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    Mitsui en 123_4q_p_1 Mitsui en 123_4q_p_1 Presentation Transcript

    • Results of Fiscal Year Ended March 2012 and Medium-Term Management Plan to March 2014 Mitsui & Co., Ltd. May 8, 2012 A Cautionary Note on Forward-Looking Statements: This material contains statements (including figures) regarding Mitsui & Co., Ltd. (“Mitsui”)’s corporate strategies, objectives, and views of future developments that are forward-looking in nature and are not simply reiterations of historical facts. These statements are presented to inform stakeholders of the views of Mitsui’s management but should not be relied on solely in making investment and other decisions. You should be aware that a number of important risk factors could lead to outcomes that differ materially from those presented in such forward-looking statements. These include, but are not limited to, (i) change in economic conditions that may lead to unforeseen developments in markets for products handled by Mitsui, (ii) fluctuations in currency exchange rates that may cause unexpected deterioration in the value of transactions, (iii) adverse political developments that may create unavoidable delays or postponement of transactions and projects, (iv) changes in laws, regulations, or policies in any of the countries where Mitsui conducts its operations that may affect Mitsuis ability to fulfill its commitments, and (v) significant changes in the competitive environment. In the course of its operations, Mitsui adopts measures to control these and other types of risks, but this does not constitute a guarantee that such measures will be effective.Copyright(C) Mitsui & Co., Ltd. 2012
    • Operating Environment Operating Environment Down side risk in global economy remains due to financial turmoil in euro area  Slowdown in growth rate of emerging economies and potential decline in commodity markets may impact our bottom line While gradual slowdown in the growth rates in the emerging and developing economies is expected due to tightening of monetary policies and decline in export volumes, underlying growth fundamentals remain positive. China’s growth will be sustained driven by resilient domestic consumption and investments required for urbanization of the interior regions. Potential higher volatility in crude oil prices due to geopolitical risks.  Global economy is capable of showing modest recovery driven by growth fundamentals of the emerging economies.  Extra care is required to monitor the downside risks in our operating environment and the commodities/foreign exchange markets. We continue to capture the growth opportunities in the emerging markets and meet the global demand based on a long-term view.Copyright(C) Mitsui & Co., Ltd. 2012 1
    • Net Income Attributable to Mitsui* for Year Ended March 31, 2012  Net Income attributable to Mitsui was ¥434.5 billion, an increase of ¥127.8 billion (+42%) from the corresponding previous year, mainly due to a run-up in commodity prices including crude oil and metal resources and reversal effect of settlement of the oil spill incident in the Gulf of Mexico.  Net income attributable to Mitsui was ¥94.2 billion for the 4Q, a decline of ¥18.8 billion compared to the 3Q. 434.5 17.4% 430.0 Net Income attributable to Net Income attributable to Mitsui & Co., Ltd.* Mitsui & Co., Ltd.* ROE 306.7 ROE 13.3% 149.7 7.3% (¥billion) Mar/2010 Mar/2011 Mar/2012 Mar/2012 Plan Exchange rate (¥/US$) 93 85 79 (Announced in Feb 2012) Oil price/JCC (US$/bbl) 62 80 108* In this presentation material, “net income” means “net income attributable to Mitsui & Co., Ltd.”Copyright(C) Mitsui & Co., Ltd. 2012 2
    • Investments and Loans in FY Mar/2012 Mar/2012 Plan (Annual) : ¥700 billion (Net ¥580 billion) Mar/2012 Result (Annual) : ¥650 billion (Net ¥440 billion) Progress by business areas (¥billion) Mineral Resources Global Marketing Lifestyle Business Infrastructure Divestiture & Energy Networks Plan : 260.0 110.0 200.0 130.0 -120.0 ・Hospital business in Asia Result : ・Multigrain ・MicroBiopharm ・Retail finance for Japan motorcycles ・Biomass-derived ・FPSO leasing chemicals(Brazil) business ・Novus ・Rolling stock lease ・Oil & gas projects, ・Logistics company ・Portek ・Sakhalin II capital redemption iron ore and coal (Brazil) (Port develop’t, ・FPSO (collection of loans) expansion managem’t company) ・T-GAIA (divestiture of shares) ・Shale gas projects ・Rolling stock lease receivables ・Caserones copper ・Valepar redemption of preferred shares ・Altamira LNG terminal project ・INPEX (divestiture of shares) etc. Net Cash Outflow: ・Investments and loans executed during Approx.440.0 January-March 2012 in blueCopyright(C) Mitsui & Co., Ltd. 2012 3
    • Balance Sheets & Cash Flows Balance Sheets Cash Flows (¥trillion) (¥billion) Mar/2011 Mar/2012 Operating C/F Mar/2010 Investment C/F Other Other Other liabilities Free C/F liabilities liabilities Current Current Current assets 2.6 2.6 2.5 assets assets 4.3 4.4 4.3 Interest- Interest- Interest- bearing debt bearing debt 632.4 bearing debt 3.4 3.6 3.5 504.5Investments Investments Investments *(1.9) *(2.1) and other *(2.1) and other and other 381.0 assets assets assets 4.1 Shareholders 4.3 Shareholders 4.6 Shareholders equity equity equity 452.3 2.2 0.2 2.4 0.2 2.6 20.5 0.2 Noncontrolling Noncontrolling Noncontrolling interests interests interests -57.2Total assets ¥8.4 Total assets ¥8.6 Total assets ¥9.0 -180.1Shareholders’ equity ¥2.2 Shareholders’ equity ¥2.4 Shareholders’ equity ¥2.6ROE 7.3% ROE 13.3% ROE 17.4% -438.2Net DER 0.92x Net DER 0.82x Net DER 0.81x -484.0(¥ amount in ¥trillion) Mar/2010 Mar/2011 Mar/2012(*) Figures in brackets in interest-bearing debt are “net interest-bearing debt”, which is interest-bearing debt minus cash and cash equivalents and time deposits. Copyright(C) Mitsui & Co., Ltd. 2012 4
