial Statements for the Fiscal Year End

8、ed March 31,2024(IFRS basis)RevenueOperating profitProfit before taxProfit for the periodProfit attributable toowners of the parentComprehensive incomefor the period(millions of yen)(%)(millions of yen)(%)(millions of yen)(%)(millions of yen)(%)(millions of yen)(%)(millions of yen)(%)482,548(12.7)47

9、1,412(13.2)951,48913.87,250,515(21.1)276,321(18.9)567,136(13.0)552,81927.1543,00128.0835,79328.99,190,4728.0340,81419.8651,74523.3279.62279.2415.26.7316.11315.5822.48.0Earnings per share(basic)Earnings per share(diluted)Profit ratio to equityattributable toowners of the parentProfit before tax ratio

10、to total assets(yen)(yen)(%)(%)Total assetsTotal equityEquity attributable toowners of the parentEquity attributable toowners of the parent ratioEquity per share attributableto owners of the parent(Reference)Share of profits(losses)of associates and joint venturesFiscal year ended March 31,2024311,3

11、98Fiscal year ended March 31,2023286,767(Note)1.Operating profit is presented in accordance with Japanese accounting practice for investors convenience and are not required by IFRS.Operating profit is the sum of Gross trading profit,Selling,general and administrative expenses and Provision for doubt

12、ful accounts stated in Consolidated Statements of Comprehensive Income.2.Earnings per share(basic and diluted)is based on Profit attributable to owners of the parent excluding the amount not attributable to ordinary shareholders.3.Profit ratio to equity attributable to owners of the parent is based

13、on Equity attributable to owners of the parent and Profit attributable to owners ofthe parent,respectively excluding the amounts not attributable to ordinary shareholders.(millions of yen)(millions of yen)(millions of yen)(%)(yen)8,923,5973,562,8463,459,68238.82,066.11Operating activitiesInvesting a

14、ctivitiesFinancing activitiesCash and cash equivalentsat the end of year(millions of yen)(millions of yen)(millions of yen)(millions of yen)7,953,6042,981,9732,877,74736.21,610.81(Note)Equity per share attributable to owners of the parent is based on Equity attributable to owners of the parent exclu

15、ding the amount not attributable to ordinary shareholders.442,469(334,425)(254,172)506,254606,334156,805(766,587)608,917Total2.Dividends informationAnnual dividends per shareTotal amount of cashdividends per annumDividend payout ratio(Consolidated)Dividend on equity attributable toowners of the pare

16、nt(Consolidated)1st Quarter-end2nd Quarter-end3rd Quarter-end4th Quarter-end(%)(%)-37.50-40.5078.00133,03924.75.5(yen)(yen)(yen)(yen)(yen)(millions of yen)-41.50-43.5085.00142,68230.44.631.4-45.00-45.0090.003Consolidated earnings forecast for fiscal year ending March 31,2025(April 1,2024-March 31,20

17、25)(Remarks)%:change from the previous fiscal yearFiscal year endingMarch 31,2025(forecast)*Notes(1)Changes in significant subsidiaries during the period:Yes Excluded companies:Marubeni Aviation Holding Cooperatief U.A.(2)Changes in accounting policies and accounting estimatesChanges in accounting p

18、olicies required by IFRS:NoneChanges other than:NoneChanges in accounting estimate:None(3)Number of issued shares(Ordinary shares)Number of issued shares at the end of the period (Treasury stock is included)Number of treasury stock at the end of the periodAverage number of outstanding shares during

19、the periodFiscal year ended March 31,2024Fiscal year ended March 31,2023(Note)(1)At the meeting of the Board of Directors held on June 23,2023,the Company resolved to issue new shares using monetary remuneration claims paid asrestricted stock compensation as investment assets.As a result,effective J

20、uly 21,2023,the total number of shares issued increased 208,709 shares.(2)Effective August 25,2023 and February 22,2024,the Company retired treasury stock,resulting in a decrease of 13,678,100 shares and 8,628,600 sharesin the total number of shares issued and outstanding respectively.(Reference)Ove

21、rview of non-consolidated business resultsNon-consolidated financial results for fiscal year ended March 31,2024(April 1,2023-March 31,2024)(Remarks)(1)Non-consolidated business results%:change from the previous fiscal yearFiscal year ended March 31,202431,2023Fiscal year ended March 31,202431,2023(

22、2)Non-consolidated financial positionFiscal year ended March31,202431,2023million yenmillion yenThe Summary of Consolidated Financial Statements is not subject to review by certified accountants or audit firms.Descriptions relating to the proper use of earnings forecast and other special notes(Notes

23、 to the description about future)The descriptions about future such as the above earnings forecast are based upon available information and assumptions,as of the time of the announcement date,about uncertain factors which would influence future businesses.Actual results might be influenced materiall

24、y by various factors in the future.For cautionary notes concerning assumptions made in the earnings forecast and use of the earnings forecast,please refer to (How to access supplementary explanations of quarterly business results and the details of IR meeting of financial results)Supplementary expla

25、nations on business results will be made available on the Companys website on Thursday,May 2,2024.The Company is scheduled to hold an IR meeting on financial results for institutional investors and analysts on Wednesday,May 8,2024,and to post the transcript of the meeting together with the materials

26、 used at the briefing on the Companys website at the earliest possible time.March 31,2023Profit attributable to owners of the parentEarnings per share (basic)(millions of yen)(%)(yen)1,698,395,498March 31,20241,915,9052,367,1551,682,516,3731,709,705,857480,0001.8286.67(Note)Earnings per share(basic)

27、is based on Profit attributable to owners of the parent excluding the amount not attributable to ordinary shareholders.March 31,20241,676,297,507March 31,2023RevenueOperating profitOrdinary profitNet profit for the year(millions of yen)(%)(millions of yen)(%)(millions of yen)(%)(millions of yen)(%)1

