Mitsui & Co Ltd: Final Results

  Mitsui & Co Ltd: Final Results

UK Regulatory Announcement

LONDON

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

Consolidated Financial Results for the Year Ended March 31,  
2013
[Based on accounting principles generally accepted    
in the United States of America ("U.S. GAAP")]
Tokyo, May 7, 2013 - Mitsui & Co., Ltd. announced its
consolidated financial results for the year ended
March 31,                             
2013.

Mitsui & Co., Ltd. and subsidiaries
(Web Site : http://www.mitsui.com/jp/en/)
                                                                          
President and Chief Executive Officer : Masami Iijima
Investor Relations Contacts : Michihiro Nose,
General Manager, Investor Relations Division TEL
81-3-3285-7533
                                                                          
1. Consolidated financial results (Unaudited)
(1) Consolidated operating results information for the year
ended March 31, 2013
     (from April 1,
     2012 to March
     31, 2013)
                                                                          
                                               
                                           Years ended

                                           March 31,
                                                                
                                           2013               2012      
                                  %              %
Revenues             Millions  4,911,609  △      5,251,602  12.2
                                of yen                 6.5
Income before Income            Millions               △
Taxes and Equity in        of yen    314,098    24.0   413,211    51.5
Earnings
Net income                      Millions               △
attributable to           of yen    307,926    29.1   434,497    41.7
Mitsui & Co., Ltd.
Net income attributable
to Mitsui & Co., Ltd. per    Yen     168.72            238.10    
share, basic
Net income attributable
to Mitsui & Co., Ltd. per    Yen     -                 -         
share, diluted
Net income ratio to
Mitsui & Co., Ltd.          %       10.6            17.4       
Shareholders' equity
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.Equity in Earnings of Associated Companies - Net for the years ended March
31, 2013 and 2012 were ¥176,226 million and ¥232,090 million, respectively.


3.Comprehensive Income for the years ended March 31, 2013 and 2012 were
¥631,260 (69.2 %) million and ¥373,029 million

(95.0 %), respectively.
4.Diluted net income attributable to Mitsui & Co., Ltd. per share for the
years ended March 31, 2013 and 2012 is not disclosed as there are no dilutive
potential shares.
                                                                          
(2) Consolidated financial position information
                                              
                                           March 31,      March 31,
                                           2013           2012
                                               
Total                Millions  10,324,581    9,011,823
assets                          of yen
Total equity           Millions  3,440,104     2,860,810
(net worth)                     of yen
Mitsui & Co.,
Ltd.                     Millions  3,181,819     2,641,318
shareholders'                   of yen
equity
Mitsui & Co., Ltd.
shareholders'             %         30.8          29.3
equity ratio
Mitsui & Co., Ltd.
shareholders' equity       Yen       1,743.34      1,447.34
per share
                                                                          
(3) Consolidated cash flow
information
                                              
                                           Years ended March 31,        
                          2013          2012          
Operating activities       Millions  461,430       380,984       
                                of yen
Investing activities       Millions  (753,297)     (438,191)     
                                of yen
Financing activities       Millions  221,635       57,394        
                                of yen
Cash and cash                   Millions
equivalents at the         of yen    1,425,174     1,431,112     
end of the year

2. Dividend information                                          
                                                 
                                                                        Year
                         Years ended March 31,              ending
                                                                        March 31,
                    2013       2012                2014
                                                                        (Forecast)
Interim dividend per    Yen     22         27                  25
share
Year-end dividend per   Yen     21         28                  26
share
Annual dividend per     Yen     43         55                  51
share
Annual dividend         Millions  78,493     100,397             
(total)                   of yen
Consolidated dividend   %       25.5       23.1                25.2
payout ratio
Note: Regarding our dividend policy, please refer to "(3) Shareholder Return
Policy" on p. 26.
                                                
                                                                        
3. Forecast of consolidated operating results for the year ending March 31, 2014
(from April 1, 2013 to March 31, 2014)
                                            
                                                              Year ending

                                                              March 31, 2014
                                            
Net income attributable to               Millions of yen   370,000
Mitsui & Co., Ltd.
Net income attributable to
Mitsui & Co., Ltd. per share,            Yen               202.74
basic
                                                                        
4. Others
(1) Increase/decrease of
important subsidiaries during
the period : Yes
  New : 1 company (MMRD Gama
  Limitada)
  Decrease : 1 company (Mitsui & Co. Europe
  Holdings PLC)
                                                                        
(2) Number of shares
:
                                            
                    March 31, 2013           March 31, 2012
                                            
Number of shares of common
stock issued, including           1,829,153,527            1,829,153,527
treasury stock
Number of shares of treasury      4,027,206                4,204,441
stock
                                            
                    Year ended March 31,     Year ended March 31,
                                     2013                     2012
                                            
Average number of
shares of common stock          1,825,019,130            1,824,888,914
outstanding
                                                                        
                                                                        
Disclosure Regarding Annual Audit
Procedures:
As of the date of disclosure of this annual earnings release, an audit of the
annual 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. Various factors may cause Mitsui’s actual results to be
materially different from any future performance expressed or implied by these
forward-looking statements. Therefore, these statements do not constitute a
guarantee by Mitsui that such future performance will be realized.

For key assumptions on which the statements concerning future performance are
based, please refer to (2) “Business Plan for the Year Ending March 31, 2014” on
p. 21. For cautionary notes with respect to forward-looking statements, please
refer to the “Notice” section on p. 26.
                                                                        
Supplementary materials and IR meeting on financial
results:
Supplementary materials on financial results can be found
on our web site.
We will hold an IR meeting on financial results for analysts and institutional
investors on May 8, 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) Results of Operations

(3) Financial Condition and Cash Flows

2. Management Policies

(1) Progress with the Medium-term Management Plan to March 31, 2014

(2) Business Plan for the Year Ending March 31, 2014

(3) Shareholder Return Policy

3. Other Information

4. Consolidated Financial Statements

(1) Consolidated Balance Sheets

(2) Statements of Consolidated Income and Comprehensive Income

(3) Statements of Changes in Consolidated Equity

(4) Statements of Consolidated Cash Flows

(5) Assumption for Going Concern

(6) Basis of Consolidated Financial Statements

(7) Notes to Consolidated Financial Statements

1. Qualitative Information

As of the date of disclosure of this earnings report, the audit procedures for
consolidated financial statements have not been completed.

(1) Operating Environment

During the first half of this fiscal year, the slowdown in the advanced
economies such as the financial crisis in Europe had spillover effects to the
emerging economies, raising concerns over a further slowdown in the global
economy. However, with the monetary easing and stimulus packages in place, the
global economy regained signs of modest improvement in the second half of the
fiscal year.

Although negative economic growth is still anticipated in the euro area,
measures against the crisis such as the implementation of the bond purchase
program have shown some progress. In the United States, with the
implementation of Quantitative Easing 3, backed by solid job growth,
improvement in the real estate market as well as rising in stock prices,
consumer spending showed a robust performance. In Japan, as a result of the
significant monetary easing and fiscal action, rapid depreciation of the yen
as well as rising stock prices are being observed, leading to an expectation
that corporate performance and the economic climate will start to pick up. As
a next step, early implementation of a growth strategy that would realize
sustainable economic growth is awaited.

In China, a temporary slowdown in the economy was seen, due to a decline in
export volumes to the euro area and sluggish real estate investment. However,
the Chinese economy has bottomed out supported by the monetary policy easing
and stimulus package on consumption in place, along with investments related
to infrastructure development, and we expect a steady 7.5-8% per annum growth.

The commodities markets, including crude oil and metal resources, showed a
large drop affected by the financial crisis in Europe, presenting severe
challenges to our operations. Recently, the commodities markets are regaining
stability along with the normalization of the international financial market,
but as the world economy lacks a strong driving force like China after the
Lehman Shock, recovery is yet limited to certain commodities and we remain
cautious of the high levels of volatility.

While 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
moderate recovery in Japan and the U.S., we expect that such growth will
remain sluggish and the global economy vulnerable. We will further intensify
our monitoring of the commodities markets as well as the changes in economic
policies, and, with a long term perspective, 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 ¥4,911.6 billion for the year ended March 31, 2013,
a decline of ¥340.0 billion from ¥5,251.6 billion for the corresponding
previous year.

Revenues from sales of products for the year ended March 31, 2013 were
¥4,408.1 billion, a decline of ¥345.1 billion from ¥4,753.2 billion for the
corresponding previous year, as a result of the following:

  *The Energy Segment reported a decline of ¥320.7 billion. Petroleum trading
    activities recorded a decline of ¥351.0 billion due to the decline in
    trading volume at Westport Petroleum, Inc. (United States), while an
    increase of ¥47.2 billion was recorded in oil and gas producing activities
    due to increases in both volume and oil prices.
  *The Machinery & Infrastructure Segment reported an increase of ¥30.4
    billion due to a solid performance in motor vehicle-related as well as
    mining and construction machinery-related businesses.
  *The Chemicals Segment reported a decline of ¥44.1 billion mainly due to
    underperforming trading activities in petrochemical intermediate materials
    as well as fertilizer resources and materials.

Revenues from sales of services for the year ended March 31, 2013 were ¥392.1
billion, an increase of ¥15.1 billion from ¥377.0 billion for the
corresponding previous year.

Revenues from other sales for the year ended March 31, 2013 were ¥111.4
billion, a decrease of ¥10.0 billion from ¥121.4 billion for the corresponding
previous year. Mitsui recorded losses and gains in revenues related to the
commodity derivatives trading business, which correspond to foreign exchange
gains of ¥6.4 billion and ¥5.8 billion posted in other expense-net for the
year ended March 31, 2013 and 2012, respectively.

Gross Profit

Gross profit for the year ended March 31, 2013 was ¥790.4 billion, a decline
of ¥87.9 billion from ¥878.3 billion for the corresponding previous year as a
result of the following:

  *The Mineral & Metal Resources Segment reported a decline of ¥36.1 billion
    in gross profit. Iron ore mining operations in Australia reported a
    decline of ¥37.2 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 previous year.
  *The Energy Segment reported a decline of ¥28.4 billion in gross profit.
    Mitsui Coal Holdings Pty. Ltd. (Australia) reported a decline of ¥32.4
    billion and Mitsui E&P USA LLC (United States) reported a decline of ¥11.6
    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 ¥22.2 billion due to increases in both volume and
    oil prices; and Mitsui E&P Texas LP (United States) recorded an increase
    of ¥6.7 billion.
  *The Innovation & Cross Function Segment reported a decline of ¥12.1
    billion in gross profit. Mitsui & Co. Commodity Risk Management Ltd.
    (United Kingdom) reported a decline of ¥6.4 billion due to underperforming
    derivatives trading.
  *The Americas Segment reported a decline of ¥9.6 billion in gross profit.
    Novus International, Inc. (United States) reported a decline of ¥6.7
    billion due to a decline in sales price of methionine, as well as a
    write-down on inventories of feed additives other than methionine.
  *The Lifestyle Segment reported a decline of ¥6.0 billion in gross profit,
    due to a decline in trading business of grain reflecting lower prices.
  *The Machinery & Infrastructure Segment reported an increase of ¥10.3
    billion in gross profit. The main cause of the increase was the reversal
    effect of a loss allowance for vessels under construction recorded in the
    corresponding previous year and solid performance of mining and
    construction machinery-related businesses.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for the year ended March 31, 2013
were ¥521.1 billion, an increase of ¥6.3 billion from ¥514.8 billion for the
corresponding previous year. The table below provides a breakdown of selling,
general and administrative expenses used for our internal review.

[Table omitted]

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 year ended March 31, 2013, 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.

[Table omitted]

Provision for Doubtful Receivables

Provision for doubtful receivables for the year ended March 31, 2013 was ¥14.8
billion, a decline of ¥0.3 billion from ¥15.1 billion for the corresponding
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 year ended March 31, 2013
was ¥1.2 billion, an improvement of ¥4.2 billion from ¥5.4 billion of expense
for the corresponding previous year. Income increased by ¥4.5 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 year ended March 31, 2013. The following table provides the periodic
average of 3 month Tibor for the Japanese yen and 3 month Libor for the U.S.
dollar for the years ended March 31, 2013 and 2012.

