In December 2018, Mitsui declared its support for the Task Force on Climate-related Financial Disclosures (TCFD). In accordance with the TCFD recommendations and as a responsible company operating globally, we actively promote information disclosure with an awareness of stakeholder demands.

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Disclosure Based on TCFD Recommendations (December 2025) (PDF 1.47MB)

Climate Change-related Discussions

There were 22 major climate change-related discussions by the Sustainability Committee over the past three years.

Sustainability Advisory Board (SAB)/Collaboration with External Experts

We have established SAB, a group comprising external experts on societal and environmental topics such as climate change. The Sustainability Committee uses information and advice from SAB members in their deliberations. In addition to Sustainability Advisory Board members, we also communicate with external experts to help ensure that we address climate change appropriately.

Please refer to the links below for more information on Mitsui's Sustainability Management Framework and the activities of the Sustainability Committee.

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• Our Approach to Sustainability and Management Framework: Sustainability Governance and Oversight
• Our Approach to Sustainability and Management Framework: Sustainability Committee Details
• Our Approach to Sustainability and Management Framework: Sustainability Advisory Board (SAB)

Since endorsing the TCFD recommendations in December 2018, the Company has conducted scenario analysis to respond flexibly to changes in the global business environment and enhance the resilience of its strategy. While the relevant business units have traditionally analysed risks, countermeasures and quantitative impacts for the businesses subject to scenario analysis and discussed the results at the Sustainability Committee, the Company has considered the climate-related risks and opportunities identified through scenario analysis in the formulation of its business plans since the fiscal year ended March 2023, in light of the growing importance of this analysis. By incorporating scenario analysis into the business planning process, which is reported to and discussed by the Corporate Management Committee and approved by the Board of Directors, the results of scenario analysis are reviewed and discussed at the management level and reflected in the Company's business portfolio strategy.

The Company conducts scenario analysis on a regular basis to analyse significant risks and opportunities for the Company and its value chain. Businesses subject to scenario analysis are selected based on business scale and the impact of climate change, and the results of scenario analysis are presented in the following sections. This analysis is not intended to forecast the future, but rather to estimate business impacts under certain conditions, and differs from the worldview assumed as the basis for the Company's business strategy.

Each scenario used in the scenario analysis assumes possible future changes in the business environment, and the Company does not formulate its business plans on the premise that such scenarios will materialize.

The Company conducted scenario analysis for the period up to 2050, using short-term, medium-term and long-term time horizons, defined respectively as up to the next fiscal year, up to 2030 and up to 2050. These time horizons are aligned with the Company's business plans, GHG emission reduction target periods and the long-term recovery periods of its assets.

For transition risks and opportunities^*1, the Company conducted analysis using a current scenario, a 2°C scenario and a 1.5°C scenario aligned with the Paris Agreement, by referring to scenarios including those described in the World Energy Outlook (WEO) published by the International Energy Agency (IEA). For physical risks^*2, the Company engaged an external advisor to analyse each risk item in the future, as of 2030 and 2050, for invested projects with high exposure to physical risks under a 4°C scenario.

*1 Risks and opportunities arising from changes in policies and regulations, technological development, market trends, market reputation and other factors.
*2 Risks of physical damage and other impacts arising from the increase in natural disasters and extreme weather events associated with climate change.

• Current scenario: A scenario based on the Company's long-term outlook, taking into account current policies and technology adoption, with reference to the IEA Stated Policies Scenario (STEPS), Current Policies Scenario (CPS) and other scenarios.
• 2°C scenario: A scenario assuming the implementation of announced government pledges, with reference to the IEA Announced Pledges Scenario (APS) and other scenarios.
• 1.5°C scenario: A scenario achieving the goal of limiting global warming to below 1.5°C above pre-industrial levels, with reference to the IEA Net Zero Emissions by 2050 Scenario (NZE) and other scenarios.
• 4°C scenario: A scenario in which the global average temperature rises by approximately 4°C by 2100, with reference to IPCC RCP 8.5 and other scenarios.

The key assumptions commonly used across all businesses in the Company's scenario analysis are as follows. Other key assumptions used for individual businesses are described in the scenario analysis results for each business under "Outlook of business environment." This scenario analysis is conducted primarily based on assumptions relating to climate-related transition and physical factors, and does not incorporate other factors (e.g. such as sudden changes in international affairs or geopolitical events), as analytical assumptions due to their high uncertainty.