28、,808,965(19.4)(52,023)-368,4291.6369,1418.9(yen)(yen)339,089711.1Net profit for the year per shareNet profit for the year per share(diluted)2,244,69527.9(39,111)-362,602539.5198.27198.01Total assetsNet assetsEquity ratioNet assets per share219.37219.10p.11 1.Business Review(5)Outlook for the Fiscal

29、Year Ending March 31,2025.(millions of yen)(millions of yen)(%)(yen)3,825,956892,54723.3532.55Fiscal year ended March 31,2023706,8203,327,390707,67921.2416.72(Reference)Total equityFiscal year ended March 31,2024891,7441【Table of Contents of Attached Materials】1.Business Review(1)Business Environmen

30、t2(2)Operating Results3(3)Cash Flows9(4)Financial Position9(5)Outlook for the Fiscal Year Ending March 31,202511 2.Basic Rationale behind Choice of Accounting Principles13 3.Consolidated Financial Statements and Notes(1)Consolidated Statements of Financial Position14(2)Consolidated Statements of Com

31、prehensive Income16(3)Consolidated Statements of Changes in Equity17(4)Consolidated Statements of Cash Flows19(5)Notes Related to Going Concern Assumptions19(6)Segment information20(7)Earnings per Share21(8)Material Subsequent Events21 Marubeni Corporation Consolidated Financial Results 2 1.Business

32、 Review(1)Business Environment The following is an overview of the economic environment for the fiscal year ended March 31,2024.The global economy showed increasing signs of slowdown,as inflation remained above central bank targets in many countries,and tightening monetary policies continued mainly

33、in the U.S.and Europe.In developed countries,the U.S.economy grew at a stable pace while the European economy continued to slow down further.In Japan,domestic and inbound demand recovered with the easing of measures against COVID-19,and capital investment remained steady.In emerging countries,Chinas

34、 economic recovery continued to progress but lacked strength due to factors such as the sluggishness of the real estate market,and the economies,particularly of Asian countries,slowed down.Prices of primary commodities,in comparison to the previous fiscal year,remained generally at low levels due to

35、 falling demand associated with a global economic slowdown.Crude oil prices declined from the previous fiscal year,but a reduction in oil production by oil-producing countries and escalating tensions in the Middle East have led to a rise in prices since the beginning of the year.Prices for copper an

36、d iron ore,of which China is the worlds largest importer,were weighed down by the countrys slow economic recovery but remained generally at the same level as the previous year due to supply concerns.In the U.S.and European bond markets,interest rates rose due to the monetary tightening by central ba

37、nks.The Japanese yen continued to depreciate against the U.S.dollar.Stock market prices remained at high levels in comparison to the previous fiscal year,mainly in Japan,Europe,and the U.S.Marubeni Corporation Consolidated Financial Results 3(2)Operating ResultsUnder the aforementioned business envi

38、ronment,consolidated operating results for the fiscal year ended March 31,2024,are as follows.(Millions of yen)20232024Revenue9,190,4727,250,515(1,939,957)Gross trading profit1,051,2951,065,81814,523Operating profit340,814276,321(64,493)Share of profits(losses)of associates and joint ventures286,767

39、311,39824,631Profit(loss)for the year attributable to owners of the parent543,001471,412(71,589)Fiscal year ended March 31,Variance(Note 1)Figures are rounded to the nearest million yen unless otherwise stated.(Note 2)“Operating profit”is presented in accordance with Japanese accounting practice for

40、 investors convenience and is not required by IFRS.“Operating profit”is the sum of“Gross trading profit,”“Selling,general and administrative expenses”and“Provision for doubtful accounts”stated in Consolidated Statements of Comprehensive Income.Revenue Revenue decreased by 1,940.0 billion yen,or 21.1

41、%year on year,to 7,250.5 billion yen.By operating segment,revenue mainly decreased in Food II due to the sale of Gavilons grain business.Gross trading profit Gross trading profit increased by 14.5 billion yen,or 1.4%year on year,to 1,065.8 billion yen.Main increases and decreases by operating segmen

42、t are the following.-Agri Business:Increase by 27.6 billion yenDue to improvements in the fertilizer wholesale business in the U.S.-Construction,Industrial Machinery&Mobility:Increase by 18.8 billion yenDue to increases in profits from the increased sales volume and others in theautomotive-related b

43、usiness and the construction machinery business.Marubeni Corporation Consolidated Financial Results 4-Metals&Mineral Resources:Decrease by 28.8 billion yenDue to a decrease in profit from the Australian coking coal business caused by decline incommodity prices.Operating profit decreased by 64.5 bill

44、ion yen,or 18.9%year on year,to 276.3 billion yen,due to increased selling,general and administrative expenses.Share of profits(losses)of associates and joint ventures Share of profits(losses)of associates and joint ventures increased by 24.6 billion yen,or 8.6%year on year,to 311.4 billion yen.Main

45、 increases and decreases by operating segment are the following:-Forest Products:Increase by 13.9 billion yenDue to absence of impairment loss on investment in the domestic paper manufacturing andsales business recognized in the previous fiscal year and others.-Power:Increase by 8.5 billion yenDue t

46、o increases in profits from the overseas power generation businesses and others.-Metals&Mineral Resources:Decrease by 16.4 billion yenDue to a decrease in profit from the Australian coking coal business caused by decline incommodity prices and others.In addition to the above,due as well to absence o

47、f gains on the sale of Gavilons grain business recognized in the previous fiscal year,net profit attributable to owners of the parent for the fiscal year ended March 31,2024 decreased by 71.6 billion yen,or 13.2%year on year,to 471.4 billion yen.Marubeni Corporation Consolidated Financial Results 5

