Sojitz Corp. · TSE:2768
Sojitz — Q2 2026 Earnings Presentation
52 slides from Sojitz's earnings presentation, Oct 30, 2026
Slide 1: Presentation Materials for Financial Results for the First Half Ended September 30, 2026
Presentation Materials for Financial Results for the First Half Ended September 30, 2026 Progress of Medium-term Management Plan 2026 -Set for Next Stage- October 30, 2026 Sojitz Corporation Copyright Copyright ©©Sojitz Sojitz Corporation Corporation 2023 2026
Slide 2: Index
Index INDEX｜1 Progress of Medium-term Management Plan 2026 -Set for Next Stage- INDEX｜2 Financial Results for the First Half Ended September 30, 2026 and Full Year Forecast of Fiscal Year Ending March 31, 2027 INDEX｜3 Segment Information INDEX｜4 Supplemental Information Copyright © Sojitz Corporatio
Slide 3: Progress of Medium-term Management Plan 2026 -Set for Next Stage-
INDEX｜1 Progress of Medium-term Management Plan 2026 -Set for Next Stage-
Slide 4: FY26 H1 Summary – Highlights
I ND E X | 1 FY26 H1 Summary – Highlights FY26 H1 Results and Full-Year Forecast ● Profit for the period was JPY63.6bn ( 49% progress toward the full-year forecast) ● Chemicals made strong progress due to higher prices, while progress in Automotive and Consumer Industry & Agriculture Business was re
Slide 5: FY26 H1 Summary
INDEX ｜1 FY26 H1 Summary ⚫ Profit for the period in FY26 H1 was JPY63.6bn, representing progress of 49% toward the full-year forecast ⚫ Progress toward the full-year forecast of JPY130.0bn is in line with plan, including gains and losses associated with structural reforms FY25 H1 FY26 H1 Difference
Slide 6: Creating the Sojitz Growth Story
INDEX ｜1 The Sojitz Growth Story Creating the “Sojitz Growth Story” Transformation of portfolio to advance Sojitz to its Next Stage through creating the Sojitz Growth Story Expansion of new investments Enhancement of existing businesses ⚫ Pursuit of capacity acquisition and business ⚫ Utilization
Slide 7: The Sojitz Growth Story – Marine Products Businesses
I ND E X｜1 The Sojitz Growth Story – Marine Products Businesses Strengthening the seafood businesses platform through the acquisition of NESI in the U.K. Combining Sojitz Group’s procurement, processing and sales platform in Japan with NESI’s European sourcing and sales network, as well as its produ
Slide 8: The Sojitz Growth Story – Capella (Infrastructure Development Business)
I ND E X｜1 The Sojitz Growth Story – Capella (Infrastructure Development Business) Leveraging deep expertise and a strong track record to drive sustainable growth through recurring opportunities and diverse earnings streams Capella’s Track Record Pipeline in Australia Further business expansion Exte
Slide 9: The Sojitz Growth Story – Energy Solutions Businesses
I ND E X | 1 The Sojitz Growth Story – Energy Solutions Businesses Strong business execution and investments that capture growth opportunities are steadily strengthening and expanding the business platforms in the U.S. and Australia Market Growth Potential Sojitz’s Competitive Advantages ● Growing d
Slide 10: The Sojitz Growth Story – Chemicals Business
I ND E X｜1 The Sojitz Growth Story – Chemicals Business Strengthening supply chains and achieving profit growth by forecasting changes in the external environment and turning them into opportunities Expansion of Supply Capacity Consolidation of Domestic Oil Prolonged Instability in the in Certain Co
Slide 11: The Sojitz Growth Story – Business portfolio review and structural reform
INDEX ｜1 The Sojitz Growth Story ⚫ Reorganizing businesses where competitive advantages can be strengthened through co-creation with partners via share-outs ⚫ Promoting structural reforms by reviewing businesses, including withdrawal, where improvements or establishment of competitive advantages are
Slide 12: Decision to Sell Coking Coal Businesses in Australia
I ND E X｜1 The Sojitz Growth Story Decision to Sell Coking Coal Businesses in Australia Divestiture Overview Financial Impact Gregory Crinum coking coal business (GC) Impact of the Two Businesses on Profit for the Period ⚫ Signed an agreement to transfer its interests in the business ⚫ H1 results: J
Slide 13: Shareholder Returns Policy
INDEX ｜1 Shareholder Returns Policy ⚫ 9% increase in dividends year on year (from JPY165 to JPY180) based on progressive and predictable stable dividend policy Shareholder Returns Policy ※Referred to in MTP2026 Dividend • Achieve progressive and predictable stable dividends • Dividend forecast for F
Slide 14: Financial Results for the First Half Ended September 30, 2026 and Full Year Forecast
INDEX｜2 Financial Results for the First Half Ended September 30, 2026 and Full Year Forecast of Fiscal Year Ending March 31, 2027
Slide 15: Summary of Balance Sheet
INDEX ｜2 Summary of Balance Sheet Mar. 31, Sep. 30, Difference Main Factors （BN JPY） 2026 2026 Assets(current/non-current) 3,648.0 3,796.4 +148.4 Trade and other receivables (current) ⚫ Increased due to tobacco transactions and the energy solutions Cash and cash equivalents 245.1 222.0 (23.1) busine
Slide 16: Financial Summary
INDEX ｜2 Financial Summary Mar. 31, Sep. 30, FY26 Difference 2026 2026 Forecast （BN JPY） *3 Total assets 3,648.0 3,796.4 +148.4 3,800.0 *1 Total equity 1,090.4 1,156.0 +65.6 1,200.0 Shareholder equity *2 818.0 862.8 +44.8 － *3 Equity Ratio*1 29.9% 30.5% +0.6% 31.6% Gross interest-bearing debt 1,295.
