Mitsui & Co Ltd: 1st Quarter Results

  Mitsui & Co Ltd: 1st Quarter 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 Three-Month Period Ended June 30, 2014                                 [IFRS]                                                              Tokyo, August 6, 2014 - Mitsui & Co., Ltd. announced its consolidated financial results for the three-month period ended June 30, 2014, based on International Financial Reporting Standards ("IFRS").                                                                                                                                                                                                                                                                     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 (Unreviewed) (1) Consolidated operating results information for the three-month period ended June 30, 2014     (from April 1, 2014 to     June 30, 2014)                                                                                                                                   Three-month period ended June 30,                                                                                                                                                                     2014                            2013                                                                                  %                            %    Revenue                    Millions of yen   1,370,526            △        1,407,293            -                                                                                    2.6 Profit before income           Millions of yen   173,134              △        191,712              -    taxes                                                                           9.7 Profit for the               Millions of yen   133,530              △        139,264              -    period                                                                          4.1 Profit for the period attributable    Millions of yen   127,806              △        132,968              -    to owners of the parent                                                         3.9 Comprehensive income for          Millions of yen   129,254              △        131,685              -    the period                                                                      1.8 Earnings per share attributable to    Yen            71.30                          72.85              owners of the parent, basic Earnings per share attributable to   Yen        71.30                  -                   owners of the parent, diluted Notes: 1. Percentage figures for Revenue, Profit before income taxes, Profit for the period, Profit for the period attributable to owners of the parent, and Comprehensive income for the period represent changes from the previous year.   2. Diluted earnings per share attributable to owners of the parent for the three-month period ended June 30, 2013 is not disclosed as there are no dilutive potential shares.                                                                                                                                     (2) Consolidated financial position information                                                                                                                               June 30, 2014                 March 31, 2014                                                                                     Total                      Millions of yen   11,582,231                   11,491,319               assets Total                      Millions of yen   4,164,731                    4,100,304                equity Total equity attributable to        Millions of yen   3,878,556                    3,815,767                owners of the parent Equity attributable to owners      %          33.5                       33.2                    of the parent ratio                                                                                                                                   2. Dividend information                                                                                                                                                                                                    Year                                                                                                                       ending                                                         Year ended March 31,                                      March 31,                                                                                                                       2015                                                                                                                       (Forecast)                                       2015                       2014                          Interim dividend per           Yen                                     25                           32 share Year-end dividend per          Yen                                     34                           32 share Annual dividend per           Yen                            59                        64 share                                                      3. Forecast of consolidated operating results for the year ending March 31, 2015 (from April 1, 2014 to March 31, 2015)                                                                                                                Year                                                                          ending                                                                           March                                                                          31,                                                                          2015                                                 Profit attributable to                        Millions of     380,000 owners of the parent                                     yen Earnings per share attributable                    Yen           211.99 to owners of the parent, basic Note : We maintain our forecast profit attributable to owners of the parent for the year ending March 31, 2015 of ¥380.0 billion announced together with the results of fiscal year ended March 2014. No updates have been made to this forecast.                                                                                   4. Others (1) Increase/decrease of important subsidiaries during the period : None                                                                                   (2) Number of shares:                                                           June 30, 2014         March 31, 2014                                                 Number of shares of common stock     1,796,514,127         1,829,153,527 issued, including treasury stock Number of shares of          4,004,166          36,641,439 treasury stock                                                                     Three-month period      Three-month period                                      ended June 30, 2014     ended June 30, 2013                                                 Average number of shares of       1,792,511,039      1,825,124,974 common stock outstanding                                                                                                                                                                     Disclosure Regarding Quarterly Review Procedures: As of the date of disclosure of this quarterly earnings report, a review of the quarterly financial statements is being carried out in accordance with the Financial Instruments and Exchange Act.                                                                                   A Cautionary Note on Forward-Looking Statements: This report contains forward-looking statements including those concerning future performance of Mitsui & Co., Ltd. ("Mitsui"), and those 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 cautionary notes with respect to forward-looking statements, please refer to the "Notice" section on p.16.                                                                                   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 August 6, 2014. Contents of the meeting (English and Japanese) will be posted on our web site immediately after the meeting.                                        --  Table of Contents  1. Qualitative Information  (1) Operating Environment…………………………………………………………………………………2  (2) Results of Operations………………………………………………………………………………………2  (3) Financial Condition and Cash Flows……………………………………………………………………10  (4) Information Concerning Profit Forecast for the Year Ending March 31, 2015…………………………14  2. Other Information…………………………………………………………………………………………14  3. Condensed Consolidated Financial Statements  (1) Condensed Consolidated Statements of Financial Position........................................................................15  (2) Condensed Consolidated Statements of Income and Comprehensive Income...........................................17  (3) Condensed Consolidated Statements of Changes in Equity.......................................................................18  (4) Condensed Consolidated Statements of Cash Flows..................................................................................19  (5) Assumption for Going Concern..................................................................................................................19  (6) Segment Information...................................................................................................................................20  1. Qualitative Information  As of the date of disclosure of this quarterly earnings report, the review procedures for quarterly financial statements in accordance with the Financial Instruments and Exchange Act are in progress.  (1) Operating Environment  The following is an overview of the operating environment for the three-month period ended June 30, 2014, and afterwards.  On the whole, advanced nations experienced economic recovery and disinflation while emerging nations experienced economic slowdown and high inflation, with gaps between the two becoming notable in terms of the economy and prices.  Although the U.S. economy suffered a greater-than-expected fall in GDP from January to March due to a severe cold snap, economic fundamentals remained strong as evidenced by steady employment growth, an upturn in the housing market, the wealth effect generated by higher stock prices, and robust corporate earnings. These effects are expected to gradually accelerate U.S. economic growth throughout the second half of the year.  In the Japanese economy, the increased demand prior to the consumption tax hike in April 2014 exceeded previous forecast and there has been consequent downturn in demand from April. Even so, the resultant economic slowdown is forecast to be only temporary mainly due to strong employment and income environment, yen depreciation, and higher stock prices.  In Europe, although the economy has finally bottomed out, economic growth is expected to remain low for the time being reflecting a continuation in the harsh employment situation, heightened deflation concerns due to a substantial gap between supply and demand, and a slump in domestic demand.  In China, government policies that take into account both avoiding economic downturn through fiscal measures and structural reforms are continuing. Although an economic upturn seems unlikely, China is forecast to maintain a certain degree of economic growth in the future.  Looking at other emerging nations, currencies and stock prices strengthened due to eased concerns about a dramatic outflow of funds following the start of scaling back by the U.S. of its third round of quantitative easing (QE3), but slowness in improvement of economic fundamentals such as current account deficits, fiscal deficits and inflation remains a cause for concern.  Turning to current conditions in commodities markets, prices softened due to persistent concerns about a fall in the economic growth rate of China. The spot reference price for iron ore CFR North China (Fe 62%) temporarily fell below the US$90-per-ton level in June. Although the Dubai Crude spot price rose at some points due to heightened geopolitical risks such as problems in Iraq, the price remained stable around US$105 per barrel.  The global economy faces risk factors including slower economic growth in China, heightened geopolitical risks, and the outflow of funds from emerging countries affected by U.S. monetary policy. Nevertheless, we believe that economic growth in the U.S. and other advanced nations will contribute to pull the global economy out of the standstill it experienced in the first half of the year, and the recovery will gradually gain momentum.  (2) Results of Operations  1) Analysis of Consolidated Income Statements  Revenue  Mitsui & Co., Ltd. (“Mitsui”) and its subsidiaries (collectively “we”) recorded total revenue of ¥1,370.5 billion for the three-month period ended June 30, 2014 (“current period”), a decline of ¥36.8 billion from ¥1,407.3 billion for the corresponding three-month period of the previous year (“previous period”).    *Revenue from sales of products for the current period was ¥1,238.0     billion, a decline of ¥47.5 billion from ¥1,285.5 billion for the previous     period, as a result of the following:   *The Energy Segment reported a decline of ¥98.4 billion. The sale of Mitsui     Oil Co., Ltd. resulted in a decline of ¥74.1 billion and petroleum trading     operations recorded a decline of ¥65.0 billion due to a decline in trading     volume. Meanwhile, oil and gas producing operations recorded an increase     of ¥18.2 billion reflecting higher gas prices in the United States and     increased production volume. MMGS Inc., a gas distribution subsidiary in     the United States, also reported an increase of ¥12.3 billion due to an     increase in sales volume.   *The Iron & Steel Products Segment reported a decline of ¥9.2 billion.     Transactions of line pipe to LNG projects had been almost shipped by the     end of the previous year and trading volume of other steel products also     declined.   *The Americas Segment reported an increase of ¥55.5 billion due to an     increase in trading volume of soybean.   *Revenue from rendering of services for the current period was ¥100.7     billion, the same amount as the previous period.   *Other revenue for the current period was ¥31.8 billion, an increase of     ¥10.7 billion from ¥21.1 billion for the previous period. The commodity     derivatives trading business at Mitsui recorded an increase in other     revenue corresponding to a deterioration of ¥9.8 billion in the foreign     exchange gains and losses posted in other expenses.  Gross Profit  Gross profit for the current period was ¥210.4 billion, a decline of ¥0.9 billion from ¥211.3 billion for the previous period.    *The Innovation & Corporate Development Segment reported an increase of     ¥12.0 billion. The commodity derivatives trading business at Mitsui     recorded an increase in gross profit corresponding to a deterioration of     ¥9.8 billion in the foreign exchange gains and losses posted in other     expense.   *The Mineral & Metal Resources Segment reported a decline of ¥4.8 billion.     Iron ore mining operations in Australia reported a decline of ¥5.2 billion     due to lower iron ore prices, which was partially offset by an increase in     income from infrastructure usage and an increase in sales volume.   *The Iron & Steel Products Segment reported a decline of ¥4.3 billion.     Transactions of line pipe to LNG projects had been almost shipped by the     end of the previous year and trading volume of other steel products also     declined.  Other Income (Expenses)  Selling, General and Administrative Expenses  Selling, general and administrative expenses for the current period were ¥139.2 billion, a decline of ¥1.6 billion from ¥140.8 billion for the previous period. The table below provides a breakdown of selling, general and administrative expenses used for our internal review.  Gain on securities and other investments—net  Gain on securities and other investments for the current period was ¥1.2 billion, a decline of ¥10.2 billion from ¥11.4 billion for the previous period.    *There were miscellaneous small transactions for the current period.   *For the previous period, an ¥8.4 billion gain was recorded due to a     reversal of impairment loss on shares in Penske Automotive Group, Inc.,     reflecting a rise in the share price.  Impairment Loss of Fixed Assets  Impairment loss of fixed assets for the current period was ¥0.0 billion, a decline of ¥0.1 billion from ¥0.1 billion for the previous period. There were miscellaneous small transactions in both periods.  Gain on Disposal or Sales of Fixed Assets—Net  Gain on disposal or sales of fixed assets for the current period was ¥0.5 billion, an increase of ¥0.4 billion from ¥0.1 billion for the previous period. There were miscellaneous small transactions in both periods.  Other Expense—Net  Other expense for the current period was ¥1.6 billion, an increase of ¥1.3 billion from ¥0.3 billion for the previous period.    *For the current period, exploration expenses totaled ¥4.4 billion,     including those recorded at oil and gas producing businesses.   *For the previous period, exploration expenses totaled ¥6.3 billion,     including those recorded at oil and gas producing businesses. Furthermore,     the Innovation & Corporate Development Segment recorded foreign exchange     gains of ¥8.9 billion in the commodity derivatives trading business at     Mitsui, which corresponded to related gross profit in the same segment.  Finance Income (Costs)  Interest Income  Interest income for the current period was ¥8.4 billion, an increase of ¥3.0 billion from ¥5.4 billion for the previous period.  Dividend Income  Dividend income for the current period was ¥41.0 billion, a decline of ¥8.8 billion from ¥49.8 billion for the previous period.    *Dividends from six LNG projects (Sakhalin II, Qatargas 1, Abu Dhabi, Oman,     Qatargas 3 and Equatorial Guinea) were ¥29.1 billion in total, a decline     of ¥12.4 billion from ¥41.5 billion for the previous period, due to a     decline in dividends received from the Sakhalin II project.   *Dividends from preferred shares in JA Mitsui Leasing Ltd. increased by     ¥4.0 billion.  Interest Expense  Interest expense for the current period was ¥11.7 billion, a decline of ¥0.5 billion from ¥12.2 billion for the previous period. The following table provides the month-end average of three-month Tibor for the Japanese yen and three-month Libor for the U.S. dollar for the both periods.               Current Period  Previous Period Japanese yen   0.21%            0.23% U.S. dollar   0.23%           0.27%  Share of Profit of Investments Accounted for Using the Equity Method  Share of profit of investments accounted for using the equity method for the current period was ¥64.3 billion, a decline of ¥2.8 billion from ¥67.1 billion for the previous period.    *Valepar S.A. reported a decline of ¥4.0 billion, reflecting lower iron ore     prices and impairment losses on assets related to an iron ore mine in     Guinea and a coal mine in Australia owned.   *For the previous period, Arch Pharmalabs Limited, a pharmaceutical     contract manufacturer in India, posted a ¥4.2 billion impairment loss on     fixed assets and other assets.  