Mitsui & Co Ltd: 3rd Quarter Results

  Mitsui & Co Ltd: 3rd Quarter Results

UK Regulatory Announcement

LONDON

This announcement is for our U.S.$5,000,000,000 Euro Medium Term Note
Programme authorised by UKLA.

Consolidated Financial Results for the Nine-Month Period Ended December 31,
2012

[Based on accounting principles generally accepted in the United States of
America ("U.S. GAAP")]

Tokyo, February 4, 2013 - Mitsui & Co., Ltd. announced its consolidated
financial results for the nine-month period ended December 31, 2012.

Mitsui & Co., Ltd. and subsidiaries

(Website : http://www.mitsui.com/jp/en/)

President and Chief Executive Officer: Masami Iijima

Investor Relations Contacts: Kenichi Hori, General Manager, Investor Relations
Division TEL 81-3-3285-7533

1. Consolidated financial results (Unreviewed)

(1) Consolidated operating results information for the nine-month period ended
December 31, 2012

(from April 1, 2012 to December 31, 2012)

                                       Nine-month period ended
                                    
                                       December 31,
                                       2012              2011       
                                                %                   %
Revenues                 Millions of   3,576,461   △ 9.4    3,946,819   17.0
                         yen
Income before Income     Millions of
Taxes and Equity in      yen           246,317     △ 25.9   332,465     20.6
Earnings
Net income               Millions of
attributable to Mitsui   yen           253,909     △ 25.4   340,248     23.4
& Co., Ltd.
Net income
attributable to Mitsui   Yen           139.13               186.46
& Co., Ltd. per share,
basic
Net income
attributable to Mitsui   Yen           ―                   186.45      
& Co., Ltd. per share,
diluted
                                                                             

Notes:

1.Percentage figures for Revenues, Income before Income Taxes and Equity in
Earnings, and Net income attributable to Mitsui & Co., Ltd. represent changes
from the previous year.

2.Comprehensive Income for the nine-month periods ended December 31, 2012 and
2011 were ¥333,592 million (150.0%) and ¥133,425 million (20.2%),
respectively.

3.Diluted net income attributable to Mitsui & Co., Ltd. per share for the
period ended December 31, 2012 is not disclosed as there are no dilutive
potential shares.

(2) Consolidated financial position information
                                                        
                                     December     March 31,
                                       31, 2012     2012
Total assets             Millions of   9,825,384    9,011,823
                         yen
Total equity (net        Millions of   3,121,964    2,860,810
worth)                   yen
Mitsui & Co., Ltd.       Millions of   2,882,831    2,641,318
shareholders' equity     yen
Mitsui & Co., Ltd.
shareholders' equity     %             29.3         29.3
ratio
Mitsui & Co., Ltd.
shareholders' equity     Yen           1,579.68     1,447.34
per share
                                                                             
2. Dividend
information
                                                             
                                                                 Year ending
                                                                 March 31,
                                       Year ended March 31,      2013
                                                                 (Forecast)

                                                                 
                                     2013         2012         
Interim dividend per     Yen           22           27           
share
Year-end dividend per    Yen                       28           21
share
Annual dividend per      Yen                       55           43
share
                                                                             

3. Forecast of consolidated operating results for the year ending March 31,
2013 (from April 1, 2012 to March 31, 2013)

                                                          Year ending
                                                              March 31, 2013
Net income attributable to Mitsui & Co.,    Millions of yen   310,000
Ltd.
Net income attributable to Mitsui & Co.,    Yen               169.87
Ltd. per share, basic
                                                                             

Note :

We maintain our forecast of net income attributable to Mitsui & Co., Ltd. for
the year ending March 31, 2013 of ¥310.0 billion announced on November 2, 2012
together with the results for the six-month period ended September 30, 2012.

4. Others

(1) Increase/decrease of important subsidiaries during the period: Yes

New: 1 company (MMRD Gama Limitada)

(2) Number of shares:

                                    December 31, 2012   March 31, 2012
Number of shares of common stock      1,829,153,527        1,829,153,527
issued, including treasury stock
Number of shares of treasury stock    4,209,459            4,204,441
                                                                             
                                      Nine-month period    Nine-month period
                                     ended                ended
                                      December 31, 2012    December 31, 2011
Average number of shares of common    1,824,947,107        1,824,825,581
stock outstanding
                                                                             

Disclosure Regarding Quarterly Review Procedures

As of the date of disclosure of this quarterly earnings report, a review of
the quarterly financial statements is being carried out in accordance with the
Financial Instruments and Exchange Act.

A Cautionary Note on Forward-Looking Statements:

This report contains forward-looking statements including those concerning
future performance of Mitsui & Co., Ltd. (“Mitsui”), and these statements are
based on Mitsui’s current assumptions, expectations and beliefs in light of
the information currently possessed by it.

It is not the intention of Mitsui to undertake to realize these statements,
and various factors may cause Mitsui’s actual results to be materially
different from any future performance expressed or implied by these
forward-looking statements.

For key assumptions on which the statements concerning future performance are
based, please refer to “(4) Forecasts for the year ending March 31, 2013” on
p.17. For cautionary notes with respect to forward-looking statements, please
refer to the “Notice” section on p.18.

Supplementary materials and IR meeting on financial results:

Supplementary materials on financial results can be found on our website.

We will hold an IR meeting on financial results for analysts and institutional
investors on February 4, 2013.

Contents of the meeting (English and Japanese) will be posted on our web site
immediately after the meeting.

                                                                      
                                                                            
Table of Contents
                                                                            
1. Qualitative Information
(1) Operating Environment                                                   2
(2) Results of Operations                                                   2
(3) Financial Condition and Cash Flows                                      14
(4) Forecasts for the Year Ending March 31, 2013                            17
                                                                            
2. Other Information                                                        18
                                                                            
3. Consolidated Financial Statements
(1) Consolidated Balance Sheets                                             20
(2) Statements of Consolidated Income and Comprehensive Income              22
(Loss)
(3) Statements of Consolidated Cash Flows                                   23
(4) Assumption for Going Concern                                            24
(5) Significant Changes in Shareholder’s Equity                             24
(6) Operating Segment Information                                           24
                                                                            
                                                                            

1. Qualitative Information

As of the date of disclosure of this quarterly earnings report, a review of
the quarterly financial statements is being carried out in accordance with the
Financial Instruments and Exchange Act.

(1) Operating Environment

During the nine-month period ended December 31, 2012, the global economy is
showing signs of modest improvement as the condition of financial markets
began to show some stability, but we still believe that the current operating
environment poses many challenges including the continuing negative economic
growth in Europe, with spillover effects to the emerging economies. The
volatility levels of some of the financial markets such as foreign exchanges
and equities, and the international commodities appear to have increased, as
the risk tolerance of investors seem to be rising.

Due to the growth in consumer spending backed by the solid job growth and
improved prospects for housing markets and stock prices, economic activities
in the U.S. are picking up. While uncertainty remains for the full resolution
of the financial crisis in Europe, in Japan, positive effects of the
significant stimulus package and additional monetary easing are seen and
anticipated to continue on in the short term.

Regarding China, manufacturing activities seems to have bottomed out supported
by the growth in export volume, along with the monetary policy easing and
stimulus package in place. We cautiously anticipate that China will sustain
the relatively high growth rates and continue to be the key force for global
recovery.

We maintain our view that the global economy will continue to grow at a
moderate rate driven by reasonable growth in the emerging economies and the
coordinated global policy easing. However, we expect that the current
challenges in the operating environment will continue for some time and that
we should not underestimate the uncertainties we face in assessing global
recovery. We will further intensify our monitoring activities of these risks
and reinforce our disciplined approach in conducting our businesses.

(2) Results of Operations

1) Analysis of Consolidated Income Statements

Revenues

Mitsui & Co., Ltd. (“Mitsui”) and its subsidiaries (collectively “we”)
recorded total revenues of ¥3,576.5 billion for the nine-month period ended
December 31, 2012, a decline of ¥370.3 billion from ¥3,946.8 billion for the
corresponding nine-month period of the previous year.

Revenues from sales of products for the nine-month period ended December 31,
2012 were ¥3,209.7 billion, a decline of ¥370.8 billion from ¥3,580.5 billion
for the corresponding nine-month period of the previous year, as a result of
the following:

  *The Energy Segment reported a decline of ¥180.6 billion. Petroleum trading
    activities recorded a decline of ¥212.5 billion due to deterioration of
    market conditions, while an increase of ¥33.7 billion was recorded in oil
    and gas producing activities due to an increase in both volume and oil
    prices.
  *The Chemicals Segment reported a decline of ¥164.0 billion mainly due to
    underperforming trading activities in petrochemical intermediate materials
    as well as fertilizer resources and materials.
  *The Mineral & Metal Resources Segment reported a decline of ¥48.7 billion
    mainly attributable to a decline in iron ore prices.
  *The Lifestyle Segment reported an increase of ¥25.1 billion. Multigrain AG
    (Switzerland) contributed to the increase as a result of its
    reclassification from associated company to subsidiary during the
    three-month period ended September 30, 2011.

Revenues from sales of services for the nine-month period ended December 31,
2012 were ¥280.6 billion, an increase of ¥8.5 billion from ¥272.1 billion for
the corresponding nine-month period of the previous year.

Revenues from other sales for the nine-month period ended December 31, 2012
were ¥86.1 billion, a decrease of ¥8.1 billion from ¥94.2 billion for the
corresponding nine-month period of the previous year. Mitsui recorded losses
and gains in revenues related to the commodity derivatives trading business,
which correspond to foreign exchange gains of ¥4.0 billion and ¥1.5 billion
posted in other expense-net for the nine-month period ended December 31, 2012
and 2011, respectively.