48、Results(net profit attributable to owners of the parent)for each operating segment for the fiscal year ended March 31,2024 are as follows:(Millions of yen)20232024Lifestyle6,7999,9113,112IT Solutions9,5347,768(1,766)Food I11,55316,9825,429Food II76,93417,997(58,937)Agri Business42,73241,503(1,229)Fo

49、rest Products(9,382)(14,180)(4,798)Chemicals14,2607,019(7,241)Metals&Mineral Resources199,359163,479(35,880)Energy38,66339,233570Power40,00847,3267,318Infrastructure Project8,80916,9378,128Aerospace&Ship28,19826,384(1,814)Finance,Leasing&Real Estate Business43,74543,877132Construction,Industrial Mac

50、hinery&Mobility23,84627,1473,301Next Generation Business Development(5,130)3405,470Next Generation Corporate Development(1,979)(3,056)(1,077)Other15,05222,7457,693Consolidated543,001471,412(71,589)Fiscal year ended March 31,Variance(Note 1)Effective from the fiscal year ended March 31,2024,“ICT Busi

51、ness&Logistics”has been renamed“IT Solutions.”Also,parts of“Lifestyle”have been incorporated into“Finance,Leasing&Real Estate Business”and“Next Generation Business Development,”parts of“ICT Business&Logistics”into“Next Generation Business Development,”parts of“Energy”into“Power,”parts of“Next Genera

52、tion Business Development”into“Chemicals,”and parts of“Other”into“IT Solutions”respectively.In conjunction with these organizational changes,operating segment information for the fiscal year ended March 31,2023 has been reclassified.Additionally,for“New Energy Business Development Dept.”which was ne

53、wly established in the fiscal year ended March 31,2024,incorporating parts of“Energy,”“Power”and“Infrastructure Project,”the profit/loss and others,are allocated to“Energy,”“Power”and“Infrastructure Project.”In conjunction with these organizational changes,operating segment information for the fisca

54、l year ended March 31,2023 has been reclassified.(Note 2)Inter-segment transactions are generally priced in accordance with the prevailing market prices.(Note 3)“Other”includes profit/loss such as head office expenses that are not allocated to the operating segments,inter-segment elimination,and oth

55、ers.Marubeni Corporation Consolidated Financial Results 6 Lifestyle Net profit attributable to owners of the parent for the fiscal year ended March 31,2024(hereinafter referred to as net profit)increased by 3.1 billion yen to 9.9 billion yen.This is due to an increase in profit from the trading of a

56、pparel and other products as well as the absence of the one-time loss related to the planning,manufacturing,and sales of apparel and other products recognized in the previous fiscal year.IT Solutions Net profit decreased by 1.8 billion yen to 7.8 billion yen,due to increased expenses associated with

57、 the establishment of an intermediate holding company of an IT-related business and others.Food I Net profit increased by 5.4 billion yen to 17.0 billion yen,due to increases in profits from the instant coffee manufacturing and sales business,the instant noodles production and sales business,and the

58、 domestic confectionary wholesale business.Food II Net profit decreased by 58.9 billion to 18.0 billion yen,due to absence of gains on the sale of Gavilons grain business recognized in the previous fiscal year,a decrease in profit of the beef processing and sales business,and others.Agri Business Ne

59、t profit decreased by 1.2 billion yen to 41.5 billion yen,due to decreases in profits of Helena against the backdrop of lower prices of agri-inputs including agrichemical and others,despite improvements in the fertilizer wholesale business in the U.S.Forest Products Net loss worsened by 4.8 billion

60、yen to 14.2 billion yen.This is due to the lower profit of the MUSI pulp business resulting from the deteriorated pulp market prices,as well as an impairment loss on fixed assets in the business of containerboard manufacturing and distribution and sales of packaging goods in Vietnam.This occurred de

61、spite the absence of an impairment loss on investment in the domestic paper manufacturing and sales business recognized in the previous fiscal year,and others.Marubeni Corporation Consolidated Financial Results 7 Chemicals Net profit decreased by 7.2 billion yen to 7.0 billion yen,due to an impairme

62、nt loss on goodwill in the feed additives sales business,along with decreases in profits from petrochemicals and inorganic chemicals trading,and others.Metals&Mineral Resources Net profit decreased by 35.9 billion yen to 163.5 billion yen.This is due to a decrease in profit of the Australian coking

63、coal business caused by decline in commodity prices,and others.Energy Net profit increased by 0.6 billion yen to 39.2 billion yen,due to the absence of an impairment loss on oil and gas E&P recognized in the previous fiscal year and others,despite a decrease in profit from oil and gas E&P caused by

64、lower oil and gas prices and others.Power Net profit increased by 7.3 billion yen to 47.3 billion yen,due to increases in profits from the overseas power generation businesses and others.Infrastructure Project Net profit increased by 8.1 billion yen to 16.9 billion yen due to one-time gains related

65、to an overseas infrastructure project and others.Aerospace&Ship Net profit decreased by 1.8 billion yen to 26.4 billion yen due to a decline in profit in the ship owning and operating business following the weaker ship market conditions,despite a profit increase in the aviation-related business due

66、to a recovery in demand.Finance,Leasing&Real Estate Business Net profit increased by 0.1 billion yen to 43.9 billion yen,driven by received cash settlement proceeds in respect of aircraft leases to Russian airlines in the U.S.aircraft leasing business,and an increase in profits of the domestic real

67、estate business and others,offsetting a decrease in profit of the U.S.used car retail financing business.Marubeni Corporation Consolidated Financial Results 8 Construction,Industrial Machinery&Mobility Net profit increased by 3.3 billion yen to 27.1 billion yen due to an increase in profit of the co