• The global population is expected to increase gradually to more than 8.5 billion in 2030 and more than 9.6 billion in 2050, driven by demographic changes mainly in Sub-Saharan Africa and Asia.^*
• The global economic growth rate is expected to remain at approximately 3% until 2030 and around 2.5% thereafter, with growth of 1-2% in OECD countries and relatively higher growth in non-OECD countries, particularly in Asia and Sub-Saharan Africa.^*
• Carbon prices are set by reference to definitions and prices published by external organizations such as the IEA, taking into account the country or region of the relevant asset, the applicable time horizon and other factors.

* Based on the assumptions in the WEO published by the IEA.

For selected businesses, the Company uses multiple climate change scenarios to assess the impacts of transition risks on its business strategy and financial planning, and to consider necessary responses.

Selection of Businesses Subject to Scenario Analysis

The Company operates a diverse range of businesses around the world and is involved in a wide variety of industries and value chains.

To identify risks and opportunities that could reasonably be expected to affect the Company's outlook and its impacts through scenario analysis, the Company identified the businesses subject to analysis based on business scale (profit and invested capital), and the existence and magnitude of business impacts from climate change, as described below.

(1) Screening of businesses for consideration

The Company classified its businesses into 16 VCs and further organized them into 51 businesses as subcategories. The Company then identified whether climate-related risks and opportunities existed for each business, with reference to SASB^* industries and other sources.
Based on those results and the business scale of each VC(three-year average of Profit after Tax (PAT) and Invested Capital (IC)), the Company selected the businesses subject to scenario analysis. Businesses with small business scale and climate-related risks and opportunities considered to have only a limited impact on the Company as a whole were excluded from the scope of analysis. As a result, 29 businesses were identified as businesses for consideration.

* Sustainability Accounting Standards Board.

(2) Assessment of risks and opportunities and estimation of financial effects

For the 29 businesses selected in step 1, the Company identified climate-related risks and opportunities, taking into account impacts from upstream and downstream VCs, and scored the scale and likelihood of financial effects by scenario. Based on the scoring, the Company comprehensively considered business characteristics, its investment strategy, expected future business opportunities and secondary risks, and selected the businesses for which the results of transition scenario analysis are disclosed, which are shown below. For risks and opportunities whose financial effects can be reasonably estimated, the Company also discloses quantitative estimates.

Results of Transition Scenario Analysis: Key Risks and Opportunities

The risks and opportunities in each business segment are as follows.

Segment	Risk (Bold: financial effects estimated)	Opportunity
Mineral & Metal Resources Steel VC: Metallurgical coal business, iron ore business and steelmaking materials business Non-ferrous metals VC: Copper business	Increase in costs due to stricter regulations on GHG emissions and other factors (Steelmaking VC) Decrease in demand associated with the transition to low-carbon technologies (Steelmaking VC)	Revenue expansion related to low-carbon steelmaking (Steelmaking VC) Increase in demand for high-grade materials for decarbonization (Steelmaking VC) Increase in demand associated with the energy transition (Non-ferrous metals VC)
Energy Energy supply VC: Oil and gas development and LNG business, next-generation fuel business	Increase in costs due to stricter policies and environmental regulations Decrease in revenue through declining demand and falling prices Decline in competitiveness of existing facilities for next-generation fuels due to technological innovation and policy changes	Expansion of revenue opportunities in CCS/CCUS* Increase in demand for next-generation fuels as decarbonization progresses
Mobility, Digital & Infrastructure Power VC: Thermal power generation business and renewable energy business Mobility and transport VC: Land mobility business	Increase in costs due to taxation and regulation of GHG emissions from operations (thermal power generation) Decline in revenue related to internal combustion engines due to changes in industrial structure (mobility)	Increase in revenue through a reduction in curtailment (renewable energy) Improvement in business efficiency through higher efficiency and the introduction of digital technologies (renewable energy) Revenue expansion through capturing demand related to electric vehicles (mobility)
Chemicals Chemicals VC: Mobility materials business Forest resources VC: Forest resources business	Changes in demand for fossil fuel-derived chemicals Increase in forest management and production costs	Expansion of demand for low-carbon and circular products Acceleration of responses to automotive-related regulations and supply chain changes Revenue expansion through increased environmental value of forest resources

*CCS (Carbon Capture and Storage)
 CCUS (Carbon Capture, Utilisation and Storage

Financial Impact on Businesses^*

Large: 45 billion JPY ~ 75 billion JPY
Medium: 15 billion JPY ~ 45 billion JPY
Small: ~15 billion JPY

*Impact on profit after tax (PAT).