Income Taxes  Income taxes for the current period were ¥39.6 billion, a decline of ¥12.8 billion from ¥52.4 billion for the previous period. Profit before income taxes for the current period was ¥173.1 billion, a decline of ¥18.6 billion from ¥191.7 billion for the previous period. In response, applicable income taxes also declined.  The effective tax rate for the current period was 22.9%, a decline of 4.5% from 27.4% for the previous period. The major factor for the decline was a decrease in the ratio of income tax effect related to equity accounting against profit before income taxes.  Profit for the Period  As a result of the above factors, profit for the period was ¥133.5 billion, a decline of ¥5.8 billion from ¥139.3 billion for the previous period.  Profit for the Period Attributable to Owners of the Parent  Profit for the period attributable to owners of the parent was ¥127.8 billion, a decline of ¥5.2 billion from ¥133.0 billion for the previous period.  2) EBITDA  We use EBITDA as a measure of underlying earning power from the current period.  EBITDA is the total of “gross profit,” “selling, general and administrative expenses,” “dividend income” and “share of profit of investments accounted for using the equity method” from the consolidated states of income and “depreciation and amortization” from the consolidated statements of cash flows.  (Billions of Yen)                               Current   Previous  Change                                                  Period     Period EBITDA (a+b+c+d+e) (*1)                          244.2      240.1      +4.1   Gross profit                            a   210.4      211.3      (0.9)     Selling, general and administrative      b   (139.2)    (140.8)    +1.6     expenses     Dividend Income                          c   41.0       49.8       (8.8)     Profit of equity method investments      d   64.3       67.1       (2.8)     (*2)   Depreciation and amortization           e  67.7      52.7      +15.0  *1 M ay not match with the total of items due to rounding off. The same shall apply hereafter.  *2 “Profit of equity method investments” means “share of profit of investments accounted for using the equity method” in the consolidated statements of income. The same shall apply hereafter.  3) Operating Results by Operating Segment  Iron & Steel Products Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            2.1       7.3        (5.2)       Gross profit                               10.1      14.4       (4.3)        Selling, general and administrative        (9.6)     (9.4)      (0.2)        expenses        Dividend Income                            0.8       0.5        +0.3        Profit of equity method investments        0.5       1.4        (0.9)       Depreciation and amortization              0.3       0.3        0.0 Profit for the period attributable to owners of  1.0      3.0       (2.0) the parent  EBITDA declined by ¥5.2 billion, mainly due to the following factors:  Gross profit declined by ¥4.3 billion. Transactions of line pipe to LNG projects had been almost shipped by the end of the previous year and trading volume of other steel products also declined.  Profit of equity method investments declined by ¥0.9 billion.  Profit for the period attributable to owners of the parent declined by ¥2.0 billion. In addition to the above-mentioned factors, foreign exchange losses corresponding to transactions of line pipe declined by ¥1.9 billion.  Mineral & Metal Resources Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            71.3      76.1       (4.8)       Gross profit                               45.0      49.8       (4.8)        Selling, general and administrative        (10.0)    (10.4)     +0.4        expenses        Dividend Income                            0.5       0.3        +0.2        Profit of equity method investments        21.9      26.6       (4.7)       Depreciation and amortization              13.8      10.0       +3.8 Profit for the period attributable to owners of  38.7     39.6      (0.9) the parent  EBITDA declined by ¥4.8 billion, mainly due to the following factors:  Gross profit declined by ¥4.8 billion reflecting an impact from lower iron ore prices on iron ore mining operations in Australia.  As for iron ore pricing, the majority of contract prices applied to products sold during the current period were based on pricing that more closely reflects current spot reference prices, the same pricing as applied in the previous year, such as a daily average of spot reference prices for the current quarter of shipments and a daily average of spot reference prices for the shipment month.  Mitsui Iron Ore Development Pty. Ltd. reported a decline of ¥5.1 billion in gross profit, reflecting lower iron ore prices, which was partially offset by an increase in income from infrastructure usage and an increase in sales volume owing to increased capacity.  Profit of equity method investments declined by ¥4.7 billion. Valepar S.A. posted ¥8.4 billion of profit, a decline of ¥4.0 billion from ¥12.4 billion for the previous period, reflecting lower iron ore prices and impairment losses on assets related to an iron ore mine in Guinea and a coal mine in Australia.  Depreciation and amortization increased by ¥3.8 billion. Iron ore mining operations in Australia reported an increase of ¥3.6 billion.  Profit for the period attributable to owners of the parent declined by ¥0.9 billion.  Machinery & Infrastructure Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            16.5      14.0       2.5        Gross profit                             27.4      27.7       (0.3)          Selling, general and administrative      (31.9)    (31.2)     (0.7)          expenses          Dividend Income                          1.3       1.2        +0.1          Profit of equity method investments      15.0      11.9       +3.1         Depreciation and amortization            4.7       4.4        +0.3 Profit for the period attributable to owners of  11.6     9.8       +1.8 the parent  EBITDA increased by ¥2.5 billion, mainly due to the following factors:  Gross profit declined by ¥0.3 billion.    *The Infrastructure Projects Business Unit reported the same amount as the     previous period.   *The Integrated Transportation Systems Business Unit reported a decline of     ¥0.3 billion.  Profit of equity method investments increased by ¥3.1 billion.    *The Infrastructure Projects Business Unit reported a decline of ¥0.1     billion. IPP businesses posted profit of ¥6.3 billion in total, a decline     of ¥1.6 billion from ¥7.9 billion for the previous period. A decline of     ¥3.0 billion was caused by the one-time negative factor related to     deferred tax recorded in the current period. Meanwhile, mark-to-market     valuation gains and losses, such as those on long-term power derivative     contracts and long-term fuel purchase contracts, improved by ¥1.8 billion     to a gain of ¥2.1 billion from ¥0.3 billion for the previous period.   *The Integrated Transportation Systems Business Unit reported an increase     of ¥3.2 billion. Automotive-related business in North America achieved a     solid performance.  Profit for the period attributable to owners of the parent increased by ¥1.8 billion. In addition to the above-mentioned factors, in the previous period, this segment recorded a ¥6.7 billion gain due to a reversal of impairment loss on shares in Penske Automotive Group, Inc., reflecting a rise in the share price.  Chemicals Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            6.1       7.9        (1.8)        Gross profit                             18.5      20.3       (1.8)          Selling, general and administrative      (16.7)    (16.7)     0.0          expenses          Dividend Income                          0.5       0.7        (0.2)          Profit of equity method investments      1.5       1.5        0.0         Depreciation and amortization            2.3       2.1        +0.2 Profit for the period attributable to owners of  2.6      3.9       (1.3) the parent  EBITDA declined by ¥1.8 billion, mainly due to the following factors:  Gross profit declined by ¥1.8 billion.    *The Basic Chemicals Business Unit reported an increase of ¥0.1 billion.   *The Performance Chemicals Business Unit reported a decline of ¥1.9     billion. P.T. Kaltim Pasifik Amoniak, an ammonia producer in Indonesia,     reported a decline of ¥3.1 billion due to a shutdown at the end of     previous year as a result of an asset transfer under the     build-operate-transfer (BOT) contract.  Profit of equity method investments was the same amount as the previous period.  Profit for the period attributable to owners of the parent declined by ¥1.3 billion.  Energy Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            119.5     121.1      (1.6)        Gross profit                             52.9      50.2       +2.7          Selling, general and administrative      (13.7)    (15.0)     +1.3          expenses          Dividend Income                          30.0      42.7       (12.7)          Profit of equity method investments      13.7      16.6       (2.9)         Depreciation and amortization            36.6      26.7       +9.9 Profit for the period attributable to owners of  56.7     64.7      (8.0) the parent  EBITDA declined by ¥1.6 billion yen, mainly due to the following factors:  The weighted average crude oil prices applied to our operating results for the current period and the previous period were estimated to be US$111 and US$112 per barrel, respectively.  Gross profit increased by ¥2.7 billion, primarily due to the following factors:    *Mitsui E&P USA LLC reported an improvement of ¥6.0 billion, reflecting     higher gas prices in the United States.   *Mitsui E&P Australia Pty Limited reported an improvement of ¥5.2 billion     due to a reversal of declined production during the previous period     associated with refurbishment of its oil production facility.   *A decline of ¥3.1 billion was recorded from LNG transactions.  Dividend income decreased by ¥12.7 billion due to a decline in dividends received from the Sakhalin II project. Dividends from six LNG projects (Sakhalin II, Qatargas 1, Abu Dhabi, Oman, Qatargas 3 and Equatorial Guinea) were ¥29.1 billion in total, a decline of ¥12.4 billion from ¥41.5 billion for the previous period.  Profit of equity method investments declined by ¥2.9 billion.  Depreciation and amortization increased by ¥9.9 billion. Oil and gas producing operations recorded an increase of ¥10.3 billion.  Profit for the period attributable to owners of the parent declined by ¥8.0 billion. In addition to the above, exploration expenses of ¥4.0 billion in total and ¥6.0 billion in total were recorded for the current period and the previous period, respectively.  Lifestyle Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            2.8       3.4        (0.6)        Gross profit                             26.3      27.9       (1.6)          Selling, general and administrative      (35.3)    (31.5)     (3.8)          expenses          Dividend Income                          2.5       2.5        0.0          Profit of equity method investments      6.2       1.8        +4.4         Depreciation and amortization            3.1       2.7        +0.4 Profit for the period attributable to owners of  0.2      (1.1)     +1.3 the parent  EBITDA declined by ¥0.6 billion, mainly due to the following factors:  Gross profit declined by ¥1.6 billion.    *The Food Resources Business Unit reported a decline of ¥0.4 billion.   *The Food Products & Services Business Unit recorded a decline of ¥0.8     billion   *The Consumer Service Business Unit reported a decline of ¥0.4 billion.  Selling, general and administrative expenses increased by ¥3.8 billion due to increases in Multigrain Trading AG and new subsidiaries.  Profit of equity method investments increased by ¥4.4 billion.    *The Food Resources Business Unit reported the same amount as the previous     period.   *The Food Products & Services Business Unit reported a decline of ¥0.1     billion.   *The Consumer Service Business Unit reported an increase of ¥4.6 billion.     Arch Pharmalabs Limited, a pharmaceutical contract manufacturer in India,     posted a ¥4.2 billion impairment loss on fixed assets and other assets for     the previous period.  Profit for the period attributable to owners of the parent increased by ¥1.3 billion.  Innovation & Corporate Development Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            0.9       (11.9)     +12.8         Gross profit                            9.5       (2.5)      +12.0           Selling, general and administrative     (15.4)    (15.5)     +0.1           expenses           Dividend Income                         4.3       0.5        +3.8           Profit of equity method investments     1.2       4.2        (3.0)          Depreciation and amortization           1.3       1.3        0.0 Loss for the period attributable to owners of    (0.9)    (1.7)     +0.8 the parent  EBITDA increased by ¥12.8 billion, mainly due to the following factors:  Gross profit increased by ¥12.0 billion. There was an increase in gross profit corresponding to a ¥9.8 billion deterioration of foreign exchange gains and losses related to the commodity derivatives trading business at Mitsui posted in other expense for the current period and for the previous period.  Dividend income increased by ¥3.8 billion. Dividends from preferred shares in JA Mitsui Leasing Ltd. increased by ¥4.0 billion.  Profit of equity method investments declined by ¥3.0 billion due to a decline in profit of JA Mitsui Leasing Ltd.  Loss for the period attributable to owners of the parent improved by ¥0.8 billion. In addition to the above-mentioned factors, for the current period and for the previous period, foreign exchange losses of ¥0.9 billion and gains of ¥8.9 billion, respectively, were posted in other expense in relation to the commodity derivatives trading business at Mitsui.  Americas Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            7.5       7.8        (0.3)        Gross profit                             18.4      19.4       (1.0)          Selling, general and administrative      (15.2)    (15.3)     + 0.1          expenses          Dividend Income                          0.0       0.0        0.0          Profit of equity method investments      2.3       1.7        +0.6         Depreciation and amortization            2.1       1.9        +0.2 Profit for the period attributable to owners of  5.8      5.0       +0.8 the parent  EBITDA declined by ¥0.3 billion, mainly due to the following factors:  Gross profit declined by ¥1.0 billion.  Profit of equity method investments increased by ¥0.6 billion.  Profit for the period attributable to owners of the parent increased by ¥0.8 billion.  Europe, the Middle East and Africa Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            (0.2)     (0.3)      +0.1        Gross profit                             4.3       4.3        0.0          Selling, general and administrative      (5.0)     (4.9)      (0.1)          expenses          Dividend Income                          0.0       0.0        0.0          Profit of equity method investments      0.4       0.1        +0.3         Depreciation and amortization            0.1       0.2        (0.1) Profit for the period attributable to owners of  1.1      0.4       +0.7 the parent  EBITDA increased by ¥0.1 billion, mainly due to the following factors:  Gross profit was the same as the previous period.  Profit of equity method investments increased by ¥0.3 billion.  Profit for the period attributable to owners of the parent increased by ¥0.7 billion.  Asia Pacific Segment  (Billions of Yen)                                Current  Previous  Change                                                   Period    Period EBITDA                                            0.5       0.7        (0.2)        Gross profit                             2.9       3.5        (0.6)          Selling, general and administrative      (4.6)     (4.5)      (0.1)          expenses          Dividend Income                          0.4       0.6        (0.2)          Profit of equity method investments      1.7       1.0        +0.7         Depreciation and amortization            0.2       0.1        +0.1 Profit for the period attributable to owners of  10.3     10.7      (0.4) the parent  EBITDA declined by ¥0.2 billion, mainly due to the following factors:  Gross profit declined by ¥0.6 billion.  Profit of equity method investments increased by ¥0.7 billion.  Profit for the period attributable to owners of the parent declined by ¥0.4 billion. In addition to the above, this segment recorded profit from the segment’s minority interest in iron ore mining and coal mining operations in Australia.  (3) Financial Condition and Cash Flows  1) Financial Condition  Total assets as of June 30, 2014 were ¥11,582.2 billion, an increase of ¥90.9 billion from ¥11,491.3 billion as of March 31, 2014.  Total current assets as of June 30, 2014 were ¥4,496.3 billion, an increase of ¥30.9 billion from ¥4,465.4 billion as of March 31, 2014. Inventories increased by ¥51.3 billion, mainly due to a seasonal increase at Multigrain Trading AG. As of June 30, 2014, assets of ¥122.1 billion and liabilities of ¥61.8 billion were transferred to the assets held for sale and liabilities directly associated with assets held for sale accounts, respectively, due to the planned merger of domestic construction steel and metal scrap businesses of Mitsui & Co., Steel Ltd. with Metal One Structural Steel & Resource Corporation.  Total current liabilities as of June 30, 2014 were ¥2,945.5 billion, a decline of ¥39.2 billion from ¥2,984.7 billion as of March 31, 2014. Current portion of long-term debt declined by ¥51.7 billion due to repayment, while short-term debt increased by ¥31.7 billion.  As a result, working capital, or current assets less current liabilities, as of June 30, 2014, totaled ¥1,550.8 billion, an increase of ¥70.1 billion from ¥1,480.7 billion as of March 31, 2014.  Total non-current assets as of June 30, 2014 totaled ¥7,085.9 billion, an increase of ¥60.0 billion from ¥7,025.9 billion as of March 31, 2014, mainly due to the following factors:    *Investments accounted for using the equity method as of June 30, 2014 was     ¥2,520.2 billion, an increase of ¥71.4 billion from ¥2,448.8 billion as of     March 31, 2014. A major factor was an increase of ¥70.1 billion due to an     acquisition of a 20% stake in VLI S.A., which is engaged in integrated     freight transportation in Brazil.  Furthermore, factors that do not involve cash flow included a decline of ¥19.3 billion resulting from foreign currency exchange fluctuations despite a net increase of ¥4.6 billion corresponding to the profit of equity method (net of ¥59.7 billion in dividends received from equity accounted companies).    *Other investments as of June 30, 2014 were ¥1,558.1 billion, an increase     of ¥3.4 billion from ¥1,554.7 billion as of March 31, 2014, mainly due to     the following factors:  - A ¥25.1 billion net increase due to valuation on financial assets measured at FVTOCI; and  - A ¥10.8 billion net decline due to foreign currency exchange fluctuations.    *Property, plant and equipment as of June 30, 2014 totaled ¥2,023.8     billion, an increase of ¥16.3 billion from ¥2,007.5 billion as of March     31, 2014, mainly due to an increase of ¥9.9 billion (including a foreign     exchange translation gain of ¥1.3 billion) at iron ore mining operations     in Australia.  