    • Annual Dividend for FY Mar/2012 Annual dividend to be ¥55 per share (+¥8 per share increase from the previous year) accordingly year-end dividend to be ¥28 per share (consolidated payout ratio of 23%) Year-end Dividend Interim Dividend EPS 238 227 168 Year end dividend (¥/share) 28 Interim dividend (¥/share) 23 98 27 82 EPS 0 23 25 11 27 20 (¥/Share) 7 Mar/2008 Mar/2009 Mar/2010 Mar/2011 Mar/2012 Annual dividend (¥/share) ¥46 ¥25 ¥18 ¥47 ¥55 Payout ratio 20% 26% 22% 23%* 23% *Based on net income of ¥367.9 billion which excludes the impact of recognized subsequent events relevant to the settlement of the oil spill incident in the Gulf of Mexico.Copyright(C) Mitsui & Co., Ltd. 2012 5
    • Review of Medium-Term Management Plan “Challenge & Innovation 2012” Stronger Mitsui, more distinctive and respected Mitsui FY Mar/2011 – Mar/2012Copyright(C) Mitsui & Co., Ltd. 2012 6
    • Review on Medium-Term Management Plan -Quantitative Plan vs. Result- 434.5 370.0 320.0 306.7* (¥billion) (¥billion) Net Income Mar/2011 Mar/2012 Mar/2011 Mar/2012 (Plan) (Plan) (Result) (Result) ROE 13.5% 14.0% 13.3% 17.4% Total assets ¥9.1 ¥9.9 ¥8.6 ¥9.0 Shareholders’ equity ¥2.5 ¥2.8 ¥2.4 ¥2.6 Net interest-bearing debt ¥2.5 ¥2.7 ¥1.9 ¥2.1 Net DER 1.0x 1.0x 0.82x 0.81x (¥ amount in ¥trillion) *Including settlement of oil spill incident in Gulf ofCopyright(C) Mitsui & Co., Ltd. 2012 Mexico -62.3billion (after tax) 7
    • Review on Medium-Term Management Plan -Investments and Loans- Plan Result Business Area Mar/2011 Mar/2012 Major Projects Mar/2011-12 (¥billion) Mineral Resources Expansion projects (iron ore, oil & gas, coal), Shale 240 500 & Energy gas/oil, Caserones copper, Taganito nickel Phosphorus ore development (Peru), Biomass- Global Marketing 160 190 derived chemicals (Brazil), Chlor-alkali (U.S.), Networks Novus, Logistics company (Brazil) 500 Hospital business in Asia, Multigrain, Lifestyle Business 60 300 MicroBiopharm Japan, TPV IPP (Mexico), Rolling stock lease, Loan for Infrastructure 240 350 commercial vessel business, FPSO lease (Brazil), Port development and management company Gross Cash 1,340 Outflow 1,200 Sakhalin II, Loan collection from FPSO (Brazil), Divestiture ▲300 ※ ▲400 Steel Technologies, Container terminal, IPP (Mexico) ※ Mar/2011: ▲160, Mar/2012: ▲140 Net Cash Outflow 900 940Copyright(C) Mitsui & Co., Ltd. 2012 8
    • Four Key Initiatives of the Medium-Term Management Plan 1. Reinforcement of the earnings base and business engineering capabilities 2. Implementation of global strategy and strategic deployment of human resources 3. Evolution of portfolio strategy 4. Reinforcement of management structure to achieve sustainable growthCopyright(C) Mitsui & Co., Ltd. 2012 9
    • Progress in Key Initiatives 1. Reinforcement of the earnings base and Initiative : business engineering capabilities (1/3) ✔ Increase in equity production tonnage of Mineral Resources and Energy ✔ Constant increase in equity production and reserves of oil and gas  Increased natural gas/condensate production in Thailand, acquisition of shale gas/oil assets (Marcellus, Eagle Ford)  Successfully discovered a substantial gas reservoir in Mozambique  Continued expansions in Australian iron ore production capacityCopyright(C) Mitsui & Co., Ltd. 2012 10
    • Initiative : 1. Reinforcement of the earnings base and business engineering capabilities (2/3) ✔ Non-resource Business – Reinforcement of earnings base Global Marketing Network  Steel processing and production facilities in Russia/India with strong local partners  Expanded mining equipment sales and service business  Participation in Vale’s phosphorus ore development project in Peru  Chlor-alkali project in U.S. and biopolymer production in Brazil with Dow Chemical Lifestyle Business  Full acquisition of Multigrain, agricultural production and grain origination in Brazil  Acquisition of 30% share in Integrated Healthcare Holdings, subsequent acquisition of Turkish healthcare group Infrastructure  Acquisition of Portek International, port development and management company  Acquisition of water treatment plant in China through Galaxy NewSpring, participation in IPP business in China  Long-term chartering of FPSO for deep water pre-salt oil fields in BrazilCopyright(C) Mitsui & Co., Ltd. 2012 11
    • Initiative : 1. Reinforcement of the earnings base and business engineering capabilities (3/3) ✔ Strategy for Environment and Energy  Acquisition of natural gas fired power station in Mexico, subsequent partial divestiture  Progress in internal collaboration on areas such as renewable energy  Establishment of Environment and New Energy Committee  Provides business environment analysis and strategy recommendation as an advisory body to the Corporate Management Committee ✔ Reinforcement of Domestic Business  Restructuring and mergers of domestic businesses  Merged LPG business with JX Nippon Oil & Energy JX  Discussions to integrate domestic fertilizer business with Sumitomo Corporation  Establishment of Domestic Business Development Department  Establish and implement domestic business strategy (reconstruction from Great East Japan Earthquake etc.)Copyright(C) Mitsui & Co., Ltd. 2012 12