Periodic average of 3 month rate (%p.a.)
               Year ended March 31,
                2012          2013
Japanese yen     0.34           0.31
U.S. dollar      0.40           0.37

Dividend Income

Dividend income for the year ended March 31, 2013 was ¥80.1 billion, a decline
of ¥6.4 billion from ¥86.5 billion for the corresponding previous year.
Dividends from six LNG projects (Abu Dhabi, Oman, Qatargas 1 and 3, Equatorial
Guinea and Sakhalin II) were ¥61.2 billion in total, a decline of ¥7.4 billion
from ¥68.6 billion for the corresponding previous year, reflecting a decline
in dividends received from the Sakhalin II project.

Gain on Sales of Securities—Net

Gain on sales of securities for the year ended March 31, 2013 was ¥44.9
billion, an increase of ¥23.0 billion from ¥21.9 billion for the corresponding
previous year.

  *For the year ended March 31, 2013, an ¥8.0 billion gain on the sale of
    shares in Mikuni Coca-Cola Bottling Co., Ltd.; a ¥6.2 billion gain on the
    sale of shares in INPEX CORPORATION; 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 ¥3.1 billion gain on the sale of shares in MED3000
    Group, Inc.; and a ¥3.0 billion gain on the sale of shares in an iron &
    steel company 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) (*) 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 previous year, a gain of ¥8.4 billion on the sale of
    INPEX CORPORATION and a remeasurement gain of ¥3.6 billion on existing
    interests resulting from acquisition of the entire stake in Multigrain AG
    (Switzerland) were recorded.

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

Loss on Write-Downs of Securities

Loss on write-downs of securities for the year ended March 31, 2013 was ¥27.3
billion, an improvement of ¥6.2 billion from ¥33.5 billion for the
corresponding 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 year ended March 31, 2013.
    Furthermore, an impairment loss of ¥4.5 billion on preferred shares of
    Valepar S.A. was recorded reflecting an other-than-temporary decline
    related to a foreign exchange translation loss in the investment value of
    the current portion of preferred shares.
  *For the corresponding previous year, an impairment loss of ¥4.1 billion on
    preferred shares of Valepar S.A. was recorded in the same manner as the
    year ended March 31, 2013. An impairment loss of ¥4.0 billion on shares in
    Formosa Epitaxy Incorporation was recorded as well. Furthermore, an
    impairment loss reflecting an other-than-temporary decline in the
    investment value of aviation-related stock was recorded.

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

Gain on disposal or sales of property and equipment—net for the year ended
March 31, 2013 was ¥6.2 billion, an increase of ¥0.5 billion from ¥5.7 billion
for the corresponding previous year.

  *For the year ended March 31, 2013, a gain on sale of land used for
    logistics in Canada was recorded.
  *For the corresponding 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 year ended March 31, 2013 was
¥12.3 billion, an improvement of ¥1.7 billion from ¥14.0 billion for the
corresponding previous year.

  *For the year ended March 31, 2013, Australian iron ore operations, which
    are run as joint ventures with BHP Billiton through Mitsui Iron Ore
    Development Pty. Ltd. and Mitsui-Itochu Iron Pty. Ltd., recorded
    impairment losses totaling ¥6.4 billion for the revision of the
    development sequence triggered by the suspension of pre-commitment works
    for the outer harbour development option at Port Hedland in Western
    Australia.
  *For the corresponding previous year, Mitsui & Co. Uranium Australia Pty.
    Ltd. reported an impairment loss of ¥5.0 billion in mining equipment and
    mineral rights due to its decision to withdraw from the uranium mine
    development project in Australia.

Impairment Loss of Goodwill

There was no impairment loss of goodwill for the year ended March 31, 2013,
and ¥4.2 billion of impairment loss of goodwill consisting of miscellaneous
small impairments was recorded for the corresponding previous year.

Other Expenses (Income)—Net

Other expense—net for the year ended March 31, 2013 was ¥30.9 billion, a
deterioration of ¥38.8 billion from income of ¥7.9 billion for the
corresponding previous year.

  *For the year ended March 31, 2013, exploration expenses totaled ¥37.4
    billion including those recorded at oil and gas producing businesses.
    Mitsui Oil Exploration Co., Ltd. recorded a foreign exchange translation
    gain of ¥9.5 billion related to foreign currency deposits. Meanwhile,
    Mitsui recorded foreign exchange losses of ¥22.9 billion, including
    foreign exchange losses of ¥8.3 billion on foreign trade transactions in
    the Iron & Steel Products Segment, as well as a foreign exchange gain of
    ¥6.4 billion in the commodity derivatives trading business in the
    Innovation & Cross Function Segment, which corresponded to related
    revenues in the same segment.
  *For the corresponding previous year, Mitsui recorded foreign exchange gain
    of ¥5.8 billion in the commodity derivatives trading business in the
    Innovation & Cross Function Segment, which corresponded to related
    revenues in the same segment. Mitsui Oil Exploration Co., Ltd. recorded
    foreign exchange gains of ¥3.9 billion as well. Shark Bay Salt Pty. Ltd.
    (Australia) 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 ¥19.8 billion in total were recorded, including
    those at oil and gas producing businesses.

Income Taxes

Income taxes for the year ended March 31, 2013 were ¥158.3 billion, a decline
of ¥14.3 billion from ¥172.6 billion for the corresponding previous year.

  *“Income before income taxes and equity in earnings” and “equity earnings
    of associated companies-net” declined.
  *Reversal of deferred tax liabilities related to dividends received from
    the undistributed retained earnings of associated companies was
    approximately ¥26.0 billion for the year ended March 31, 2013, equivalent
    to the level for the corresponding previous year.
  *For the corresponding previous year, a positive impact was caused by
    enactment of the Australian Mineral Resource Rent Tax Act 2012 (“MRRT”)
    which led to the recognition of deferred tax assets (net of valuation
    allowances) for the operating assets subject to the MRRT. Meanwhile,
    negative impacts were recorded due to the current tax burden of the MRRT
    executed in July 2012, as well as the reversal of deferred tax assets (net
    of valuation allowances) for the operating assets subject to the MRRT (*).
  *For the year ended March 31, 2013, a ¥7.1 billion positive impact was
    recorded due to the reversal of deferred tax assets and liabilities
    attributable to factors including an evaluation of realizability of
    deferred tax assets related to corporate income tax in Japan, as well as a
    revision of the deferred tax rate applicable to the unrealized holding
    gains on available-for-sale securities at Mitsui Oil Exploration Co., Ltd.
  *For the corresponding previous year, a ¥26.1 billion one-time positive
    impact, mainly consisted of a reversal of deferred tax liabilities on
    undistributed retained earnings of associated companies, was recorded due
    to a reduction of the Japanese corporate income tax rate, while a ¥7.7
    billion negative impact of the valuation allowance against deferred tax
    assets of the national corporate tax was also recorded.

The effective tax rate on “income from continuing operations before income
taxes and equity in earnings” for the year ended March 31, 2013 was 50.4%, an
increase of 8.6% from 41.8% for the corresponding previous year. The major
factors for the increase were the reversal effect of the one-time positive
impact of the aforementioned tax rate reduction and enactment of the
Australian Mineral Resource Rent Tax recorded in the corresponding previous
year, while factors for the decrease include the decline in deferred tax
burden related to the undistributed retained earnings of associated companies.

(*) Entities have the option to elect to uplift the tax book values of assets
as of the end of May 2010 to the market value, at the adoption of the
Australian Mineral Resource Rent Tax Act 2012, which can be depreciated up to
25 years for taxable income calculation purposes. Our iron ore and coal
producing businesses intend to apply the uplift allowance to the operating
assets subject to the Mineral Resource Rent Tax. The Mineral Resource Rent Tax
is regarded as a kind of corporate income tax and is subject to tax effect
accounting. We record deferred tax assets for the difference in the book
values for accounting purposes and tax purposes (the present market value
based on our best estimation), and apply a valuation allowance for the portion
we believe is not more likely than not to be realized.

Equity in Earnings of Associated Companies—Net

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥176.2 billion, a decline of ¥55.9 billion from ¥232.1 billion for the
corresponding previous year as a result of the following:

  *A decline of ¥67.3 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 ¥17.9 billion, due to the decline in iron ore prices and an increase in
    income taxes related to the Australian Mineral Resource Rent Tax, 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 previous year.
  *Compañía Minera Doña Inés de Collahuasi SCM (Chile) reported a decline of
    ¥11.8 billion, mainly due to a decline in sales volume.
  *BHP Mitsui Coal Pty. Ltd. (Australia) recorded a decline of ¥3.1 billion
    due to lower coal prices.
  *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.
  *Japan Australia LNG (MIMI) Pty. Ltd. (Australia) reported an increase due
    to higher oil prices.
  *Due to a decline in share price, impairment losses on investments of ¥33.1
    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 previous year. In addition to the impairment loss of ¥6.0
    billion in investment, equity in losses of ¥3.3 billion was recorded at
    Nihon Unisys, Ltd. mainly due to the setting up of valuation allowances
    for its deferred tax assets for the year ended March 31, 2012.

Net Income attributable to Noncontrolling Interests

Net income attributable to noncontrolling interests for the year ended March
31, 2013 was ¥24.0 billion, a decline of ¥14.2 billion from ¥38.2 billion for
the corresponding previous year. Mitsui Oil Exploration Co., Ltd. recorded an
increase of ¥7.4 billion. Meanwhile, Mitsui E&P Mozambique Area 1 Limited
(United Kingdom), Japan Collahuasi Resources (Netherlands) and Mitsui-Itochu
Iron Pty. Ltd. (Australia) recorded declines of ¥10.1 billion, ¥3.6 billion
and ¥3.4 billion, respectively.

Net Income attributable to Mitsui & Co., Ltd.

As a result, net income attributable to Mitsui & Co., Ltd. for the year ended
March 31, 2013 was ¥307.9 billion, a decline of ¥126.6 billion from ¥434.5
billion for the corresponding previous year.

[Diagram omitted]

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 year
ended March 31, 2012 has been restated to conform to the current year
presentation. In addition, starting from the year ended March 31, 2013, we
changed the headquarters’ cost allocation system from partial allocation to
full allocation to the operating segments. The impact of this change on
operating income (loss) and net income (loss) attributable to Mitsui & Co.,
Ltd. for each operating segment for the year ended March 31, 2013 was as
follows:

                                    Impact on          Impact on Net income
                                                       (Loss)
(Billions of yen)                  Operating Income 
                                    (Loss)             attributable to Mitsui
                                                       & Co., Ltd.
Iron & Steel Products               (2.0)              (1.5)
Mineral & Metal Resources           (10.9)             (8.1)
Machinery & Infrastructure          (7.4)              (5.5)
Chemicals                           (4.6)              (3.4)
Energy                              (10.3)             (7.6)
Lifestyle                           (7.5)              (5.6)
Innovation & Cross Function         (4.0)              (3.0)
Americas                            -                  -
Europe, the Middle East and         -                  -
Africa
Asia Pacific                        -                  -
All Other/Adjustments and           46.6               34.7
Eliminations
Consolidated Total                  0                  0

Iron & Steel Products Segment

Gross profit for the year ended March 31, 2013 was ¥40.6 billion, a decline of
¥2.2 billion from ¥42.8 billion for the corresponding previous year. The main
cause of decline was sluggish market conditions for steel products and
reduction in export volumes from Japan caused by appreciation of the Japanese
yen.

Operating income for the year ended March 31, 2013 was ¥3.6 billion, a decline
of ¥6.0 billion from ¥9.6 billion for the corresponding previous year.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥3.1 billion, a decline of ¥0.9 billion from ¥4.0 billion for the
corresponding previous year.

Net loss attributable to Mitsui & Co., Ltd. for the year ended March 31, 2013
was ¥2.9 billion, a decline of ¥12.4 billion from net income of ¥9.5 billion
for the corresponding previous year. In addition to the above-mentioned
factors, foreign exchange losses of ¥8.3 billion on foreign trade transactions
were recorded for the year ended March 31, 2013.