68、nstruction machinery business.Next Generation Business Development Net profit improved by 5.5 billion yen to 0.3 billion yen,due to the absence of the bad debt expense recognized in the previous fiscal year and others,as well as an increase in profit from the healthcare turnkey solutions provider bu

69、siness in the Middle East.Next Generation Corporate Development Net loss worsened by 1.1 billion yen to 3.1 billion yen,due to increase in expenses associated with the establishment of subsidiaries and others.Marubeni Corporation Consolidated Financial Results 9 (3)Cash Flows Cash and cash equivalen

70、ts at the end of the fiscal year ended March 31,2024 were 506.3 billion yen,an decrease of 102.7 billion yen from the end of the previous fiscal year.(Operating activities)Net cash provided by operating activities was 442.5 billion yen due to operating revenue,dividend income despite an increase of

71、working capital and others.(Investing activities)Net cash used by investing activities was 334.4 billion yen,mainly due to outflow of a capital expenditure in overseas businesses and acquisition of shares of equity method affiliates and others.As a result of the above-mentioned activities,free cash

72、flow for the fiscal year ended March 31,2024 was an inflow of 108.0 billion yen.(Financing activities)Net cash used in financing activities amounted to 254.2 billion yen as a result of dividend payments and repurchases of treasury stock.(4)Financial Position(Billions of yen)March 31,March 31,2023202

73、4Total assets7,953.68,923.6970.0Net interest-bearing debt1,483.11,902.4419.3Equity attributable to owners of the parent2,877.73,459.7581.9Net DE ratio(times)0.520.550.03 pointsVariance (Note 1)Figures are rounded to the nearest hundred million yen.(Note 2)Net interest-bearing debt is calculated as c

74、ash and cash equivalents and time deposit subtracted from the sum of bonds and borrowings(current and non-current).Total assets at the end of the fiscal year,increased by 970.0 billion yen from the end of the previous fiscal year to 8,923.6 billion yen due to the Japanese yen depreciation and others

75、.Net interest-bearing debt increased by 419.3 billion yen from the end of the previous fiscal year to 1,902.4 billion yen,due to the optional repayment of the perpetual subordinated loan(*)as well as dividend payments and others,despite a free cash inflow.Equity Marubeni Corporation Consolidated Fin

76、ancial Results 10 attributable to owners of the parent increased by 581.9 billion yen from the end of the previous fiscal year to 3,459.7 billion yen,due to an increase in retained earnings by net profit accumulation and an increase in foreign currency translation adjustments by the Japanese yen dep

77、reciation,despite a decrease by the optional repayment of the perpetual subordinated loan(*).Consequently,net DE ratio stood at 0.55 times.(Note*)The Company made an optional repayment of a total of 150.0 billion yen on August 16,2023,for the perpetual subordinated loan.Perpetual subordinated loans

78、are classified as equity instruments under IFRS.Therefore,as a result of the above repayment,the equity decreased 150.0 billion yen.Marubeni Corporation Consolidated Financial Results 11 (5)Outlook for the Fiscal Year Ending March 31,2025 Looking at the economic environment for the fiscal year endin

79、g March 31,2025,although the global front was weighed down by the effects of past monetary policy tightening and reduction of fiscal assistance,growth is expected to be comparable to the previous fiscal year,albeit weaker than historical averages,supported by the initiation of interest rate cuts in

80、major countries during the fiscal year and solid expansion in emerging economies.In the U.S.,while the high-interest rate environment has weighed on consumption and investment activities,the initiation of interest rate cuts during the fiscal year is expected to reaccelerate the economy.On the contra

81、ry,in China,growth is expected to slow down from the previous fiscal year due to continued sluggishness in the real estate market.In Europe,while personal consumption is expected to rebound with easing inflation,weakness in manufacturing and production activities is expected to persist.There are als

82、o growing concerns around stagnation in international trade and investment activities as well as supply chain disruptions stemming from geopolitical risks such as tensions in Russia/Ukraine and the Middle East.Amid the sluggish global economy,demand for primary commodities is expected to remain weak

83、,but supply-side restraints can contribute to a stable price.In terms of the financial environment,interest rate cuts in the fiscal year are expected by major countries,while a relatively tightened financial environment is expected to prevail throughout the fiscal year.In this environment,the global

84、 economy is expected to continue with a similar growth rate to that of the previous fiscal year.Under these circumstances,the global economys growth rate is anticipated to continue at a similar pace to the previous fiscal year.In response to the above,the forecasts for the fiscal year ending March 3

85、1,2025,are as follows:Results for fiscal yearended March 31,2024(A)Forecasts for fiscal yearending March 31,2025(B)Variance(B-A)Variance inpercentage(%)Profit attributable to owners of the parent(billions of yen)471.4480.08.61.8%Earnings per share attributable toowners of the parent(basic)(yen)279.6

86、2286.677.052.5%Marubeni Corporation Consolidated Financial Results 12 (Billions of yen)Results for fiscal yearended March 31,2024(A)Forecasts for fiscal yearending March 31,2025(B)Variance(B-A)Lifestyle9.911.01.1Forest Products(14.2)9.023.2IT Solutions7.88.00.2Food I17.017.00.0Food II18.022.04.0Agri

87、 Business41.544.02.5Chemicals7.013.06.0Metals&Mineral Resources163.5149.0(14.5)Energy39.275.035.8Power47.343.0(4.3)Infrastructure Project16.911.0(5.9)Aerospace&Ship26.427.00.6Finance,Leasing&Real Estate Business43.953.09.1Construction,Industrial Machinery&Mobility27.132.04.9Next Generation Business