    • Initiative : 2. Implementation of global strategy and strategic deployment of human resources ✔ Progress in key regions of focus (BRICs, Mexico, Indonesia)  Mexico : Iron & Steel Products, Infrastructure Projects etc.  Brazil : Chemicals, Motor Vehicles etc.  India : Iron & Steel Products etc. ✔ Re-aligned our network in Central-Eastern Europe, new offices in Africa ✔ Offices in China, Taiwan, Korea and CIS countries now report directly to the headquarters, accelerating regional business strategy ✔ Further globalization of human resources Shifted approx. 140 employees from domestic offices to offices in AsiaCopyright(C) Mitsui & Co., Ltd. 2012 13
    • Initiative : 3. Evolution of portfolio strategy ✔ Continuous improvement of asset quality and strategic asset recycling ✔ Further emphasis on investment discipline Initiative : 4. Reinforcement of management structure to achieve sustainable growth ✔ Review of Business Continuity Plan ✔ Proper management of risk of information leakage  Introduction of information risk management system ✔ Introduction of next-generation group-wide core systemCopyright(C) Mitsui & Co., Ltd. 2012 14
    • Challenge and Innovation 2014 Medium-Term Management Plan Challenge and Innovation 2014 Creating the future through dynamic evolution FY Mar/2013 –Mar/2014 Copyright(C) Mitsui & Co., Ltd. 2012 15
    • Challenge and Innovation 2014 Medium-Term Management Plan Quantitative Summary 500.0~600.0 450.0 Quantitative 434.5 image 400.0 306.7 (¥billion) Mar/2011 Mar/2012 Mar/2013 Mar/2014 Net Income 3~5years ahead (Result) (Result) (Plan) (Plan)ROE 13.3% 17.4% 14.3% 14.5% 12 ~ 15%Total assets ¥8.6 ¥9.0 ¥9.6 ¥10.0 ¥10 ~ ¥12Shareholders’ equity ¥2.4 ¥2.6 ¥2.9 ¥3.3Net interest-bearing debt ¥1.9 ¥2.1 ¥2.3 ¥2.3Net DER 0.82x 0.81x 0.78x 0.70x (¥ amount in ¥trillion) Copyright(C) Mitsui & Co., Ltd. 2012 16
    • Challenge and Innovation 2014 Reorganization to 6 Business Area  Reorganization to 6 business area from previous 4 business area.  Newly create “Innovation & Cross Function” business area  Develop new businesses for the future, carry out investments for corporate development purposes  Contribute to the entire earnings base by providing various functional capabilities Previous New 6 Operating Business Business Area Business Area Segment Unit Mineral Resources & Iron & Steel Energy Products -Iron & Steel Products -Mineral & Metal Metals Mineral & Metal -Mineral & Metal Resources Resources Resources -Energy BU 1 -Infrastructure Projects -Energy BU 2 Machinery & Machinery & -Motor Vehicles & Construction Machinery Lifestyle Infrastructure Infrastructure -Marine & Aerospace -Foods & Retail -Consumer Service -Basic Chemicals -IT Chemicals Chemicals -Financial & New Business -Performance Chemicals Global Marketing Networks -Energy BU 1 -Iron & Steel Products Energy Energy -Motor Vehicles & -Energy BU 2 Construction Machinery -Basic Chemicals -Food Resources -Performance Chemicals Lifestyle Lifestyle -Food Products & Services Infrastructure -Consumer Service New -IT -Infrastructure Projects Business Area Innovation & Innovation & -Marine & Aerospace -Financial & New Business -Transportation Logistics Cross Function Cross Function -Transportation Logistics Copyright(C) Mitsui & Co., Ltd. 2012 17
    • Challenge and Innovation 2014 Medium-Term Management Plan Net Income Forecast by New Business Area(reference*) 500.0-600.0 500.0-600.0 500 Quantitative 434.5 450.0 image 400.0 400 253.4 194.0 Metals 300 174.0 Machinery & Infrastructure Chemicals 22.3 34.5 Energy 18.6 27.5 200 27.5 Lifestyle 17.5 Innovation & Cross Function 195.2 158.0 All Other/Adjustments 100 145.0 & Eliminations 10.0 7.5 16.0 21.5 7.0 (¥billion) 17.5 10.0 -31.4 -41.1 Mar/2012 Mar/2013 Mar/2014 3~5years ahead (Result) (Plan) (Plan) * Global result and plan by business area, allocating all overseas operations into corresponding business areas. Copyright(C) Mitsui & Co., Ltd. 2012 18
    • Challenge and Innovation 2014 Medium-Term Management Plan Investments and Loans Business Total amount Area Mar/13 Mar/14 (¥bn) during the period Metals 200  Energy: Machinery &  Oil & Gas projects Infrastructure 200  New LNG projects Chemicals 50  Mineral Resources: 600  Expansion projects Energy 250  Infrastructure: Lifestyle 50  Rolling stock lease  Marine energy Innovation & Cross Function 50 Gross Cash Outflow 800 600 1,400 Divestiture ▲160 ▲140 ▲300 Net Cash Outflow 640 460 1,100 Copyright(C) Mitsui & Co., Ltd. 2012 19
    • Challenge and Innovation 2014 Key Initiatives of the Medium-Term Management Plan Basic Policy Establish strong earnings base that enables sustainable and stable growth Create added value through distinctive capabilities and good, meaningful work Create new businesses for the next generation, aim to be the strongest global business enabler Key Initiatives 1. Reinforcement of earnings base by demonstrating business engineering capabilities 2. Creating businesses for the next generation 3. Evolution of portfolio strategy 4. Acceleration of globalization initiatives 5. Reinforcement of group management infrastructure Copyright(C) Mitsui & Co., Ltd. 2012 20