Iron & Steel VC: Metallurgical coal business, Iron ore business and Ferrous raw materials business

Our business

Metallurgical Coal Business: Development, processing and marketing of metallurgical coal
Iron Ore Business: Development, processing and marketing of iron ore
Ferrous Raw Materials Business: Manufacturing of ferrous raw materials, including ferrosilicon

Within the iron & steel VC, GHG emissions are particularly concentrated in "steelmaking".
As the Group's Metallurgical Coal, Iron Ore and Ferrous Raw Materials businesses are positioned in the "Raw material extraction and procurement" stage of the VC, the Group's exposure to climate-related transition risks is considered relatively lower than that of the iron & steel VC as a whole. Conversely, climate-related opportunities for the Group are primarily concentrated in the "Raw material extraction and procurement" stage of the VC. Please refer to the following for further details.

Iron & Steel VC
Outlook of business environment	Current scenario Underpinned by economic growth in India, Southeast Asia and other regions, demand for steel used in buildings, automobiles and other applications remains robust. Driven by population growth and the continued expansion of emerging economies, steel demand is expected to increase toward 2030 and 2050. Although growth in iron ore demand is expected to be more moderate than that in steel demand due to the increased use of scrap and other factors, iron ore demand is nevertheless expected to remain on a growth trajectory. While the share of blast furnace steelmaking, currently the predominant production method, is expected to decline as regulations to reduce GHG emissions are strengthened and technological innovation progresses, the share of electric furnace steelmaking is expected to increase toward 2030, alongside the adoption of technologies such as carbon capture, utilization and storage (CCUS). By 2050, the share of electric furnace steelmaking is expected to remain broadly unchanged due to constraints on raw materials supply. Although the share of blast furnace steelmaking is expected to decline, it is expected to retain a certain share through the adoption of new technologies, including hydrogen-based reduction. Demand for stainless steel and certain ferroalloys is projected to grow faster than demand for crude steel, and demand for ferrous raw materials such as nickel is also expected to increase. 2°C Scenario Against the backdrop of tighter industry regulations on GHG emissions and growing market expectations, no significant change in overall steel demand is anticipated. However, by 2030, the decline in the share of blast furnace steelmaking and the expansion of electric furnace steelmaking are expected to occur more rapidly than under the Current Policies Scenario. The adoption of new technologies is also expected to be brought forward and to expand further toward 2050. 1.5°C Scenario Requirements to reduce GHG emissions are expected to become even more stringent, resulting in a further decline in the share of blast furnace steelmaking. As the expansion of electric furnace steelmaking will be constrained by scrap availability, its share is expected to remain at a level similar to that under the 2°C Scenario. Consequently, the adoption of new technologies is expected to accelerate from 2030 and advance substantially toward 2050.
Impacts on the Business and Response	Risks and opportunities	(Risks) Metallurgical Coal Risk of Increased Costs Due to Tightening Policies and Regulations and Reduced Demand from Decarbonization There is a risk that tighter emissions regulations will lower emissions baselines, resulting in increased costs associated with enhanced methane capture and the procurement of emissions credits. There is also a risk that demand for metallurgical coal will decline as the transition from blast furnace steelmaking to electric furnace steelmaking and new technologies, including gas- and hydrogen-based reduction, progresses. (Short/medium/long term) Iron Ore Risk of Increased Costs Due to Tightening Policies and Regulations and Reduced Demand from Decarbonization There is a risk of increased costs due to tighter emissions regulations, including carbon taxes, fuel switching and equipment upgrades in mining, crushing and beneficiation processes, as well as the transition to alternative marine fuels during transportation. There is also a risk that demand for medium-grade iron ore will decline if low-carbon steelmaking technologies utilizing such ore do not become widely adopted. (Medium/long term) Ferrous Raw Materials Risk of Increased Costs Due to Tightening Policies and Regulations There is a risk of increased process-related costs due to tighter emissions regulations, similar to those faced in the iron ore business. (Medium/long term) (Opportunity) Revenue Opportunities Related to Low-Carbon Steelmaking Across the Iron & Steel VC, opportunities are expected to arise from increased demand for high-grade raw materials and scrap, the development of businesses supporting low-carbon steelmaking processes, growing demand for green steel, and the utilization of emissions credits. (Medium/long term) Increased Demand for High-Grade Materials for Decarbonization Increased demand for high-grade materials that contribute to low-carbon steelmaking presents an opportunity to directly enhance the Company's competitiveness. (Medium/long term)
	Anticipated financial impact and response	Metallurgical Coal The metallurgical coal operations in which the Company has interests are subject to GHG reporting requirements under the Australian Government's Safeguard Mechanism, and the operators are implementing GHG reduction initiatives, including methane capture and reuse as energy. In addition, initiatives such as fuel switching for transport vessels have begun across the industry. Even if costs increase as a result of these initiatives or carbon tax payments, such costs are expected to be passed on to commodity prices over the medium to long term. In addition, given the estimated reserves and production period of the metallurgical coal assets in which the Company has interests, demand is expected to be maintained at a certain level even under the 1.5°C Scenario (where the shift to electric arc furnaces and new technologies progresses rapidly), and therefore the financial impacts related to the risks of increased costs and reduced demand for metallurgical coal are limited and assessed as "small". Iron Ore At the iron ore assets in which the Company has interests, the operators are taking the lead in initiatives such as energy transition for equipment and lower-emission transportation under the supervision of the Australian and Brazilian governments. Even if costs increase as a result of these initiatives or carbon tax payments, such costs are expected to be passed on to commodity prices over the medium to long term. In addition, no significant changes in demand are assumed under any of the scenarios, and the associated financial impacts are limited and assessed as "small". Ferrous Raw Materials For the ferrous raw materials manufacturing businesses in which the Company has interests, because there is significant uncertainty regarding future trends in GHG emissions regulations and changes in the market environment in China, it is difficult at present to reasonably estimate the financial impacts related to these risks, and no disclosure is provided. If the risks described above materialize in the future and financial impacts are expected, the Company will work with the operators to promote initiatives toward lower emissions and examine related expenses and costs such as carbon tax payments. In addition, across the Iron & Steel VC as a whole, strengthening the handling of high-grade materials that contribute to low-carbon steelmaking directly leads to an improvement in the Company's competitiveness, and the Company will therefore promote initiatives toward realizing this opportunity.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