[Diagram omitted]

Mineral & Metal Resources Segment

Gross profit for the year ended March 31, 2013 was ¥158.7 billion, a decline
of ¥36.1 billion from ¥194.8 billion for the corresponding 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 previous year were based on a daily average of spot reference
prices during the twelve-month period starting from December 1, 2010 through
November 30, 2011.

Reflecting the transition to a more diversified sales contract portfolio
starting from the three-month period ended December 31, 2011, however, the
majority of contract prices applied for products sold during the year ended
March 31, 2013 were based on pricing that reflects current spot reference
prices, such as the 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 ¥26.1 billion in
gross profit reflecting the decline in iron ore prices, which was partially
offset by the positive effect of increases in sales volume caused by both the
effect of incremental capacity and the reversal effect of unseasonably wet
weather for the corresponding previous year. Mitsui-Itochu Iron Pty. Ltd. also
recorded a decline of ¥11.2 billion due to the decline in iron ore prices.

Operating income for the year ended March 31, 2013 was ¥123.9 billion, a
decline of ¥49.2 billion from ¥173.1 billion for the corresponding previous
year. In addition to a decline in gross profit, selling, general and
administrative expenses increased.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥42.9 billion, a decline of ¥88.3 billion from ¥131.2 billion for the
corresponding previous year. Major factors were as follows:

  *Valepar S.A. posted earnings of ¥7.8 billion, a decline of ¥67.3 billion
    from ¥75.1 billion for the corresponding previous year, mainly due to a
    decline in iron ore prices and impairment losses including those on nickel
    and aluminium assets.
  *Earnings at Robe River Mining Co. Pty. Ltd. were ¥31.1 billion, a decline
    of ¥17.9 billion from ¥49.0 billion for the corresponding previous year.
    This was due to the decline in iron ore prices and increased tax burden
    related to the Australian Mineral Resource Rent Tax Act 2012, despite an
    increase in sales volume led by both the effect of incremental capacity
    and the reversal effect of unseasonably wet weather for the corresponding
    previous year.
  *Compañía Minera Doña Inés de Collahuasi SCM recorded earnings of ¥2.6
    billion, a decline of ¥11.8 billion from ¥14.4 billion for the
    corresponding 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 year ended March 31,
2013 was ¥90.5 billion, a decline of ¥110.8 billion from ¥201.3 billion for
the corresponding previous year. In addition to the above-mentioned factors,
the following factors also affected results:

  *For the year ended March 31, 2013, deferred commitment fee related to the
    loan extended to the subsidiary of Codelco was recorded on interest
    income.
  *For the year ended March 31, 2013, Australian iron ore operations, which
    are run as joint ventures with BHP Billiton through Mitsui Iron Ore
    Development Pty. Ltd. and Mitsui-Itochu Iron Pty. Ltd., recorded
    impairment losses totaling ¥6.4 billion for the revision of the
    development sequence triggered by the suspension of pre-commitment works
    for the outer harbour development option at Port Hedland in Western
    Australia.
  *Australian iron ore operations recorded a negative impact of ¥6.7 billion
    in total, resulting from the current tax burden of the MRRT and the
    reversal of deferred tax assets (net of valuation allowances) for the
    operating assets subject to the MRRT for the year ended March 31, 2013. On
    the other hand, Australian iron ore operations recorded a positive impact
    of ¥18.1 billion in income taxes caused by enactment of the MRRT, which
    included the positive impact of the Robe River Mining Co. Pty. Ltd.
    recorded in equity in earnings of associated companies (including tax
    effect on undistributed retained earnings), for the corresponding previous
    year.
  *For the corresponding previous year, an ¥11.9 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.
  *Reversal of deferred tax liabilities on undistributed retained earnings of
    associated companies at the time of profit distribution decreased by
    approximately ¥8.0 billion from the corresponding previous year.

Machinery & Infrastructure Segment

Gross profit for the year ended March 31, 2013 was ¥104.3 billion, an increase
of ¥10.3 billion from ¥94.0 billion for the corresponding previous year.

  *The Infrastructure Projects Business Unit reported an increase of ¥1.3
    billion.
  *The Motor Vehicles & Construction Machinery Business Unit reported an
    increase of ¥3.1 billion. Mining and construction machinery-related
    businesses in the Americas achieved a solid performance.
  *The Marine & Aerospace Business Unit reported an increase of ¥6.0 billion
    due to a reversal effect of a loss allowance for vessels under
    construction recorded in the corresponding previous year.

Operating loss for the year ended March 31, 2013 was ¥8.3 billion, a
deterioration of ¥0.1 billion from ¥8.2 billion for the corresponding previous
year. Despite the increase in gross profit, selling, general and
administrative expenses increased.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥32.0 billion, a decline of ¥6.0 billion from ¥38.0 billion for the
corresponding previous year.

  *The Infrastructure Projects Business Unit reported a decline of ¥2.9
    billion. Overseas power producers reported equity in earnings of ¥12.3
    billion in total, the same amount as the corresponding 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 ¥1.1 billion to a loss of ¥1.0 billion from a gain of ¥0.1 billion for
    the corresponding previous year. Meanwhile, Paiton 3 in Indonesia and
    Hezhou in China, both coal-fired power plants, started to contribute along
    with the commencement of commercial operation.
  *The Motor Vehicles & Construction Machinery Business Unit reported an
    increase of ¥1.7 billion. Although 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 ¥4.8 billion,
    reflecting a reversal effect of the gain on reversal of a loss allowance
    at the LNG vessels chartering business recorded in the corresponding
    previous year.

Net income attributable to Mitsui & Co., Ltd. for the year ended March 31,
2013 was ¥20.5 billion, an increase of ¥2.8 billion from ¥17.7 billion for the
corresponding previous year. In addition to the above factors, there are the
following factors.

  *For the corresponding previous year, a ¥4.0 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.
  *For the corresponding previous year, an impairment loss on an
    aviation-related stock was recorded reflecting an other-than-temporary
    decline in the investment value.

Chemicals Segment

Gross profit for the year ended March 31, 2013 was ¥69.1 billion, an increase
of ¥3.9 billion from ¥65.2 billion for the corresponding previous year. P.T.
Kaltim Pasifik Amoniak (Indonesia) reported an increase of 3.8 billion due to
higher ammonia prices.

Operating income for the year ended March 31, 2013 was ¥7.4 billion, a decline
of ¥2.9 billion from ¥10.3 billion for the corresponding previous year. The
increase in selling, general and administrative expenses surpassed the amount
of increase in gross profit.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥6.6 billion, a decline of ¥0.1 billion from ¥6.7 billion for the
corresponding previous year.

Net loss attributable to Mitsui & Co., Ltd. for the year ended March 31, 2013
was ¥1.3 billion, a deterioration of ¥10.4 billion from net income of ¥9.1
billion for the corresponding previous year.

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

  *For the corresponding 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 year ended March 31, 2013, 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
year ended March 31, 2013 and 2012 were estimated to be US$114 and US$108 per
barrel, respectively.

Gross profit for the year ended March 31, 2013 was ¥190.7 billion, a decline
of ¥28.4 billion from ¥219.1 billion for the corresponding previous year,
primarily due to the following factors:

  *Mitsui Oil Exploration Co., Ltd. reported an increase of ¥22.2 billion due
    to increases in both production volume and oil prices. 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 ¥6.7
    billion.
  *Mitsui Coal Holdings Pty. Ltd. reported a decline of ¥32.4 billion due to
    lower coal prices, in spite of the reduction in production costs.
  *Mitsui E&P USA LLC reported a decline of ¥11.6 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 ¥7.8 billion and ¥3.3 billion respectively
    were recorded in petroleum trading activities of Mitsui, as well as in
    Mitsui Oil Co., Ltd., due to deterioration of market conditions.

Operating income for the year ended March 31, 2013 was ¥134.9 billion, a
decline of ¥38.6 billion from ¥173.5 billion for the corresponding previous
year. In addition to a decline in gross profit, selling, general and
administrative expenses increased.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥56.7 billion, an increase of ¥2.8 billion from ¥53.9 billion for the
corresponding previous year. Japan Australia LNG (MIMI) Pty. Ltd. reported an
increase due to higher oil prices.

Net income attributable to Mitsui & Co., Ltd. for the year ended March 31,
2013 was ¥164.8 billion, a decline of ¥23.3 billion from ¥188.1 billion for
the corresponding 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 ¥61.2 billion in total, a decline
    of ¥7.4 billion from ¥68.6 billion for the corresponding previous year,
    due mainly to a decline in dividends received from the Sakhalin II
    project.
  *For the year ended March 31, 2013, Mitsui Oil Exploration Co., Ltd.
    recorded a ¥22.0 billion one-time positive impact on income taxes due to
    the reversal of deferred tax liabilities associated with a revision of the
    deferred tax rate applicable to the unrealized holding gains on
    available-for-sale securities. Net income attributable to noncontrolling
    interests of Mitsui Oil Exploration Co., Ltd. increased by ¥7.4 billion
    from the corresponding previous year mainly due to such positive impact on
    income taxes.
  *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 previous year.
  *For the year ended March 31, 2013, Mitsui Oil Exploration Co., Ltd.
    recorded a gain of ¥6.2 billion on the sale of shares in INPEX
    CORPORATION. For the corresponding previous year, Mitsui and Mitsui Oil
    Exploration Co., Ltd. recorded gains of ¥8.4 billion in total on the sale
    of the same shares.
  *For the year ended March 31, 2013, exploration expenses of ¥36.1 billion
    in total were recorded in other expenses-net, including those recorded by
    Mitsui E&P Mozambique Area 1 Limited, Mitsui Oil Exploration Co., Ltd. and
    Mitsui E&P Australia Pty Limited (Australia). For the corresponding
    previous year, Mitsui Oil Exploration Co., Ltd. recorded foreign exchange
    gains of ¥3.9 billion, while exploration expenses totaled ¥18.9 billion
    including those recorded by Mitsui E&P Australia Pty Limited and Mitsui
    Oil Exploration Co., Ltd.
  *For the corresponding previous year, a ¥5.1 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.
  *For the corresponding previous year, Mitsui & Co. Uranium Australia Pty.
    Ltd. reported an impairment loss of ¥5.0 billion in mining equipment and
    mineral rights due to its decision to withdraw from a uranium mine
    development project in Australia, while at the same time a ¥4.0 billion
    positive impact was recorded on income taxes due to the recording of
    deferred tax assets.

[Diagram omitted]

Lifestyle Segment

Gross profit for the year ended March 31, 2013 was ¥106.0 billion, a decline
of ¥6.0 billion from ¥112.0 billion for the corresponding previous year.

  *The Food Resources Business Unit reported a decline of ¥4.2 billion due to
    the decline in trading business of grain reflecting lower prices.
  *The Food Products & Services Business Unit recorded a decline of ¥2.8
    billion, reflecting the reversal effect of a ¥4.7 billion mark-to-market
    valuation gains on commodity derivative contracts related to coffee for
    the corresponding previous year.
  *The Consumer Service Business Unit reported an increase of ¥1.1 billion.

Operating loss for the year ended March 31, 2013 was ¥5.5 billion, a decline
of ¥16.1 billion from operating income of ¥10.6 billion for the corresponding
previous year. In addition to the decline in gross profit, selling, general
and administrative expenses increased.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥8.3 billion, a decline of ¥1.0 billion from ¥9.3 billion for the
corresponding previous year.

  *The Food Resources Business Unit reported an increase of ¥0.5 billion.
    This business unit recorded a ¥2.9 billion impairment loss on listed
    securities in Mitsui Sugar Co., Ltd. for the year ended March 31, 2013,
    reflecting the decline in share price.
  *The Food Products & Services Business Unit recorded a decline of ¥0.1
    billion.
  *The Consumer Service Business Unit reported a decline of ¥1.4 billion. IHH
    Healthcare Bhd., in which MBK Healthcare Partners Limited invested,
    recorded an increase of ¥2.1 billion. Meanwhile, an impairment loss
    reflecting an other-than-temporary decline in the investment value was
    recorded for another associated company.