Slide 17: Summary of Profit or Loss
INDEX ｜2 Summary of Profit or Loss FY26 FY25 H1 FY26 H1 Q1 Q2 Difference Main Factors Forecast vs. Forecast (BN JPY） Energy Solutions & Public Infrastructure +247.5, Chemicals +78.1, Revenue 1,240.3 1,672.1 834.2 837.9 +431.8 Metals, Mineral Resources & Recycling +65.6, Retail & Consumer Service － －
Slide 18: Summary of Gross Profit by Segment
INDEX ｜2 Summary of Gross Profit by Segment (BN JPY) 222.3 FY26 FY26 vs. Revised FY25 H1 FY26 H1 Difference Initial Revised Forecast （BN JPY） Forecast Forecast 33.6 Automotive 30.1 33.6 +3.5 70.0 65.0 52% 171.6 12.4 Aerospace & Transportation 14.1 12.4 (1.7) 40.0 40.0 31% 30.1 Infrastructure 46.0 En
Slide 19: Summary of Profit by Segment
INDEX ｜2 Summary of Profit by Segment (BN JPY) FY25 H1 FY26 H1 Difference Main Factors （BN JPY） 63.6 Despite earnings contributions from the automotive sales businesses in Latin America, profit decreased due to weak performance in the used car business Automotive 0.8 0.0 (0.8) in Australia and the r
Slide 20: FY26 Forecast Profit for the Year by Segment
INDEX ｜2 FY26 Forecast Profit for the Year by Segment FY26 FY26 Revised vs. Revised FY26 H1 Initial Revised Outlook Amount Forecast （BN JPY） Forecast Forecast Downward revision reflecting costs associated with structural reforms, Automotive 0.0 5.0 0.0 (5.0) ー despite earnings contributions from the
Slide 21: Summary of Cash Flow
INDEX ｜2 Summary of Cash Flow Main Factors FY25 H1 FY26 H1 Difference （BN JPY） CF from operating activities CF from operating activities 31.3 8.9 (22.4) ⚫ Inflows from operating activities and dividend -Dividend received from equity-method associates- FY25 H1 ：JPY21.1bn FY26 H1 ：JPY23.3bn ● Increase
Slide 22: Cash Flow Management
INDEX ｜2 Cash Flow Management ⚫ Approximately 70% of core operating cash flow over the three-year period to be allocated to growth investments—including human capital investments— for strengthening the foundation for future growth, with the remaining 30% allocated to shareholder returns ⚫ Despite ne
Slide 23: MTP2026 – Investment Contributions
INDEX ｜2 MTP2026 – Investment Contributions ⚫ MTP 2026 Investments : Steadily making new investments and expanding earnings contributions from completed investments to strengthen the growth foundation toward Next Stage ⚫ MTP2020 and 2023 Investments : Following the decision to sell the Australian co
Slide 24: Investments and Asset Replacement
INDEX ｜2 Investments and Asset Replacement Total Investments JPY96.0bn ● Public transportation business in Australia (UGL Transport Holdings Pty Ltd.) Essential infrastructure JPY41.0bn ● Energy solutions business in the U.S. (Deca Electric, LLC) ● Infrastructure development business in Australia (C
Slide 25: Commodity Prices, Foreign Exchange, and Interest Rate
INDEX ｜2 Commodity Prices, Foreign Exchange, and Interest Rate FY25 Results FY26 Assumption FY26 Results Latest Data (Apr. - Sep. Avg.) (Annual Avg.) (Apr. - Sep. Avg.) （As of Oct. 26, 2026） Coking coal *1 US$184/t US$210/t US$243/t US$267/t *1 Thermal coal US$105/t US$120/t US$135/t US$154/t Crude
Slide 26: Segment Information
INDEX｜3 Segment Information * Effective April 1, 2026, Sojitz Group reorganized several segments and changed its reporting figures for FY2025.