    • Challenge and Innovation 2014 Key Initiatives of the Medium-Term Management Plan 1. Reinforcement of earnings base by demonstrating business engineering capabilities (1/2)  Further expansion into upstream businesses (Metals, Energy, Chemicals, Food and Consumer Products)  Expansion of existing projects, exploration, grain production and origination, basic raw materials etc.  Seeking sustainable growth for both the host country and the business  Reinforcement of initiatives in natural gas value chain  Resource Development – Supply and Distribution Infrastructure - Trading  Chemicals, Power Generation, Transportation Fuel, Next Generation Technology  Enhancement of partnership strategy  Developing multi-faceted business relations with strategic partners Copyright(C) Mitsui & Co., Ltd. 2012 21
    • Challenge and Innovation 2014 Key Initiatives of the Medium-Term Management Plan 1. Reinforcement of earnings base by demonstrating business engineering capabilities (2/2)  Capture the growth in emerging economies and global industrial requirement  Using our global marketing network as leverage for business development  Iron & Steel Products, Chemicals, Motor Vehicles  Enhance collaboration between Food and agricultural chemicals  Continuous development of infrastructure  Acceleration and expansion of medical and healthcare business development  Provide distinctive functional capabilities, strengthen corporate development activities to create new businesses  Provide finance, logistics, IT capabilities for earnings base reinforcement Copyright(C) Mitsui & Co., Ltd. 2012 22
    • Challenge and Innovation 2014 Key Initiatives of the Medium-Term Management Plan 2. Creating businesses for the next generation  Source new leads for innovation, implement corporate development activities  Allocation of management resources to new technologies  Environmental businesses and new energy  Contribution to industrial transformation in Japan 3. Evolution of portfolio strategy  Early realization of returns from past investments  Continuous improvement of asset quality through strategic asset recycling  Dynamic allocation of management resources to growth areas and emerging economies  Enhance development of human resources (management, project managers) Copyright(C) Mitsui & Co., Ltd. 2012 23
    • Challenge and Innovation 2014 Key Initiatives of the Medium-Term Management Plan 4. Acceleration of globalization initiatives  Allocating management resources to Mozambique and Myanmar in addition to Brazil, Russia, India, China, Mexico and Indonesia  Business development in Frontier regions (Africa etc.), Turkey and Middle East utilizing our various capabilities  Cultivation of new businesses globally through collaboration between units  Amalgamation of global product strategies and local origination capabilities 5. Reinforcement of group management infrastructure  Improvement in business processes, enhancement of internal control and risk management  Management emphasis on “good, meaningful work” as a responsible corporate citizen Copyright(C) Mitsui & Co., Ltd. 2012 24
    • Challenge and Innovation 2014 Medium-Term Management Plan Shareholder Return Policy  Basic Policy  Meeting investment demand in area of our core strengths and growth thereby maximizing corporate and shareholder value  Directly providing returns to shareholders by paying out cash dividends  Medium-Term Management Plan Period  Reflecting our sound financial standing, raised minimum target dividend payout ratio to 25% of consolidated net income. Annual Dividend (¥/share) (/share) 238 EPS 219 168 98 55 55 82 47 25 18 (¥/Share) Mar/2009 Mar/2010 Mar/2011 Mar/2012 Mar/2013 * * Assumption : dividend payout ratio of 25% Plan and net income planned (¥400.0bn) Copyright(C) Mitsui & Co., Ltd. 2012 25
    • Supplementary InformationCopyright(C) Mitsui & Co., Ltd. 2012 26
    • Net Income in FY Mar/2012 by Operating Segment Major Factors in Y-on-Y Changes (after tax basis) 306.7 434.5 Energy ¥188.1 bn +¥131.5 bn (+232% ) 9.5 ↑ Reversal effect of settlement of the oil spill incident in the Gulf of Mexico +62.3 ↑ Increase in dividend income from LNG projects +39.5 ↑ MOECO: Increases in oil prices(excluding settlement of the oil spill incident in the Gulf of Mexico) ↑ Increases in petroleum trading business due to increase in sales volume and 434.5 favorable market 201.3 ↑ MCH +4.4**: Higher coal prices 306.7 ↑ Reduction of the Japanese corporate income tax rate +5.0 ↓ Reversal of DTL related to dividends received from associated companies -6.0 8.3 Mineral & Metal Resources ¥201.3 bn +¥33.8 bn (+20% ) 17.7 ↑ MIOD+23.7**: Increases in iron ore prices and recognition of DTA related to 9.1 MRRT partially offset by negative forex 167.5 ↑ MII +3.8**: Increases in sales volume in addition to above factors for MIOD (Total one-time positive impact of 14.5** related to MRRT) ↑ Valepar +10.7*: Increase in iron ore prices partially offset by negative forex ↓ MRMD -9.4: Impairment loss of 8.8 on goodwill from operations MRMD invests 188.1 ↑ Reduction of the Japanese corporate income tax rate +11.9 ↑ Reversal of DTL related to dividends received from associated companies +9.5 40.1 12.8 Consumer Service & IT -¥35.5 bn -¥39.4 bn ↓ Impairment loss on securities -39.8 56.6 15.5 :TPV Technology-18.9, Moshi Moshi Hotline -6.7, Nihon Unisys -6.0, 2.8 4.8 Formosa-4.0 ↑ Reversal effect of impairment loss on investment in the domestic real 56.4 66.8 (¥billion) estate 3.9 ↑ Gain on sales of T-GAIA+3.9 -41.0 -0.7 -35.5 Machinery & Infrastructure Projects +¥17.7 bn -¥22.4 bn(-56%) ↓ Reversal effect of divestiture and remeasurement gain of MT Falcon -42.8 ↓ Reversal effect of divestiture of unlisted securities held by Mitsui Hong Kong -9.1 ↓ Impairment loss of aviation-related stock. Mar/2011 Mar/11 Mar/2012 Mar/12 ↑ Reduction of the Japanese corporate income tax rate +4.0Iron & Steel Products Chemical Foods & Retail Logistics * After tax effect on undistributed retained earnings recognizedOverseas All Other/Adjustments & & Financial Business at parent company. Eliminations **This segment’s holding portionCopyright(C) Mitsui & Co., Ltd. 2012 27