Net income attributable to Mitsui & Co., Ltd. for the year ended March 31,
2013 was ¥10.3 billion, a decline of ¥6.7 billion from ¥17.0 billion for the
corresponding previous year. In addition to the above-mentioned factors, the
following factors also affected results:

  *For the year ended March 31, 2013, 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 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 year ended March 31, 2013 was ¥41.4 billion, a decrease
of ¥12.1 billion from ¥53.5 billion for the corresponding previous year.

  *The IT Business Unit reported a decline of ¥1.7 billion.
  *The Financial & New Business Unit reported a decrease of ¥12.1 billion.
    Mitsui & Co. Commodity Risk Management Ltd. posted a decline of ¥6.4
    billion due to underperforming derivatives trading. Gross profits
    corresponding to foreign exchange gains of ¥6.4 billion and ¥5.8 billion
    related to the commodity derivatives trading business at Mitsui posted in
    other expenses-net were included in gross profit for the year ended March
    31, 2013 and for the corresponding previous year, respectively.
  *The Transportation Logistics Business Unit reported an increase of ¥1.6
    billion.

Operating loss for the year ended March 31, 2013 was ¥32.9 billion, a
deterioration of ¥12.8 billion from ¥20.1 billion for the corresponding
previous year.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥18.0 billion, an increase of ¥38.4 billion from equity in losses of ¥20.4
billion for the corresponding previous year. Reflecting the decline in share
price, this segment recorded impairment losses on listed securities for the
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 year ended March
31, 2012. In addition to the impairment loss of ¥6.0 billion in investment,
equity in losses of ¥3.3 billion was recorded at Nihon Unisys, Ltd. mainly due
to the setting up of valuation allowances for its deferred tax assets for the
year ended March 31, 2012.

Net income attributable to Mitsui & Co., Ltd. for the year ended March 31,
2013 was ¥3.6 billion, an increase of ¥35.8 billion from net loss of ¥32.2
billion for the corresponding previous year. In addition to the
above-mentioned factors, there were the following factors:

  *For the year ended March 31, 2013, this segment reported a gain of ¥4.8
    billion on the sale of shares in Nihon Unisys, Ltd.
  *For the year ended March 31, 2013, 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 previous year, this segment recorded a ¥4.0 billion
    impairment loss on shares in Formosa Epitaxy Incorporation and a ¥2.7
    billion impairment loss on shares in QIWI Limited in Russia.
  *For the year ended March 31, 2012, Trinet Logistics Co., Ltd. (Japan), a
    warehousing company, recorded a ¥3.2 billion gain on sales of unused land
    in Japan.
  *For the year ended March 31, 2013 and for the corresponding previous year,
    foreign exchange gains of ¥6.4 billion and ¥5.8 billion, respectively,
    were posted in other expense-net in relation to the commodity derivatives
    trading business at Mitsui.

Americas Segment

Gross profit for the year ended March 31, 2013 was ¥66.0 billion, a decline of
¥9.6 billion from ¥75.6 billion for the corresponding previous year. Novus
International, Inc. reported a decline of ¥6.7 billion due to a decline in
sales price of methionine as well as a write-down on inventories of feed
additives other than methionine.

Operating income for the year ended March 31, 2013 was ¥11.4 billion, a
decline of ¥12.9 billion from ¥24.3 billion for the corresponding previous
year. In addition to the decline in gross profit, this segment reported
increases in the provision for doubtful receivables and in general and
administrative expenses.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥3.5 billion, a decline of ¥0.8 billion from ¥4.3 billion for the
corresponding previous year.

Net income attributable to Mitsui & Co., Ltd. for the year ended March 31,
2013 was ¥12.4 billion, a decline of ¥4.0 billion from ¥16.4 billion for the
corresponding previous year. In addition to the above-mentioned factors, for
the year ended March 31, 2013, 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 year ended March 31, 2013 was ¥15.6 billion, a decline of
¥2.6 billion from ¥18.2 billion for the corresponding previous year.

Operating loss for the year ended March 31, 2013 was ¥3.7 billion, a
deterioration of ¥3.0 billion from ¥0.7 billion for the corresponding previous
year.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥0.4 billion, a decline of ¥0.1 billion from ¥0.5 billion for the
corresponding previous year.

Net loss attributable to Mitsui & Co., Ltd. for the year ended March 31, 2013
was ¥0.9 billion, a decline of ¥2.1 billion from ¥1.2 billion of net profit
for the corresponding previous year.

Asia Pacific Segment

Gross profit for the year ended March 31, 2013 was ¥10.5 billion, a decline of
¥1.2 billion from ¥11.7 billion for the corresponding previous year.

Operating loss for the year ended March 31, 2013 was ¥5.9 billion, a
deterioration of ¥1.7 billion from ¥4.2 billion for the corresponding previous
year.

Equity in earnings of associated companies for the year ended March 31, 2013
was ¥4.9 billion, an increase of ¥0.2 billion from ¥4.7 billion for the
corresponding previous year.

Net income attributable to Mitsui & Co., Ltd. for the year ended March 31,
2013 was ¥27.5 billion, a decline of ¥21.7 billion from ¥49.2 billion for the
corresponding 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

1) Financial Condition

Total assets as of March 31, 2013 were ¥10,324.6 billion, an increase of
¥1,312.8 billion from ¥9,011.8 billion as of March 31, 2012.

Total current assets as of March 31, 2013 were ¥4,631.5 billion, an increase
of ¥205.2 billion from ¥4,426.3 billion as of March 31, 2012. Inventories
increased by ¥230.8 billion. Certain physical commodity swap transactions
related to precious metals, which were previously accounted for as derivative
transactions, are accounted for as financings from the three-month period
ended December 31, 2012, and as a result, an increase of ¥139.0 billion in
inventories was reported. Furthermore, increases in inventories of ¥20.1
billion and ¥11.0 billion were reported due to an increase in trading volume
at petroleum trading business and the mining and construction
machinery-related business in South America. Cinco Pipe & Supply, LLC, a newly
acquired oil and gas well tubular distributor in the United States, also
reported an increase of ¥15.4 billion.

Total current liabilities as of March 31, 2013 increased by ¥421.3 billion to
¥3,045.3 billion from ¥2,624.0 billion as of March 31, 2012. Short-term debt
increased by ¥356.0 billion, including an increase of ¥143.1 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 March 31, 2013 totaled ¥1,586.2 billion, a decline of ¥216.1 billion from
¥1,802.3 billion as of March 31, 2012.

[Diagram omitted]

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 March 31, 2013 totaled ¥5,693.1
billion, an increase of ¥1,107.6 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 March 31, 2013 was
¥3,958.8 billion, an increase of ¥767.1 billion from ¥3,191.7 billion as of
March 31, 2012.

Within this category, investments in and advances to associated companies as
of March 31, 2013 was ¥2,325.3 billion, an increase of ¥616.2 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. for the acquisition of working interests in
    the Browse LNG project;
  *An increase of ¥24.1 billion due to an investment in the Caserones copper
    and molybdenum project in Chile;
  *An increase of ¥20.9 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 due to an acquisition of a 30% stake in renewable energy power
    generation projects in Canada;
  *An increase of ¥9.4 billion due to an acquisition of a 49.9% stake in
    National Plant and Equipment Pty Ltd., an Australian mining equipment
    rental company;
  *Factors that do not involve cash flow included net increases in equity
    earnings of ¥49.4 billion (net of ¥126.8 billion in dividends received
    from associated companies) as well as an increase of ¥224.3 billion
    resulting from a foreign exchange translation adjustment on foreign
    investments due to the depreciation of the Japanese yen.

Other investments as of March 31, 2013 were ¥816.3 billion, an increase of
¥23.8 billion from ¥792.5 billion as of March 31, 2012, mainly due to the
following factors:

  *A ¥43.3 billion net increase in unrealized holding gains on
    available-for-sale securities;
  *An increase of ¥9.4 billion due to an investment in Sodrugestvo Group
    S.A., which operates grain business mainly in Russia;
  *A decline of ¥31.7 billion in investment in Sakhalin Energy Investment
    Company Ltd. due to capital redemption (in addition, a ¥2.9 billion
    increase due to a foreign exchange translation gain); and
  *A decline of ¥22.8 billion due to the recognition of impairment in
    investments.

Non-current receivables, less unearned interest as of March 31, 2013, totaled
¥523.9 billion, an increase of ¥69.7 billion from ¥454.2 billion as of March
31, 2012. Major components included:

  *An increase of ¥78.2 billion in the loan to Codelco’s subsidiary;
  *A decline of ¥17.0 billion (excluding a foreign exchange translation gain
    of ¥1.1 billion) at PT. Bussan Auto Finance (Indonesia) , a motorcycle
    retail finance subsidiary; and
  *A decline of ¥12.5 billion in the loan to Grace Ocean Private Limited, a
    ship-owning company, mainly due to collection of loans.

Property leased to others—at cost, less accumulated depreciation as of March
31, 2013, totaled ¥330.6 billion, an increase of ¥57.9 billion from ¥272.7
billion as of March 31, 2012, mainly due to the following factors:

  *An increase of leased rolling stock for ¥17.4 billion (including a foreign
    exchange translation gain of ¥9.2 billion); and
  *An increase of ¥10.0 billion at ME Serviços de Energia do Brasil
    Participações Ltda., a newly acquired energy service company in Brazil.

Net property and equipment as of March 31, 2013 totaled ¥1,570.3 billion, an
increase of ¥314.4 billion from ¥1,255.9 billion as of March 31, 2012, mainly
due to the following factors:

  *An increase of ¥107.8 billion (including a foreign exchange translation
    gain of ¥33.4 billion) at the Marcellus and Eagle Ford shale gas and oil
    projects in the United States;
  *An increase of ¥103.0 billion (including a foreign exchange translation
    gain of ¥44.6 billion) at iron ore mining projects in Australia;
  *An increase of ¥41.8 billion (including a foreign exchange translation
    gain of ¥17.5 billion) at oil & gas projects other than shale gas and oil
    projects; and
  *An increase of ¥33.5 billion (including a foreign exchange translation
    gain of ¥24.1 billion) at coal mining projects in Australia.

Long-term debt less current maturities as of March 31, 2013 was ¥3,185.0
billion, an increase of ¥286.8 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 March 31, 2013 was
¥3,181.8 billion, an increase of ¥540.5 billion from ¥2,641.3 billion as of
March 31, 2012. The major component of the increase was a net increase of
¥285.6 billion in foreign currency translation adjustments mainly due to
appreciation of the Australian dollar, US dollar and Brazilian real against
the Japanese yen. Furthermore, retained earnings increased by ¥216.7 billion
and unrealized holding gains on available-for-sale securities increased by
¥45.3 billion reflecting the higher stock prices.

As a result, the equity-to-asset ratio as of March 31, 2013, was 30.8%, 1.5
points higher compared to 29.3% as of March 31, 2012. Net interest-bearing
debt, or interest-bearing debt less cash and cash equivalents and time
deposits as of March 31, 2013 was ¥2,839.4 billion, an increase of ¥696.6
billion from ¥2,142.8 billion as of March 31, 2012. The net debt-to-equity
ratio (DER) as of March 31, 2013 was 0.89 times, 0.08 points higher compared
to 0.81 times as of March 31, 2012.

[Table omitted]

2) Cash Flows

Cash Flows from Operating Activities

Net cash provided by operating activities for the year ended March 31, 2013
was ¥461.4 billion, an increase of ¥80.4 billion from ¥381.0 billion for the
corresponding previous year. Major components of net cash provided by
operating activities were our operating income of ¥254.6 billion, dividend
income of ¥195.8 billion, including dividends received from associated
companies, and net cash inflow of ¥2.4 billion from a decline in working
capital, or changes in operating assets and liabilities.

Compared with the corresponding previous year, while operating income declined
by ¥93.8 billion and dividend income declined by ¥49.9 billion, net cash flow
from increases and decreases in working capital improved by ¥209.0 billion.