Slide 27: Automotive
INDEX ｜3 Automotive Summary The Sojitz Growth Story (Profit for the period) Main Factors of Difference FY25 FY26 Difference in Profit for the Period FY25 FY26 Forecast Next Stage (BN JPY） H1 H1 ⚫ Despite earnings contributions from the ・・・ JPY15.0bn automotive sales businesses in Latin Profit JPY(5.
Slide 28: Automotive
INDEX ｜3 Automotive Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative Principal countries of operation (BN JPY) differences in H1) Automotive Sales Business by Region Japan, the Philippines, Pakistan Japan
Slide 29: Aerospace & Transportation Infrastructure
INDEX ｜3 Aerospace & Transportation Infrastructure Summary The Sojitz Growth Story (Profit for the period) FY25 FY26 Main Factors of Difference FY25 FY26 Forecast Next Stage Difference (BN JPY） H1 H1 in Profit for the Period Profit JPY15.5bn JPY19.0bn ・・・ JPY25.0bn ⚫ Despite the start of earnings co
Slide 30: Aerospace & Transportation Infrastructure
INDEX ｜3 Aerospace & Transportation Infrastructure Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Equity Accounting Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative differences Major businesses ownership in H1) Period （BN JPY） Transportation vessel as
Slide 31: Energy Solutions & Public Infrastructure
INDEX ｜3 Energy Solutions & Public Infrastructure Summary The Sojitz Growth Story (Profit for the period) FY25 FY26 Main Factors of Difference FY25 FY26 Forecast Next Stage Difference (BN JPY） H1 H1 in Profit for the Period ⚫ Growth in transactions in energy Profit JPY32.3bn JPY28.0bn ・・・ JPY50.0bn
Slide 32: Energy Solutions & Public Infrastructure
INDEX ｜3 Energy Solutions & Public Infrastructure Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Equity Accounting Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative Major businesses ownership Period （ BN JPY） differences in H1) Infrastructure and publi
Slide 33: Metals, Mineral Resources & Recycling
INDEX ｜3 Metals, Mineral Resources & Recycling Summary The Sojitz Growth Story (Profit for the period) FY25 FY26 Main Factors of Difference FY25 FY26 Forecast Next Stage Difference (BN JPY） H1 H1 in Profit for the Period ⚫ Increased due to the net impact of Profit JPY3.8bn JPY22.0bn ・・・ JPY35.0bn ga
Slide 34: Metals, Mineral Resources & Recycling
INDEX ｜3 Metals, Mineral Resources & Recycling Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Equity Accounting Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative Major businesses ownership Period （ BN JPY） differences in H1) Investment in coal mines in
Slide 35: Chemicals
INDEX ｜3 Chemicals Summary The Sojitz Growth Story (Profit for the period) FY25 FY26 Main Factors of Difference Difference FY25 FY26 Forecast Next Stage H1 H1 in Profit for the Period (BN JPY） Profit JPY21.0bn JPY32.0bn ・・・ JPY35.0bn ⚫ Increased significantly due to higher methanol prices, earnings
Slide 36: Chemicals
INDEX ｜3 Chemicals Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Equity Accounting Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative Major businesses ownership Period （ BN JPY） differences in H1) Manufacture and sales of PT. Kaltim Methanol Industri 8
Slide 37: Consumer Industry & Agriculture Business
INDEX ｜3 Consumer Industry & Agriculture Business Summary The Sojitz Growth Story (Profit for the period) FY25 FY26 Main Factors of Difference Difference FY25 FY26 Forecast Next Stage H1 H1 in Profit for the Period (BN JPY） Profit JPY8.5bn JPY8.0bn ・・・ JPY20.0bn ⚫ Decreased due to a decline in Gross
Slide 38: Consumer Industry & Agriculture Business
INDEX ｜3 Consumer Industry & Agriculture Business Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Equity Accounting Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative Major businesses ownership Period （ BN JPY） differences in H1) Fertilizer businesses -T
Slide 39: Retail & Consumer Service
INDEX ｜3 Retail & Consumer Service Summary The Sojitz Growth Story (Profit for the period) FY25 FY26 Main Factors of Difference Difference FY25 FY26 Forecast Next Stage (BN JPY） H1 H1 in Profit for the Period ⚫ Strong performance in tobacco Profit JPY11.2bn JPY15.0bn ・・・ JPY30.0bn Gross profit 28.7