    • Breakdown on Y-on-Y Change in Net Income (Mar/2011 vs Mar/2012) (¥billion) 434.5 Miscellaneous(After tax basis) approx. One-Time ▲33.0 +50.0 +40.0 Reversal Effect ±0 Costs in Market & 306.7 +71.0 Divesture & Energy & Commodity Mineral Resources Evaluati on Prices Profit/Loss Details Details Energy: -25.0 Details Details Mineral Resources: -8.0 ■ Settlement of the oil spill incident in the ■ Reduction of Japanese Oil & Gas: +48.0 Details Gulf of Mexico: +62.3 corporate income Iron Ore: +37.0 tax rate: +25.0 Coal: +24.0 Sales volume increase: +7.0 ■ Divestitures of Copper, Nickel: +2.0 ■ securities: -19.0 Mineral Resources +7.0 ■ MRRT : +19.0 Forex*: -61.0 MT Falcon i) Yen vs functional Impact of the Great East ■ Unlisted securities ■ Divestitures of currency; -7.0 Japan: -4.0 held by Mitsui HK securities: +15.0 ii)Functional currency vs ■ Reversal Effect of INPEX +5.0,T-Gaia +3.9 revenue currencies; -54.0 Evaluation Losses:+28.0 Multigrain +1.8 □ Evaluation loss of ■ Divestitures of securities: +17.0 Long-lived assets: +3.0 □ Long-lived assets related: +8.0 ■ Evaluation losses: -62.0 Honeymoon -4.8 □ Securities: -50.0 Mitsui Oil -2.7 etc. Mar/11 Mar/12 TPV -18.9, Moshi Moshi Hotline -6.7 Mar/2011 □ Others: +3.0 Nihon Unisys -6.0, Formosa -4.0 Mar/2012 □ Goodwill: -11.0 *Forex Scrap metal recycling business -8.8 □Energy: -30.0 〔 i) -5.0, ii)-25.0 〕 □ Long-lived assets □Mineral Resources: -25.0 〔 i) +4.0, ii)-29.0 〕 related: -2.0 □Others: -6.0 〔 i) -6.0 〕 □ Others +1.0 Overseas IPP business MtMCopyright(C) Mitsui & Co., Ltd. 2012 28
    • Net Income Forecast for FY Mar/2013 434.5 by Operating Segment 9.5 Major Factors in Y-on-Y Changes (after tax basis) 434.5 400.0 201.3 400.0 9.0 Mineral & Metal Resources ¥135.0bn -¥66.3bn (-33%) ↓ Despite the robust demand for iron ore in China, tight demand and supply 135.0 balance will be alleviated from FY Mar/2012 partially attributable to an 17.7 increase in iron ore supply. 9.1 22.0 10.0 Energy ¥140.0bn -¥48.1bn (-26%) 188.1 ↓ Assumed decline in coal prices in line with the conclusion reached in 140.0 price negotiations ↑ Increase in production tonnage for oil & gas and coal. 17.0 13.0 9.0 66.8 52.0 (¥billion) Innovation & Cross Function ¥9.0bn (+¥41.2) 10.0 ↑ Reversal effect of impairment losses on securities. -32.2 Mar/13 -42.8 Mar/2012 Mar/12 Mar/13 Mar/2013 Result Plan Iron & Steel Products Machinery & Infrastructure Chemicals Lifestyle Overseas All Other/Adjustments & EliminationsCopyright(C) Mitsui & Co., Ltd. 2012 29
    • Breakdown on Y-on-Y Change in Net Income (Mar/2012 vs Mar/2013) (¥billion) (After tax basis) One-Time Market & Cost in Energy & 434.5 Reversal Effect Commodity Prices Mineral Resources ±0 Miscellaneous 400.0 ▲45.0 approx. ▲20.0 +31.0 Details ■ Reduction of Japanese Details Details corporate income ■ Sales volume increase tax rate: -25.0 Iron Ore: -42.0 Mineral Resources & Energy ■ MRRT : -19.0 Coal: -19.0 Copper, Nickel: -3.0 ■Recovery in earnings in ■ Divestitures of Oil & Gas: +14.0 Machinery & Infrastructure securities: -15.0 Forex: +5.0 and Chemicals ■ Divestitures of Long-lived assets: -3.0 ■ Evaluation losses:+62.0 □ Securities: +50.0 □ Goodwill: +11.0 □ Long-lived assets: +2.0 □ Others -1.0 Mar/2012 Mar/12 Mar/2013 Mar/13 Actual R lt PlanCopyright(C) Mitsui & Co., Ltd. 2012 30
    • Net Income Forecast for FY Mar/2014 by Operating Segment 5 450.0 400.0 11.0 Iron & Steel Products 9.0 150.0 Mineral & Metal Resources 135.0 Machinery & Infrastructure 30.0 Chemicals 22.0 20.0 10.0 Energy 140.0 150.0 Lifestyle Innovation & Cross Function 13.0 9.0 18.0 6.0 Overseas 52.0 58.0 (¥billion) 10.0 7.0 All Other/Adjustments Mar/13 & Eliminations Mar/2013 Mar/2014 Mar/14 Plan PlanCopyright(C) Mitsui & Co., Ltd. 2012 31
    • AppendixCopyright(C) Mitsui & Co., Ltd. 2012 32
    • Gross Profit Summary of Operating Results (Year on Year) 859.2 878.3 (¥billion) Major Factors in Y-on-Y Changes Gross Profit ¥878.3 bn +¥19.1 bn (+2%) ↑ MII +6.6, MIOD +3.2: Increase in iron ore prices, partially offset by negative forex ↑ Solid performance in petroleum trading business. MEPME+12.1, MOECO+11.5, MEPAU+7.8:Increase in oil prices ↑ MCH+7.1:Increase in sales volumes and coal prices Mar/11 Mar/12 ↑ Reversal of evaluation losses on forward contracts of coffee +9.3,Reclassification of Multigrain to subsidiary+4.1 ↓ Reclassification of ENEOS GLOBE to associated company -18.4Operating Income ↓ Decline in margin: Mitsui Oil -5.7, Westport Petroleum-3.5 348.4 ↓ Chemical Segment -6.4: Underperforming trading activities of petrochemical intermediate materials, as well as 317.0 decline in sales volume and prices of Shark Bay Salt Operating Income ¥348.4 bn +¥31.4 bn (+10%) ↑ Increase in gross profit ↑ Decrease in SG & A expenses mainly due to reclassification of ENEOS GLOBE+18.2 Mar/11 Mar/12 Equity in Earnings of Associated Companies ¥232.1 bn -¥10.0 bn (-4%)Equity in Earnings of ↑ Valepar +18.2: Increase in iron ore prices, partially offset by negative forexAssociated Companies-Net ↑ Robe River Mining Co. +9.8: Increase in iron ore price, MRRT, negative effect on forex and the reversal effect of sales price adjustment gain 242.1 232.1 ↓ Collahuasi -5.1:Decline in sale volume and increase in operating cost partially offset by increase