88、Development0.31.00.7Next Generation Corporate Development(3.1)(3.0)0.1Other22.7(32.0)(54.7)Consolidated471.4480.08.6 (Note 1)Effective from the fiscal year ending March 31,2025,parts of“IT Solutions”have been incorporated into“Infrastructure Project.”In conjunction with this organizational change,op

89、erating segment information for the fiscal year ended March 31,2024 has been reclassified.(Note 2)The profit/loss and others of the“New Energy Business Development Department,”which is not an independent operating segment,are allocated to“Energy,”“Power”and“Infrastructure Project.”Marubeni Corporati

90、on Consolidated Financial Results 13 Oil WTI:USD/Barrel7875(3)Copper LME:USD/MT8,3748,650276JPY TIBOR 3M:%0.080.200.12USD SOFR 3M:%5.304.50(0.80)Foreign exchange rate(full-year average):USD/JPY144.62140.00(4.62)Results for fiscal yearended March 31,2024(A)Forecasts for fiscal yearending March 31,202

91、5(B)Variance(B-A)As for the dividend for the period of the Mid-Term Management Strategy GC2024(FYE 3/2023-FYE 3/2025),the Company adopts a progressive dividend policy to increase its dividends through its medium-and long-term profit growth,and will conduct share buybacks flexibly toward the target o

92、f a total payout ratio of around 30%-35%.The dividend per share for the fiscal year ending March 31,2025,is forecasted to be 90.00 yen(interim dividend:45.00 yen,year-end dividend:45.00 yen).(Notes to the description about future)The descriptions about future such as the above earnings forecast are

93、based upon available information and assumptions,as of the time of the announcement date,about uncertain factors which would influence future businesses.Actual results might be influenced by various factors in the future.2.Basic Rationale behind Choice of Accounting Principles The Marubeni Group has

94、 adopted IFRS to enhance its financial reportings international comparability and user-friendliness in capital markets.Marubeni Corporation Consolidated Financial Results 14 3.Consolidated Financial Statements and Notes(1)Consolidated Statements of Financial PositionMarch 31March 3120232024Variance6

95、08,917 506,254 (102,663)1,394 15 (1,379)1,337,276 1,551,091 213,815 389,141 338,513 (50,628)1,157,864 1,178,733 20,869 Assets held-for-sale-3,484 3,484 265,982 368,193 102,211 3,760,574 3,946,283 185,709 2,316,481 2,773,706 457,225 251,788 332,919 81,131 127,729 138,255 10,526 172,467 169,278 (3,189

96、)947,647 1,081,455 133,808 300,875 384,090 83,215 8,370 8,356 (14)67,673 89,255 21,582 4,193,030 4,977,314 784,284 7,953,604 8,923,597 969,993 Time deposits (Millions of yen)AssetsCurrent assets:Cash and cash equivalentsTrade and loan receivablesOther current financial assetsInventoriesOther current

97、 assets Total current assetsNon-current assets:Investments in associates and joint venturesOther investmentsTrade and loan receivablesOther non-current financial assetsProperty,plant and equipmentIntangible assetsDeferred tax assetsOther non-current assets Total non-current assetsTotal assets Marube

98、ni Corporation Consolidated Financial Results 15 March 31March 3120232024Variance485,413 498,731 13,318 1,308,657 1,371,078 62,421 445,155 416,857 (28,298)36,537 24,985 (11,552)521,608 534,623 13,015 2,797,370 2,846,274 48,904 1,607,983 1,909,933 301,950 1,006 873 (133)312,917 308,830 (4,087)46,630

99、28,567 (18,063)146,678 194,421 47,743 59,047 71,853 12,806 2,174,261 2,514,477 340,216 4,971,631 5,360,751 389,120 263,324 263,599 275 107,261 98,340 (8,921)145,657 -(145,657)(3,357)(4,189)(832)1,778,193 2,086,701 308,508 79,671 121,239 41,568 456,527 833,429 376,902 50,471 60,563 10,092 Equity attr

100、ibutable to owners of the parent2,877,747 3,459,682 581,935 Non-controlling interests104,226 103,164 (1,062)2,981,973 3,562,846 580,873 7,953,604 8,923,597 969,993 (Millions of yen)Liabilities and EquityCurrent liabilities:Bonds and borrowingsTrade and other payablesOther current financial liabiliti

101、esIncome tax payableOther current liabilities Total current liabilitiesCapital surplusNon-current liabilities:Bonds and borrowingsTrade and other payablesOther non-current financial liabilitiesAccrued pension and retirement benefitsDeferred tax liabilitiesOther non-current liabilities Total non-curr

102、ent liabilities Total liabilitiesEquity:Issued capitalOther equity instrumentsTreasury stockRetained earningsOther components of equity:Gains(losses)on financial assets measured at fair value through other comprehensive income Gains(losses)on cash flow hedges Total equityTotal liabilities and equity

103、 Foreign currency translation adjustments Marubeni Corporation Consolidated Financial Results 16 (2)Consolidated Statements of Comprehensive Income20232024VarianceRatio(%)Revenue:Sale of goods9,047,228 7,101,158 (1,946,070)(21.5)Commissions on services and trading margins143,244 149,357 6,113 4.3Tot

104、al revenue9,190,472 7,250,515 (1,939,957)(21.1)Cost of goods sold(8,139,177)(6,184,697)1,954,480 (24.0)Gross trading profit1,051,295 1,065,818 14,523 1.4Other income(expenses):Selling,general and administrative expenses(704,500)(781,209)(76,709)10.9Provision for doubtful accounts(5,981)(8,288)(2,307