Slide 40: Retail & Consumer Service
INDEX ｜3 Retail & Consumer Service Profit of Main Subsidiaries and Associates (Excluding one-time factors) FY2025 FY2026 Difference Equity Accounting Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total (Cumulative Major businesses ownership Period （ BN JPY） differences in H1) Wholesale of food products and consumer
Slide 41: Supplemental Information
補足資料｜3 INDEX｜4 Supplemental Information
Slide 42: Shareholder Returns Policy
INDEX｜4 Shareholder Returns Policy Shareholder Returns Policy ※Referred to in MTP2026 Approx. 30% of Core operating CF (3 years total) is allocated to shareholder returns Explanation of Shareholder’s Equity DOE Progressive dividend 4.5% of Shareholder equity Flexible stock repurchase in case of surp
Slide 43: Core Operating Cash Flow (Resource and Non-resource Businesses)
INDEX｜4 Core Operating Cash Flow (Resource and Non-resource Businesses) ⚫ Steady improvement in both quality and quantity of track record for generating cash flows ⚫ Increased proportion of earnings from non-resource businesses as stable sources of profit, driven by portfolio rebalancing through new
Slide 44: PL Summary
INDEX｜4 PL Summary FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (BN JPY) Net sales 3,745.5 4,209.1 ー ー ー ー ー ー ー ー (JGAAP) Revenue 1,555.3 1,816.5 1,856.2 1,754.8 1,602.5 2,100.8 2,479.8 2,414.6 2,509.7 2,757.4 Gross profit 200.7 232.4 241.0 220.5 188.1 271.3 337.6 326.0 346.8 367.5 Operating p
Slide 45: PL Summary
INDEX｜4 PL Summary Profit for the year (JPY BN) ROA (%) ROE (%) 111.2 110.6 103.6 100.8 12.2 14.2 11.7 11.4 11.7 82.3 10.0 10.2 10.1 70.4 60.8 7.6 56.8 40.8 4.5 4.2 27.0 3.6 3.7 3.0 3.3 3.1 2.5 2.7 1.9 1.2 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Copyright © Sojitz Corporation 2026 45
Slide 46: Balance Sheets Summary
INDEX｜4 Balance Sheets Summary Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, (BN JPY) 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Current assets 1,229.8 1,376.3 1,267.7 1,217.5 1,195.4 1,394.2 1,444.5 1,462.5 1,575.1 1,928.4 Cash and cash equivalents
Slide 47: Balance Sheets Summary
INDEX｜4 Balance Sheets Summary (BN JPY) Net Interest-Bearing Debt Total Equity Net DER (Times) 1.11 1.03 1.06 0.99 1.06 0.95 0.92 0.95 0.75 0.75 1,090.4 1,039.6 969.0 924.1 887.2 837.7 770.2 728.0 697.3 619.0 611.1 603.5 618.2 613.2 610.6 629.4 586.4 584.7 579.1 550.5 Mar. 31, 2017 Mar. 31, 2018 Mar
Slide 48: Financial Summary
INDEX｜4 Financial Summary Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, Mar. 31, 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (BN JPY) Total assets 2,138.5 2,350.4 2,297.1 2,230.3 2,300.1 2,661.7 2,660.8 2,886.9 3,087.3 3,648.0 Total equity 550.5 586.4 618.2 5
Slide 49: Cash Flow Summary
INDEX｜4 Cash Flow Summary FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (BN JPY) Core CF 5.5 (56.7) 63.1 1.3 (8.0) 10.5 135.6 (62.8) (31.8) (27.9) Free CF (31.3) 12.4 54.3 4.8 49.3 (73.7) 200.8 124.6 (110.8) (69.8) Core operationg CF 59.4 82.9 79.1 80.2 60.2 128.7 145.2 109.2 135.2 136.4 Cash fl
Slide 50: Cash Flow Summary
INDEX｜4 Cash Flow Summary (BN JPY) CF from operating activities CF from investing activities FCF 200.8 29.2 171.6 124.6 12.4 112.2 98.8 96.5 85.0 65.1 54.3 49.3 16.8 0.9 40.5 (16.7) (31.3) 12.4 4.8 (42.2) (35.7) (94.1) (86.6) (32.2) (35.7) (86.4) (73.7) (69.8) (110.8) (138.8) FY16 FY17 FY18 FY19 FY2
Slide 51: Cash Flow Summary
INDEX｜4 Cash Flow Summary Core operating CF Core CF (BN JPY) 145.2 135.2 136.4 128.7 135.6 109.2 82.9 79.1 80.2 59.4 60.2 63.1 10.5 5.5 1.3 (8.0) (31.8) (27.9) (56.7) (62.8) FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Copyright © Sojitz Corporation 2026 51
Slide 52: Caution regarding Forward-looking Statements and Original Language
Caution regarding Forward-looking Statements and Original Language This document contains forward-looking statements based on information available to the company at the time of disclosure and certain assumptions that management believes to be reasonable. Sojitz makes no assurances as to the actual