Gross Profit

Gross profit for the nine-month period ended December 31, 2012 was ¥574.3
billion, a decline of ¥102.8 billion from ¥677.1 billion for the corresponding
nine-month period of the previous year as a result of the following:

  *The Mineral & Metal Resources Segment reported a decline of ¥46.9 billion
    in gross profit. Mitsui Iron Ore Development Pty. Ltd. (Australia)
    reported a decline of ¥30.9 billion reflecting the decline in iron ore
    prices, which was partially offset by the positive effect of increases in
    sales volume led by both the effect of incremental capacity and the
    reversal effect of unseasonably wet weather for the corresponding
    nine-month period of the previous year. Mitsui-Itochu Iron Pty. Ltd.
    (Australia) also recorded a decline of ¥14.0 billion due to the decline in
    iron ore prices.
  *The Energy Segment reported a decline of ¥24.3 billion in gross profit.
    Mitsui Coal Holdings Pty. Ltd. (Australia) reported a decline of ¥26.3
    billion due to lower coal prices, in spite of the reduction in production
    costs. A decline in gross profit of ¥8.3 billion in petroleum trading
    activities was recorded due to deterioration of market conditions.
    Although the volume increased, Mitsui E&P USA LLC (United States) reported
    a decline of ¥10.4 billion due to an increase in depreciation costs as
    well as a decline in gas prices in the U.S. Meanwhile, Mitsui Oil
    Exploration Co., Ltd. (Japan) reported an increase of ¥16.4 billion due to
    increases in both volume and oil prices; Mitsui E&P Middle East B. V.
    (Netherlands) reported an increase of ¥3.3 billion due to an increase in
    volume; and Mitsui E&P Texas LP (United States) recorded an increase of
    ¥5.3 billion.
  *The Lifestyle Segment reported a decline of ¥8.6 billion in gross profit.
    The main cause of the decline included the reversal effect of ¥4.6 billion
    mark-to-market valuation gains on commodity derivative contracts related
    to coffee for the corresponding nine-month period of the previous year, as
    well as a ¥5.8 billion decline recorded at Multigrain AG, reflecting a
    drop in the soybean and cotton harvest affected by the drought in Brazil.
  *The Americas Segment reported a decline of ¥5.7 billion in gross profit.
    Novus International, Inc. (United States) reported a decline of ¥5.8
    billion due to a decline in sales price despite the increase in sales
    volume of methionine, as well as a write-down on inventories of feed
    additives other than methionine.
  *The Innovation & Cross Function Segment reported a decline of ¥5.7 billion
    in gross profit. Mitsui & Co. Commodity Risk Management Ltd. (United
    Kingdom) posted a decline of ¥4.8 billion due to underperforming
    derivatives trading. Gross profits corresponding to foreign exchange gains
    of ¥4.0 billion and ¥1.5 billion related to the commodity derivatives
    trading business at Mitsui posted in other expenses-net were included in
    gross profit for the nine-month period ended December 31, 2012 and for the
    corresponding nine-month period of the previous year, respectively.
  *The Iron & Steel Products Segment reported a decline of ¥5.3 billion in
    gross profit, due to weaker demand and lower prices in emerging markets
    including Asia; sluggish domestic sales; and reduction in export volumes
    from Japan caused by the appreciation of Japanese yen.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for the nine-month period ended
December 31, 2012 were ¥382.0 billion, an increase of ¥3.1 billion from ¥378.9
billion for the corresponding nine-month period of the previous year. The
table below provides a breakdown of selling, general and administrative
expenses used for our internal review.

The table below provides selling, general and administrative expenses broken
down by operating segment.

Effective April 1, 2012, we changed our reportable operating segments.
Starting from the nine-month period ended December 31, 2012, the headquarters’
cost allocation system was changed from partial allocation to full allocation
to the operating segments. For more information, see 2) Operating Results by
Operating Segment.

Provision for Doubtful Receivables

Provision for doubtful receivables for the nine-month period ended December
31, 2012 was ¥9.4 billion, an increase of ¥0.6 billion from ¥8.8 billion for
the corresponding nine-month period of the previous year. The provisions for
both periods represented aggregated reserves for individually small
receivables.

Interest Income (Expense)—Net

Interest income, net of interest expense, for the nine-month period ended
December 31, 2012 was ¥1.4 billion, an improvement of ¥5.3 billion from ¥3.9
billion of expense for the corresponding nine-month period of the previous
year. Income increased by ¥5.6 billion mainly attributable to the deferred
commitment fee related to the loan extended to the subsidiary of Corporación
Nacional del Cobre de Chile ("Codelco") recorded for the nine-month period
ended December 31, 2012. The following table provides the periodic average of
3 month Tibor of the Japanese yen and 3 month Libor of the U.S. dollar for the
nine-month periods ended December 31, 2012 and 2011.

Periodic average of 3 month rate (%p.a.)
                 Nine-month period
                   ended December 31,
                 2012         2011
Japanese yen      0.33         0.34
U.S. dollar        0.39          0.36
                                 

Dividend Income

Dividend income for the nine-month period ended December 31, 2012 was ¥62.0
billion, an increase of ¥10.6 billion from ¥51.4 billion for the corresponding
nine-month period of the previous year. Dividends from six LNG projects (Abu
Dhabi, Oman, Qatargas 1 and 3, Equatorial Guinea and Sakhalin II) were ¥48.1
billion in total, an increase of ¥11.0 billion from the corresponding
nine-month period of the previous year, reflecting an increase in dividends
received from the Sakhalin II project.

Gain on Sales of Securities—Net

Gain on sales of securities for the nine-month period ended December 31, 2012
was ¥36.6 billion, an increase of ¥22.0 billion from ¥14.6 billion for the
corresponding nine-month period of the previous year.

  *For the nine-month period ended December 31, 2012, an ¥8.0 billion gain on
    the sale of shares in Mikuni Coca-Cola Bottling Co., Ltd.; a ¥4.8 billion
    gain on the sale of shares in Nihon Unisys, Ltd.; a ¥4.4 billion gain on
    the sale of shares in LME Holdings Limited; a ¥4.2 billion gain on the
    sale of shares in INPEX CORPORATION; and a ¥3.1 billion gain on the sale
    of shares in MED3000 Group, Inc. were recorded, respectively. Furthermore,
    MBK Healthcare Partners Limited (United Kingdom) recorded a ¥5.5 billion
    gain related to equity dilution in IHH Healthcare Bhd. (Malaysia) (*1) The
    relevant gain includes a ¥5.3 billion gain due to the dilution of MBK
    Healthcare Partners Limited’s stake in IHH Healthcare Bhd. from 26.63% to
    20.48% reflecting the issuance of new shares by IHH Healthcare Bhd. upon
    its initial public offering on the Bursa Malaysia and Singapore Exchange
    in July 2012 (*2).
  *For the corresponding nine-month period of the previous year, a
    remeasurement gain of ¥3.6 billion on existing interests resulting from
    acquisition of the entire stake in Multigrain AG was recorded.

(*1) IHH Healthcare Bhd. changed its name from Integrated Healthcare Holdings
Sdn. Bhd. on April 20, 2012.

(*2) MBK Healthcare Partners Limited recorded a ¥1.9 billion gain related to
equity dilution in IHH Healthcare Bhd. in connection with the acquisition of
Acibadem Saglik Yatirimlari Holding for the three-month period ended June 30,
2012. In the six-month period ended September 30, 2012, the gain was revised
to ¥0.3 billion.

Loss on Write-Downs of Securities

Loss on write-downs of securities for the nine-month period ended December 31,
2012 was ¥21.3 billion, an improvement of ¥0.7 billion from ¥22.0 billion for
the corresponding nine-month period of the previous year.

  *Due to a decline in share price, impairment losses on listed securities of
    ¥4.9 billion in an iron & steel company and ¥3.0 billion in Mitsui
    Chemicals Inc. were recorded for the nine-month period ended December 31,
    2012. An impairment loss of ¥4.5 billion on preferred shares of Valepar
    S.A., reflecting an other-than-temporary decline related to the foreign
    exchange translation loss in the investment value of the current portion
    of the preferred shares, was recorded.
  *For the corresponding nine-month period of the previous year, an
    impairment loss of ¥4.1 billion on preferred shares of Valepar S.A. was
    recorded in the same manner as the nine-month period ended December 31,
    2012. An impairment loss of ¥4.0 billion on shares in Formosa Epitaxy
    Incorporation was recorded as well.

Gain (Loss) on Disposal or Sales of Property and Equipment—Net

Gain on disposal or sales of property and equipment—net for the nine-month
period ended December 31, 2012 was ¥1.9 billion, a decline of ¥3.1 billion
from ¥5.0 billion for the corresponding nine-month period of the previous
year. There were miscellaneous small transactions for the nine-month period
ended December 31, 2012. For the corresponding nine-month period of the
previous year, a ¥4.5 billion gain on sale of unused land in Japan was
recorded.

Impairment Loss of Long-Lived Assets

Impairment loss of long-lived assets for the nine-month period ended December
31, 2012 was ¥1.8 billion, an improvement of ¥3.4 billion from ¥5.2 billion
for the corresponding nine-month period of the previous year. There were
miscellaneous small impairments in both periods.

Impairment Loss of Goodwill

There was no impairment loss of goodwill for the nine-month period ended
December 31, 2012, and ¥2.3 billion of impairment loss of goodwill consisting
of miscellaneous small impairments was recorded for the corresponding
nine-month period of the previous year.

Other Expenses (Income)—Net

Other expense—net for the nine-month period ended December 31, 2012 was ¥15.3
billion, a deterioration of ¥20.7 billion from income of ¥5.4 billion for the
corresponding nine-month period of the previous year.

  *For the nine-month period ended December 31, 2012, exploration expenses
    totaled ¥22.7 billion including those recorded at oil and gas producing
    businesses. Mitsui Oil Exploration Co., Ltd. recorded a foreign exchange
    translation gain of ¥4.6 billion related to foreign currency deposits.
    Meanwhile, Mitsui recorded foreign exchange losses of ¥13.0 billion,
    including a foreign exchange gain of ¥4.0 billion in the commodity
    derivatives trading business in the Innovation & Cross Function Business
    Segment, which corresponded to related revenues in the same segment, as
    well as valuation losses of ¥ 4.0 billion on foreign exchange forward
    contracts for trade settlements in the Iron & Steel Products Segment.
  *For the corresponding nine-month period of the previous year, Mitsui
    recorded foreign exchange gains of ¥2.9 billion and Shark Bay Salt Pty.
    Ltd. recorded a gain of ¥5.8 billion in other income-net as consideration
    for releasing a part of the mining lease area to support the progress of
    an LNG project in the vicinity of the salt field. Meanwhile, exploration
    expenses of ¥14.3 billion in total were recorded, including those at oil
    and gas producing businesses.

Income Taxes

Income taxes for the nine-month period ended December 31, 2012 were ¥111.6
billion, a decline of ¥29.9 billion from ¥141.5 billion for the corresponding
nine-month period of the previous year. Major factors contributing to the
decline were declines in “income before income taxes and equity in earnings”
and “equity earnings of associated companies-net,” while a ¥21.5 billion
one-time positive impact was recorded in the corresponding nine-month period
of the previous year, mainly consisting of a reversal of deferred tax
liabilities on undistributed retained earnings of associated companies caused
by the reduction of the Japanese corporate income tax rate. Reversal of
deferred tax liabilities related to dividends received from the undistributed
retained earnings of associated companies for the nine-month period ended
December 31, 2012 was approximately ¥25.0 billion, an increase of
approximately ¥10.0 billion from approximately ¥15.0 billion for the
corresponding nine-month period of the previous year.

The effective tax rate on “income from continuing operations before income
taxes and equity in earnings” for the nine-month period ended December 31,
2012 was 45.3%, an increase of 2.7% from 42.6% for the corresponding
nine-month period of the previous year. Major factors for the increase was the
reversal effect of the one-time impact of the aforementioned tax rate
reduction recorded in the corresponding nine-month period of the previous
year, while factors for the decrease includes the positive factor of the
aforementioned increase in reversal of deferred tax liabilities related to
dividends received from the undistributed retained earnings of associated
companies.