Please scroll horizontally to look at table below.

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Financial Results for the Year Ended March 31, 2026 Presentation Material(PDF 8.7MB) P.37 Mineral & Metal Resources: Main Businesses

Non-ferrous materials VC: Copper business

Our business

Copper Business: Development, processing and marketing of copper resources

As the Group's business (Copper Business) is positioned in the "Raw material extraction and procurement" stage, the Groups climate-related opportunities identified through scenario analysis are primarily concentrated in the "Raw material extraction and procurement" stage of the VC. Please refer to the following for further details.

Copper Business
Outlook of business environment	Current scenario Copper demand is expected to increase in line with supply, driven by the expansion of power grids associated with the energy transition, growth in EV production, the expansion of renewable energy generation, and increasing power demand from generative AI and other factors. Demand is expected to increase by approximately 20% from the current level by 2030 and by nearly 40% by 2050. Meanwhile, investment to improve energy efficiency in mining, smelting, transportation and other processes that contribute to GHG reduction is also expected to increase. In addition, scrap recycling is also expected to progress. 2°C Scenario The increase in copper demand related to clean energy is expected to accelerate from the end of the 2020s compared with the current scenario and reach approximately 50% above the current level by 2050. Investment in GHG reduction is also expected to accelerate further. 1.5°C Scenario As electrification in transportation, buildings and other sectors accelerates due to the energy transition and growth in copper demand also accelerates, demand is expected to grow by more than 20% from the current level by 2030 and by more than 50% by 2050. Meanwhile, concerns over supply shortages and deterioration in the quality of copper ore are expected to increase.
Impacts on the Business and Response	Risks and opportunities	(Opportunity) Increase in Demand Associated with the Energy Transition Although costs may arise in the resource development business for switching to low-emission powered heavy equipment and responding to increases in energy costs, the increase in demand for copper and revenue opportunities associated with growing demand for low-GHG-emission vehicles such as EVs and renewable energy-related products, as well as the increased supply of low-carbon copper with a premium added to meet customers' needs for low-carbon products, represent opportunities for the copper business. (Medium/long term)
	Anticipated financial impact and response	The expansion of the markets for EVs and renewable energy-related products will lead to increased revenue in the Company's copper business. By securing production volumes, maintaining quality, and reducing energy inputs in mining and smelting, revenue expansion will become more certain, while the required investment for these initiatives is limited compared with the increase in revenue from demand growth. The financial impacts related to the copper business are not disclosed because there is a high degree of uncertainty regarding the extent of demand growth.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

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Financial Results for the Year Ended March 31, 2026 Presentation Material(PDF 5.5MB) P.21 Mineral & Metal Resources: Main Businesses

Energy Supply VC: Upstream Oil and Gas and LNG Business, Next-generation Fuel Business

Our business

Upstream Oil and Gas and LNG Business: Exploration, development and production of oil and natural gas, LNG production and transportation to marketing and trading
Next-generation Fuel Business: Development and commercialization of clean hydrogen and ammonia, SAF (Sustainable Aviation Fuel) and other fuels
Offshore Oil and Gas Production Facilities Business: Construction, ownership and long-term chartering of floating offshore oil and gas production, storage and offloading facilities, and provision of O&M services
Gas Distribution: City gas distribution business under concession agreements

In the energy supply VC, GHG emissions are particularly concentrated in "Raw material extraction and procurement" and "Sales, use and collection".
The Group's businesses (Upstream Oil and Gas and LNG Business, Next-generation Fuel Business, Offshore Oil and Gas Production Facilities Business and Gas Distribution Business) are mainly in "Raw material extraction and procurement" and "Transportation and storage".
The Group's climate-related transition risks identified through scenario analysis are primarily concentrated in "Raw material extraction and procurement" in the VC. Please refer to the following for further details.