Cash Flows from Investing Activities

Net cash used in investing activities for the year ended March 31, 2013 was
¥753.3 billion, an increase of ¥315.1 billion from ¥438.2 billion for the
corresponding 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 ¥230.6 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 investment in the Caserones copper and molybdenum project in Chile
         for ¥24.1 billion;
       *Investments in and loans to FPSO leasing businesses for oil and gas
         production in Brazil for ¥20.9 billion;
       *An acquisition of a 30% stake in renewable energy power generation
         projects in Canada; and
       *An acquisition of a 49.9% stake in National Plant and Equipment Pty
         Ltd. for ¥9.4 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 ¥9.2 billion. Cash inflows
    mainly consisted of a capital redemption from Sakhalin Energy Investment
    Company Ltd for ¥31.7 billion. Meanwhile, major cash expenditures included
    an acquisition of oil and gas concessions in the UK North Sea for ¥21.3
    billion and an investment in Sodrugestvo Group S.A. for ¥9.4 billion.
  *Net outflows of cash that corresponded to long-term loan receivables (net
    of collection) were ¥132.6 billion. Increases in long-term loans mainly
    consisted of the loan to Codelco’s subsidiary for ¥146.7 billion (*). The
    major cash inflows was from collection of a loan for ¥13.6 billion from
    Grace Ocean Private Limited as well as a cash inflow of ¥10.0 billion due
    to the decline in loan receivables at PT. Bussan Auto Finance.
  *Net outflows of cash relating to purchases of property leased to others
    and property and equipment (net of sales of those assets) were ¥398.9
    billion. Major expenditures included:

       *Marcellus and Eagle Ford shale gas and oil projects in the United
         States for ¥112.0 billion;
       *Iron ore mining projects in Australia for ¥91.1 billion;
       *Oil and gas projects other than the U.S. shale gas and oil projects
         for a total of ¥84.1 billion;
       *Coal mining projects in Australia for ¥29.1 billion; and
       *Leased rolling stock for ¥22.2 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
with 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 year ended March 31, 2013 was a
net outflow of ¥291.9 billion.

Cash Flows from Financing Activities

For the year ended March 31, 2013, net cash provided by financing activities
was ¥221.6billion, an increase of ¥164.2 billion from net cash provided by
financing activities of ¥57.4 billion for the corresponding previous year.
Cash outflows from payments of cash dividends were ¥91.3 billion. The net cash
inflow from the borrowing of short-term debt was ¥161.5 billion and the net
cash inflow from the borrowing of long-term debt was ¥150.5 billion.

In addition to the changes discussed above, there was an increase in cash and
cash equivalents of ¥64.3 billion due to foreign exchange translation; as a
result, cash and cash equivalents as of March 31, 2013 totaled ¥1,425.2
billion, a decline of ¥5.9 billion from ¥1,431.1billion as of March 31, 2012.

2. Management Policy

(1) Progress with the Medium-term Management Plan to March 31, 2014

1) Progress in five key initiatives

Progress in five key initiatives for the Medium-term Management Plan was as
follows:

(a) Reinforcement of the earnings base and business engineering capabilities

i) Focus on upstream resource businesses

  *In the Metals business area, we acquired a working interest in copper,
    through the joint holding of Anglo American Sur shares with Codelco, and
    expansion of iron ore export port capacity owned by Robe River J/V was
    decided;
  *In the Energy business area, oil and gas concessions in the UK North Sea
    were acquired and an agreement was concluded to acquire an oil field in
    Italy;
  *In the Chemicals business area, a basic agreement was signed with Idemitsu
    Kosan Co., Ltd. for joint production and marketing of alpha olefins that
    utilizes the shale gas produced in the United States; and an initial
    agreement was also reached with The Dow Chemical Company of the United
    States concerning the procurement of feedstock for the production and the
    supply of a part of its production.
  *In the Lifestyle business area, progress was made in enhancing the global
    grain collection network with projects such as investment in Sodrugestvo
    Group S.A. in Russia.

ii) Reinforcement of initiatives in the natural gas value chain

Progress was seen in commercialization projects for LNG in the United States,
Australia and Mozambique. In our shale gas related businesses in the United
States, we are making progress connecting the natural gas value chain to the
chemical businesses by utilizing our business engineering capabilities: an
example would include the above-mentioned project with Idemitsu Kosan Co.,
Ltd. In Mexico, besides participating in the business of this country’s
largest natural gas distribution company, the LNG receiving terminal, a
project in which we played an initiative role during the development stage,
started operation.

iii) Proactive approach to capture the momentum of growth in emerging
economies and to meet global industrial requirement.

We have made steady progress with initiatives in emerging economies in each
business areas, from upstream to downstream businesses. In the Machinery &
Infrastructure business area, operations have started and contributions are
being made to profits by a coal-fired thermal power plant project in Hezhou,
China, automobile assembly business in Russian Far East, and drillship and
FPSO projects in Brazil. In the Lifestyle business area, we have expanded our
hospital and related businesses, utilizing IHH Healthcare Bhd. as a business
platform.

iv) Elevation of functional capabilities and reinforcement of challenges to
create and incubate new businesses

As initiatives to create and incubate new businesses, in the Metals business
area, we are endeavoring to build a functional platform within the value chain
of iron and steel products and automobiles, and to attain this aim, agreed to
invest in Gestamp Automoción S.L.’s North and South American operations.

In addition, to elevate functional capabilities, aiming to integrate finance,
logistics and IT functions and to further contribute to company-wide earnings,
we have established the Innovation & Corporate Development Business Unit on
April 1, 2013.

v) Enhancement of partnership strategy

We have strengthened the relationship with Codelco by conducting a strategic
alliance agreement. In addition, in emerging countries such as Indonesia,
India, Singapore and Thailand, we have strengthened the relationships with
prominent local companies and built the basis for a multifaceted approach in
the future.

vi) Enhancement of project management capabilities

We will continue to strengthen our project management capabilities for the
implementation and promotion of projects and businesses.

(b) Creating businesses for the next generation

Aiming to create businesses that will support our earnings base for the next
generation, we have built a company-wide framework to enhance business
innovation. Centered on the Business Innovation Committee, a committee located
under the Corporate Management Committee, we are implementing plans to
strengthen our ability to formulate new projects, such as building
relationships with universities and research institutions inside and outside
of Japan so as to enhance our information-gathering ability. as well as
introducing the idea of “business innovation projects,” which use criteria for
evaluating next generation projects that are different from those applied to
ordinary investments.

We are also placing an emphasis on participating in domestic businesses that
would contribute to stimulating the local economy. Progress has been seen in
projects such as those one related to the seafood processing zone in
Kesennuma, an aquarium in Sendai, the Softbank Tottori-Yonago Solar Park and
the mega solar power facility project in Higashimatsushima-city of Miyagi
prefecture, all in Japan, which are expected to contribute to revitalization
of local economies.

(c) Evolution of portfolio strategy

Working primarily through the Portfolio Management Committee, we are improving
asset quality and implementing strategic recycling of investments we have
made, and are executing dynamic allocation of management resources.

Continuous effort is being invested in human resources management, such as
recruitment of personnel who match the demands and strengthening of nurturing
program for project managers.

(d) Acceleration of globalization initiatives

By strengthening the ties with prominent local companies in countries and
regions where we conduct business, we succeeded in participating in projects,
such as Yulin Business Park project in Chongqing, China, where we are to
promote inward investment and participate in the selection of sites, and
building development project within a business park in Singapore in
collaboration with Ascendas Ptd Ltd.

The Nay Pyi Taw office in Myanmar being an example, we are establishing
offices and business organizations in our key strategic countries including
the BRICs, Mexico, Indonesia, Mozambique and Myanmar, as well as in frontier
regions such as Africa, thereby raising our presence in the region and
creating new projects.

As for globalization of human resources, we have expanded recruitment into the
international market and are continuously implementing human resources
training programs.

(e) Reinforcement of group management infrastructure

To further strengthen the business and corporate structure and to maximize our
business engineering capabilities for the realization of our vision for the
future as set forth in our current Medium-term Management Plan, starting April
1, 2013, we are reorganizing our business units and corporate staff divisions.

We will continue to develop our own CSR initiatives bearing in mind
“Yoi-Shigoto (good quality work),” as well as enhance and strengthen
communication with the community.

2) Progress with the Investment and Loan Plan

Our progress with the investment plan in each of the six business areas in
this fiscal year is as follows:

[Diagram omitted]

During this fiscal year, the first year of the Medium-term Management Plan, we
executed new investments and loans of approximately ¥960 billion, which was
above the original plan of ¥ 800 billion. In August 2012, we agreed to jointly
acquire 29.5% of the shares in Anglo America Sur S.A. with Codelco and
executed a combined investment and loan of US$3 billion (¥232.6 billion).
Since this transaction was not included in our original annual investments and
loans plan for this fiscal year, the amount of investments and loans for the
Metals business area significantly exceeded the plan.

On the other hand, we collected approximately ¥220 billion through disposal of
assets and investments, which surpassed the original plan of ¥160 billion.

Sakhalin II capital redemption, sale of listed stocks, and collection of loans
in Machinery & Infrastructure business area contributed to contain the
increases of our net cash outflow to ¥100 billion above the original plan.

While our free cash flow for the year ended March 31, 2013 was negative, we
will maintain our efforts to improve our portfolio by further reinforcing our
investment discipline and enhancing recycling of assets. Due to the cash
outflow for the above-mentioned large-scale investment as well as a change in
accounting method regarding certain physical commodity swap transactions
related to precious metals, net DER rose to 0.89 times as of March 31, 2013,
against our original outlook of below 0.8 times during the current Medium-term
Management Plan. Since our plan for the next year is above our original
assumption in the Medium-term Management, we forecast the net DER to rise
somewhat further.

(2) Business Plan for the Year Ending March 31, 2014

1) Forecasts for the year ending March 31, 2014

[Table omitted]

We assume foreign exchange rates for the year ending March 31, 2014 will be
¥95/US$, ¥95/AU$ and ¥45/BRL, while average foreign exchange rates for the
year ended March 31, 2013 were ¥83.32/US$, ¥85.89/AU$ and ¥41.27/BRL. Our
assumption for the annual average crude oil price applicable to our financial
results for the year ending March 31, 2014 is US$106/barrel, down US$8 from
US$114/barrel applied for the year ended March 31, 2013, based on the
assumption that the crude oil price (JCC) will be maintained at US$103/barrel
throughout the year ending March 31, 2014.

Gross profit is expected to be ¥900.0 billion. Despite the assumption that
prices of mineral resources and energy such as oil, iron ore and coal will
decline, we expect an increase in sales volume, as well as a positive effect
from depreciation of the Japanese yen and a recovery of economic conditions in
other business areas. Dividend income is expected to be ¥90.0 billion due to
an increase in dividend income from LNG projects. We anticipate a rebound
effect from impairment losses recorded in the year ended March 31, 2013, in
gains on sales of securities, property and equipment and other gains-net.
Equity in earnings of associated companies is expected to be ¥200.0 billion
reflecting the reversal effect of impairment losses and contribution starting
from equity method investees in which we invested by the year ended March 31,
2013. As a result, net income attributable to Mitsui & Co., Ltd. for the year
ending March 31, 2014 is expected to be ¥370.0 billion.

The forecast for annual operating results by operating segment compared to the
results for the year ended March 31, 2013 is described as follows:

                                     Year ending      Year ended
(Billions of yen)                                                   Change
                                     March 31, 2014   March 31, 2013
Iron & Steel Products                13.0             (2.9)            15.9
Mineral & Metal Resources            107.0            90.5             16.5
Machinery & Infrastructure           22.0             16.9             5.1
Chemicals                            12.0             (1.5)            13.5
Energy                               160.0            164.8            (4.8)
Lifestyle                            16.0             13.0             3.0
Innovation & Corporate Development   (3.0)            4.7              (7.7)
Americas                             17.0             12.4             4.6
Europe, the Middle East and Africa   3.0              (0.9)            3.9
Asia Pacific                         33.0             27.5             5.5
All Other/Adjustments and            (10.0)           (16.6)           6.6
Eliminations
Consolidated total                   370.0            307.9            62.1

Effective April 1, 2013, the Innovation & Cross Function Segment, where IT, FT
and LT capabilities of our company are concentrated, changed its name to
Innovation & Corporate Development Segment. Logistics infrastructure
businesses, including development and management of ports and airport
terminal, advanced materials related businesses such as liquid-crystal and
electronic devices, and media related businesses such as TV Shopping and
broadcasting, all included in the Innovation & Cross Function Segment until
March 31, 2013, were transferred to Machinery & Infrastructure Segment,
Chemicals Segment, and Lifestyle Segment, respectively.