Equity in Earnings of Associated Companies—Net

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥135.6 billion, a decline of ¥40.7 billion from ¥176.3
billion for the corresponding nine-month period of the previous year as a
result of the following:

  *A decline of ¥51.6 billion was recorded at Valepar S.A. (Brazil), mainly
    due to a decline in iron ore prices and impairment losses on nickel and
    aluminium assets.
  *Earnings at Robe River Mining Co. Pty. Ltd. (Australia) reported a decline
    of ¥11.3 billion, due to the decline in iron ore prices, which was
    partially offset by the positive effect of an increase in sales volume led
    by both the effect of incremental capacity and the reversal effect of
    unseasonably wet weather for the corresponding nine-month period of the
    previous year.
  *Compañía Minera Doña Inés de Collahuasi SCM (Chile) reported a decline of
    ¥7.6 billion, mainly due to a decline in sales volume.
  *Overseas power production businesses reported a decline of ¥7.5 billion
    due to a decline of ¥7.6 billion in mark-to-market valuation gains and
    losses such as those on power derivative contracts and fuel purchase
    contracts.
  *Due to the dilution of ownership interest in Vale Nouvelle-Calédonie
    S.A.S. held by SUMIC Nickel Netherlands B.V., a ¥9.2 billion gain on the
    equity dilution was recorded.
  *Due to a decline in share price, impairment losses on investments of ¥32.3
    billion in total, including ¥18.3 billion for TPV Technology Limited, ¥6.7
    billion for Moshi Moshi Hotline, Inc. and ¥6.0 billion for Nihon Unisys,
    Ltd., were recorded in equity earnings of associated companies-net for the
    corresponding nine-month period of the previous year. In addition to the
    impairment loss of ¥6.0 billion in investment, equity in losses of ¥3.1
    billion was recorded at Nihon Unisys, Ltd. mainly due to the setting up of
    valuation allowances for its deferred tax assets for the nine-month period
    ended December 31, 2011.

Net Income attributable to Noncontrolling Interests

Net income attributable to noncontrolling interests for the nine-month period
ended December 31, 2012 was ¥16.4 billion, a decline of ¥10.6 billion from
¥27.0 billion for the corresponding nine-month period of the previous year.

Net Income attributable to Mitsui & Co., Ltd.

As a result, net income attributable to Mitsui & Co., Ltd. for the nine-month
period ended December 31, 2012 was ¥253.9 billion, a decline of ¥86.3 billion
from ¥340.2 billion for the corresponding nine-month period of the previous
year.

2) Operating Results by Operating Segment

Effective April 1, 2012, we changed our reportable operating segments. In
accordance with this change, the operating segment information for the
nine-month period ended December 31, 2011 has been restated to conform to the
current year presentation. In addition, starting from the nine-month period
ended December 31, 2012, we changed the headquarters’ cost allocation system
from partial allocation to full allocation to the operating segments. The
impact of this change to operating income (loss) and net income (loss)
attributable to Mitsui & Co., Ltd. for each operating segment for the
nine-month period ended December 31, 2012 was as follows:

                                     Impact on          Impact on Net income
(Billions of yen)                                     (Loss)
                                     Operating Income   attributable to Mitsui
                                     (Loss)             & Co., Ltd.
Iron & Steel Products                (1.5)              (1.1)
Mineral & Metal Resources            (8.1)              (6.1)
Machinery & Infrastructure           (5.6)              (4.2)
Chemicals                            (3.5)              (2.6)
Energy                               (7.7)              (5.7)
Lifestyle                            (5.7)              (4.2)
Innovation & Cross Function          (3.0)              (2.2)
Americas                             0                  0
Europe, the Middle East and Africa   0                  0
Asia Pacific                         0                  0
All Other/Adjustments and            35.0               26.1
Eliminations
Consolidated total                   0                  0
                                                        

Iron & Steel Products Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥27.3
billion, a decline of ¥5.3 billion from ¥32.6 billion for the corresponding
nine-month period of the previous year. The main cause of the decline was
weaker demand and lower prices in emerging markets including Asia; sluggish
domestic sales; and reduction in export volumes from Japan caused by the
appreciation of Japanese yen.

Operating income for the nine-month period ended December 31, 2012 was ¥0.7
billion, a decline of ¥7.2 billion from ¥7.9 billion for the corresponding
nine-month period of the previous year.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥1.4 billion, a decline of ¥1.3 billion from ¥2.7
billion for the corresponding nine-month period of the previous year.

Net loss attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥7.1 billion, a decline of ¥14.5 billion from net income
of ¥7.4 billion for the corresponding nine-month period of the previous year.
In addition to the above-mentioned factors, the following factors also
affected results:

  *For the nine-month period ended December 31, 2012, this segment recorded
    an impairment loss of ¥4.3 billion on listed securities in an iron & steel
    company reflecting the decline in share price.
  *Valuation losses of ¥ 4.0 billion on foreign exchange forward contracts
    for trade settlements were recorded for the nine-month period ended
    December 31, 2012.

Mineral & Metal Resources Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥111.5
billion, a decline of ¥46.9 billion from ¥158.4 billion for the corresponding
nine-month period of the previous year. The main factor behind the decline was
the decrease in iron ore prices.

The majority of contract prices applied for products sold during the
corresponding nine-month period of the previous year was based on a daily
average of spot reference prices during the nine-month period starting from
December 1, 2010 through August 31, 2011.

However, reflecting the transition to a more diversified sales contract
portfolio starting from the three-month period ended December 31, 2011, the
majority of contract prices applied for products sold during the nine-month
period ended December 31, 2012 was based on pricing that reflects current spot
reference prices, such as a daily average of spot reference prices for the
current quarter of shipment and a daily average of spot reference prices for
the shipment month.

Mitsui Iron Ore Development Pty. Ltd. reported a decline of ¥30.9 billion in
gross profit reflecting the decline in iron ore prices, which was partially
offset by the positive effect of increases in sales volume led by both the
effect of incremental capacity and the reversal effect of unseasonably wet
weather for the corresponding nine-month period of the previous year.
Mitsui-Itochu Iron Pty. Ltd. also recorded a decline of ¥14.0 billion due to
the decline in iron ore prices.

Operating income for the nine-month period ended December 31, 2012 was ¥85.1
billion, a decline of ¥56.7 billion from ¥141.8 billion for the corresponding
nine-month period of the previous year. In addition to a decline in gross
profit, selling, general and administrative expenses increased.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥38.6 billion, a decline of ¥70.5 billion from ¥109.1
billion for the corresponding nine-month period of the previous year. Major
factors were as follows:

  *Valepar S.A. posted earnings of ¥6.2 billion, a decline of ¥51.6 billion
    from ¥57.8 billion for the corresponding nine-month period of the previous
    year, mainly due to a decline in iron ore prices and impairment losses on
    nickel and aluminium assets.
  *Earnings at Robe River Mining Co. Pty. Ltd. were ¥23.5 billion, a decline
    of ¥11.3 billion from ¥34.8 billion for the corresponding nine-month
    period of the previous year, due to the decline in iron ore prices, which
    was partially offset by the positive effect of an increase in sales volume
    led by both the effect of incremental capacity and the reversal effect of
    unseasonably wet weather for the corresponding nine-month period of the
    previous year.
  *Compañía Minera Doña Inés de Collahuasi SCM recorded earnings of ¥3.0
    billion, a decline of ¥7.6 billion from ¥10.6 billion for the
    corresponding nine-month period of the previous year mainly due to a
    decline in sales volume.
  *Due to the dilution of ownership interest in Vale Nouvelle-Calédonie
    S.A.S. held by SUMIC Nickel Netherlands B.V., a ¥9.2 billion gain on the
    equity dilution was recorded.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥76.7 billion, a decline of ¥84.1 billion from ¥160.8
billion for the corresponding nine-month period of the previous year. In
addition to the above-mentioned factors, the following factors also affected
results:

  *For the nine-month period ended December 31, 2012, the deferred commitment
    fee related to the loan extended to the subsidiary of Codelco was recorded
    on interest income.
  *For the corresponding nine-month period of the previous year, a ¥10.2
    billion one-time positive impact was recorded in income taxes due to the
    reduction of the Japanese corporate income tax rate. The main cause of the
    positive impact was the reversal of deferred tax liabilities on
    undistributed retained earnings of associated companies.

Machinery & Infrastructure Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥71.0
billion, an increase of ¥4.0 billion from ¥67.0 billion for the corresponding
nine-month period of the previous year.

  *The Infrastructure Projects Business Unit reported a decline of ¥1.7
    billion.
  *The Motor Vehicles & Construction Machinery Business Unit reported an
    increase of ¥2.0 billion. Mining and construction machinery-related
    businesses in the Americas achieved a solid performance.
  *The Marine & Aerospace Business Unit reported an increase of ¥3.6 billion
    due to a reversal effect of a loss allowance for vessels under
    construction recorded in the corresponding nine-month period of the
    previous year.

Operating loss for the nine-month period ended December 31, 2012 was ¥9.8
billion, a deterioration of ¥3.9 billion from ¥5.9 billion for the
corresponding nine-month period of the previous year. Despite the increase in
gross profit, selling, general and administrative expenses increased.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥20.5 billion, a decline of ¥9.2 billion from ¥29.7
billion for the corresponding nine-month period of the previous year.

  *The Infrastructure Projects Business Unit reported a decline of ¥8.4
    billion. Overseas power producers reported equity in earnings of ¥4.4
    billion in total, a decline of ¥6.9 billion from ¥11.3 billion for the
    corresponding nine-month period of the previous year. Mark-to-market
    valuation gains and losses, such as those on long-term power derivative
    contracts and long-term fuel purchase contracts, declined by ¥7.1 billion
    to a loss of ¥5.4 billion from a gain of ¥1.7 billion for the
    corresponding nine-month period of the previous year. The major cause of
    the decline was a reversal of valuation gains at Paiton 3 as a result of
    the application of the lease accounting associated with the commencement
    of commercial operation, and the reversal effect of valuation gains due to
    a rise in gas prices in the United Kingdom for the corresponding
    nine-month period of the previous year.
  *The Motor Vehicles & Construction Machinery Business Unit reported an
    increase of ¥0.6 billion. Although a motorcycle manufacturing and
    distributing business in Indonesia reported a decline, automotive-related
    businesses in North America and Asia reported an increase.
  *The Marine & Aerospace Business Unit reported a decline of ¥1.3 billion,
    reflecting a reversal effect of the gain on reversal of a loss allowance
    at the LNG vessels chartering business due to market recovery recorded in
    the corresponding nine-month period of the previous year.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥13.0 billion, a decline of ¥5.0 billion from ¥18.0
billion for the corresponding nine-month period of the previous year.

Chemicals Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥46.2
billion, a decline of ¥3.6 billion from ¥49.8 billion for the corresponding
nine-month period of the previous year. This was mainly due to underperforming
trading activities of fertilizer resources and materials as well as
petrochemical intermediate materials.

Operating income for the nine-month period ended December 31, 2012 was ¥0.8
billion, a decline of ¥7.8 billion from ¥8.6 billion for the corresponding
nine-month period of the previous year. In addition to the decline in gross
profit, selling, general and administrative expenses increased.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥5.2 billion, an increase of ¥0.8 billion from ¥4.4
billion for the corresponding nine-month period of the previous year.

Net loss attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥2.9 billion, a deterioration of ¥13.1 billion from net
income of ¥10.2 billion for the corresponding nine-month period of the
previous year.