Total non-current liabilities as of June 30, 2014 totaled ¥4,472.0 billion, an increase of ¥65.6 billion from ¥4,406.4 billion as of March 31, 2014. Long-term debt, less current portion as of June 30, 2014 was ¥3,550.2 billion, an increase of ¥81.9 billion from ¥3,468.3 billion as of March 31, 2014, mainly due to an increase in long-term borrowings at the Marcellus and Eagle Ford shale gas and oil producing operations in the United States.  Total equity attributable to owners of the parent as of June 30, 2014 was ¥3,878.6 billion, an increase of ¥62.8 billion from ¥3,815.8 billion as of March 31, 2014. Major components included:    *Treasury stock declined by ¥50.1 billion, due to a cancellation;   *Retained earnings increased by ¥15.4 billion which was partially offset by     a payment of dividend and a cancellation of treasury stock; and   *Other components of equity as of June 30, 2014 declined by ¥2.7 billion to     ¥763.9 billion from ¥766.6 billion as of March 31, 2014, mainly due to the     following factors:  - Foreign currency translation adjustments declined by ¥12.9 billion, reflecting the depreciation of the U.S. dollar against the Japanese yen; and  - Financial assets measured at FVTOCI increased by ¥14.8 billion reflecting the higher stock prices.  Net interest-bearing debt, or interest-bearing debt less cash and cash equivalents and time deposits as of June 30, 2014 was ¥3,230.7 billion, an increase of ¥51.9 billion from ¥3,178.8 billion as of March 31, 2014. The net debt-to-equity ratio (DER) as of June 30, 2014 was 0.83 times, the same level as March 31, 2014.  2) Cash Flows  Cash Flows from Operating Activities  (Billions of Yen)                  Current Period  Previous Period  Change Cash flows from operating    a     130.1            82.8              +47.3 activities Cash flows from change in     b     (71.1)           (103.8)           +32.7 working capital Core operating cash flow      a-b   201.2            186.6             +14.6  Net cash provided by operating activities for the current period was ¥130.1 billion, an increase of ¥47.3 billion from ¥82.8 billion for the previous period.  Net cash outflow from an increase in working capital, or changes in operating assets and liabilities for the current period was ¥71.1 billion, a decline of ¥32.7 billion from ¥103.8 billion for the previous period.  Core operating cash flow, cash flows from operating activities without the net cash outflow from an increase in working capital, for the current period amounted ¥201.2 billion, an increase of ¥14.6 billion from ¥186.6 billion for the previous period.    *Depreciation and amortization for the current period was ¥67.7 billion, an     increase of ¥15.0 billion from ¥52.7 billion for the previous period.   *Net cash inflow from dividend income, including dividends received from     equity accounted investees, for the current period totaled ¥98.2 billion,     a decline of ¥2.2 billion from ¥100.4 billion for the previous period.  The following table shows core operating cash flow by operating segment.  (Billions of Yen)                  Current Period  Previous Period  Change Iron & Steel Products               1.9              3.0               (1.1) Mineral & Metal Resources           51.4             46.2              +5.2 Machinery & Infrastructure          14.4             8.2               +6.2 Chemicals                           7.1              10.8              (3.7) Energy                              97.9             100.1             (2.2) Lifestyle                           (0.1)            3.6               (3.7) Innovation & Corporate              2.5              (0.5)             +3.0 Development Americas                            7.3              4.2               +3.1 Europe, the Middle East and         0.2              (3.0)             +3.2 Africa Asia Pacific                        2.3              1.2               +1.1 All Other and Adjustments and       16.3             12.8              +3.5 Eliminations Consolidated Total                 201.2           186.6            +14.6  Cash Flows from Investing Activities  Net cash used in investing activities for the current period was ¥151.4 billion, a decline of ¥21.1 billion from ¥172.5 billion for the previous period. The net cash used in investing activities consisted of:    *Net cash outflows that corresponded to investments in and advances to     equity accounted investees (net of sales of investments and collection of     advances) were ¥64.3 billion. The major cash outflow was an acquisition of     a 20% stake in VLI S.A. for ¥70.1 billion. The major cash inflow was     redemption of preferred shares in Valepar S.A. for ¥10.0 billion.   *Net cash outflows that corresponded to other investments (net of sales and     maturities of other investments) were ¥5.4 billion.   *Net cash inflows that corresponded to long-term loan receivables (net of     collection) were ¥12.7 billion.   *Net outflows that corresponded to purchases of property, plant, equipment     and investment property (net of sales of those assets) were ¥79.4 billion.     Major expenditures included:   *Oil and gas projects other than the U.S. shale gas and oil projects for a     total of ¥30.8 billion;   *Iron ore mining projects in Australia for ¥20.9 billion; and   *Marcellus and Eagle Ford shale gas and oil projects in the United States     for ¥16.7 billion.  The major cash inflows included the sale of an ammonia plant by P.T. Kaltim Pasifik Amoniak for ¥9.9 billion.  Free cash flow, or the sum of net cash provided by operating activities and net cash used in investing activities, for the current period was a net outflow of ¥21.3 billion.  Cash Flows from Financing Activities  For the current period, net cash provided by financing activities was ¥20.8billion, an increase of ¥6.5 billion from ¥14.3 billion for the previous period. The net cash inflow from the borrowing of long-term debt was ¥51.7 billion and short-term debt was ¥36.2 billion. Meanwhile, the cash outflow from payments of cash dividends were ¥61.0 billion.  In addition to the changes discussed above, there was a decline in cash and cash equivalents of ¥5.1 billion due to foreign exchange translation and a decline of ¥0.4 billion due to the reclassification to assets held for sale; as a result, cash and cash equivalents as of June 30, 2014 totaled ¥1,221.3 billion, a decline of ¥4.2 billion from ¥1,226.3billion as of March 31, 2014.  (4) Information Concerning Profit Forecast for the Year Ending March 31, 2015  We maintain our profit forecast for the year ending March 31, 2015 attributable to owners of the parent of ¥380.0 billion announced together with the results of the year ended March 31, 2014. No updates have been made to this forecast.  2. Other Information  Notice:  This flash report contains forward-looking statements about Mitsui and its consolidated subsidiaries. These forward-looking statements are based on Mitsui’s current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui’s actual consolidated financial position, consolidated operating results or consolidated cash flows to be materially different from any future consolidated financial position, consolidated operating results or consolidated cash flows expressed or implied by these forward-looking statements.  These risks, uncertainties and other factors include, among others, (1) economic downturns worldwide or at specific regions, (2) fluctuations in commodity prices, (3) fluctuations in exchange rates, (4) credit risks from clients with which Mitsui and its consolidated subsidiaries have business transactions or financial dealings and/or from various projects, (5) declines in the values of non-current assets, (6) changes in the financing environment, (7) declines in market value of equity and/or debt securities, (8) changes in the assessment for recoverability of deferred tax assets, (9) inability to successfully restructure or eliminate subsidiaries or associated companies as planned, (10) unsuccessful joint ventures and strategic investments, (11) risks of resource related businesses not developing in line with assumed costs and schedules and uncertainty in reserves and performance of third party operators, (12) loss of opportunities to enter new business areas due to limitations on business resources, (13) environmental laws and regulations, (14) changes in laws and regulations or unilateral changes in contractual terms by governmental entities, (15) employee misconduct, (16) failure to maintain adequate internal control over financial reporting, and (17) climate change and natural disaster. For further information on the above, please refer to Mitsui’s Annual Securities Report.  Forward-looking statements may be included in Mitsui’s Annual Securities Report and Quarterly Securities Reports or in its other disclosure documents, press releases or website disclosures. Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.                                                                 