ITOCHU Corp (OTCPK:ITOCF)

$ 47.54 -0.16 (-0.34%) Market Cap: 69.27 Bil Enterprise Value: 95.48 Bil PE Ratio: 12.32 PB Ratio: 1.88 GF Score: 84/100

Q1 2020 Itochu Corp Earnings Net Conference Transcript

Aug 02, 2019 / NTS GMT

Release Date Price: $19.52

Transcript

Tsuyoshi Hachimura

ITOCHU Corporation - CFO, Senior Managing Executive Officer & Director

This is Tsuyoshi Hachimura, CFO of ITOCHU. Thank you very much for joining us despite very hot weather outside.

Now I'd like to present the Q1 business results for FY 2020. Please turn to Page 2, which shows the summary of Q1 financial results for fiscal 2020. There are 5 major points.

First, net profit attributable to ITOCHU increased JPY 33.9 billion or 30% to JPY 147.3 billion. This is the quarterly net profit, which is the highest in the history. So in terms of the progress against our fiscal year forecast, it was about 30%. So the business results were very strong. I think we can say that ITOCHU is indeed doing very well.

When we have too much concentration on the particular businesses or particular regions, we would suffer when there are a lot of uncertainties. And that's something that we learned in fiscal 2016 as a general trading company. So we have been focused on "Earn, Cut, Prevent". So that we can do better than the market expectation in each of our businesses. So that we

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