Upstream Oil and Gas and LNG Business
Outlook of business environment	Current scenario Oil demand is expected to continue on an increasing trend toward 2050, although growth is expected to slow due to the spread of EVs and progress in energy efficiency. Natural gas demand is expected to expand steadily toward 2050, driven by electricity and industrial applications in emerging Asian countries such as China and India, as well as increasing global electricity demand associated with data center demand from the spread of AI and the progress of electrification. 2°C Scenario Oil demand is expected to peak around 2030 due to electrification in the transport sector and progress in energy conservation, and then gradually decline toward 2050. Natural gas demand is expected to increase until around the mid-2030s and then remain broadly flat or turn to a gradual decline. Electricity demand is expected to continue increasing due to the progress of electrification and data center demand, while the introduction of renewable energy will expand. Natural gas is expected to maintain its importance as a flexible power source complementing renewable energy, and its use in combination with CCUS and low-carbon hydrogen production is also expected to expand. 1.5°C Scenario Oil demand is expected to decline rapidly after 2030 and decrease significantly toward 2050. Natural gas demand is also expected to decrease significantly toward 2050. However, natural gas is expected to maintain a certain role in applications such as the provision of flexibility to complement the large-scale introduction of renewable energy and hydrogen production. GHG emissions regulations and methane emissions regulations are expected to become even more stringent, and the introduction of electrification, renewable energy, CCS/CCUS, clean hydrogen and ammonia, and other technologies is expected to accelerate. Electricity demand is expected to continue increasing due to electrification and the expansion of data center demand, but much of this demand is expected to be met by low-carbon power sources such as renewable energy.
Impacts on the Business and Response	Risks and opportunities	The Company operates upstream oil and gas and LNG businesses in many regions, including the Middle East, Southeast Asia, North America and Oceania. As the energy transition progresses, the following risks and opportunities may materialize. (Risk) Risk of Increased Costs Due to Tightening Policies and Regulations Stronger carbon pricing systems and emissions regulations may make GHG emissions from operations subject to taxation and regulation, resulting in additional costs, including capital expenditures for monitoring and reduction measures. (Medium/long term) Risk of Decreased Revenue Through Declining Demand and Falling Prices Technological innovation and the spread of next-generation energy sources such as clean hydrogen and ammonia, renewable energy and nuclear power, as well as stricter regulations, may result in a relative decline in the competitiveness of the upstream oil and gas and LNG business and affect revenue through price declines associated with declining demand. (Medium/long term) (Opportunity) Expansion of Revenue Opportunities Centered on CCS/CCUS By leveraging subsurface evaluation and storage technologies and project management capabilities cultivated through the upstream oil and gas and LNG businesses and promoting the commercialization of CCS/CCUS, the establishment of new revenue sources and revenue expansion are expected through CO2 capture and storage, the production and sale of clean hydrogen and ammonia, and the generation and sale of emissions credits, among other activities. (Medium/long term)
	Anticipated financial impact and response	The Company's existing businesses are expected to have financial impacts assessed as "medium" in 2030 and 2050, respectively, due to increased costs associated with stricter regulations and revenue impacts associated with declining demand and falling prices under the 1.5°C Scenario. For the Company's businesses, the Company will carefully examine the costs of responding to emissions regulations, including carbon taxes, and investment costs associated with the introduction of new technologies, and will take appropriate measures while balancing the maintenance and improvement of profitability with emissions reductions. In addition, toward enhancing the quality of its portfolio, the Company will also consider replacing assets with lower-emission and higher-profitable upstream oil and gas and LNG businesses.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

Please scroll horizontally to look at table below.