3. Condensed Consolidated Financial Statements (1) Condensed Consolidated Statements of Financial Position                                           (Millions of                                                               Yen) Assets                                                                                           March 31,            June 30,                                                                                                     2014                 2014                                                                               Current Assets:          Cash and cash                   ¥                    ¥          equivalents                     1,226,317            1,221,257          Trade and other                 2,040,855            1,922,816          receivables          Other financial                 271,288              240,027          assets          Inventories                     625,328              676,618          Advance payments                183,576              174,777          to suppliers          Assets held                     -                   122,143          for sale        Other current            118,049            138,695                assets           Total current        4,465,413       4,496,333                 assets Non-current Assets:          Investments accounted          for using the equity            2,448,848            2,520,162          method          Other                           1,554,673            1,558,135          investments          Trade and other                 470,880              440,076          receivables          Other financial                 116,298              114,170          assets          Property, plant                 2,007,452            2,023,823          and equipment          Investment                      139,334              144,255          property          Intangible                      144,153              141,067          assets          Deferred tax                    74,419               74,084          assets          Other        non-current              69,849             70,126                 assets              Total           non-current           7,025,906          7,085,898                  assets           Total             ¥               ¥                                                     11,491,319           11,582,231                                                                                                                 (Millions of                                                                Yen) Liabilities and                                                 Equity                                       March 31,            June 30,                                                                                                       2014                 2014                                                                                                                                                               Current Liabilities:         Short-term debt                   ¥ 436,869            ¥ 468,616         Current portion of                505,946              454,221         long-term debt         Trade and other                   1,473,834            1,387,449         payables         Other financial                   301,047              293,701         liabilities         Income tax                        42,857               42,603         payables         Advances from                     165,124              172,659         customers         Provisions                        17,491               23,976         Liabilities directly         associated with assets held       -                   61,815         for sale       Other current              41,486             40,487                liabilities            Total current         2,984,654          2,945,527                   liabilities Non-current Liabilities:         Long-term debt, less              3,468,301            3,550,163         current portion         Other financial                   95,541               92,807         liabilities         Retirement benefit                69,558               68,858         liabilities         Provisions                        174,855              176,938         Deferred tax                      567,281              564,603         liabilities       Other non-current           30,825             18,604                liabilities               Total            non-current            4,406,361          4,471,973                   liabilities            Total                7,391,015          7,417,500                   liabilities Equity:         Common stock                      341,482              341,482         Capital surplus                   418,004              415,023         Retained earnings                 2,345,790            2,364,066         Other components of               766,631              763,937         equity       Treasury stock            -56,140            -5,952                      Total equity            attributable to owners     3,815,767          3,878,556                   of the parent       Non-controlling             284,537            286,175               interests            Total                4,100,304          4,164,731                   equity            Total              ¥               ¥                                                      11,491,319           11,582,231  (2) Condensed Consolidated Statements of Income and                                            Comprehensive Income                               Condensed Consolidated   Statements of Income                                             (Millions of                                                               Yen)                                      Three-month period   Three-month period                                      ended                ended                                       June 30,             June 30,                                       2013                 2014                                                                                                                                                  Revenue:                Sale of                   ¥                    ¥                products                  1,285,483            1,237,992                Rendering of              100,668              100,715                services                Other revenue             21,142               31,819                Total revenue             1,407,293            1,370,526   Cost:                Cost of                   -1,142,202           -1,100,672                products sold                Cost of                services                  -38,538              -44,531                rendered                Cost of other             -15,224              -14,934                revenue                Total cost                -1,195,964           -1,160,137   Gross Profit                           211,329              210,389   Other Income (Expenses):                Selling,                general and               -140,781             -139,248                administrative                expenses                Gain (loss) on                securities and            11,407               1,157                other                investments—net                Impairment loss           -78                  -11                of fixed assets                Gain (loss) on                disposal or sales         54                   475                of fixed assets—net                Other income              -291                 -1,588                (expense)—net                Total other                income                    -129,689             -139,215                (expenses)   Finance      Loss on   Income       write-down of   (Costs):     securities                Interest income           5,380                8,357                Dividend income           49,774               40,989                Interest                  -12,191              -11,706                expense                Total finance             42,963               37,640                income (costs)   Share of Profit of Investments   Accounted for Using the Equity         67,109               64,320   Method   Profit before Income Taxes             191,712              173,134   Income Taxes                           -52,448              -39,604   Profit for the Period                  ¥ 139,264            ¥ 133,530                                                                                 Profit for the Period   Attributable to:                Owners of the             ¥ 132,968            ¥ 127,806                parent                Non-controlling           6,296                5,724                interests                                                                                                                                                  Condensed Consolidated   Statements of Comprehensive   Income                                             (Millions of                                                               Yen)                                      Three-month period   Three-month period                                      ended                ended                                       June 30,             June 30,                                       2013                 2014                                                                                                                                                  Profit for the Period                  ¥ 139,264            ¥ 133,530   Other Comprehensive Income:         Items that will not be         reclassified to profit         or loss:                Financial                assets measured           -371                 23,564                at FVTOCI                Remeasurements of                defined benefit           631                  -1,561                pension plans                Share of other                comprehensive income of                investments accounted     -464                 2,008                for using the equity                method                Income tax                relating to               3,887                -6,003                items not                reclassified         Items that may be         reclassified subsequently         to profit or loss:                Foreign                currency                  -28,684              -2,846                translation                adjustments                Cash flow                 -2,554               -2,684                hedges                Share of other                comprehensive