OREANDA-NEWS. ITOCHU Announces Financial Results for 9M of FY 2012.

Revenue for the nine-month period ended December 31, 2012, increased by 11.1%, or 324.8 billion yen, compared with the same period of the previous fiscal year, to 3,247.3 billion yen.

Gross trailing profit decreased by 4.4%, or 31.1 billion yen, compared with the same period of the previous fiscal year, to 667.7 billion yen.

Selling, general and administrative expenses rose by 3.6%, or 17.5 billion yen, compared with the same period of the previous fiscal year, to 503.8 billion yen. Provision for doubtful receivables improved by 4.0 billion yen, compared with the same period of the previous fiscal year, to a gain of 0.2 billion yen, mainly due to a decrease in allowance for doubtful receivables and collections.

Net interest expenses deteriorated by 15.5%, or 1.4 billion yen, compared with the same period of the previous fiscal year, to expense of 10.7 billion yen, due to an increase in interest-bearing debt, despite lower debt cost.

Dividends received decreased by 31.6%, or 5.3 billion yen, compared with the same period of the previous fiscal year, to 11.5 billion yen. Consequently, Net financial income, which is the total of Net interest expenses and Dividends received, decreased by 6.8 billion yen compared with the same period of the previous fiscal year, to a gain of 0.8 billion yen.

Gain on investments-net increased by 11.7 billion yen, compared with the same period of the previous fiscal year, to a gain of 20.3 billion yen.