The Innovation & Corporate Development Segment, through its integrated IT, FT
and LT capabilities, aims to solidify a business base for the business fields
included in the scope of this segment, contribute in connecting the various
segments within the company, and provide functions that will contribute in
creating next-generation businesses.

In accordance with the aforementioned change, the operating segment
information for the year ended March 31, 2013 has been restated to conform to
the operating segment as of April 1, 2013.

  *Projected net income attributable to Mitsui & Co., Ltd. from the Iron &
    Steel Products Segment for the year ending March 31, 2014 is ¥13.0
    billion, an increase of ¥15.9 billion from the year ended March 31, 2013.
    We expect an increase in profit attributable to the recovery in market
    conditions and a profit contribution from the automotive components
    manufacturing business in the Americas, in addition to the reversal effect
    of foreign exchange losses recorded in the year ended March 31, 2013.
  *Projected net income attributable to Mitsui & Co., Ltd. from the Mineral &
    Metal Resources Segment is ¥107.0 billion, an increase of ¥16.5 billion
    from the year ended March 31, 2013. The primary reasons for the increase
    are the positive effect from depreciation of the Japanese yen; an increase
    in sales volume of iron ore and copper reflecting expansion investments in
    iron ore projects; and an increase in income from infrastructure expansion
    investments, including port facilities. On the other hand, we took into
    consideration the negative impact of a decline in prices of mineral
    resources.
  *Projected net income attributable to Mitsui & Co., Ltd. from the Machinery
    & Infrastructure Segment is ¥22.0 billion, an increase of ¥5.1 billion
    from the year ended March 31, 2013. While the research and development
    costs for development of a new aircraft engine is expected to increase, we
    also expect positive effect from depreciation of the Japanese yen and
    profit contribution from new projects in the FPSO leasing business and IPP
    business.
  *Projected net income attributable to Mitsui & Co., Ltd. from the Chemicals
    Segment is ¥12.0 billion, an increase of ¥13.5 billion from the year ended
    March 31, 2013. In addition to the recovery in underperforming trading
    activities, such as in petrochemical materials, we anticipated a reversal
    effect of impairment losses on securities recorded in the year ended March
    31, 2013.
  *Projected net income attributable to Mitsui & Co., Ltd. from the Energy
    Segment is ¥160.0 billion, a decline of ¥4.8 billion from the year ended
    March 31, 2013. Expected positive factors include the positive effect from
    depreciation of the Japanese yen; an increase in dividends received from
    LNG projects; and an increase in sales volume of oil & gas and coal.
    Meanwhile, negative factors are also expected including an increase in
    depreciation cost in oil & gas producing activities; a decline in oil and
    coal prices; and the reversal effect of the gain posted in the year ended
    March 31, 2013 from the reversal of deferred tax liabilities at Mitsui Oil
    Exploration Co., Ltd.
  *Projected net income attributable to Mitsui & Co., Ltd. from the Lifestyle
    Segment is ¥16.0 billion, an increase of ¥3.0 billion from the year ended
    March 31, 2013, reflecting the recovery in Multigrain AG, despite the
    reversal effect of gains on sales of securities recorded in the year ended
    March 31, 2013.
  *Projected net loss attributable to Mitsui & Co., Ltd. from the Innovation
    & Corporate Development Segment is ¥3.0 billion, a decline of ¥7.7 billion
    from the year ended March 31, 2013, mainly attributable to the reversal
    effect of gains on sales of securities including those in Nihon Unisys,
    Ltd. and LME Holdings Limited recorded in the year ended March 31, 2013.
  *Projected net income attributable to Mitsui & Co., Ltd. from the Americas
    Segment is ¥17.0 billion, an increase of ¥4.6 billion from the year ended
    March 31, 2013, reflecting the positive effect from depreciation of the
    Japanese yen; an expansion of the chemical tank business; and contribution
    from Cinco Pipe & Supply, LLC. Projected net income attributable to Mitsui
    & Co., Ltd. from the Europe, the Middle East and Africa Segment is ¥3.0
    billion, an increase of ¥3.9 billion from the year ended March 31, 2013,
    reflecting the recovery in business conditions in these regions. Projected
    net income attributable to Mitsui & Co., Ltd. from the Asia Pacific
    Segment is ¥33.0 billion, an increase of ¥5.5 billion from the year ended
    March 31, 2013, due to increases in this segment’s portion of net incomes
    of subsidiaries of the Mineral & Metal Resources and Energy segments.

2) Key commodity prices and other parameters for the year ending March 31,
2014

The table below shows assumptions for key commodity prices and other
parameters for the projected net income attributable to Mitsui & Co., Ltd. for
the year ending March 31, 2014. Effects of price movements for each commodity
on annual net income attributable to Mitsui & Co., Ltd. are included in the
table.

Year ended     Impact on Net Income attributable to Mitsui &   Year ending
March 31, 2013 Co., Ltd.                                       March 31, 2014

Result         for the Year ending March 31, 2014              Assumption
114                        Crude Oil/JCC      ¥1.9 bn          103
114                        Consolidated Oil   (US$1/bbl)       106
                           Price(*1)
129(*2)        Commodity   Iron Ore           ¥2.2 bn          (*3)
                                              (US$1/ton)
7,950(*4)                  Copper             ¥0.6 bn          7,500
                                              (US$100/ton)
83.32                      USD                ¥1.9 bn (¥1/USD) 95
85.89          Forex (*5)  AUD                ¥1.9 bn (¥1/AUD) 95
41.27                      BRL                ¥0.4 bn (¥1/BRL) 45

(*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: 4-6 month time lag, 34%; 1-3
month time lag, 47%; no time lag, 19%.

(*2) Average of representative reference prices (Fine, 62% Fe CFR North China)
during April 2012 to March 2013

(*3) We refrain from disclosing the iron ore price assumptions.

(*4) Average of LME cash settlement price during January 2012 to December 2012

(*5) Impact of currency fluctuation on net income of overseas subsidiaries and
associated companies (denomination in functional currency) against the
Japanese yen

Note: Impact of Foreign Currency Exchange Fluctuation on Operating Results

The total sums for net incomes attributable to Mitsui & Co., Ltd. for the
years ended March 31, 2012 and 2013 reported by overseas subsidiaries and
associated companies were ¥473.5 billion and ¥350.9 billion, respectively.
These companies principally use the U.S. dollar, the Australian dollar and the
Brazilian real as functional currencies in their reporting.

We conducted a simplified estimation for the effect of foreign currency
exchange fluctuations on net income attributable to Mitsui & Co., Ltd. for the
year ending March 2014.

a) We aggregated a total projected net income attributable to Mitsui & Co.,
Ltd. in the business plans of these companies covering the year ending March
31, 2013, according to their functional currencies. Firstly, we aggregated
Australian dollar and Brazilian real denominated projected net income
attributable to Mitsui & Co., Ltd. of those companies using two currencies as
functional currencies. Secondly we aggregate the rest of the projected net
income attributable to Mitsui & Co., Ltd. from overseas subsidiaries and
associated companies as a US dollar-equivalent amount. We conducted a
sensitivity analysis on foreign currency fluctuation for three categories of
aggregated net income attributable to Mitsui & Co., Ltd.

For example; yen appreciation of ¥1 against US$1 would have the net effect of
reducing net income attributable to Mitsui & Co., Ltd. by approximately ¥1.9
billion. Specifically, for the net income attributable to Mitsui & Co., Ltd.
from those companies using Australian dollar and Brazilian real as functional
currencies, appreciation of ¥1 against Australian AU$1 and BRL$1 would have
the net effect of reducing net income attributable to Mitsui & Co., Ltd. by
approximately ¥1.9 billion and ¥0.4 billion, respectively.

b) Net income attributable to Mitsui & Co., Ltd. from those mineral resources
and energy producing companies are affected by the currency fluctuation
between U.S. dollar as a contractual currency of sales contracts and the two
currencies as functional currency, affecting their Australian dollar or
Brazilian real denominated revenues. Attention should be paid to this, in
addition to the impact that is discussed in a) above.

c) Furthermore, some subsidiaries and associated companies, including the
mineral resources and energy related production companies, carry out hedging
on the exchange rates between their functional currencies and the U.S. dollar,
which is the contract currency for sales contracts. There are also cases that
they carry out exchange rate hedging for yen equivalence valuation of net
income attributable to Mitsui & Co., Ltd. that is denominated in foreign
currencies. It is necessary to take the impact of these factors into
consideration separately from the sensitivity resulting from the yen
equivalence valuation of net income attributable to Mitsui & Co., Ltd. in each
of the three currencies mentioned in a) above.

3) Investment and loan plan for the year ending March 31, 2014

During the year ending March 31, 2014, we plan ¥1trillion expenditure for
investments and loans in total. The Medium-term Management Plan has a
provisional budget of ¥600 billion allocated for the year ending March 31,
2014. However, since we continue to see many good investment opportunities to
strengthen our earning base, including high quality upstream assets and
infrastructure projects in emerging countries, we have decided to increase the
investment budget by ¥400 billion.

The ¥1 trillion investment plan consists of investments in the Metals business
area for ¥280 billion, mainly to investments in expansion projects and
on-going projects for iron ore, in the Machinery & Infrastructure business
area for ¥280 billion, in the Chemicals business area for ¥40 billion, in the
Energy business area for ¥320 billion mainly to invest into the onshore oil
field interest in Italy and shale gas and oil related projects in North
America, in the Lifestyle business area for ¥50 billion, and in the Innovation
& Corporate Development area for ¥30 billion.

Concurrently, we expect to implement divestiture projects amounting to ¥170
billion.

As a result, net cash to be used in investing activities is expected to be
¥830 billion, and, while cash flow from operating activities is expected to be
positive, free cash flow is forecasted to be negative. We would like to
reinforce strategic divestitures as well as investments and loans that will
strengthen our earning base, keeping in mind the necessity to recover from
negative free cash flow.

[Diagram omitted]

(3) Shareholder Return Policy

In order to increase corporate value and maximize shareholder value, we have
sought to maintain an optimal balance between (a) meeting investment demand in
areas that are our core strengths and growth largely through re-investments of
our retained earnings, and (b) directly providing returns to shareholders by
paying out cash dividends based on a target dividend payout ratio of
consolidated net income.

For the two-year period of the Medium-term Management Plan to March 2014,
while we principally aim for a steady increase in dividends through
improvements in corporate performance, we will also consider more flexible
compensation to the shareholders, provided that sufficient retained earnings
for future business development is secured. Considering the strengthening of
our financial standings that has been accomplished through the execution of
our previous Medium-term Management Plan, we have set our minimum target
dividend payout ratio at 25%.

As we have announced on November 2, 2012, for the year ended March 31, 2013,
we plan to pay an annual dividend of ¥43 per share, a ¥12 per share decrease
from the corresponding previous year.

Pursuant to our policy, for the year ending March 31, 2014, we currently
envisage an annual dividend of ¥51 per share, an ¥8 increase from the year
ended March 31, 2013, on the assumption that our annual consolidated net
income attributable to Mitsui & Co., Ltd. will be ¥370 billion, as mentioned
in our forecast net income for the year ending March 31, 2014.

We will continue to review the shareholder return policy taking into
consideration the business environment, future investing activity trends, free
cash flow and interest-bearing debt levels, and return on equity.