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Financial Results for the Year Ended March 31, 2026 Presentation Material(PDF 5.5MB) P.23 Energy: Main Businesses

Next-generation Fuel Business
Outlook of business environment	Current scenario Demand for next-generation fuels, including biofuels, is expected to expand over the medium to long term, mainly as a complement to fossil fuels. Hydrogen, ammonia and methanol are expected to be used mainly as chemical and fertilizer feedstocks until around 2030, but are then expected to drive growth in the fuel market. In addition, biofuels such as SAF and HVO (Hydrotreated Vegetable Oil) are expected to be increasingly introduced mainly in the transport sector and become one of the promising options for decarbonization. 2°C Scenario With the implementation of decarbonization policies and emissions reduction targets in each country, the adoption of low-carbon fuels in the transport, industrial and power generation sectors is expected to accelerate. Clean hydrogen, ammonia and methanol are expected to be increasingly introduced mainly in sectors where decarbonization is difficult through electrification alone, and the use of biofuels such as SAF and HVO is also expected to expand. 1.5°C Scenario As decarbonization progresses rapidly, next-generation fuels are expected to play an important role in the energy system. Hydrogen and ammonia are expected to become widely used as key energy sources supporting the decarbonization of steel, chemicals, shipping, power generation and other sectors, while biofuels and synthetic fuels are expected to be used primarily in sectors where electrification is difficult, such as aviation and shipping. On the other hand, in the road transport sector, electrification centered on EVs is expected to progress rapidly, and therefore growth in biofuel demand is expected to be limited.
Impacts on the Business and Response	Risks and opportunities	(Opportunity) Increase in Revenue Due to Demand Growth Against the backdrop of the progress of decarbonization and the development of policy frameworks in each country, demand for next-generation fuels is expected to expand, and business opportunities are expected to grow through accelerated investment in new technology development and reductions in production costs. In particular, in areas such as low-carbon ammonia, revenue opportunities are expected to increase through the creation of new businesses, expansion of transactions and expansion of the customer base. (Short/medium/long term) (Risk) Risk of Declining Competitiveness Due to Technological Innovation and Policy Changes Technological innovation and changes in policies and regulations may create risks such as a decline in the competitiveness of existing fuels and facilities, and increased costs due to higher fuel and electricity prices, and the Company operates its business while monitoring these trends. (Short/medium/long term)
	Anticipated financial impact and response	In the biofuels business, where demand is expected to expand over the medium term, the Company will promote business expansion while leveraging the technologies and knowledge from existing investments. In addition, through initiatives in areas such as hydrogen and fuel ammonia, where long-term growth is expected, the Company will seek to expand revenue opportunities and strengthen its business portfolio while managing risks related to future additional investment and increased costs. The quantitative impacts related to the next-generation fuel business are not disclosed because there is a high degree of measurement uncertainty.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

Power VC: Thermal Power Generation Business and Renewable Energy Business

Our business

Thermal power generation: Gas- and oil-fired power generation and coal-fired power generation
Renewable Energy Business: Renewable energy generation, including solar, wind and hydro power generation

In the power VC, GHG emissions are particularly concentrated in "Power generation" in thermal power generation.
However, the Group's gas and oil fired power generation and coal-fired power generation businesses are mainly under the long-term power purchase agreements which compensation is paid based on available generation capacity rather than power generation volume, and as a result, the climate-related transition risks associated with the operation of the power generation assets held by the Group are limited.
Please refer to the following for further details.