In addition to the above-mentioned factors, the following factors also
affected results:

  *For the corresponding nine-month period of the previous year, Shark Bay
    Salt Pty. Ltd. recorded a gain of ¥5.8 billion in other income-net as
    consideration for releasing a part of the mining lease area to support the
    progress of an LNG project in the vicinity of the salt field, which was
    partly offset by its impairment loss of goodwill.
  *For the nine-month period ended December 31, 2012, this segment recorded
    an impairment loss of ¥3.0 billion on listed securities in Mitsui
    Chemicals Inc. reflecting the decline in share price.

Energy Segment

The weighted average crude oil prices applied to our operating results for the
nine-month period ended December 31, 2012 and 2011 were estimated to be US$115
and US$105 per barrel, respectively.

Gross profit for the nine-month period ended December 31, 2012 was ¥142.9
billion, a decline of ¥24.3 billion from ¥167.2 billion for the corresponding
nine-month period of the previous year, primarily due to the following
factors:

  *Mitsui Oil Exploration Co., Ltd. reported an increase of ¥16.4 billion due
    to increases in both oil prices and production volume, and Mitsui E&P
    Middle East B. V. reported an increase of ¥3.3 billion due to an increase
    in production volume. Mitsui E&P Texas LP, which acquired a working
    interest in the Eagle Ford shale project during the three-month period
    ended December 31, 2011, and was consolidated with a three-month time lag,
    recorded a gross profit of ¥5.3 billion.
  *Mitsui Coal Holdings Pty. Ltd. reported a decline of ¥26.3 billion due to
    lower coal prices, in spite of the reduction in production costs.
  *Mitsui E&P USA LLC reported a decline of ¥10.4 billion due to an increase
    in depreciation costs as well as a decline in gas prices in the United
    States, despite an increase in production volume.
  *A decline in gross profit of ¥8.3 billion in petroleum trading activities
    was recorded due to deterioration of market conditions.

Operating income for the nine-month period ended December 31, 2012 was ¥101.8
billion, a decline of ¥32.8 billion from ¥134.6 billion for the corresponding
nine-month period of the previous year. In addition to a decline in gross
profit, selling, general and administrative expenses increased.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥40.8 billion, an increase of ¥1.7 billion from ¥39.1
billion for the corresponding nine-month period of the previous year.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥120.0 billion, a decline of ¥14.0 billion from ¥134.0
billion for the corresponding nine-month period of the previous year. In
addition to the above-mentioned factors, the following factors also affected
results:

  *Dividends from six LNG projects (Abu Dhabi, Oman, Qatargas 1 and 3,
    Equatorial Guinea and Sakhalin II) were ¥48.1 billion in total, an
    increase of ¥11.0 billion from ¥37.1 billion for the corresponding
    nine-month period of the previous year, due mainly to an increase in
    dividends received from the Sakhalin II project.
  *Reversal of deferred tax liabilities on undistributed retained earnings of
    associated companies at the time of profit distribution increased by
    approximately ¥8.5 billion from the corresponding nine-month period of the
    previous year.
  *For the nine-month period ended December 31, 2012, Mitsui Oil Exploration
    Co., Ltd. recorded a gain of ¥4.2 billion on the sale of shares in INPEX
    CORPORATION.
  *For the nine-month period ended December 31, 2012, exploration expenses of
    ¥21.8 billion in total were recorded in other expenses-net, including
    those recorded by Mitsui E&P Mozambique Area 1 Limited (United Kingdom).
    For the corresponding nine-month period of the previous year, exploration
    expenses totaled ¥13.7 billion including those recorded by Mitsui Oil
    Exploration Co., Ltd. and Mitsui E&P Australia Pty Limited (Australia).
  *For the corresponding nine-month period of the previous year, a ¥5.3
    billion one-time positive impact was recorded in income taxes due to the
    reduction of the Japanese corporate income tax rate. The main cause of the
    positive impact was the reversal of deferred tax liabilities on
    undistributed retained earnings of associated companies.

Lifestyle Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥81.5
billion, a decline of ¥8.6 billion from ¥90.1 billion for the corresponding
nine-month period of the previous year.

  *The Food Resources Business Unit reported a decline of ¥8.0 billion.
    Multigrain AG recorded a decline of ¥5.8 billion, reflecting a drop in the
    soybean and cotton harvest affected by the drought in Brazil.
  *The Food Products & Services Business Unit recorded a decline of ¥2.5
    billion, reflecting the reversal effect of ¥4.6 billion mark-to-market
    valuation gains on commodity derivative contracts related to coffee for
    the corresponding nine-month period of the previous year.
  *The Consumer Service Business Unit reported an increase of ¥1.9 billion.

Operating loss for the nine-month period ended December 31, 2012 was ¥1.7
billion, a decline of ¥16.5 billion from operating income of ¥14.8 billion for
the corresponding nine-month period of the previous year. In addition to the
decline in gross profit, selling, general and administrative expenses
increased.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥8.8 billion, an increase of ¥1.5 billion from ¥7.3
billion for the corresponding nine-month period of the previous year.

  *This segment recorded a ¥2.9 billion impairment loss on listed securities
    in Mitsui Sugar Co., Ltd. for the nine-month period ended December 31,
    2012, reflecting the decline in share price.
  *IHH Healthcare Bhd., in which MBK Healthcare Partners Limited invested
    during the three-month period ended June 30, 2011, recorded an increase of
    ¥1.6 billion. MBK Healthcare Partners Limited recognizes equity earnings
    of IHH Healthcare Bhd. with a three-month time lag.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥15.9 billion, a decline of ¥2.8 billion from ¥18.7
billion for the corresponding nine-month period of the previous year. In
addition to the above-mentioned factors, the following factors also affected
results:

  *For the nine-month period ended December 31, 2012, this segment reported a
    gain of ¥8.0 billion on the sale of shares in Mikuni Coca-Cola Bottling
    Co., Ltd.
  *MBK Healthcare Partners Limited recorded a ¥5.5 billion gain related to
    equity dilution in IHH Healthcare Bhd. The relevant gain includes a ¥5.3
    billion gain due to the dilution of MBK Healthcare Partners Limited’s
    stake in IHH Healthcare Bhd. from 26.63% to 20.48% reflecting the issuance
    of new shares by IHH Healthcare Bhd. upon its initial public offering on
    the Bursa Malaysia and Singapore Exchange in July 2012.
  *For the corresponding nine-month period of the previous year, this segment
    recorded a ¥3.6 billion remeasurement gain due to the reclassification of
    Multigrain AG.

Innovation & Cross Function Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥33.9
billion, a decrease of ¥5.7 billion from ¥39.6 billion for the corresponding
nine-month period of the previous year.

  *The IT Business Unit reported a decline of ¥0.8 billion.
  *The Financial & New Business Unit reported a decrease of ¥6.7 billion.
    Mitsui & Co. Commodity Risk Management Ltd. posted a decline of ¥4.8
    billion due to underperforming derivatives trading. Gross profits
    corresponding to foreign exchange gains of ¥4.0 billion and ¥1.5 billion
    related to the commodity derivatives trading business at Mitsui posted in
    other expenses-net were included in gross profit for the nine-month period
    ended December 31, 2012 and for the corresponding nine-month period of the
    previous year, respectively.
  *The Transportation Logistics Business Unit reported an increase of ¥1.9
    billion, mainly attributable to the gross profit of Portek International
    Private Limited (Singapore), which was newly acquired during the
    three-month period ended September 30, 2011.

Operating loss for the nine-month period ended December 31, 2012 was ¥21.6
billion, a deterioration of ¥8.4 billion from ¥13.2 billion for the
corresponding nine-month period of the previous year. In addition to the
decline in gross profit, selling, general and administrative expenses
increased.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥13.8 billion, an increase of ¥37.0 billion from equity
in losses of ¥23.2 billion for the corresponding nine-month period of the
previous year. Reflecting the decline in share price, this segment recorded
impairment losses on listed securities in an amount of ¥18.3 billion in TPV
Technology Limited, ¥6.7 billion in Moshi Moshi Hotline, Inc. and ¥6.0 billion
in Nihon Unisys, Ltd., for the nine-month period ended December 31, 2011. In
addition to the impairment loss of ¥6.0 billion in investment, equity in
losses of ¥3.1 billion was recorded at Nihon Unisys, Ltd. mainly due to the
setting up of valuation allowances for its deferred tax assets for the
nine-month period ended December 31, 2011.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥8.5 billion, an increase of ¥35.8 billion from net loss
of ¥27.3 billion for the corresponding nine-month period of the previous year.
In addition to the above-mentioned factors, there were the following factors:

  *For the nine-month period ended December 31, 2012, this segment reported a
    gain of ¥4.8 billion on the sale of shares in Nihon Unisys, Ltd.
  *For the nine-month period ended December 31, 2012, Mitsui Bussan
    Commodities Ltd. (United Kingdom) recorded a gain of ¥4.3 billion on the
    sale of shares in LME Holdings Limited.
  *For the corresponding nine-month period of the previous year, this segment
    recorded a ¥4.0 billion impairment loss on shares in Formosa Epitaxy
    Incorporation.
  *For the nine-month period ended December 31, 2012 and for the
    corresponding nine-month period of the previous year, foreign exchange
    gains of ¥4.0 billion and ¥1.5 billion, respectively, were posted in other
    expense-net in relation to the commodity derivatives trading business at
    Mitsui.

Americas Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥51.5
billion, a decline of ¥5.7 billion from ¥57.2 billion for the corresponding
nine-month period of the previous year. Novus International, Inc. reported a
decline of ¥5.8 billion due to a decline in sales price despite the increase
in sales volume of methionine, as well as a write-down on inventories of feed
additives other than methionine.

Operating income for the nine-month period ended December 31, 2012 was ¥12.6
billion, a decline of ¥7.2 billion from ¥19.8 billion for the corresponding
nine-month period of the previous year. In addition to the decline in gross
profit, this segment reported an increase in the provision for doubtful
receivables.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥2.5 billion, a decline of ¥0.4 billion from ¥2.9
billion for the corresponding nine-month period of the previous year.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥13.4 billion, an increase of ¥1.5 billion from ¥11.9
billion for the corresponding nine-month period of the previous year. In
addition to the above-mentioned factors, for the nine-month period ended
December 31, 2012, this segment recorded a gain of ¥3.1 billion on the sale of
shares in MED3000 Group, Inc.

Europe, the Middle East and Africa Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥10.8
billion, a decline of ¥2.8 billion from ¥13.6 billion for the corresponding
nine-month period of the previous year.

Operating loss for the nine-month period ended December 31, 2012 was ¥3.3
billion, a deterioration of ¥2.7 billion from ¥0.6 billion for the
corresponding nine-month period of the previous year.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥0.4 billion, a decline of ¥0.1 billion from ¥0.5
billion for the corresponding nine-month period of the previous year.

Net loss attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥0.8 billion, a decline of ¥0.9 billion from ¥0.1
billion of net profit for the corresponding nine-month period of the previous
year.

Asia Pacific Segment

Gross profit for the nine-month period ended December 31, 2012 was ¥7.4
billion, a decline of ¥1.3 billion from ¥8.7 billion for the corresponding
nine-month period of the previous year.

Operating loss for the nine-month period ended December 31, 2012 was ¥4.2
billion, a deterioration of ¥1.1 billion from ¥3.1 billion for the
corresponding nine-month period of the previous year.