                                      --

3. Other Information

Notice:

This earnings 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 available to it and involve known and unknown risks,
uncertainties and other factors, including, but not limited to, the outcome of
other events in the Gulf of Mexico relating to the oil spill incident that
occurred in the exploration block of Gulf of Mexico, in which a subsidiary of
Mitsui held certain working interest (Incident). 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, the risk of BP Exploration and Production Inc. and BP
Corporation North America Inc. (collectively, BP Parties) failing to make
payment for claims concerning the Incident that are to be paid by the BP
Parties under the terms of the settlement entered into between MOEX Offshore
2007 LLC (MOEX Offshore), MOEX USA Corporation and Mitsui Oil Exploration Co.,
Ltd. (collectively, MOEX Parties) and the BP Parties, the risk of additional
or amended legal proceedings being brought against MOEX Offshore and its
affiliates by governmental entities or private parties seeking fines,
penalties or sanctions (collectively, Penalties), punitive damages, injunctive
relief and other remedies, and the imposition on the MOEX Parties and their
affiliates in pending or new lawsuits of Penalties, punitive damages,
injunctive relief or other remedies. We note, however, that to date, no
Penalties, punitive damages or injunctive relief have been imposed on MOEX
Offshore in connection with the Incident.

These risks, uncertainties and other factors also involve the other factors
contained in Mitsui’s Annual Securities Report and Quarterly Securities
Reports or in its other public filings, press releases or website disclosures,
and Mitsui undertakes no obligation to publicly update or revise any
forward-looking statements. As a result, given these factors and the magnitude
of the Incident, any such liability could have a material adverse effect on
Mitsui’s consolidated financial position, consolidated operating results or
consolidated cash flows.

4. Consolidated Financial Statements            
(1) Consolidated Balance Sheets                              
                                                   (Millions
                                                                   of Yen)
Assets                                                    
                                               March 31,         March 31,
                                                 
                                               2012              2013
                                   
Current Assets:
       Cash and cash equivalents               ¥ 1,431,112       ¥ 1,425,174
       Time deposits                           4,130             4,740
       Marketable securities                   1,087             367
       Trade receivables:
       Notes and loans, less unearned          322,585           291,052
       interest
       Accounts                                1,616,191         1,608,915
       Associated companies                      116,885         138,588
       Allowance for doubtful receivables        (17,860)        (16,463)
       Inventories                               515,758         746,584
       Advance payments to suppliers             129,987         135,120
       Deferred tax assets―current               37,513          15,644
       Derivative assets                         53,664          61,081
       Other current assets                      215,271         220,729
                Total current assets             4,426,323       4,631,531
Investments and Non-current
Receivables:
       Investments in and advances to
       associated                                1,709,082       2,325,255

       companies
       Other investments                         792,492         816,343
       Non-current receivables, less             454,191         523,904
       unearned interest
       Allowance for doubtful receivables        (36,840)        (37,362)
       Property leased to others―at cost,
       less accumulated depreciation             272,746         330,627

       
                Total investments and            3,191,671       3,958,767
                non-current receivables
Property and Equipment―at Cost:
       Land, land improvements and               202,834         218,801
       timberlands
       Buildings, including leasehold            401,451         442,255
       improvements
       Equipment and fixtures                    1,306,754       1,668,246
       Mineral rights                            158,967         203,142
       Vessels                                  42,539          42,478
       Projects in progress                      152,789         235,084
       Total                                    2,265,334       2,810,006
       Accumulated depreciation                  (1,009,451)     (1,239,736)
                Net property and equipment       1,255,883       1,570,270
Intangible Assets, less Accumulated              110,307         118,448
Amortization
Deferred Tax Assets―Non-current                  15,626          31,538
Other Assets                                     12,013          14,027
                                                        
             Total                    ¥ 9,011,823    ¥ 10,324,581

                                                   (Millions
                                                                    of Yen)
Liabilities and Equity                                             
                                               March 31,         March 31,
                                                 
                                               2012              2013
                                                              
                                                                          
Current Liabilities:
                                                                          
        Short-term debt                          ¥ 307,132       ¥ 663,129
        Current maturities of long-term          372,657         421,211
        debt
        Trade payables:
        Notes and acceptances                    53,308          46,057
        Accounts                                 1,342,343       1,438,287
        Associated companies                     110,289         71,272
        Accrued expenses:
        Income taxes                             73,111          54,091
        Interest                                 16,619          16,985
        Other                                    93,266          80,971
        Advances from customers                  106,787         98,470
        Derivative liabilities                   65,262          83,940
        Other current liabilities                83,256          70,917
                Total current liabilities        2,624,030       3,045,330
Long-term Debt, less Current Maturities          2,898,218       3,184,957
Accrued Pension Costs and Liability for
Severance                                        55,799          68,312

Indemnities
Deferred Tax Liabilities―Non-current             283,614         266,544
Other Long-Term Liabilities                      289,352         319,334
Equity:
        Common stock                             341,482         341,482
        Capital surplus                          430,491         429,828
        Retained earnings:
        Appropriated for legal reserve           65,500          69,653
        Unappropriated                           2,192,494       2,405,008
        Accumulated other comprehensive
        income (loss):
        Unrealized holding gains and losses
        on                                       90,476          135,832

        available-for-sale securities
        Foreign currency translation             (380,457)       (94,912)
        adjustments
        Defined benefit pension plans            (68,163)        (74,124)
        Net unrealized gains and losses on       (24,302)        (24,974)
        derivatives
                Total accumulated other          (382,446)       (58,178)
                comprehensive loss
        Treasury stock, at cost                  (6,203)         (5,974)
                Total Mitsui & Co., Ltd.         2,641,318       3,181,819
                shareholders' equity
                                                                          
        Noncontrolling interests                 219,492         258,285
                Total equity                     2,860,810       3,440,104
                                                         
             Total                    ¥ 9,011,823    ¥ 10,324,581

(2) Statements of Consolidated Income and Comprehensive     
Income
                                          
Statements of Consolidated Income
                                                        (Millions of Yen)
                                            Year ended       Year ended

                                            March 31, 2012   March 31, 2013
                                                                      
                                                                
Revenues:
Sales of products                           ¥ 4,753,167      ¥ 4,408,144
Sales of services                           377,033          392,088
Other sales                                 121,402          111,377
Total revenues                              5,251,602        4,911,609
                                                                      
Total Trading Transactions:
Year ended March 31, 2012, ¥ 10,481,166
million
Year ended March 31, 2013, ¥ 10,049,637
million
                                                                      
Cost of Revenues:
Cost of products sold                       (4,166,337)      (3,901,272)
Cost of services sold                       (147,561)        (161,858)
Cost of other sales                         (59,425)         (58,040)
Total cost of revenues                      (4,373,323)      (4,121,170)
Gross Profit                                878,279          790,439
Other Expenses (Income):
Selling, general and administrative         514,798          521,075
Provision for doubtful receivables          15,097           14,761
Interest expense - net                      5,440            1,186
Dividend income                             (86,461)         (80,057)
Gain on sales of securities - net           (21,937)         (44,905)
Loss on write-down of securities            33,481           27,278
Gain on disposal or sales of property and   (5,697)          (6,207)
equipment - net
Impairment loss of long-lived assets        14,049           12,342
Impairment loss of goodwill                 4,209            -
Other (income) expenses - net               (7,911)          30,868
Total other expenses (income)               465,068          476,341
Income before Income Taxes and Equity in    413,211          314,098
Earnings
Income Taxes:
Current                                     186,815          182,327
Deferred                                    (14,193)         (23,978)
Total income taxes                          172,622          158,349
Income before Equity in Earnings            240,589          155,749
Equity in Earnings of Associated            232,090          176,226
Companies - Net
                                                                      
Net Income before Attribution of            472,679          331,975
Noncontrolling Interests
Net Income Attributable to                 (38,182)        (24,049)
Noncontrolling Interests
Net Income Attributable to Mitsui &        ¥ 434,497       ¥ 307,926
Co., Ltd.
                                                                      
Statements of Consolidated Comprehensive
Income
                                                        (Millions of Yen)
                                            Year ended       Year ended

                                            March 31, 2012   March 31, 2013
                                                                
Net Income before Attribution of            ¥ 472,679        ¥ 331,975
Noncontrolling Interests
Other Comprehensive Income (Loss) (after
income tax effect):
Unrealized holding (losses) gains on        (9,897)          40,871
available-for-sale securities
Foreign currency translation                (37,127)         306,112
adjustments
Defined benefit pension plans               (9,645)          (5,908)
Net unrealized losses on derivatives        (9,899)          (753)
Total Other Comprehensive (Loss) Income     (66,568)         340,322
(after income tax effect)
Comprehensive Income before Attribution     406,111          672,297
of Noncontrolling Interests
Comprehensive Income Attributable to        (33,082)        (41,037)
Noncontrolling Interests
Comprehensive Income Attributable to        ¥ 373,029       ¥ 631,260
Mitsui & Co., Ltd.

Notes:

1.The Statements of Consolidated Income above are not reviewed by the
auditors.

2.The Statements of Consolidated Income above have been adjusted due to the
adoption of ASC 810-10-65.

3."Net Income attributable to Noncontrolling Interests" and "Comprehensive
Loss (Income) attributable to

Noncontrolling Interests" show the amounts deducted to calculate "Net Income
attributable to Mitsui & Co.,

Ltd." and "Comprehensive (Loss) Income attributable to Mitsui & Co., Ltd.",
respectively.

4.Tax effects on investments in associated companies which were formerly
included in "Equity in Earnings of

Associated Companies - Net (After Income Tax Effect)" are included in "Income
Taxes" for the three-month

period ended December 31, 2009. At the same time, "Equity in Earnings of
Associated Companies - Net (After

Income Tax Effect)" are changed to "Equity in Earnings of Associated Companies
- Net." Amounts for three-

month period ended December 31, 2008 have been reclassified to conform to the
current period presentation.

(3)Statements of Changes in           
Consolidated Equity

                                                       (Millions of Yen)
                                        Year ended       Year ended
                                                                        
                                        March 31, 2012   March 31, 2013
Common Stock:
 Balance at beginning of year          ¥   341,482     ¥   341,482       
 Balance at end of year                ¥   341,482     ¥   341,482       
Capital Surplus:
  Balance at beginning of year          ¥   430,152      ¥   430,491
  Equity transactions with
 noncontrolling interest                  339            (663)         
  shareholders
 Balance at end of year                ¥   430,491     ¥   429,828       
Retained Earnings:
  Appropriated for Legal Reserve:
  Balance at beginning of year          ¥   61,763       ¥   65,500
 Transfer from unappropriated             3,737          4,153         
  retained earnings
 Balance at end of year                ¥   65,500      ¥   69,653        
  Unappropriated:
  Balance at beginning of year          ¥   1,860,271    ¥   2,192,494
  Net income attributable to Mitsui &       434,497          307,926
  Co., Ltd.
  Cash dividends paid to Mitsui &           (98,537)         (91,248)
  Co., Ltd. shareholders
  Dividends paid per share:
  Year ended March 31, 2012, ¥54.0
  Year ended March 31, 2013, ¥50.0
  Transfer to retained earnings             (3,737)          (4,153)
  appropriated for legal reserve
 Losses on sales of treasury stock        (0)            (11)          
 Balance at end of year                ¥   2,192,494   ¥   2,405,008     
Accumulated Other Comprehensive
Income (Loss) (After Income Tax
Effect):
  Balance at beginning of year          ¥   (321,135)    ¥   (382,446)
  Unrealized holding (losses) gains         (6,293)          44,052
  on available-for-sale securities
  Foreign currency translation              (35,622)         285,903
  adjustments
  Defined benefit pension plans             (9,619)          (5,961)
  Net unrealized losses on                  (9,934)          (660)
  derivatives
  Equity transactions with
 noncontrolling interest                  157            934           
  shareholders
 Balance at end of year                ¥   (382,446)   ¥   (58,178)      
Treasury Stock, at Cost:
  Balance at beginning of year          ¥   (6,341)      ¥   (6,203)
  Purchases of treasury stock               (16)             (15)
 Sales of treasury stock                  154            244           
 Balance at end of year                ¥   (6,203)     ¥   (5,974)       
 Total Mitsui & Co., Ltd.              ¥   2,641,318   ¥   3,181,819     
  shareholders' equity
                                                                           