Thermal Power Generation Business and Renewable Energy Business
Outlook of business environment	Current scenario Global electricity demand is expected to continue to increase, driven by population and economic growth, as well as from demand from data centers and other facilities associated with the spread of AI, alongside the progress of electrification in the industrial and transport sectors. In the power generation mix, coal-fired power generation is expected to peak out by around 2030 as decarbonization progresses, while gas-fired power generation is expected to maintain a certain role in the 2030s as an important power source that supports stable electricity supply and complements the variability of renewable energy. Renewable energy is expected to continue expanding, mainly solar and wind power, and is expected to account for more than half of power generation by around 2035 and approximately two-thirds by 2050. 2°C Scenario As climate change measures and initiatives to achieve net zero targets progress in each country, electricity demand is expected to increase at a faster pace than under the current scenario due to accelerating electrification, mainly in the transport and industrial sectors, and expanding electricity demand from data centers and other facilities. Coal-fired power generation is expected to decline rapidly, and gas-fired power generation is also expected to decrease over the long term, while power generation from renewable energy is expected to accelerate and investment to secure flexibility, such as storage batteries and transmission grid reinforcement, is also expected to increase. 1.5°C Scenario Electricity demand is expected to increase significantly over the medium to long term, driven by the rapid progress of decarbonization trends and expanding electricity demand from electrification, data centers and other facilities. The transformation of the power generation mix is also expected to accelerate, with coal-fired power generation declining rapidly and gas-fired power generation also decreasing significantly, except for certain applications involving CCUS or low-carbon fuels. Renewable energy is expected to account for the majority of electricity supply by 2050.
Impacts on the Business and Response	Risks and opportunities	The following describes the climate-related risks and opportunities and financial impacts related to the power generation business assets currently held by the Company. The analysis covers existing assets and does not incorporate the impacts of changes in the portfolio resulting from future new investments, asset recycling, business sales or other transactions. Thermal Power Generation (Risk) Risk of Increased Costs Due to Tightening Policies and Regulations Stronger carbon pricing systems and emissions regulations may make GHG emissions from operations subject to taxation and regulation, resulting in additional costs, including monitoring and reduction measures and capital expenditures required for regulatory compliance. (Medium/long term) (Opportunity) Market Expansion Associated with Recognition as Transition Energy As decarbonization progresses globally, gas-fired power generation may be more highly recognized as transition energy that contributes to stable electricity supply, and this trend may become particularly evident when emissions reduction measures such as biomass or hydrogen co-firing are implemented. The Company will consider its response while assessing these trends. (Short/medium term) Renewable Energy (Opportunity) Revenue Increase Opportunities Through Reduced Curtailment The introduction of facilities such as storage batteries and the development of transmission grids may reduce output curtailment caused by grid constraints, expanding the capacity to accept renewable energy and enabling more effective use of generated electricity, thereby creating opportunities for increased revenue. (Short/medium/long term) Business Efficiency Opportunities Through Higher Efficiency and the Introduction of Digital Technologies Higher efficiency in power generation equipment such as solar panels and wind turbines, as well as the introduction of AI and digital technologies in maintenance work, may create efficiency opportunities leading to increased revenue from higher power generation volumes and reduced operating costs. (Short/medium/long term)
	Anticipated financial impact and response	Thermal Power Generation Thermal power generation accounts for 66% of the Company's power generation business portfolio, or 6,203 MW. The Company has continued to transform its power generation business portfolio in response to the energy transition, and coal-fired power generation already accounts for less than 10%, while renewable energy accounts for 34%. For existing power plants in which the Company has interests, the majority are long-term power purchase agreements under which compensation is paid based on available generation capacity rather than power generation volume, and therefore the impact on profit and loss is assessed as "small". Renewable Energy As described above, the Company has continued to transform its power generation business portfolio and will seek to expand revenue opportunities, including in the Renewable Energy Business. The financial impacts actually expected for renewable energy are highly uncertain depending on individual circumstances, and therefore are not disclosed.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

Please scroll horizontally to look at table below.

Coal-fired power projects:
We will not invest in any new projects. We are studying plans to exit from our remaining coal-fired power assets^* by 2040. We take into account the responsibility of the current owners to address the impact on local communities of power purchase agreements which will continue into the 2040s, and to ensure appropriate returns for our shareholders, as preconditions for proceeding with exit.

* Remaining coal-fired power assets: Malaysia and Morocco

Gas-fired power projects:
We will examine the significance of holding each asset while fulfilling our responsibility as an operator to ensure a stable supply of electricity.
When we consider participating new gas-fired power projects, we will take into account the need for gas-fired power as a transition energy source such as the power supply mix and electricity demand outlook for each region, as well as potential future carbon costs.

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Power Generation Businesses (Gas-Fired Power Generation Business, Coal-Fired Power Generation Business, Oil-Fired Power Generation Business) as of March 31, 2026 (PDF 294KB)

Mobility and Transportation VC: Land Mobility Business

Our business

Land Mobility Business: Logistics, production, wholesale, sales, finance, leasing and rental of automobiles, automotive parts, construction machinery and mining machinery

In the mobility and transportation VC, GHG emissions are particularly concentrated in the "Use" stage.
However, as the Group's businesses (sales and related services for passenger vehicles, construction and mining vehicles, and freight transport vehicles) are generally in "Sales and leasing", the Group's climate-related transition risks are considered to be relatively lower than those across the VC as a whole.
Please refer to the following for further details.