105、)38.6Gains(losses)on property,plant and equipmentImpairment losses on property,plant and equipment(19,534)(24,636)(5,102)26.1Gains(losses)on sales of property,plant and equipment3,739 4,424 685 18.3Other income42,165 43,479 1,314 3.1Other expenses(38,338)(24,529)13,809 (36.0)Total other income(expen

106、ses)(722,449)(790,759)(68,310)9.5Finance income(expenses):Interest income25,059 31,725 6,666 26.6Interest expense(56,782)(72,552)(15,770)27.8Dividend income10,380 18,037 7,657 73.8Gains(losses)on investment securities57,475 3,469 (54,006)(94.0)Total finance income(expenses)36,132 (19,321)(55,453)286

107、,767 311,398 24,631 8.6651,745 567,136 (84,609)(13.0)Income taxes(98,926)(84,588)14,338 (14.5)Profit for the year552,819 482,548 (70,271)(12.7)Profit for the year attributable to:Owners of the parent543,001 471,412 (71,589)(13.2)Non-controlling interests9,818 11,136 1,318 13.4Other comprehensive inc

108、ome:Gains(losses)on financial assets measured at fair valuethrough other comprehensive income12,229 40,592 28,363 231.9Remeasurements of defined benefit plan11,635 20,619 8,984 77.2Changes in other comprehensive income of associates andjoint ventures1,498 6,613 5,115 341.5Foreign currency translatio

109、n adjustments102,366 293,130 190,764 186.4Gains(losses)on cash flow hedges45,128 7,214 (37,914)(84.0)Changes in other comprehensive income of associates andjoint ventures110,118 100,773 (9,345)(8.5)Other comprehensive income,net of tax282,974 468,941 185,967 65.7Total comprehensive income for the ye

110、ar835,793 951,489 115,696 13.8Attributable to:Owners of the parent826,114 934,442 108,328 13.1Non-controlling interests9,679 17,047 7,368 76.1Fiscal year ended March 31,Share of profits(losses)of associates and joint venturesProfit for the year before taxItems that will not be reclassified subsequen

111、tly to profit or loss for theyearItems that may be reclassified subsequently to profit or loss for the year(Millions of yen)Marubeni Corporation Consolidated Financial Results 17 (3)Consolidated Statements of Changes in Equity Fiscal year ended March 31,2023(April 1,2022-March 31,2023)(Millions of y

112、en)Gains(losses)onfinancial assetsmeasured at fairvalue through othercomprehensiveincomeForeign currencytranslationadjustmentsBalance at beginning of year262,947 143,653 145,657 (19,738)1,379,701 63,505 330,292 Adjustment at the beginning of thefiscal year(hyperinflationaryeconomy)227 2,047 Profit f

113、or the year543,001 Other comprehensive income13,717 124,188 Share-based payment transactions377 422 Purchases and sales of treasurystock(491)(39,855)Cancellation of treasury stock(31,637)56,236 (24,599)Dividends payment(127,208)Equity transactions with non-controlling interests and others(4,913)Dist

114、ribution to owners of otherequity instruments(2,550)Transfer to retained earnings9,848 2,449 Transfer to non-financial assetsand othersBalance at end of year263,324 107,261 145,657 (3,357)1,778,193 79,671 456,527 Gains(losses)oncash flow hedgesRemeasurements ofdefined benefitpension planOther compon

115、ents ofequity totalBalance at beginning of year(63,837)-329,960 2,242,180 96,148 2,338,328 Adjustment at the beginning of thefiscal year(hyperinflationaryeconomy)2,047 2,274 2,274 Profit for the year543,001 9,818 552,819 Other comprehensive income132,911 12,297 283,113 283,113 (139)282,974 Share-bas

116、ed payment transactions799 799 Purchases and sales of treasurystock(40,346)(40,346)Cancellation of treasury stock-Dividends payment(127,208)(7,317)(134,525)Equity transactions with non-controlling interests and others(4,913)5,716 803 Distribution to owners of otherequity instruments(2,550)(2,550)Tra

117、nsfer to retained earnings(12,297)(9,848)-Transfer to non-financial assetsand others(18,603)(18,603)(18,603)(18,603)Balance at end of year50,471 -586,669 2,877,747 104,226 2,981,973 Equity attributable to owners of the parentIssued capitalCapital surplusOther equityinstrumentsTreasury stockRetained

118、earningsOther components of equityEquity attributable to owners of the parentNon-controllinginterestsTotal equityOther components of equityEquity attributable toowners of the parent Marubeni Corporation Consolidated Financial Results 18 Fiscal year ended March 31,2024(April 1,2023-March 31,2024)(Mil

119、lions of yen)Gains(losses)onfinancial assetsmeasured at fair valuethrough othercomprehensiveincomeForeign currencytranslationadjustmentsBalance at beginning of year263,324 107,261 145,657 (3,357)1,778,193 79,671 456,527 Profit for the year471,412 Other comprehensive income47,357 376,902 Share-based

120、payment transactions275 790 Purchases and sales of treasurystock(187)(49,135)(660)Cancellation of treasury stock48,303 (48,303)Dividends payment(138,537)Equity transactions with non-controlling interests and others(5,181)Distribution to owners of other equityinstruments(1,262)Redemption of other equ

121、ityinstruments(4,343)(145,657)Transfer to retained earnings25,858 (5,789)Transfer to non-financial assets andothersBalance at end of year263,599 98,340 -(4,189)2,086,701 121,239 833,429 Gains(losses)oncash flow hedgesRemeasurements ofdefined benefitpension planOther components ofequity totalBalance

122、at beginning of year50,471 -586,669 2,877,747 104,226 2,981,973 Profit for the year471,412 11,136 482,548 Other comprehensive income18,702 20,069 463,030 463,030 5,911 468,941 Share-based payment transactions1,065 1,065 Purchases and sales of treasurystock(49,982)(49,982)Cancellation of treasury sto