                                                                    
                                        Year ended       Year ended
 
                                        March 31, 2012   March 31, 2013
Noncontrolling Interests:
  Balance at beginning of year          ¥   187,142      ¥   219,492
  Dividends paid to noncontrolling          (14,712)         (13,580)
  interest shareholders
  Net income attributable to                38,182           24,049
  noncontrolling interests
  Unrealized holding losses on
  available-for-sale securities             (3,604)          (3,181)
  (after income tax effect)
  Foreign currency translation
  adjustments (after income tax             (1,505)          20,209
  effect)
  Defined benefit pension plans             (26)             53
  (after income tax effect)
  Net unrealized gains (losses) on
  derivatives (after income tax             35               (93)
  effect)
  Equity transactions with
 noncontrolling interest                  13,980         11,336        
  shareholders and other
 Balance at end of year                ¥   219,492     ¥   258,285       
Total Equity:
  Balance at beginning of year          ¥   2,553,334    ¥   2,860,810
  Losses on sales of treasury stock         (0)              (11)
  Net income before attribution of          472,679          331,975
  noncontrolling interests
  Cash dividends paid to Mitsui &           (98,537)         (91,248)
  Co., Ltd. shareholders
  Dividends paid to noncontrolling          (14,712)         (13,580)
  interest shareholders
  Unrealized holding (losses) gains
  on available-for-sale securities          (9,897)          40,871
  (after income tax effect)
  Foreign currency translation
  adjustments (after income tax             (37,127)         306,112
  effect)
  Defined benefit pension plans             (9,645)          (5,908)
  (after income tax effect)
  Net unrealized losses on
  derivatives (after income tax             (9,899)          (753)
  effect)
  Sales and purchases of treasury           138              229
  stock
  Equity transactions with
 noncontrolling interest                  14,476         11,607        
  shareholders and other
 Balance at end of year                ¥   2,860,810   ¥   3,440,104     

(4) Statements of Consolidated Cash Flows


                                                            (Millions of
                                                               Yen)
                                               Year ended     Year ended
                                                March 31, 2012 March 31, 2013
Operating Activities:
 Net income before attribution of              ¥ 472,679      ¥ 331,975
  noncontrolling interests
  Adjustments to reconcile net income before
  attribution of noncontrolling interests to
  net cash provided by operating activities:
      Depreciation and amortization            153,475        198,852
       Pension and severance costs, less        9,243          9,366
       payments
       Provision for doubtful receivables       15,097         14,761
       Gain on sales of securities - net        (21,937)       (44,905)
       Loss on write-down of securities         33,481         27,278
       Gain on disposal or sales of property    (5,697)        (6,207)
       and equipment - net
       Impairment loss of long-lived assets     14,049         12,342
       Impairment loss of goodwill              4,209          -
       Deferred income taxes                    (14,193)       (23,978)
       Equity in earnings of associated         (72,804)       (60,492)
       companies, less dividends received
       Changes in operating assets and
       liabilities:
                 (Increase) decrease in        (134,283)      62,484
                  trade receivables
                  (Increase) decrease in        (33,045)       106,338
                  inventories
                  Increase in trade payables    39,397         11,331
                  Payment for the settlement
                  of the oil spill incident     (86,105)       -
                  in the Gulf of Mexico
               Other - net                  7,418         (177,715)
               Net cash provided by         380,984       461,430
                  operating activities
Investing Activities:
  Net decrease (increase) in time deposits      253            (382)
  Net increase in investments in and advances   (98,896)       (230,592)
  to associated companies
  Net decrease in other investments             2,718          9,155
  Net increase in long-term loan receivables    (1,402)        (132,560)
 Net increase in property leased to others    (340,864)     (398,918)
  and property and equipment
               Net cash used in investing   (438,191)     (753,297)
                  activities
Financing Activities:
  Net increase in short-term debt               41,420         161,481
  Net increase in long-term debt                118,940        150,516
  Transactions with noncontrolling interest     (4,533)        921
  shareholders
  Sales (purchases) of treasury stock - net     138            (13)
 Payments of cash dividends                   (98,571)      (91,270)
               Net cash provided by         57,394        221,635
                  financing activities
Effect of Exchange Rate Changes on Cash and    (10,134)      64,294
Cash Equivalents
Net Decrease in Cash and Cash Equivalents       (9,947)        (5,938)
Cash and Cash Equivalents at Beginning of      1,441,059     1,431,112
Year
Cash and Cash Equivalents at End of Year       ¥ 1,431,112   ¥ 1,425,174

(5) Assumption for Going Concern : None

(6) Basis of Consolidated Financial Statements

Scope of Subsidiaries and Associated Companies

1.  Subsidiaries
     1) Overseas    192
     2) Japan        76

2.   Associated Companies
     1) Overseas     104
     2) Japan        38

A total of 312 subsidiaries and associated companies are excluded from the
above. These include the companies which are sub-consolidated or accounted for
under the equity method by other subsidiaries, other than trading
subsidiaries.

(7) Notes to Consolidated Finalcial Statements
1.Operating Segment Information
                                                                                    
Year ended March 31, 2012 (from April 1, 2011 to March 31, 2012)   (As restated)
                                                                             (Millions of
                                                                                              Yen)
               Iron &     Mineral &   Machinery &                                             Innovation &
           Steel      Metal       Infrastructure   Chemicals   Energy      Lifestyle      Cross
               Products   Resources                                                           Function
                                                                                                           
Revenues       189,338    567,718     312,589          789,283     1,730,010   775,143        171,649
Gross Profit   42,796     194,833     93,957           65,211      219,051     111,959        53,505
Operating
Income         9,637      173,141     (8,181)          10,271      173,533     10,602         (20,056)
(Loss)
Equity in
Earnings
(Losses) of    4,006      131,178     37,985           6,736       53,928      9,282          (20,364)
Associated
Companies
-Net
Net Income
(Loss)
Attributable   9,451      201,264     17,689           9,086       188,085     17,005         (32,177)
to Mitsui &
Co., Ltd.
Total Assets
at March 31,   523,884    1,121,721   1,340,703        685,933     1,750,490   1,239,109      573,493
2012
                                                                                    
                          Europe,
                                                                               Adjustments
           Americas   the         Asia Pacific     Total       All Other                  Consolidated
                          Middle                                               and            Total
                          East and                                             Eliminations
                          Africa
                                                                                                           
Revenues       529,052    119,511     65,056           5,249,349   2,246       7              5,251,602
Gross Profit   75,616     18,151      11,685           886,764     684         (9,169)        878,279
Operating
Income         24,290     (712)       (4,159)          368,366     (5,245)     (14,737)       348,384
(Loss)
Equity in
Earnings
(Losses) of    4,276      451         4,735            232,213     -           (123)          232,090
Associated
Companies
-Net
Net Income
(Loss)
Attributable   16,389     1,232       49,221           477,245     2,196       (44,944)       434,497
to Mitsui &
Co., Ltd.
Total Assets
at March 31,   428,391    106,076     275,758          8,045,558   2,923,772   (1,957,507)    9,011,823
2012
                                                                                                           
                                                                                                           
Year ended March 31, 2013 (from April 1, 2012 to March 31, 2013)
                                                                             (Millions of
                                                                                              Yen)
               Iron &     Mineral &   Machinery &                                             Innovation &
           Steel      Metal       Infrastructure   Chemicals   Energy      Lifestyle      Cross
               Products   Resources                                                           Function
                                                                                                           
Revenues       174,615    540,321     363,538          746,014     1,409,562   800,406        150,060
Gross Profit   40,564     158,749     104,259          69,102      190,743     106,006        41,351
Operating
Income         3,587      123,937     (8,295)          7,394       134,937     (5,505)        (32,855)
(Loss)
Equity in
Earnings of
Associated     3,114      42,865      31,957           6,635       56,725      8,334          18,015
Companies
-Net
Net Income
(Loss)
Attributable   (2,943)    90,453      20,486           (1,256)     164,800     10,323         3,619
to Mitsui &
Co., Ltd.
Total Assets
at March 31,   510,582    1,576,961   1,526,655        703,546     1,940,433   1,313,883      768,952
2013
                                                                                    
                          Europe,
                                                                               Adjustments
           Americas   the         Asia Pacific     Total       All Other                  Consolidated
                          Middle                                               and            Total
                          East and                                             Eliminations
                          Africa
                                                                                                           
Revenues       547,154    95,118      82,922           4,909,710   1,931       (32)           4,911,609
Gross Profit   66,009     15,646      10,513           802,942     934         (13,437)       790,439
Operating
Income         11,428     (3,673)     (5,936)          225,019     (4,524)     34,108         254,603
(Loss)
Equity in
Earnings of
Associated     3,473      398         4,936            176,452     -           (226)          176,226
Companies
-Net
Net Income
(Loss)
Attributable   12,405     (949)       27,536           324,474     1,548       (18,096)       307,926
to Mitsui &
Co., Ltd.
Total Assets
at March 31,   501,536    114,026     321,936          9,278,510   3,540,159   (2,494,088)    10,324,581
2013
                                                                                                           
Notes:

1. “All Other” includes business activities which primarily provide services, such as financing services
and operations services to external customers and/or to the companies and associated companies. Total
assets of “All Other” atMarch 31, 2012 and 2013 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 year ended March 31, 2013, 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 these changes was a decrease in the Operating Income (Loss) and the Net Income (Loss)
Attributable to Mitsui & Co., Ltd. for the year ended March 31, 2013 as follows:
                                                                                                           
                                                                             (Millions of
                                                                                              Yen)
               Iron &     Mineral &   Machinery &                                             Innovation &
             Steel      Metal       Infrastructure   Chemicals   Energy      Lifestyle      Cross
               Products   Resources                                                           Function
Operating
Income         (1,977)    (10,851)    (7,429)          (4,629)     (10,251)    (7,516)        (3,989)
(Loss)
Net Income
(Loss)
Attributable   (1,473)    (8,084)     (5,535)          (3,449)     (7,637)     (5,600)        (2,971)
to Mitsui &
Co., Ltd.
                                                                                                           
5. During the year ended March 31, 2013, “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 business geared 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 creation of new
businesses with its sights set on the next generation.

In accordance with these changes, the operating segment information for the year ended March 31, 2012, has
been restated to conform to the current period presentation.

6. During the year ended March 31, 2013, “Machinery & Infrastructure Project” Segmentchanged its name to
“Machinery & Infrastructure”.

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



2. Net Income Attributable to Mitsui & Co., Ltd. per share
                                                              
The following shows basic net income attributable to Mitsui & Co., Ltd. per
share for the years ended March 31, 2012 and 2013:
                                                                      
Year ended March 31, 2012 (from April 1, 2011 to March 31, 2012)
                            Net income          Shares                Per
                                                                      share
                            (numerator)         (denominator)         amount
                         Millions of Yen     In Thousands          Yen
                                                                      
        Basic Net Income
        Attributable to
                            434,497             1,824,889             238.10
        Mitsui & Co., Ltd.
        per Share
                                                               
                                                                      
Year ended March 31, 2013 (from April 1, 2012 to March 31, 2013)
                            Net income          Shares                Per
                                                                      share
                            (numerator)         (denominator)         amount
                         Millions of Yen     In Thousands          Yen
                                                                      
        Basic Net Income
        Attributable to
                            307,926             1,825,019             168.72
        Mitsui & Co., Ltd.
        per Share
                                                               
                                                                      
        Note : Diluted net income attributable to Mitsui & Co., Ltd. per share
        for the years ended March 31, 2012 and 2013 is

        not disclosed as there are no dilutive potential shares.
                                                                      
3. Subsequent Events
                                                                      
                                                                      
There are no material subsequent events to be disclosed.
                                                                      
        Notes to Leases, Related party transactions, Tax effect accounting,
        Financial instruments, Securities, Derivative instruments, Pension
        cost and severance indemnities, Business combinations, Asset
        retirement obligations and others are omitted because there is less
        necessity for disclosure in the Flash Report.

For diagrams omitted, please see our home page.
(http://www.mitsui.com/jp/en/ir/library/meeting/__icsFiles/afieldfile/2013/05/07/en_133_4q_ta.pdf)

Contact:

Mitsui & Co Ltd

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