ITOCHU (8001) investor relations material

North American business overview

• U.S. portfolio spans 40 major companies and 20,000 employees across seven divisions.

• Value creation is rooted in local market intelligence and hands-on collaboration between local management and personnel.

• Growth platforms connect power and construction machinery to AI infrastructure demand, and construction materials to real estate development.

North American power business

• Integrated operations cover power generation and development, investment, asset and energy management, O&M, and electrical and mechanical services.

• Power business profit was ¥26.5bn in FY2025, with a FY2026 forecast of ¥27.8bn and a future target of ¥50bn; the target was raised in September 2026.

• Tyr Energy has invested in 38 assets totaling 13.6 GW, developed three properties, and currently owns 20 power plants totaling 6.1 GW.

• NAES provides O&M at approximately 260 sites representing about 60 GW and is the No. 1 independent player by U.S. market share.

• Prairie Switch is a 163 MW wind farm operating since March 2024, with a 15-year power purchase agreement with Meta.

Construction materials and real estate

• North American construction materials recorded FY2025 profit of ¥14.8bn; future profit targets are over ¥50bn for construction materials and ¥10bn for real estate.

• Master Halco operates 72 branches across the U.S. and Canada, five manufacturing facilities, and serves 16,000+ active customers.

• The platform spans materials manufacturing and distribution through real estate construction and development, with local expertise supporting value-chain expansion.

• A 19.5% stake in Wood Partners was acquired in November 2025; the U.S. multifamily developer ranked No. 3 in 2024 construction starts, with a $1.0bn cumulative investment target alongside Japanese investor partners.