123、ck-Dividends payment(138,537)(8,460)(146,997)Equity transactions with non-controlling interests and others(5,181)(9,649)(14,830)Distribution to owners of other equityinstruments(1,262)(1,262)Redemption of other equityinstruments(150,000)(150,000)Transfer to retained earnings(20,069)(25,858)-Transfer

124、 to non-financial assets andothers(8,610)(8,610)(8,610)(8,610)Balance at end of year60,563 -1,015,231 3,459,682 103,164 3,562,846 Equity attributable to owners of the parentIssued capitalCapital surplusOther equityinstrumentsTreasury stockRetained earningsOther components of equityEquity attributabl

125、e to owners of the parentNon-controllinginterestsTotal equityOther components of equityEquity attributable toowners of the parent Marubeni Corporation Consolidated Financial Results 19 (4)Consolidated Statements of Cash Flows20232024Operating activitiesProfit for the year552,819 482,548 (70,271)Depr

126、eciation and amortisation156,539 177,666 21,127 (Gains)Losses on property,plant and equipment15,795 20,212 4,417 Finance(income)expenses(36,132)19,321 55,453 (286,767)(311,398)(24,631)Income taxes98,926 84,588 (14,338)Changes in notes and trade accounts receivable31,779 (137,900)(169,679)Changes in

127、inventories127,644 101,016 (26,628)Changes in notes and trade accounts payable(160,483)(35,008)125,475 25,390 (44,270)(69,660)21,980 27,431 5,451 (53,981)(74,537)(20,556)194,956 224,373 29,417 Income taxes paid(82,131)(91,573)(9,442)Net cash provided by/used in operating activities606,334 442,469 (1

128、63,865)Investing activitiesNet(increase)decrease in time deposits(1,209)1,353 2,562 Proceeds from sale of property,plant and equipment18,033 21,688 3,655 Collection of loans receivable12,299 12,556 257 330,086 980 (329,106)44,096 71,957 27,861 Purchase of property,plant and equipment(104,260)(153,37

129、1)(49,111)Loans provided to customers(33,477)(18,144)15,333 (8,065)(56,103)(48,038)(100,698)(215,341)(114,643)Net cash provided by/used in investing activities156,805 (334,425)(491,230)Financing activitiesNet increase(decrease)in short-term borrowings(386,812)66,010 452,822 Proceeds from long-term b

130、onds and borrowings234,195 637,241 403,046 Repayments of long-term bonds and borrowings(442,890)(593,269)(150,379)Dividends paid to owners of the parent(127,208)(138,537)(11,329)Net cash outflows on purchases and sales of treasury stock(40,965)(50,070)(9,105)Capital contribution from non-controlling

131、 interests8,015 1,311 (6,704)Acquisition of equity portion of subsidiary from non-controlling interests(1,046)(17,149)(16,103)Distribution to owners of other equity instruments(2,550)(1,262)1,288 Redemption of other equity instruments-(150,000)(150,000)Other(7,326)(8,447)(1,121)Net cash provided by/

132、used in financing activities(766,587)(254,172)512,415 Effect of exchange rate changes on cash and cash equivalents33,638 43,465 9,827 Net increase(decrease)in cash and cash equivalents 30,190 (102,663)(132,853)Cash and cash equivalents at beginning of period578,636 608,917 30,281 91 -(91)Cash and ca

133、sh equivalents at end of year608,917 506,254 (102,663):None(5)Notes Related to Going Concern AssumptionsProceeds from sale of subsidiaries,net of cash and cash equivalents disposed ofProceeds from sale of investments in associates and joint ventures,and otherinvestmentsAcquisition of subsidiaries,ne

134、t of cash and cash equivalents acquiredPurchase of investments in associates and joint ventures,and other investmentsIncrease(decrease)in cash and cash equivalents resulting fromtransfer to assets held for saleDividends received (Millions of yen)Fiscal year ended March 31,VarianceAdjustments to reco

135、ncile profit for the period to net cash provided by(used in)operatingactivities:Share of profits of associates and joint venturesOther-netInterest receivedInterest paid Marubeni Corporation Consolidated Financial Results 20 (6)Segment Information Fiscal year ended March 31,2023(April 1,2022-March 31

136、,2023)LifestyleIT SolutionsFood IFood IIAgri BusinessForestProductsChemicalsMetals&MineralResourcesEnergy169,133356,595891,0372,909,5851,494,468267,498675,245521,927931,89147,13699,05756,89093,502231,44750,17445,55189,28196,89512,46217,67610,08532,84450,23524,04719,43868,11059,263(172)5694,7383,5621

137、,202(11,328)2,456155,00410,0266,7999,53411,55376,93442,732(9,382)14,260199,35938,663173,852372,121425,999560,3611,099,277323,206322,8711,209,495555,856PowerInfrastructureProjectAerospace&ShipFinance,Leasing&Real EstateBusinessConstruction,IndustrialMachinery&MobilityNextGenerationBusinessDevelopment

138、NextGenerationCorporateDevelopmentOtherConsolidated334,18923,110116,41650,380441,47616,883-(9,361)9,190,47261,45512,80639,09825,737106,1765,860-(9,770)1,051,2957,813(6,337)25,89864528,537(3,935)(1,535)(4,432)340,81440,66215,84711,51743,3698,779813(371)94286,76740,0088,80928,19843,74523,846(5,130)(1,

139、979)15,052543,0011,179,906281,004334,644550,488379,75037,84913,448133,4777,953,604 Fiscal year ended March 31,2024(April 1,2023-March 31,2024)LifestyleIT SolutionsFood IFood IIAgri BusinessForestProductsChemicalsMetals&MineralResourcesEnergy186,250376,854894,6131,134,6121,453,775242,969541,303529,71