in copper prices ↓ Impairment loss -33.1: TPV Technology -18.3, Moshi Moshi Hotline -6.7, Nihon Unisys -6.0 Net Income ¥434.5 bn +¥127.8 bn (+42%) ↑ Dividend Income +35.5 (pre-tax) (including LNG projects +37.6) ↓ Loss on Sales of Securities -17.6 (pre-tax): Mar/11 Mar/12 Mar/12: INPEX +8.4,Remeasurement gain on Multigrain+3.6, T-GAIA +2.7 Mar/11: MT Falcon, Unlisted securities held by Mitsui HK+9.1,Gain on reclassification of Mitsui Marubeni Net income attributable to Liquefied Gas*8.8 Mitsui & Co., Ltd. ↑ Reversal effect of settlement of the oil spill incident in the Gulf of Mexico +88.6 (pre-tax) 434.5 ↑ Consideration for partial releasing of the mining lease for Shark Bay Salt +5.8 (pre-tax) 306.7 ↓ Impairment loss on securities -14.0 (pre tax) Formosa -4.0, Aviation-related stock, Preferred share of Valepar -1.0 (year-on-year) ↑ Reduction of the Japanese corporate income tax rate +24.6 ↑ Recognition of deferred tax assets related to MRRT mainly at Australian iron ore mining operations +18.8 Mar/11 Mar/12 * Mitsui Marubeni Liquefied Gas Co., Ltd changed its name to ENEOS GLOBE Corporation due to the merger with the liquefied petroleum Copyright(C) Mitsui & Co., Ltd. 2012 gas business of JX Nippon Oil & Energy Corporation in March 2011. 33
    • (¥billion)Gross Profit Net Income Forecast for FY Mar/2013 878.3 870.0 (Details on Major P/L items) [Assumption] Exchange rate (JPY/USD) 80.00 78.82 Crude oil (JCC) $110/bbl $114/bbl Crude oil (JCC) reckoned $113/bbl $108/bbl in time lag Mar/12 Mar/13 (Billions of yen)Operating Income Mar-13 Mar-12 Increase Description of Increase/Decrease Outlook Actual /Decrease 348.4 330.0 Gross profit 870.0 878.3 -8.3 SG & A expenses -530.0 -514.8 -15.2 Increase attributable to new subsidiaries Provision for doubtful -10.0 -15.1 5.1 receivables Operating income 330.0 348.4 -18.4 (Other expenses) Mar/12 Mar/13 Interest expenses -10.0 -5.4 -4.6Equity in Earnings of Dividend income 70.0 86.5 -16.5 Decline in dividend income from LNG projectsAssociated Companies-Net Gain on sales of securities, -10.0 -16.3 6.3 PPE and other gains-net 232.1 225.0 Income before income taxes and equity in 380.0 413.2 -33.2 earnings Reversal effect of one time positive impacts Income taxes -185.0 -172.6 -12.4 due to MRRT and reduction in Japanese tax rate recorded in previous year Income before equity in 195.0 240.6 -45.6 earnings Mar/12 Mar/13 Reversal effect of impairment losses recorded Equity in earnings of in previous year, and decline in earnings from 225.0 232.1 -7.1 Net income attributable to associated companies associated companies of resources and energy Mitsui & Co., Ltd. due to decline in prices. Net income before 434.5 400.0 attribution of 420.0 472.7 -52.7 noncontrolling interests Net income attributable to noncontrolling -20.0 -38.2 18.2 interests Net income attributable 400.0 434.5 -34.5 Mar/12 Mar/13 to Mitsui & Co., Ltd.Copyright(C) Mitsui & Co., Ltd. 2012 34
    • Assumptions and Sensitivities for FY Mar/2013 Forecast FY Mar/2012 Estimated effect on net income FY Mar/2013 Commodity Price and Exchange Rate (Result) for FY Mar/2013 (Assumption) 108 Crude Oil/JCC(*1) ¥1.2 bn (US$1/bbl) 110 154(*2) Commodity Iron Ore ¥1.9 bn (US$1/ton) (*3) Price 8,821(*4) Copper (*5) 7,625 10.4(*4) Nickel ¥1.8 bn (US$1/lb) 8.5 78.82 USD ¥1.6 bn (¥1/USD) 80 Exchange 83.19 Rate AUD ¥1.9 bn (¥1/AUD) 85 (*6) 46.65 BRL ¥0.8 bn (¥1/BRL) 45 (*1) Oil price trend is reflected in net income with a 0-6 month time lag. For FY Mar/2013: 6 month time lag: 12%, 3 month time lag: 62%, Without lag : 26% The annual average price applicable to FY Mar/2013 is US$113/bbl, based on the premise that the crude oil price (JCC) will be maintained at US$110/bbl throughout FY Mar/2013. (*2) Dec 10 - Nov 11 average of representative reference prices (fine,Fe 62% CFR North China) . (*3) We refrain from disclosing iron ore price assumption for FY Mar/2013 forecast. (*4) Jan11-Dec11 average of LME cash settlement price.Copper:US$/MT,Nickel:US$/lb. (*5) We refrain from disclosing the copper price sensitivity to net income. (*6) Impact of currency fluctuation on net income of overseas subsidiaries and associated companies (denominated in functional currency) against JPY. Impact of currency fluctuation between thier functional currencies against revenue currencies and exchange hedging are not included.Copyright(C) Mitsui & Co., Ltd. 2012 35
    • Net Income by Business Area (Reference*) Medium-Term Management Plan Announced in May 2010 434.5 370.0 5.4 45.7 320.0 25.0 31.0 306.7 20.0 26.0 53.0 38.0 30.9 9.7 Mineral Resources 44.6 & Energy 149.7 434.5 Global Marketing 17.8 Networks 22.4 300.0 272.0 Lifestyle Business 262.9 161.9 Infrastructure (¥billion) -19.9 -36.0 -39.0 -41.4 -10.0 -32.5 -41.1 Mar/2010 Mar/2011 Mar/2012 Mar/2011 Mar/2012 Result Plan Plan Result Result (Announced in May 2010) * Global plan and result by business area, allocating all overseas operations into corresponding business areas.Copyright(C) Mitsui & Co., Ltd. 2012 36
    • Net Income by Quarterly Results 434.5 410.1 400.0 4Q 94.3 75.6 306.7 82.6 177.6 30.9 3Q 112.9 39.2 70.9 92.6 149.7 2Q 137.4 94.6 80.7 56.7 181.0 20.2 15.5 132.7 1Q 103.1 102.5 57.3 (¥billion) -102.1 Mar/2008 Mar/2009 Mar/2010 Mar/2011 Mar/2012 Mar/2013 PlanExchange rate (¥/US$) 114 101 93 85 79 80Oil price (US$/bbl) 71 101 62 80 108 113* * The annual average price applicable to FY Mar/2013 based on the premise that the crude oil price (JCC) will be maintained at US$110/bbl throughout FY Mar/2013. Copyright(C) Mitsui & Co., Ltd. 2012 37