Equity in earnings of associated companies for the nine-month period ended
December 31, 2012 was ¥3.8 billion, an increase of ¥0.2 billion from ¥3.6
billion for the corresponding nine-month period of the previous year.

Net income attributable to Mitsui & Co., Ltd. for the nine-month period ended
December 31, 2012 was ¥22.8 billion, a decline of ¥14.4 billion from ¥37.2
billion for the corresponding nine-month period of the previous year. In
addition to the above-mentioned factors, this segment recorded earnings from
the segment’s minority interest in Mitsui Iron Ore Development Pty. Ltd.,
Mitsui-Itochu Iron Pty. Ltd. and Mitsui Coal Holdings Pty. Ltd., which were
lower due to declines in the prices of iron ore and coal.

(3) Financial Condition and Cash Flows

Total assets as of December 31, 2012 were ¥9,825.4 billion, an increase of
¥813.6 billion from ¥9,011.8 billion as of March 31, 2012.

Total current assets as of December 31, 2012 were ¥4,574.5 billion, an
increase of ¥148.2 billion from ¥4,426.3 billion as of March 31, 2012.
Inventories increased by ¥366.7 billion. Certain physical commodity swap
transactions related to precious metals, which were originally accounted for
as derivative transactions, are accounted for as financings from December 31,
2012, and, as a result, an increase of ¥267.3 billion in inventories was
reported. Furthermore, increases in inventories were reported at Westport
Petroleum, Inc. (United States) by ¥15.9 billion due to the rebound for the
compression of inventory volume recorded as of March 31, 2012, and at the
newly acquired Cinco Pipe & Supply, LLC (United States) by ¥12.7 billion,
respectively. Meanwhile, trade receivables decreased by ¥155.2 billion,
including declines at the petroleum trading activities in the Energy Segment
as well as the Iron & Steel Products and Chemicals segments mainly
attributable to the decline in sales volume. Cash and cash equivalents also
declined by ¥69.6 billion.

Total current liabilities as of December 31, 2012, increased by ¥385.8 billion
to ¥3,009.8 billion from ¥2,624.0 billion as of March 31, 2012. Short-term
debt increased by ¥404.2 billion, including an increase of ¥264.6 billion due
to the aforementioned change related to physical commodities swap
transactions.

As a result, working capital, or current assets less current liabilities, as
of December 31, 2012 totaled ¥1,564.7 billion, a decline of ¥237.6 billion
from ¥1,802.3 billion as of March 31, 2012.

The sum of “total investments and non-current receivables,” “net property and
equipment,” “intangible assets, less accumulated amortization,” “deferred tax
assets-non-current,” and “other assets” as of December 31, 2012 totaled
¥5,250.9 billion, an increase of ¥665.4 billion from ¥4,585.5 billion as of
March 31, 2012, mainly due to the following factors:

Total of investments and non-current receivables as of December 31, 2012 was
¥3,660.7 billion, an increase of ¥469.0 billion from ¥3,191.7 billion as of
March 31, 2012.

Within this category, investments in and advances to associated companies as
of December 31, 2012 was ¥2,147.0 billion, an increase of ¥437.9 billion from
¥1,709.1 billion as of March 31, 2012. Major factors were as follows:

  *An increase of ¥166.6 billion due to an acquisition of 32.20% stake in
    Inversiones Mineras Acrux SpA (Chile), a joint venture with Codelco;
  *An increase of ¥85.7 billion due to an additional investment in Japan
    Australia LNG (MIMI) Pty. Ltd. (Australia) for the acquisition of working
    interests in the Browse LNG project;
  *An increase due to an acquisition of a 30% stake in renewable energy power
    generation projects in Canada;
  *An increase of ¥14.6 billion due to an investment in the Caserones copper
    and molybdenum project in Chile;
  *An increase of ¥14.1 billion due to investments in and loans to FPSO
    (Floating Production, Storage and Offloading vessel) leasing businesses
    for oil and gas production in Brazil;
  *An increase of ¥9.8 billion due to an acquisition of a 49.9% stake in
    National Plant and Equipment Pty Ltd., an Australian mining equipment
    rental company;
  *A ¥12.7 billion decline in preferred shares of Valepar S.A. resulting from
    a foreign exchange fluctuation and partial redemption; and
  *Factors that do not involve cash flow included net increases in equity
    earnings of ¥34.6 billion (net of ¥101.0 billion in dividends received
    from associated companies) as well as an increase of ¥73.8 billion
    resulting from a foreign exchange translation adjustment of foreign
    investments due to the depreciation of the Japanese yen.

Other investments as of December 31, 2012 were ¥752.3 billion, a decline of
¥40.2 billion from ¥792.5 billion as of March 31, 2012, mainly due to the
following factors:

  *A decline of ¥31.7 billion in investment in Sakhalin Energy Investment
    Company Ltd. due to capital redemption (in addition, a ¥0.5 billion
    increase due to a foreign exchange translation gain);
  *A ¥18.6 billion net decline in unrealized holding gains on
    available-for-sale securities, such as those of INPEX CORPORATION,
    reflecting a drop in the stock price and the saleof shares;
  *A decline of ¥16.8 billion due to the recognition of impairment in
    investments; and
  *An increase of ¥9.4 billion due to an investment in Sodrugestvo Group S.A.
    which operates a grain business focused on Russia.

Non-current receivables, less unearned interest as of December 31, 2012
totaled ¥485.2 billion, an increase of ¥31.0 billion from ¥454.2 billion as of
March 31, 2012. Major components included:

  *An increase of ¥73.0 billion in the loan to Codelco’s subsidiary;
  *A decline of ¥16.4 billion (excluding a foreign exchange translation loss
    of ¥1.3 billion) at PT. Bussan Auto Finance (Indonesia) ; and
  *A decline of ¥12.3 billion in the loan to Grace Ocean Private Limited, a
    ship-owning company, mainly due to the collection.

Net property and equipment as of December 31, 2012 totaled ¥1,446.0 billion,
an increase of ¥190.1 billion from ¥1,255.9 billion as of March 31, 2012,
mainly due to the following factors:

  *An increase of ¥74.8 billion (including a foreign exchange translation
    gain of ¥13.6 billion) at the Marcellus and Eagle Ford shale gas/oil
    projects in the United States;
  *An increase of ¥71.0 billion (including a foreign exchange translation
    gain of ¥16.7 billion) at iron ore mining projects in Australia; and

An increase of ¥19.1 billion (including a foreign exchange translation gain of
¥8.6 billion) at coal mining projects in Australia.

Long-term debt less current maturities as of December 31, 2012 was ¥3,102.2
billion, an increase of ¥204.0 billion from ¥2,898.2 billion as of March 31,
2012. Oriente Copper Netherlands B.V. (Netherlands) and a financial subsidiary
in the United States reported an increase in long-term borrowings.

Total Mitsui & Co., Ltd. shareholders’ equity as of December 31, 2012 was
¥2,882.8 billion, an increase of ¥241.5 billion from ¥2,641.3 billion as of
March 31, 2012. The major component of the increase was a net increase of
¥83.6 billion in foreign currency translation adjustments mainly due to
appreciation of the Australian dollar and US dollar against the Japanese yen.
Furthermore, retained earnings increased by ¥162.7 billion.

As a result, the equity-to-asset ratio as of December 31, 2012, was 29.3%, the
same figure as that as of March 31, 2012. Net interest-bearing debt, or
interest-bearing debt less cash and cash equivalents and time deposits as of
December 31, 2012 was ¥2,828.0 billion, an increase of ¥685.2 billion from
¥2,142.8 billion as of March 31, 2012. The net debt-to-equity ratio (DER) as
of December 31, 2012 was 0.98 times, 0.17 points higher compared to 0.81 times
as of March 31, 2012.

2) Cash Flows

Cash Flows from Operating Activities

Net cash provided by operating activities for the nine-month period ended
December 31, 2012 was ¥363.7 billion, an increase of ¥217.0 billion from
¥146.7 billion for the corresponding nine-month period of the previous year.
Major components of net cash provided by operating activities were our
operating income of ¥182.9 billion, dividend income of ¥151.9 billion,
including dividends received from associated companies, and net cash inflow of
¥12.6 billion from a decline in working capital, or changes in operating
assets and liabilities.

Compared with the corresponding nine-month period of the previous year, while
operating income declined by ¥106.5 billion, dividend income increased by
¥29.8 billion, net cash flow from increases and decreases in working capital
improved by ¥260.2 billion.

Cash Flows from Investing Activities

Net cash used in investing activities for the nine-month period ended December
31, 2012 was ¥640.0 billion, an increase of ¥321.1 billion from ¥318.9 billion
for the corresponding nine-month period of the previous year. The net cash
used in investing activities consisted of:

  *Net outflows of cash that corresponded to investments in and advances to
    associated companies (net of sales of investments in and collection of
    advances to associated companies) were ¥210.2 billion. The major cash
    outflows were as follows:

- An acquisition of a 16.95% stake in Inversiones Mineras Acrux SpA for ¥85.9
billion (*);

- An additional investment in Japan Australia LNG (MIMI) Pty. Ltd. for ¥85.7
billion;

- An acquisition of a 30% stake in renewable energy power generation projects
in Canada;

- An investment in the Caserones copper and molybdenum project in Chile for
¥14.6 billion;

- Investments in and loans to FPSO leasing businesses for oil and gas
production in Brazil for ¥14.1 billion; and

- An acquisition of a 49.9% stake in National Plant and Equipment Pty Ltd. for
¥9.8 billion.

The major cash inflows were the partial sale of shares in Mikuni Coca-Cola
Bottling Co., Ltd. for ¥15.5 billion and the partial sale of shares in Nihon
Unisys, Ltd. for ¥11.4 billion.

  *Net inflows of cash that corresponded to other investments (net of sales
    and redemption of other investments) were ¥12.7 billion. Cash inflows
    mainly consisted of a ¥31.7 billion capital redemption from Sakhalin
    Energy Investment Company Ltd. Meanwhile, major cash expenditures included
    a ¥9.4 billion investment in Sodrugestvo Group S.A.
  *Net outflows of cash that corresponded to long-term loan receivables (net
    of collection) were ¥139.2 billion. Increases in long-term loan mainly
    consisted of the loan to Codelco’s subsidiary for ¥146.7 billion (*). The
    major cash inflows was a collection of loan for ¥11.4 billion from Grace
    Ocean Private Limited, a ship-owning company.
  *Net outflows of cash relating to purchases of property leased to others
    and property and equipment (net of sales of those assets) were ¥302.7
    billion. Major expenditures included:

- Marcellus and Eagle Ford shale gas/oil projects in the United States for
¥88.0 billion;

- Iron ore mining projects in Australia for ¥69.2 billion;

- Oil and gas projects other than the shale gas/oil projects for a total of
¥58.6 billion;

- Coal mining projects in Australia for ¥23.1 billion; and

- Leased rolling stock for ¥17.0 billion.

(*) We currently have a 32.20% stake in Inversiones Mineras Acrux SpA as a
result of repayment of a part of the loan extended to Codelco’s subsidiary by
the 15.25% stake in Inversiones Mineras Acrux SpA in November 2012.