140、0808,15056,633102,84269,47378,115258,99743,35544,18960,50286,29013,47015,39117,54928,12647,42716,74612,32438,34545,7813291187,0641,1597502,5523,946138,65011,0289,9117,76816,98217,99741,503(14,180)7,019163,47939,233187,512384,668549,432536,3931,222,361338,554431,1631,361,963623,778PowerInfrastructure

141、ProjectAerospace&ShipFinance,Leasing&Real EstateBusinessConstruction,IndustrialMachinery&MobilityNextGenerationBusinessDevelopmentNextGenerationCorporateDevelopmentOtherConsolidated298,86831,590128,56857,437553,56022,278192(10,214)7,250,51560,62513,44038,76231,641125,0096,706153(10,914)1,065,818(3,8

142、81)(8,288)23,1913,82833,393(2,817)(2,973)(1,291)276,32149,19520,4209,97350,94011,9872,96222996311,39847,32616,93726,38443,87727,147340(3,056)22,745471,4121,281,101343,888379,134673,074450,34782,95436,98640,2898,923,597(Millions of yen)RevenueGross trading profit(loss)Operating profit(loss)Share of p

143、rofits(losses)of associates and joint venturesProfit(loss)attributable to owners of the parentSegment assets(as of March 31,2023)RevenueGross trading profit(loss)Operating profit(loss)Share of profits(losses)of associates and joint venturesProfit(loss)attributable to owners of the parentSegment asse

144、ts(as of March 31,2023)(Millions of yen)RevenueGross trading profit(loss)Operating profit(loss)Share of profits(losses)of associates and joint venturesProfit(loss)attributable to owners of the parentSegment assets(as of March 31,2024)RevenueGross trading profit(loss)Operating profit(loss)Share of pr

145、ofits(losses)of associates and joint venturesProfit(loss)attributable to owners of the parentSegment assets(as of March 31,2024)(Note 1)Effective from the fiscal year ended March 31,2024,“ICT Business&Logistics”has been renamed“IT Solutions.”Also,parts of“Lifestyle”have been incorporated into“Financ

146、e,Leasing&Real Estate Business”and“Next Generation Business Development,”parts of“ICT Business&Logistics”into“Next Generation Business Development,”parts of“Energy”into“Power,”parts of“Next Generation Business Development”into“Chemicals,”and parts of“Other”into“IT Solutions”respectively.In conjuncti

147、on with these organizational changes,operating segment information for the fiscal year ended March 31,2023 and at March 31,2023 have been reclassified.Additionally,for“New Energy Business Development Dept.”which was newly established in the fiscal year ended March 31,2024,incorporating parts of“Ener

148、gy,”“Power”and“Infrastructure Project,”the profit/loss and others are allocated to“Energy,”“Power”and“Infrastructure Project.”In conjunction with these organizational changes,operating segment information for the fiscal year ended March 31,2023 and at March 31,2023 have been reclassified.(Note 2)Ope

149、rating profit(loss)is presented in accordance with Japanese accounting practice for investors convenience and is not required by IFRS.Operating profit(loss)is the sum of Gross trading profit,Selling,general and administrative expenses and Provision for doubtful accounts.(Note 3)Inter-segment transac

150、tions are generally priced in accordance with the prevailing market prices.(Note 4)“Other”includes profit/loss such as head office expenses that are not allocated to the operating segments,inter-segment elimination,and assets such as cash and cash equivalents related to financing held for general co

151、rporate purposes that are not allocated to the operating segments.Marubeni Corporation Consolidated Financial Results 21 (7)Earnings per Share20232024Profit for the year attributable to owners of the parent543,001471,4122,550952540,451470,460(3)(3)540,448470,4571,709,705,8571,682,516,3731,827,2191,4

152、23,882618,901208,709385,034648,0291,712,537,0111,684,796,993316.11279.62315.58279.24Diluted earnings per share attributable to owners of the parent(yen)Adjustment concerning stock acquisition rightsAdjustment concerning restricted stockAdjustment concerning restricted stock with market capitalisatio

153、nconditionWeighted average number of ordinary shares used for the calculation ofearnings per share attributable owners of the parent(diluted)Basic earnings per share attributable to owners of the parent(yen)Effect of dilutionThe following table sets forth the calculation of basic and diluted earning

154、s per share attributable to owners of the parent:Fiscal year ended March 31,Numerator(millions of yen):Adjustment amount used for calculation of earnings per shareattributable to owners of the parent(basic)Amount not attributable to owners of the parentProfit for the year used for calculation of ear

155、nings per shareattributable to owners of the parent(basic)Adjustment amount used for calculation of earnings per shareattributable to owners of the parent(diluted)Profit for the year used for the calculation of earnings per share attributable toowners of the parent(diluted)Denominator(number of shar

156、es):Weighted average number of ordinary shares used for the calculation ofearnings(losses)per share attributable to owners of the parent(basic)(8)Material Subsequent Events To implement a flexible capital policy and enhance shareholder returns,the Company has decided to repurchase shares of its comm

157、on stock through Off-auction Own Share Repurchase Trading System(ToSTNeT-3)and on the Tokyo Stock Exchange,up to 50.0 billion yen or 38 million shares during the period from May 7,2024 to September 30,2024.All shares repurchased,excluding the shares anticipated to be allocated for stock compensation(1 million shares),are scheduled to be canceled on October 25,2024.For the details,please refer to the Company release titled as Notice Regarding Share Marubeni Corporation Consolidated Financial Results 22 Repurchases and Cancellation of Treasury Stock announced on May 2,2024.