income of                investments accounted     10,944               -18,754                for using the equity                method                Income tax relating                to items that may         9,032                2,000                be reclassified                Total other                comprehensive             -7,579               -4,276                income   Comprehensive Income for the           ¥ 131,685            ¥ 129,254   Period                                                                                 Comprehensive Income for the   Period Attributable to:                Owners of the             ¥ 126,407            ¥ 125,804                parent                Non-controlling           5,278                3,450                interests  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) Condensed Consolidated Statements of Changes                                                       in Equity                                                                           (Millions of Yen)                     Attributable to owners of the                                         Non-controlling   Total                   parent                                                             Interests                                                                                                             Equity                     Common    Capital   Retained     Other        Treasury                  Stock    Surplus  Earnings     Components   Stock      Total                                                                               of Equity Balance as at       ¥         ¥         ¥2,060,298   ¥ 614,783    ¥          ¥3,439,141   ¥ 245,848         ¥ April 1, 2013       341,482   428,552                             (5,974)                                   3,684,989   Profit for                            132,968                              132,968      6,296             139,264   the period   Other   comprehensive                                      (6,561)                 (6,561)      (1,018)           (7,579)   income for the   period Comprehensive income for the                                                               126,407      5,278             131,685 period Transaction with owners:   Dividends paid   to the owners   of the parent                         (38,327)                             (38,327)                       (38,327)    (per share:   ¥21)   Dividends paid   to   non-controlling                                                                         (7,302)           (7,302)   interest   shareholders   Acquisition   of treasury                                                     (4)        (4)                            (4)   stock   Sales of   treasury                              (0)                       0          0                              0   stock   Equity   transactions   with                        (475)                  3                       (472)        6,189             5,717   non-controlling   interest   shareholders Transfer to retained                                6,367        (6,367)                 -                             - earnings Balance as at      ¥         ¥         ¥2,161,306   ¥ 601,858    ¥          ¥3,526,745   ¥ 250,013         ¥ June 30, 2013       341,482   428,077                             (5,978)                                   3,776,758                                                                                                                                                                                                  (Millions of Yen)                     Attributable to owners of the                                         Non-controlling   Total                     parent                                                             Interests                                                                                                             Equity                     Common    Capital   Retained     Other        Treasury                  Stock     Surplus   Earnings     Components   Stock      Total                                                                               of Equity Balance as at       ¥         ¥         ¥2,345,790   ¥ 766,631    ¥          ¥3,815,767   ¥ 284,537         ¥ April 1, 2014       341,482   418,004                             (56,140)                                  4,100,304   Profit for                            127,806                              127,806      5,724             133,530   the period   Other   comprehensive                                      (2,002)                 (2,002)      (2,274)           (4,276)   income for the   period Comprehensive income for the                                                               125,804      3,450             129,254 period Transaction with owners:   Dividends paid   to the owners   of the parent                         (60,946)                             (60,946)                       (60,946)    (per share:   ¥34)   Dividends paid   to   non-controlling                                                                         (4,437)           (4,437)   interest   shareholders   Acquisition   of treasury                                                     (3)        (3)                            (3)   stock   Sales of   treasury                              0                         0          0                              0   stock   Cancellation   of treasury                           (50,191)                  50,191     -                             -   stock   Equity   transactions   with                        (2,981)                915                     (2,066)      2,625             559   non-controlling   interest   shareholders Transfer to retained                                1,607        (1,607)                 -                             - earnings Balance as at     ¥        ¥        ¥2,364,066  ¥ 763,937   ¥         ¥3,878,556  ¥ 286,175        ¥ June 30, 2014       341,482   415,023                             (5,952)                                   4,164,731  (4) Condensed Consolidated Statements of                      Cash Flows                                                                                                                                                                (Millions                                                                   of Yen)                                                                   Three-month                                                   Three-month     period                                              period ended    ended                                                    June 30, 2013   June 30,                                                                   2014 Operating Activities:     Profit for the Period                         ¥ 139,264       ¥ 133,530     Adjustments to reconcile profit for the     period to cash flows from operating     activities:                   Depreciation and                52,716          67,717                   amortization                   Change in retirement            1,144           -2,082                   benefit liabilities                   Provision for doubtful          2,795           2,957                   receivables                   (Gain)/loss on securities       -11,407         -1,157                   and other investments—net                   Impairment loss of fixed        78              11                   assets                   (Gain)/loss on disposal                   or sales of fixed               -54             -475                   assets—net                   Finance (income)/costs –        -41,123         -35,846                   net                   Income taxes                    52,448          39,604                   Share of profit of                   investments accounted for       -67,109         -64,320                   using equity method                   Changes in operating                   assets and liabilities:                       Change in trade and       203             2,434                   other receivables                      Change in                  -48,697         -58,757                   inventories                       Change in trade and       -58,254         -4,272                   other payables                      Other—net                  2,958           -10,457                   Interest received               7,172           9,337                   Interest paid                   -15,202         -11,993                   Dividends received              100,402         98,157                 Income taxes paid              -34,584        -34,266                                     Cash                              flows from       82,750         130,122                                 operating                                 activities Investing Activities:     Net change    (Increase)    Decrease     in time       (increase)    (increase)        794             -14,979     deposits      in trade      in trade                   receivables   receivables     Net change     in     investments   (Increase)    (Increase)     in and        (increase)    in trade          -7,092          -64,323     advances to   in trade      receivables     equity        receivables     accounted     investees     Net change    (Increase)    (Increase)     in other      (increase)    in trade          -84,191         -5,380     investments   in trade      receivables                   receivables     Net change    (Increase)     in            (increase)    Decrease in     long-term     in trade      trade             4,261           12,682     loan          receivables   receivables     receivables     Net change     in     property,     (Increase)    (Increase)    plant,        (increase)    in trade         -86,316        -79,376     equipment     in trade      receivables     and           receivables     investment     property                                     Cash                              flows from       -172,544       -151,376                                 investing                                 activities Financing Activities:     Net change    (Increase)    Decrease in     in            (increase)    trade             109,731         36,202     short-term    in trade      receivables     debt          receivables     Net change    (Increase)    (Increase)     in            (increase)    decrease in       -55,073         51,668     long-term     in trade      trade     debt          receivables   receivables     Purchases and sales of treasury stock         -4              -3                   (Increase)    (Increase)     Dividends     (increase)    in trade          -38,334         -60,955     paid          in trade      receivables                   receivables    Transactions with non-controlling            -1,991         -6,082     interest shareholders                                     Cash                              flows from       14,329         20,830                                 financing                                 activities Effect of Exchange Rate Changes on Cash and       -739            -4,210 Cash Equivalents Cash and Cash Equivalents Included in            -              -426 Assets Held for Sale Change in Cash and Cash Equivalents               -76,204         -5,060 Cash and Cash Equivalents at Beginning of        1,432,534      1,226,317 Year Cash and Cash Equivalents at End of Period     ¥            ¥ 1,221,257                                                   1,356,330                                                                                                                                                                   (5) Assumption for Going Concern: None  (6) Segment                                                                             Information        Three-month period ended June 30, 2013 (from April 1, 2013 to June 30, 2013)                                                                             (Millions of                                                                                                Yen)                Iron &     Mineral &   Machinery &                                              Innovation &            Steel      Metal       Infrastructure   Chemicals    Energy      Lifestyle      Corporate                Products   Resources                                                            Development                                                                                                              Revenue        58,311     185,072     93,726           222,786      381,343     220,223        14,476 Gross Profit   14,429     49,751      27,702           20,310       50,165      27,899         -2,467 (Loss) Share of Profit of Investments Accounted      1,434      26,598      11,906           1,516        16,560      1,777          4,244 for Using the Equity Method Profit (Loss) for the Period     3,025      39,609      9,799            3,903        64,655      -1,097         -1,727 Attributable to Owners of the parent EBITDA        7,265      76,129      13,976           7,918        121,109     3,385          -11,908 Total Assets at March 31,   567,741    1,970,858   1,872,585        765,751      2,478,158   1,495,387      496,533 2014                                                                                                                 Europe,                                                                                 Adjustments            Americas   the         Asia Pacific     Total        All Other                  Consolidated                           Middle                                                and            Total                           East and                                              Eliminations                           Africa                                                                                                              Revenue        176,361    28,057      26,462           1,406,817    480         -4             1,407,293 Gross Profit   19,435     4,324       3,464            215,012      254         -3,937         211,329 (Loss) Share of Profit of Investments Accounted      1,720      85          1,025            66,865       267         -23            67,109 for Using the Equity Method Profit (Loss) for the Period     4,970      417         10,700           134,254      3,141       -4,427         132,968 Attributable to Owners of the parent EBITDA        7,801      -320        738              226,093      1,012       13,042         240,147 Total Assets at March 31,   568,772    105,907     345,074          10,666,766   5,037,172   -4,212,619     11,491,319 2014                                                                                                                                                                                                                           Three-month period ended June 30, 2014 (from April 1, 2014 to June 30, 2014)                                                                             (Millions of                                                                                                Yen)                Iron &     Mineral &   Machinery &                                              Innovation &            Steel      Metal       Infrastructure   Chemicals    Energy      Lifestyle      Corporate                Products   Resources                                                            Development                                                                                                              Revenue        44,360     191,839     100,679          218,761      279,242     221,014        27,375 Gross          10,125     45,046      27,413           18,495       52,927      26,271         9,485 Profit Share of Profit of Investments Accounted      526        21,919      14,993           1,536        13,730      6,247          1,178 for Using the Equity Method Profit (Loss) for the Period     1,038      38,655      11,573           2,558        56,672      169            -860 Attributable to Owners of the parent EBITDA        2,107      71,279      16,515           6,134        119,500     2,799          872 Total Assets at June 30,    555,246    1,938,510   1,910,185        758,725      2,397,388   1,547,231      485,398 2014                                                                                                                 Europe,                                                                                 Adjustments            Americas   the         Asia Pacific     Total        All Other                  Consolidated                           Middle                                                and            Total                           East and                                              Eliminations                           Africa                                                                                                              Revenue        232,852    27,449      26,479           1,370,050    476         -              1,370,526 Gross Profit   18,357     4,343       2,875            215,337      224         -5,172         210,389 Share of Profit of Investments Accounted      2,269      436         1,684            64,518       -           -198           64,320 for Using the Equity Method Profit (Loss) for the Period     5,757      1,084       10,346           126,992      1,853       -1,039         127,806 Attributable to Owners of the parent EBITDA        7,525      -158        493              227,066      -302        17,403         244,167 Total Assets at June 30,   601,357   99,753     350,980         10,644,773  4,956,954  -4,019,496    11,582,231 2014           1. “All Other” principally consisted of the Corporate Staff Unit Notes:  which provides financing services and operations services to          external          customers and/or to the companies and affiliated companies. Total          assets of “All Other” at March 31, 2014 and June 30, 2014 consisted          primarily of cash and cash equivalents and time deposits related to          financing activities, and assets of the Corporate Staff Unit and          certain subsidiaries related to the above services.          2. Transfers between repotable segments are made at cost plus a          markup.          3. Profit (Loss) for the Period Attributable to Owners of the parent          of “Adjustments and Eliminations” includes income and expense items          that are          not allocated to specific reportable segments, and eliminations of          intersegment transactions.          4. During the three-month period ended June 30, 2014, EBITDA is          disclosed by reportable segments as the information of the operating          segments          periodically reviewed by the management. EBITDA is comprised of the          companies' (a) gross profit, (b) selling, general and administrative          expenses,          (c) dividend income and (d) share of profit of investments accounted          for using the equity method as presented in the Condensed          Consolidated Statements          of Income and (e) depreciation and amortization as presented in the          Condensed Consolidated Statements of Cash Flows.  For diagrams omitted, please see our home page. (https://www.mitsui.com/jp/en/ir/meeting/account/__icsFiles/afieldfile/2014/08/06/en_153_1q_ta_1.pdf)  Contact:  Mitsui & Co Ltd  The story has been truncated, [TRUNCATED]  
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