Free cash flow, or the sum of net cash provided by operating activities and
net cash used in investing activities, for the nine-month period ended
December 31, 2012 was a net outflow of ¥276.3 billion.

Cash Flows from Financing Activities

For the nine-month period ended December 31, 2012, net cash provided by
financing activities was ¥180.1billion, an increase of ¥110.0 billion from
net cash provided by financing activities of ¥70.1 billion for the
corresponding nine-month period of the previous year. The cash outflows from
payments of cash dividends were ¥91.3 billion. The net cash inflow from the
borrowing of short-term debt was ¥120.7 billion and the net cash inflow from
the borrowing of long-term debt was ¥148.5 billion.

In addition to the changes discussed above, there was an increase in cash and
cash equivalents of ¥26.6 billion due to foreign exchange translation; as a
result, cash and cash equivalents as of December 31, 2012 totaled ¥1,361.5
billion, a decline of ¥69.6 billion from ¥1,431.1billion as of March 31,
2012.

(4) Forecasts for the Year Ending March 31, 2013

We are maintaining our forecasted net income attributable to Mitsui & Co.,
Ltd. for the year ending March 31, 2013 at ¥310 billion, the amount announced
as the revised forecast on November 2, 2012. While the Energy Segment is
performing better than the revised forecast, the Mineral & Metal Resources
Segment was affected by impairment losses at Vale which were not taken into
account in our revised forecast announced on November 2, 2012. In addition,
the Chemicals Segment is still in the process of reconstructing its trading
activities, and the Iron & Steel Products Segment is being affected by
one-time foreign exchange losses. Taking all of those factors into account, we
have decided to maintain our full year forecast at ¥310 billion.

Key commodity prices and other parameters for the year ending March 31, 2013

March 2013                                           March 2013
            Impact on Net Income attributable to                  March 2013
(Revised     Mitsui & Co., Ltd.                      (Revised
Forecast)                                            Forecast)
             for the Year ending March 31, 2013
(Announced                                           (Announced       1-3Q        4Q
in           (Announced in May 2012)                 in                         
November                                             February         (Result)    (Assumption)
2012)                                                2013)
107                     Crude                      113              114         110
                         Oil/JCC        \1.2 bn
                         Consolidated   (US$1/bbl)
111                      Oil                         114              115         111
             Commodity   Price(*1)
(*2)                     Iron Ore       \1.9 bn      (*2)         <   123.6(*3)   (*2)
                                        (US$1/ton)
7,794                    Copper         (*4)         7,848            7,964(*5)   7,500
8.0                      Nickel         \1.8 bn      7.9              8.0(*5)     7.5
                                        (US$1/lb)
79.49                    USD            \1.6 bn      82.68            80.24       90
                                        (\1/USD)
80.39        Forex       AUD            \1.9 bn      85.66            82.54       95
             (*6)                       (\1/AUD)
39.61                    BRL            \0.8 bn      40.92            39.56       45
                                        (\1/BRL)

(*1) the oil price trend is reflected in net income with a 0-6 month time lag.
We assume the annual average price applicable to our financial results as the
Consolidated Oil Price based on the estimation: 6 month time lag, 12%; 3 month
time lag, 62%; no time lag, 26%.
(*2) We refrain from disclosing the iron ore price assumptions.
(*3) Average of representative reference prices (Fine, 62% Fe CFR North China)
during April 2012 to December 2012
(*4) We refrain from disclosing the copper price sensitivity to net income.
(*5) Average of LME cash settlement monthly average price during January 2012
to September 2012 (Copper: US$/MT, Nickel: US$/lb)
(*6) Impact of currency fluctuation on net income of overseas subsidiaries and
associated companies (denomination in functional currency) against the
Japanese yen


2. Other Information

Notice:

This flash report contains forward-looking statements about Mitsui and its
consolidated subsidiaries. These forward-looking statements are based on
Mitsui’s current assumptions, expectations and beliefs in light of the
information currently possessed by it and involve known and unknown risks,
uncertainties and other factors. Such risks, uncertainties and other factors
may cause Mitsui’s actual consolidated financial position, consolidated
operating results or consolidated cash flows to be materially different from
any future consolidated financial position, consolidated operating results or
consolidated cash flows expressed or implied by these forward-looking
statements.

These risks, uncertainties and other factors include, among others, (1)
economic downturns worldwide or at specific regions, (2) fluctuations in
commodity prices, (3) fluctuations in exchange rates, (4) credit risks from
clients with which Mitsui and its consolidated subsidiaries have business
transactions or financial dealings and/or from various projects, (5) declines
in the values of assets for which Mitsui and its consolidated subsidiaries act
as lessors, (6) changes in the financing environment, (7) declines in market
value of equity and/or debt securities, (8) changes in evaluation in
connection to the establishment of valuation allowances, (9) inability to
successfully restructure or eliminate subsidiaries or associated companies as
planned, (10) unsuccessful joint ventures and strategic investments, (11)
risks of resource related businesses not developing in line with assumed costs
and schedules and uncertainty in reserves and performance of third party
operators, (12) loss of opportunities to enter new business areas due to
limitations on business resources, (13) environmental laws and regulations,
(14) changes in laws and regulations or unilateral changes in contractual
terms by governmental entities, (15) employee misconduct, (16) failure to
maintain adequate internal control over financial reporting, and (17) climate
change and natural disaster. For further information on the above, please
refer to Mitsui’s Annual Securities Report.

Forward-looking statements may be included in Mitsui’s Annual Securities
Report and Quarterly Securities Reports or in its other disclosure documents,
press releases or website disclosures. Mitsui undertakes no obligation to
publicly update or revise any forward-looking statements.

3. Consolidated Financial Statements

(1) Consolidated Balance Sheets

                                                 (Millions of Yen)
Assets
                                         March 31,         December 31,
                                                 
                                         2012              2012
                                                   
Current Assets:
    Cash and cash equivalents            ¥ 1,431,112       ¥ 1,361,496
    Time deposits                        4,130             4,251
    Marketable securities                1,087             378
    Trade receivables:
    Notes and loans, less unearned       322,585           293,566
    interest
    Accounts                             1,616,191         1,525,167
    Associated companies                 116,885           81,924
    Allowance for doubtful               (17,860)          (18,084)
    receivables
    Inventories                          515,758           882,505
    Advance payments to suppliers        129,987           149,565
    Deferred tax assets―current          37,513            19,426
    Derivative assets                    53,664            57,240
  Other current assets              215,271        217,059
  Total current assets              4,426,323      4,574,493
Investments and Non-current
Receivables:
    Investments in and advances to
    associated                           1,709,082         2,147,042

    companies
    Other investments                    792,492           752,259
    Non-current receivables, less        454,191           485,170
    unearned interest
    Allowance for doubtful               (36,840)          (36,266)
    receivables
    Property leased to others―at
  cost, less accumulated            272,746        312,485
    depreciation
  Total investments and             3,191,671      3,660,690
    non-current receivables
Property and Equipment―at Cost:
    Land, land improvements and          202,834           213,519
    timberlands
    Buildings, including leasehold       401,451           421,750
    improvements
    Equipment and fixtures               1,306,754         1,540,146
    Mineral rights                       158,967           167,373
    Vessels                              42,539            41,188
  Projects in progress              152,789        213,638
    Total                               2,265,334         2,597,614
  Accumulated depreciation          (1,009,451)    (1,151,618)
  Net property and equipment        1,255,883      1,445,996
Intangible Assets, less                  110,307           113,098
Accumulated Amortization
Deferred Tax Assets―Non-current          15,626            18,940
Other Assets                          12,013         12,167
  Total                               ¥ 9,011,823    ¥ 9,825,384
                                                                             

                                                          (Millions of
                                                                Yen)
Liabilities and Equity
                                                March 31,       December 31,
                                                          
                                                2012            2012
                                                           
Current Liabilities:
                                                                             
Short-term debt                                 ¥ 307,132       ¥ 711,270
Current maturities of long-term debt            372,657         380,288
Trade payables:
Notes and acceptances                           53,308          49,722
Accounts                                        1,342,343       1,369,529
Associated companies                            110,289         84,987
Accrued expenses:
Income taxes                                    73,111          65,676
Interest                                        16,619          14,061
Other                                           93,266          62,251
Advances from customers                         106,787         111,362
Derivative liabilities                          65,262          79,065
Other current liabilities                     83,256        81,595
Total current liabilities                     2,624,030     3,009,806
Long-term Debt, less Current Maturities       2,898,218     3,102,172
Accrued Pension Costs and Liability for       55,799        56,182
Severance Indemnities
Deferred Tax Liabilities―Non-current          283,614       249,214
Other Long-Term Liabilities                   289,352       286,046
Equity:
Common stock                                    341,482         341,482
Capital surplus                                 430,491         429,334
Retained earnings:
Appropriated for legal reserve                  65,500          69,606
Unappropriated                                  2,192,494       2,351,049
Accumulated other comprehensive income
(loss):
Unrealized holding gains and losses on          90,476          86,131
available-for-sale securities
Foreign currency translation adjustments        (380,457)       (296,820)
Defined benefit pension plans                   (68,163)        (63,693)
Net unrealized gains and losses on            (24,302)      (28,050)
derivatives
Total accumulated other comprehensive loss    (382,446)     (302,432)
Treasury stock, at cost                       (6,203)       (6,208)
Total Mitsui & Co., Ltd. shareholders'        2,641,318     2,882,831
equity
Noncontrolling interests                      219,492       239,133
Total equity                                  2,860,810     3,121,964
Total                                         ¥ 9,011,823   ¥ 9,825,384
                                                                             

(2) Statements of Consolidated Income and Comprehensive Income

Statements of Consolidated Income
                                                         (Millions of Yen)
                                         Nine-month period   Nine-month period
                                       ended              ended

                                         December 31, 2011   December 31, 2012
Revenues:                                                 
Sales of products                        ¥ 3,580,515         ¥ 3,209,733
Sales of services                        272,070             280,619
Other sales                             94,234             86,109
Total revenues                           3,946,819           3,576,461
                                                             
Total Trading Transactions :
Nine-month period ended December 31,
2011, ¥ 7,839,096 million
Nine-month period ended December 31,
2012, ¥ 7,462,613 million
                                                             
Cost of Revenues:
Cost of products sold                    (3,119,315)         (2,842,246)
Cost of services sold                    (104,991)           (116,552)
Cost of other sales                     (45,449)           (43,408)
Total cost of revenues                  (3,269,755)        (3,002,206)
Gross Profit                             677,064             574,255
Other Expenses (Income):
Selling, general and administrative      378,862             382,009
Provision for doubtful receivables       8,840               9,372
Interest expense (income) - net          3,890               (1,425)
Dividend income                          (51,437)            (61,993)
Gain on sales of securities - net        (14,623)            (36,578)
Loss on write-down of securities         21,981              21,263
Gain on disposal or sales of property    (5,044)             (1,903)
and equipment - net
Impairment loss of long-lived assets     5,214               1,845
Impairment loss of goodwill              2,305               -
Other (income) expenses - net           (5,389)            15,348
Total other expenses (income)           344,599            327,938
Income before Income Taxes and Equity   332,465            246,317
in Earnings
Income Taxes                            141,527            111,590
Income before Equity in Earnings         190,938             134,727
Equity in Earnings of Associated        176,303            135,616
Companies - Net
Net Income before Attribution of         367,241             270,343
Noncontrolling Interests
Loss from Discontinued Operations -      -                   -
Net (After Income Tax Effect)
Net Income before Attribution of         367,241             270,343
Noncontrolling Interests
Net Income Attributable to              (26,993)           (16,434)
Noncontrolling Interests
Net Income Attributable to Mitsui &     ¥ 340,248          ¥ 253,909
Co., Ltd.
                                                             