    • Iron Ore Spot Price* (Reference) (US$/DMT) CFR North China (Fine, Fe 62%) 200 175 150 125 100 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 *Average of representative reference pricesCopyright(C) Mitsui & Co., Ltd. 2012 38
    • Equity Share of Delivery (Results) Mar/2011 Mar/2011 Mar/2011 Mar/2011 Mar/2011 Mar/2012 Mar/2012 Mar/2012 Mar/2011 Mar/2012 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q* Total Iron Ore(Mtpy) 10.5 10.7 11.9 10.9 44.0 10.7 11.7 12.2 11.2 45.8 MIOD 6.5 6.4 7.0 5.9 25.8 6.2 7.0 7.3 6.1 26.6 MII 0.7 0.8 1.0 1.0 3.5 1.1 1.1 1.0 1.0 4.2 Vale** 3.3 3.5 3.9 4.0 14.7 3.4 3.6 3.9 4.1 15.0 Coal(Mtpy) 2.0 2.5 2.3 1.7 8.5 1.7 2.4 2.7 2.4 9.2 MCH 1.8 2.1 2.0 1.4 7.3 1.5 2.1 2.4 2.1 8.1 BMC** 0.2 0.4 0.3 0.3 1.2 0.2 0.3 0.3 0.3 1.1    Coking Coal 1.4 1.9 1.7 1.3 6.3 1.1 1.8 2.3 1.8 7.0    Thermal Coal 0.6 0.6 0.6 0.4 2.2 0.6 0.6 0.4 0.6 2.2 Copper(Ktpy)*** 14.3 13.5 15.1 14.8 57.7 12.5 14.6 16.5 17.1 60.7 * Preliminary figures for coal ** 1Q: Result of Jan-Mar, 2Q: Result of Apr-Jun, 3Q: Result of Jul-Sep, 4Q: Result of Oct-Dec *** Including 5% equity share of ValeCopyright(C) Mitsui & Co., Ltd. 2012 39
    • Equity Share of Output (Announced in May 2012) 300 Oil/Gas (Kbbl/Day) 257.5 257.7 244.9 250 212.3 214.5 200 163.0 176.8 182.6 150 131.1 140.3 100 50 81.2 74.2 81.9 80.7 75.1 0 Mar/11 Mar/12 Mar/13 Mar/14 Mar/15 Result Result (Est.) (Est.) (Est.) (Mt/Year) 14 Coal 12 12 12 11 10 8.5 9.4 8 6 4 2 0 Mar/11 Mar/12 Mar/13 Mar/14 Mar/15 Result Result (Est.) (Est.) (Est.)Copyright(C) Mitsui & Co., Ltd. 2012 *Including 5% equity share of vale 40
    • As of March 31, 2012 Major Projects in Mineral & Metal Resources Business Erdos EPMC Erdos EJM Manganese Alloy Sims Metal Management Posco Terminal Silver Bell Ruyuan Dongyangguang Fine Foil Coral Bay Albras/Alunorte Taganito (Operational from 2013) Mitsui Mineral Development Asahan Mt. Goldsworthy Santa Luisa (Zinc/Lead) South Africa Robe River Goro Collahuasi Caserones Yandi Sims Metal Management (Planned start-up from 2013) Mt. Newman Los Pelambres Vale● Iron Ore▲ Ferro-Alloy■ Copper◆ Aluminum/Alumina○ Nickel△ Scrap□ OthersCopyright(C) Mitsui & Co., Ltd. 2012 41
    • As of March 31, 2012 Upstream Assets in Energy Business Poland Shale Thai/L10/43、L11/43 Sakhalin-Ⅱ Eagle Ford Shale Meleiha/Meleiha Deep/West Razzak Qatar LNG Marcellus Shale Libya Block 113、201 Tangguh LNG Oman Block Tuna Kestrel 3、4、9、27/NOGJV Moranbah North Gulf of Thailand Keta Merangin 1 South Walker Creek/Poitrel Thai/Block 10. 11. 12. 13. 10A. 11A.G4/48 NWS LNG German Creek/Lake Lindsay Thai/Block G4/43 Enfield/Vincent/Laverda Meridian CBM Mozambique Area1 Dawson/Surat Basin Thai/Block 8/32&9A Cambodia Block A Wanaea/Cossack Kupe Vietnam/Block B ▲ Coal Honeymoon Tui ■ Natural gas/LNG Drayton Vietnam/Block52/97 Yemen Block7 ◆ Oil West Papuwa 1&3 Thai/Block 14A. 15A. 16A Bengalla ○ Uranium Thai/Block B12/27 Casino/Henry/NetherbyCopyright(C) Mitsui & Co., Ltd. 2012 42
    • As of March 31, 2012 Upstream Assets (Natural Gas/LNG/Oil) Exploration Development Production Bid Seismic Processing Drilling Valuation FEED FID Development Production USA: Marcellus Shale Russia: Sakhalin II LNG( Sakhalin Energy) Australia: Laverda*1 and 19 other permits (MEPUSA)*3 Australia: NWS LNG( JAL-MIMI), ( MEPAU) Eagle Ford Shale Casino/Henry/Netherby, Meridian CBM( MEPAU) New Zealand: PEP50119 and 3 other permits ( MEPTX) *3 New Zealand: Kupe( MEPAU) ( MEPAU) Australia: Meridian CBM Thailand: Blocks 10.11.12.13.10A.11A.G4/48, Block B12/27, Papua New Guinea:PPL285( MEPAU) Natural (MEPAU)*3 Blocks 14A.15A.16A, Blocks 8/32&9A, Thailand: Blocks L10/43*2, L11/43*2 and 4 other gas/LNG Project permits( MOECO) Block G4/43 ( MOECO) Vietnam: Song Hong( MOECO) Indonesia: Tangguh LNG( KG Berau/KG Wiriagar) Blocks B, 52/97*1( MOECO) USA: Marcellus Shale( MEPUSA) Cambodia: Block A( MOECO) Eagle Ford Shale( MEPTX) Indonesia: Merangin Ⅰ, Tuna, Qatar: Qatargas 1 LNG( MILNED) West Papuwa Ⅰ・Ⅲ( MOECO) Qatargas 3 LNG( Mitsui Qatargas 3) Poland: Poland Shale( MEPPOL) Oman: NOGJV(MEPME) Oman: Block 3, 4*1( MEPME) Egypt: Meleiha Deep( MEPME) USA:Eagle Ford Shale Russia: Sakhalin II(Sakhalin Energy) Yemen: Block 7( MEPME) *3 Australia: Wanaea Cossack(JAL-MIMI), ( MEPTX) Libya: Block 113, Block 201( MOECO) Enfield, Vincent (MEPAU) Mozambique: Area1( MEPMOZ) New Zealand: Tui(MEPAU) Oil Ghana: Keta( MEPGK) Thailand: Blocks 10.11.12.13.10A.11A.G4/48, Project Blocks 8/32&9A, Block G4/43( MOECO) Oman: Block 9, 27(MEPME) Egypt: Meleiha/West Razzak(MEPME) USA:Eagle Ford Shale( MEPTX) *1 Proved undeveloped *2 Partly in development *3 Partly in productionCopyright(C) Mitsui & Co., Ltd. 2012 43
    • Mitsui’s Gas/Oil & Condensate Production US$/BBL Thousand BBL/day 244.9 257.5 257.7 212.3 214.5 139.4 149.7 188.4 156.1 2007/Mar 2008/Mar 2009/Mar 2010/Mar 2011/Mar 2012/Mar 2013/Mar 2014/Mar 2015/Mar (Forecast) (Forecast) (Forecast) (Production forecast was updated in May 2012)Copyright(C) Mitsui & Co., Ltd. 2012 44
    • As of March 31, 2012 Major Investments in Iron & Steel Products Business Wuhan Yorozu Bao Mit Automotive Steel Technologies Guangzhou Ribao Steel Coil Center (Service Center Location: Guangzhou Pacific Tinplate USA 16, Canada 2, Mexico 8) GEG(Holdings) Yorozu Bao Mit Automotive Euro-Mit Steel J/V with Severstal※ J/V with Bao Steel Group (14) (Operational from 2013) Seymour Tubing Mi-King S.R.O. Yantai Fuji Mitsui Automotive PK-USA Stami Changchun Fam SteelMi-King Limited Major Domestic Group Companies Indian Steel Mitsui & Co. Steel Mitsui Bussan Kozai Hanbai BAMI MBK Steel Products West Champions Pipe & Supply VINA Kyoei Steel Bright Steel Service Centre Regency Steel Asia Thai Tin Plate SIAM United Steel SIAM Yamato Steel Bangkok Coil Center ● Major domestic subsidiaries ▲ Processor ■ Manufacturer ◆ Distributor※The name of J/V has not be determined yet.Copyright(C) Mitsui & Co., Ltd. 2012 45