                                                             
Statements of Consolidated
Comprehensive Income
                                                         (Millions of Yen)
                                         Nine-month period   Nine-month period
                                       ended              ended

                                         December 31, 2011   December 31, 2012
Net Income before Attribution of        ¥ 367,241          ¥ 270,343
Noncontrolling Interests
Other Comprehensive Income (Loss)
(after income tax effect):
Unrealized holding losses on             (54,034)            (8,718)
available-for-sale securities
Foreign currency translation             (159,069)           91,246
adjustments
Defined benefit pension plans            2,683               4,454
Net unrealized losses on derivatives    (9,512)            (3,877)
Total Other Comprehensive (Loss)        (219,932)          83,105
Income (after income tax effect)
Comprehensive Income before
Attribution of Noncontrolling            147,309             353,448
Interests
Comprehensive Income Attributable to    (13,884)           (19,856)
Noncontrolling Interests
Comprehensive Income Attributable to    ¥ 133,425          ¥ 333,592
Mitsui & Co., Ltd.
                                                             

(3) Statements of Consolidated Cash Flows

                                                       (Millions of Yen)
                                         Nine-month period   Nine-month period
                                     ended December     ended December
                                         31, 2011            31, 2012
Operating Activities:                                     
Net income before attribution of         ¥ 367,241           ¥ 270,343
noncontrolling interests
Adjustments to reconcile net income
before attribution of noncontrolling
interests to net cash provided by
operating activities:
Depreciation and amortization            108,918             141,189
Pension and severance costs, less        8,480               7,730
payments
Provision for doubtful receivables       8,840               9,372
Gain on sales of securities - net        (14,623)            (36,578)
Loss on write-down of securities         21,981              21,263
Gain on disposal or sales of property    (5,044)             (1,903)
and equipment - net
Impairment loss of long-lived assets     5,214               1,845
Impairment loss of goodwill              2,305               -
Deferred income taxes                    (3,387)             (16,457)
Equity in earnings of associated         (105,648)           (45,665)
companies, less dividends received
Changes in operating assets and
liabilities:
(Increase) decrease in trade             (97,794)            122,223
receivables
Increase in inventories                  (113,330)           (65,705)
Increase (Decrease) in trade payables    30,889              (10,030)
Payment for the settlement of the oil    (86,105)            -
spill incident in the Gulf of Mexico
Other - net                             18,751             (33,898)
Net cash provided by operating          146,688            363,729
activities
Investing Activities:
Net increase in time deposits            (436)               (713)
Net increase in investments in and       (76,309)            (210,188)
advances to associated companies
Net (increase) decrease in other         (1,663)             12,730
investments
Net increase in long-term loan           (5,835)             (139,163)
receivables
Net increase in property leased to      (234,703)          (302,675)
others and property and equipment
Net cash used in investing activities   (318,946)          (640,009)
Financing Activities:
Net increase in short-term debt          23,485              120,678
Net increase in long-term debt           148,443             148,478
Transactions with noncontrolling         (3,210)             2,179
interest shareholders
Purchases of treasury stock - net        (9)                 (5)
Payments of cash dividends              (98,571)           (91,270)
Net cash provided by financing          70,138             180,060
activities
Effect of Exchange Rate Changes on      (41,056)           26,604
Cash and Cash Equivalents
Net Decrease in Cash and Cash            (143,176)           (69,616)
Equivalents
Cash and Cash Equivalents at Beginning  1,441,059          1,431,112
of Period
Cash and Cash Equivalents at End of     ¥ 1,297,883        ¥ 1,361,496
Period
                                                             

Notes: The Statements of Consolidated Cash Flows above are not audited by the
auditors.

2. In accordance with ASC205-20, the figures for the three-month period ended
June 30, 2009 relating to discontinued operations have been reclassified.

3. Tax effects on investments in associated companies are classified as
"Deferred income taxes" from the six-month period ended September 30, 2009,
which had been formerly included in "Equity in earnings of associated
companies, less dividends received." The figures for the three-month period
ended June 30, 2009 have been reclassified to conform to the current period
presentaion.

(4) Assumption for Going Concern: None

(5) Significant Changes in Shareholders' Equity: None

(6) Operating Segment Information

Nine-month period ended December 31, 2011 (from April 1, 2011 to  (As restated)            
December 31, 2011)
                                                                                (Millions of
                                                                                              Yen)
               Iron &     Mineral     Machinery &                                             Innovation &
             Steel     & Metal    Infrastructure  Chemicals  Energy     Lifestyle     Cross
               Products   Resources                                                           Function
                                                                        
Revenue        142,845    439,945     214,247          683,061     1,223,636   578,664        122,922
Gross Profit   32,633     158,404     67,039           49,795      167,161     90,079         39,615
Operating
Income         7,918      141,833     (5,937)          8,572       134,564     14,757         (13,231)
(Loss)
Equity in
Earnings
(Losses) of    2,732      109,084     29,725           4,420       39,126      7,349          (23,198)
Associated
Companies
-Net
Net Income
(Loss)
Attributable  7,392     160,770    18,014          10,153     133,960    18,682        (27,251)
to Mitsui &
Co., Ltd.
Total Assets
at December   492,616   1,010,494  1,276,150       671,419    1,553,238  1,222,868     604,273
31, 2011
                                                                                                           
                                                                                (Millions of
                                                                                              Yen)
                          Europe,
                          the                                                  Adjustments
             Americas  Middle     Asia Pacific    Total      All Other  and           Consolidated
                          East                                                 Eliminations   Total
                          and
                          Africa
                                                                                                           
Revenues       399,405    90,285      50,099           3,945,109   1,710       -              3,946,819
Gross Profit   57,166     13,583      8,721            684,196     384         (7,516)        677,064
Operating
Income         19,840     (604)       (3,111)          304,601     (4,050)     (11,189)       289,362
(Loss)
Equity in
Earnings
(Losses) of    2,907      472         3,567            176,184     -           119            176,303
Associated
Companies
-Net
Net Income
(Loss)
Attributable  11,872    69         37,235          370,896    1,539      (32,187)      340,248
to Mitsui &
Co., Ltd.
Total Assets
at December   402,592   86,942     273,722         7,594,314  2,905,387  (1,882,358)   8,617,343
31, 2011
                                                                                                           

Nine-month period ended December 31, 2012 (from April 1, 2012 to December 31, 2012)
                                                                                (Millions of
                                                                                              Yen)
               Iron &     Mineral &   Machinery &                                             Innovation &
             Steel     Metal      Infrastructure  Chemicals  Energy     Lifestyle     Cross
               Products   Resources                                                           Function
                                                                                      
Revenues       125,339    390,284     248,311          520,514     1,042,262   603,925        114,458
Gross Profit   27,344     111,527     70,995           46,231      142,896     81,480         33,939
Operating
Income         746        85,105      (9,781)          801         101,829     (1,672)        (21,622)
(Loss)
Equity in
Earnings of
Associated     1,435      38,551      20,503           5,153       40,849      8,827          13,768
Companies
-Net
Net Income
(Loss)
Attributable  (7,088)   76,749     12,994          (2,860)    120,030    15,935        8,458
to Mitsui &
Co., Ltd.
Total Assets
at December   492,537   1,442,591  1,371,368       669,178    1,746,989  1,324,655     863,776
31, 2012
                                                                                
                          Europe,
                          the                                                  Adjustments
             Americas  Middle     Asia Pacific    Total      All Other                Consolidated
                          East                                                 and            Total
                          and                                                  Eliminations
                          Africa
                                                                                                           
Revenues       405,154    69,526      55,232           3,575,005   1,456       0              3,576,461
Gross Profit   51,470     10,780      7,400            584,062     681         (10,488)       574,255
Operating
Income         12,615     (3,279)     (4,221)          160,521     (3,392)     25,745         182,874
(Loss)
Equity in
Earnings of
Associated     2,462      406         3,799            135,753     -           (137)          135,616
Companies
-Net
Net Income
(Loss)
Attributable  13,397    (802)      22,814          259,627    431        (6,149)       253,909
to Mitsui &
Co., Ltd.
Total Assets
at December   480,206   107,788    275,765         8,774,853  3,444,736  (2,394,205)   9,825,384
31, 2012
                                                                                                           

Notes:

1. “All Other” includes business activities which primarily provide services,
such as financing services and operations services to externalcustomers
and/or to the companies and associated companies. Total assets of “All Other”
at December 31, 2011 and 2012 consisted primarily of cash and cash equivalents
and time deposits related to financing activities, and assets of certain
subsidiaries related to the above services.

2. Transfers between operating segments are made at cost plus a markup.

3. Net Income (Loss) Attributable to Mitsui & Co., Ltd. of “Adjustments and
Eliminations” includes income and expense items that are not allocated to
specific reportable operating segments, and eliminations of intersegment
transactions.

4. During the three-month period ended June 30, 2012, the companies changed
the headquarters’ cost allocation system from partial allocation to full
allocation to the operating segments in order to make business judgments which
reflect the current cost structure.

The effect of this change was a decrease in the Operating Income (Loss) and
the Net Income (Loss) Attributable to Mitsui & Co., Ltd. for the nine-month
period ended December 31, 2012 as follows:

                                                                           (Millions
                                                                                         of Yen)
               Iron &     Mineral &                                                      Innovation
             Steel     Metal      Machinery &     Chemicals  Energy   Lifestyle  &
               Products   Resources   Infrastructure                                     Cross
                                                                                         Function
Operating
Income        (1,475)   (8,144)    (5,586)         (3,457)    (7,696)  (5,658)    (2,981)
(Loss)
Net Income
(Loss)
Attributable  (1,099)   (6,067)    (4,162)         (2,575)    (5,734)  (4,215)    (2,221)
to Mitsui &
Co., Ltd.
                                                                                                    

5. During the three-month period ended June 30, 2012, “Foods & Retail” Segment
and the Consumer Service Business Unit that were included in the “Consumer
Service & IT” Segment were aggregated into the “Lifestyle” Segment for the
purpose of strengthening initiatives in our businessgeared towards consumer
products and the service market in Japan and the emerging economies’ consumers
that are expected to expand.

Additionally, the “Logistics & Financial Business” Segment and the IT Business
Unit that were included in the “Consumer Service & IT” Segment were aggregated
into the “Innovation & Cross Function” Segment. This new segment provides the
functions of financing, logistics and IT & process development for the purpose
of reinforcing the entire companies’ earnings base. This segment will also
pursue the creationof new businesses with its sights set on the next
generation.

In accordance with these changes, the operating segment information for the
nine-month period ended December 31, 2011, has been restated to conform to the
current period presentation.

6. During the three-month period ended June 30, 2012, “Machinery &
Infrastructure Project” Segment changed its name to “Machinery &
Infrastructure”.

7. Operating Income (Loss) reflects the companies' a) Gross Profit, b)
Selling, general and administrative expenses, and c) Provision fordoubtful
receivables as presented in the Statements of Consolidated Income.

Consolidated Financial Results for the Nine-Month Period Ended December 31,
2012

February 4, 2013

Mitsui & Co., Ltd.

(Unit: Billions of Yen)

                                                   FY 2012
Results of        Fiscal Year ending March 2013           Increase/Decrease
Operation                                          nine
                                                   months
                 1st half   3rd      nine                      (%
                               quarter   months                          )
                                                                 
Revenues           2,365.9  1,210.6  3,576.5  3,946.8  △  370.3   △ 9.4
Gross Profit       393.0     181.3   574.3   677.1  △  102.8   △
                                                                         15.2
Other
Expenses/Income
Selling, general
and                  △ 251.5   △ 130.5   △ 382.0   △ 378.9   △  3.1
administrative
expenses
Provision for
doubtful             △ 7.2     △ 2.2     △ 9.4     △ 8.8     △  0.6
receivables
Interest income      △ 6.3       7.7       1.4     △ 3.9        5.3
- net
Dividend income        46.4      15.6      62.0      51.4       10.6
Gain on sales of       15.7      20.9      36.6      14.6       22.0
securities - net
Loss on
write-down of        △ 18.4    △ 2.9     △ 21.3    △ 22.0       0.7
securities
Gain on disposal
or sales of            1.5       0.4       1.9       5.0     △  3.1
property and
equipment - net
Impairment loss
of long-lived        △ 0.2     △ 1.6     △ 1.8     △ 5.2        3.4
assets
Impairment loss        -         -         -       △ 2.3        2.3
of goodwill
Other expense -    △ 12.7   △ 2.7    △ 15.4    5.5    △  20.9    
net
Total other        △ 232.7  △ 95.3   △ 328.0  △ 344.6    16.6    
expenses/income
Income before
Income Taxes and    160.3   86.0    246.3   332.5  △  86.2    △
Equity in                                                                25.9
Earnings
Income Taxes       △ 77.6   △ 34.0   △ 111.6  △ 141.6    30.0    
Income before                                                            △
Equity in           82.7    52.0    134.7   190.9  △  56.2    29.4
Earnings
Equity in
Earnings of         97.3    38.3    135.6   176.3  △  40.7    
Associated
Companies - Net
Net Income
before                                                                   △
Attribution of      180.0   90.3    270.3   367.2  △  96.9    26.4
Noncontrolling
Interests
Net Income
Attributable to    △ 11.7   △ 4.7    △ 16.4   △ 27.0     10.6    
Noncontrolling
Interests
Net Income
Attributable to     168.3   85.6    253.9   340.2  △  86.3    △
Mitsui & Co.,                                                            25.4
Ltd.
                                                                         
Comprehensive
Income
Attributable to    14.1     319.5    333.6    133.4    200.2      150.1
Mitsui & Co.,
Ltd.
                                                                         
Operating profit    134.3   48.6    182.9   289.4  △  106.5   △
*1                                                                       36.8
                                                                         
*1 For Japanese investors' convenience, presented
according to the Japanese accounting practice.
                                                                         

Major Factors for Increase/Decrease

【Gross Profit】
  Mineral & Metal: Iron ore prices declined, volume increased
    Energy: Coal prices declined, MEPUSA declined
    Lifestyle: Drop in harvest by drought at Multigrain
                                     
【SG & A expenses】
    Same level to FY2012
                                       
【Provision for doubtful receivables】
    Miscellaneous
    (FY2012) Miscellaneous
                                       
【Interest income】
    Deferred commitment fee related to the loan to Codelco
                                       
【Dividend income】
    Dividend from LNG projects increased
                                       
【Gain on sales of securities】
    Mikuni Coca-Cola, Gain related to IPO of IHH, etc
    (FY2012) Remeasurement gain related to Multigrain, etc
                                       
【Loss on write-down of securities】
    An iron & steel company, Mitsui Chemicals, etc
    (FY2012) Valepar preferred shares, Formosa Epitaxy, etc
                                       
【Gain on disposal or sales of property and equipment】
    Miscellaneous
    (FY2012) Sales of unused land in
    Japan
                                       
【Impairment loss of long-lived assets】
    Miscellaneous
    (FY2012) Miscellaneous
                                       
【Impairment loss of goodwill】
    NIL
    (FY2012) Miscellaneous
                                       
【Other expense】
    Exploration expenses, foreign exchange losses, etc
    (FY2012) Shark Bay, exploration expenses, etc
                                       
【Equity in Earnings】
    Dec.                               Valepar: Iron ore prices declined,
                                       impairment loss
                                       RRMC: Iron ore prices declined, volume
                                       increased
                                       Collahuasi: Sales volume declined
                                       IPP: Mark-to-Market (MtM) on
                                       derivatives declined
    Inc.                               (FY2012) Impairment of investments in
                                       TPV, etc
                                       

Operating           <Gross Profit>              <Net Income (Loss) attributable to Mitsui & Co.,
Segments *2                                           Ltd.>
                                                                               
                      FY       FY                     FY       FY
                      2013     2012     Increase/     2013     2012     Increase/     Major Factors for
                                                                                 Increase/Decrease
                      nine     nine     Decrease      nine     nine     Decrease
                      months   months                 months   months
                                                                                      -Impairment of
                                                                                      shares in an iron
Iron & Steel                                                                          & steel company
Products              27.3    32.6    △ 5.3         △ 7.1   7.4     △ 14.5
                                                                                      -Loss on foreign
                                                                                      exchange forward
                                                                                      contracts
                                                                                      -Iron ore prices
                                                                                      declined, volume
                                                                                      increased
Mineral & Metal
Resources             111.5   158.4   △ 46.9        76.7    160.8   △ 84.1        -Valepar:
                                                                                      Impairment loss
                                                                                      on
                                                                                      nickel/aluminium
                                                                                      assets
                                                                                      -MtM on
                                                                                      derivatives
                                                                                      declined
Machinery &           71.0    67.0    4.0           13.0    18.0    △ 5.0
Infrastructure                                                                        -Loss for vessels
                                                                                      under
                                                                                      construction
                                                                                      (FY2012)
                                                                                      -Underperforming
                                                                                      trading
Chemicals             46.2    49.8    △ 3.6         △ 2.9   10.2    △ 13.1
                                                                                      -Impairment of
                                                                                      shares in Mitsui
                                                                                      Chemicals
                                                                                      -Production
                                                                                      increased,
                                                                                      coal/U.S. gas
Energy                142.9   167.2   △ 24.3        120.0   134.0   △ 14.0        prices declined

                                                                                      -MEPUSA:
                                                                                      Depreciation
                                                                                      costs increased
                                                                                      -Gain on sales of
                                                                                      shares in Mikuni
                                                                                      Coca-Cola
Lifestyle             81.5    90.1    △ 8.6         15.9    18.7    △ 2.8
                                                                                      -Drop in harvest
                                                                                      by drought at
                                                                                      Multigrain
                                                                                      -Gain on sales of
                                                                                      shares in Nihon
Innovation &                                                                          Unisys
Cross Function        33.9    39.6    △ 5.7         8.5     △ 27.3  35.8
                                                                                      -Impairment of
                                                                                      investment in
                                                                                      TPV, etc (FY2012)
                                                                                      -Gain on sales of
Americas              51.5    57.2    △ 5.7         13.4    11.9    1.5           shares in MED3000
                                                                                      Group
Europe, the
Middle East and       10.8    13.6    △ 2.8         △ 0.8   0.1     △ 0.9         
Africa
                                                                                      -Earnings of
Asia Pacific          7.4     8.7     △ 1.3         22.8    37.2    △ 14.4        resources and
                                                                                      energy
                                                                                      subsidiaries
Sub total             584.0   684.2   △ 100.2       259.5   371.0   △ 111.5
All
Other/Adjustments     △ 9.7   △ 7.1   △ 2.6         △ 5.6   △ 30.8  25.2
and Eliminations
Consolidated          574.3   677.1   △ 102.8       253.9   340.2   △ 86.3
total
                                                                                      

     Effective April 1, 2012, we changed our operating segments. In accordance
     with this change, the operating segment information for the nine-month
*2  period ended December 31, 2011 has been restated to conform to the
     current year presentation. Starting from the nine-month period ended
     December 31, 2012, we changed the headquarters' cost allocation system.
     For more information, please refer to page 7 of our earnings report.
     

                                                 
                        December   March     Increase
Financial Position                                     【Total assets】
                        2012       2012      /Decrease
                                                         Increased in
                                                   investments in
                                                         associated companies
                                                         and PPE due to new
Total assets            9,825.4   9,011.8  813.6       investments and
                                                         expansion.
Total shareholders'                                      The depreciation of
equity                  2,882.8   2,641.3  241.5       Yen also affected the
                                                         increase.
                                                         【Total shareholders'
Interest-bearing debt                                    equity】
(less cash & cash       2,828.0   2,142.8  685.2
equivalents)                                             Increased in retained
                                                         earnings and
                                                         translation
                                                         adjustments due to
Net DER                 0.98      0.81     0.17        the depreciation of
                                                         Yen.
                                          

Cash Flows                              FY 2013 nine        FY 2012 nine
                                           months                months
Operating Activities                     363.7                146.7
Investing Activities                     △ 640.0              △ 318.9
(Free Cash Flow)                       △ 276.3              △ 172.2
Financing Activities                     180.1                70.1
Effect of exchange rate changes          26.6                 △ 41.1
Changes of cash and cash equivalents     △ 69.6               △ 143.2
                                                             

<Reference>                                               
Major Indicators                      FY 2013 nine months    FY 2012 nine
                                                                months
Foreign Exchange (Yen/US$:            80.24                  78.51
average)
Foreign Exchange (Yen/A$:             82.54                  82.72
average)
Interests (YenTIBOR 3M average)       0.33%                  0.34%
Interests (US$LIBOR 3M average)       0.39%                  0.36%
Weighted average Oil price (US$)      $115/bbl               $105/bbl
                                                                             
                                     December 2012          March 2012
Foreign Exchange (Yen/US$:            86.58                  82.19
closing rate)
Nikkei Average (closing price)        10,395.18              10,083.56
                                                                             

Forecasts FY 2013

We are maintaining our forecasted net income attributable to Mitsui & Co.,
Ltd. for the year ending March 31, 2013 at ¥310 billion, the same level of
earnings as the revised forecast announced on November 2, 2012. While the
Energy Segment is performing better than the revised forecast, the Mineral &
Metal Resources Segment was affected by impairment losses at Vale which were
not taken into account in our revised forecast announced on November 2, 2012.
In addition, the Chemicals Segment is still in the process of reconstructing
its trading activities, and the Iron & Steel Products Segment is being
affected by one-time foreign exchange losses. Taking all of those factors into
account, we have decided to maintain our full year forecast at ¥310 billion.

For diagrams omitted, please see our home page.
(http://www.mitsui.com/jp/en/ir/library/meeting/2013/index.html)

Contact:

Mitsui & Co Ltd
 
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