    • As of March 31, 2012 Portfolio of IPP (Independent Power Producer) Business Net Capacity (Mitsui’s Share): 5.5GW Indian Queens (Oil) 35MW Saltend (Gas) 300MW (Gross Capacity: 25GW) Rugeley (Coal) 263MW Saltillo (Gas) 99MW Deeside (Gas) 125MW First Hydro (Pumped Storage) 522MW Rio Bravo Ⅱ (Gas)198MW Derwent (Gas) 21MW Rio Bravo Ⅲ (Gas) 198MW Rio Bravo Ⅳ (Gas)200MW Wachtendonk (Wind) 1MW Altamira Ⅱ (Gas) 198MW Zajaczkowo (Wind) 22MW Haneda (Solar) 1MW Ontario (Gas) 503MW ISAB (Syngas/Solar) 78MW Hibikinada (Wind) 2MW Ras Laffan (Gas) 273MW Ichihara (Biomass) 7MW Hub Power (Oil etc.) 29MW Brazos (Wind) 80MW Hezhou (Coal) 500MW Amman East (Gas) 148MW Nam Ngum 2(Hydro) 14MW Umm Al Nar IWPP Eco Electrica (Gas) 79MW Gulf Electric (Gas/Biomass) 19MW (Gas) 134MW Juneda Solar (Solar) 1MW Paiton 1 (Coal) 498MW Valladolid (Gas) 263MW Spanish Hydro (Hydro) 24MW Paiton 3 (Coal) 330MW Guzman (Solar) 15MW Kwinana (Gas) 25MW Loy Yang B (Coal) 308MW Mitsui’s Portfolio▲ IPM (UK) Power’s portfolio■ IPM Eagle’s portfolio◆ MT Falcon’s portfolio● Others○ Under constructionCopyright(C) Mitsui & Co., Ltd. 2012 46
    • As of March 31, 2012 Major Infrastructure Projects (except IPP) MRCE/Railway Locomotive Lease Galaxy/Water Supply, Izumit/Water Supply Waste Water Treatment Ras Laffan IWPP MRCH/Railway Wagon Lease (Desalination) Atlatec/Water Supply, Waste Water Treatment Thai Tap/Water Supply Haneda Air Cargo Terminal Advanced Loan for PDVSA Refinery Waste Water Treatment for PEMEX Taiwan High Speed Rail Umm Al Nar IWPP Manzanillo LNG Terminal (Desalination) MRCLA/Railway Wagon Lease KPA/Ammonia Producing Subway PPP at Sao Paulo MGEB/Gas Distribution FPSO Lease for Petrobras● Oil & gas related infrastructure Drill Ship Lease for Petrobras▲ Transportation■ Water◆ Others (Basic industries, Socialinfrastructure etc.)Copyright(C) Mitsui & Co., Ltd. 2012 47
    • As of March 31, 2012 Portfolio of Automotive-Related Business T Transfreight T AMY, AMT Russia Automotive Logistics Europe T LEXUS Sukhumvit T Fraser Wharves Y Yamaha Motor Middle Europe H Mitsiam Motors H Hino Motors Sales (Thailand) H Hino Motors Manufacturing (Thailand) O Penske Automotive Group Y BAF (Thailand) T Transfreight Inc. T Toyota Canada T Toyota Marketing and Sales T Transfreight, LLC. T Sollers-Bussan H Hino Motors Sales H Hino Motors Sales USA T Transfreight China Logistics T Toyota Motor H Hino Motors Manufacturing Mexico T Kuotu Motors T Transfreight Mexico Manufacturing Y India Yamaha Turkey Motor Private T Toyota Motor Philippines H Hino Motors Sales Mexico T LEXUS Manila T Toyota de Colombia H Hino Motors Manufacturing D Perodua Auto Corporation Colombia Y Bussan Auto Finance O Veloce Logistica Y Yamaha Indonesia Motor Manufacturing T Toyota del Peru T Mitsui Automotriz Y Bussan Auto Finance (India) O Mitsui Auto Finance Peru T Transystem Logistics International T Toyota Chile● Logistics O Mitsui Auto Finance Chile T TOYOTA▲ Assembler/Manufacturing D DAIHATSU■ Importer/Distributor H HINO◆ Dealer Y YAMAHA○ Retail Finance O Others, VariousCopyright(C) Mitsui & Co., Ltd. 2012
    • As of March 31, 2012 Major Overseas Investments in Foods & Retail Business United Grain LDM Foods (Canola oil processing) (Grain merchandising) BUSSAN BEIJING Allied Pacific Mitsui Foods (Processed food) LOGISTICS ENTERPRISE (Shrimp farming) WILSEY FOODS Ventura Foods NEW MIT ENTERPRISE (Edible oil products) (Feedstuff) MCC LOGISTICS KOREA MITSUI BUSSAN LOGISTICS The Kumphawapi Sugar (Cane sugar) Multigrain (Production: Soybean, Cotton, etc.) KASET PHOL SUGAR (Cane sugar) (Distribution: Soybean, Corn, etc.) Synlait (Dairy farming) Mitsui Alimentos (Coffee products)● Resources▲ Materials■ Products & wholesaling◆ RetailCopyright(C) Mitsui & Co., Ltd. 2012 49
    • As of March 31, 2012 Major Investments in Trading Business in Chemical Business ITC Rubis Terminal Antwerp Mitsui Plastics Trading (Shanghai) Daiichi Tanker Mitsui Plastics Mitsui Bussan Chemicals Mitsui Bussan Agro Business Mitsui Bussan Frontier SunWize Technologies Mitsui Bussan Plastics Trade Mitsui Bussan Frontier (China) Intercontinental Terminals Company Siam Tank Terminals■ Petrochemicals◆ Green and Specialty chemicals○ Agricultural chemicals□ Performance materials and advanced materials△ Environmental chemicalsCopyright(C) Mitsui & Co., Ltd. 2012 50
    • As of March 31, 2012 Major Investments in Manufacturing Business in Chemical Business Mitsui Agri Science International Bioamber Sarnia Plalloy Mtd (start up from 2013) TRI (Poland) Novus International Hexa Americans Honshu Chemical Industry HI-BIS Soda Aromatic International Daito Chemical Industries Advanced Composites Methanol Company Riken Thailand Dow Mitsui Chlor-Alkali Palm Oleo (start up from 2013) Kaltim Pasifik Amoniak Santa Vitória Açúcar e Álcool Ltda (start up from 2013) P.T. Standard Toyo Polymer Compañia Minera Miski Mayo S.R.L. Onslow Salt (Mitsui Bussan Fertilizer Resources) Shark Bay Salt● Methanol▲ Chlor-alkali■ Petrochemicals◆ Green and Specialty chemicals○ Agricultural chemicals□ Performance materials and advanced materialsCopyright(C) Mitsui & Co., Ltd. 2012 51