Land Mobility Business
Outlook of business environment	Current scenario Against the backdrop of population growth and economic growth, total demand for land mobility by passenger vehicles and trucks is expected to continue increasing and reach nearly twice the current level by 2050. Regulations related to climate change mitigation are expected to be strengthened, driving changes in demand while accelerating electrification (EVs and FCVs). By 2035, approximately one in four vehicles is expected to be electrified, and EVs are expected to account for 50% of vehicle sales. 2°C Scenario While total demand for land mobility is not expected to differ significantly from the current scenario, electrification is expected to progress further. By 2035, approximately 30% of vehicles are expected to be electrified, and EVs are expected to account for roughly two-thirds of vehicle sales. 1.5°C Scenario Although growth in total demand for land mobility is expected to moderate somewhat after 2030, no significant change is anticipated. On the other hand, electrified vehicles are expected to grow more rapidly, with the number of vehicles in operation reaching 1.5 times that under the current scenario by 2035, and their sales share exceeding 90%.
Impacts on the Business and Response	Risks and opportunities	(Risk) Decline in Revenue Related to Internal Combustion Engines Due to Changes in the Industrial Structure Under the 2°C Scenario, against the backdrop of stricter emissions regulations over the medium to long term, changes in the demand structure mainly due to electrification are expected to progress more rapidly than under the current scenario, potentially reducing revenue opportunities related to internal combustion engines. This trend is expected to accelerate further under the 1.5°C Scenario. (Long term) (Opportunity) Revenue Expansion Through Capturing Demand Related to Electrified Vehicles By expanding product offerings for vehicles with diverse powertrains, including EVs, HVs, PHVs and FCVs, and implementing flexible sales strategies tailored to regional and customer needs, the Company may be able to capture changes in demand related to electrified vehicles and expand sales opportunities. (Long term)
	Anticipated financial impact and response	The Company conducts its mobility-related operations and business management in line with changes in the demand structure, leveraging its strong relationships with manufacturers. Through this approach, the Company seeks to respond flexibly to changes in the market environment and maintain and expand its businesses. As the risks and opportunities are expected to have financial impacts in opposite directions, the overall impact on the Company's revenue is expected to remain limited. The financial impacts related to the Land Mobility Business are not disclosed because there is a high degree of uncertainty.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

Chemicals VC: Mobility Materials Business

Our business

General Industry Materials Business: Sales and trading of materials for various industries, including plastic colorants and synthetic resins for industrial applications
Mobility Materials Business: Sales and trading of materials for various industries, including plastic colorants and synthetic resins for automobiles
Raw Materials for Chemicals Business (commodity and high-performance): Sales and trading of chemical raw materials for synthetic resins and other applications

In the chemicals VC, GHG emissions are particularly concentrated in "Manufacturing".
However, the Group's businesses are mainly concentrated in "Sales and trading", and as a result, the Group's climate-related transition risks and opportunities are concentrated in "Sales and trading".
Please refer to the following for further details.

Mobility Materials Business
Outlook of business environment	Current scenario Oil demand for petrochemical applications is expected to continue increasing toward 2050. In particular, significant investment will be required for improving energy-intensive production processes for basic chemicals, fuel switching for GHG reduction, introduction of CCUS, and the advancement of plastics recycling, and higher production costs for materials may push the increase in procurement costs. In the automotive sector, although the adoption of electrified vehicles such as EVs and HVs is expected to progress, global automobile production volumes are expected to continue increasing, and demand for materials that contribute to weight reduction and higher functionality is expected to remain firm. 2°C Scenario Compared to the current scenario, the increase in oil demand for chemical raw material applications is expected to be limited, while investment in low-carbon technologies is expected to occur earlier and expand in scale, further increasing the risk of higher production costs. In the automotive sector, electrification is expected to accelerate more than under the current scenario, and demand for battery-related materials, lightweight materials and other materials is expected to expand, while stronger requirements are expected for materials to respond to decarbonization and circular use. 1.5°C Scenario Against the backdrop of population growth and economic growth, production volumes of primary chemicals, including commodity chemicals, are expected to increase compared with the current scenario even in 2050. At the same time, the use of CCUS, electrification, hydrogen fuel use and recycled raw materials is expected to progress over the medium to long term, and investment in these low-carbon technologies is expected to expand rapidly after 2035. In addition, electrification of automobiles and the transition to a circular economy are expected to progress rapidly, and demand for recycled materials and low-carbon materials is expected to expand, while requirements to reduce GHG emissions across the entire supply chain are also expected to increase.
Impacts on the Business and Response	Risks and opportunities	(Risk) Changes in Demand for Fossil Fuel-derived Chemicals Against the backdrop of higher costs such as taxation on GHG emissions, requests from stakeholders and the spread of new low-carbon technologies, the demand structure for fossil fuel-derived chemicals with high GHG emissions may change. If responses are delayed, business value may decline due to a reduced share, lower competitiveness and the burden of additional investment. (Medium/long term) (Opportunity) Expansion of Demand for Low-carbon and Circular Products Demand for biochemicals, low-carbon materials and other products is expected to increase against the backdrop of progress in decarbonization responses and growing demand for low-carbon products. In addition, recycling businesses are expected to expand with a view to a circular society that achieves resource conservation. In particular, the development of products and services that add value through decarbonization and recycling in automotive-related areas may lead to the creation of new business opportunities and strengthened competitiveness. (Medium/long term) Accelerated Response to Automotive Regulations and Supply Chain Changes As automotive-related regulations are strengthened in each country and supply chain structures continue to change, business opportunities for handling automotive parts raw materials and other products may expand through the development of new business models that capture these changes and through improved competitiveness. (Medium/long term)
	Anticipated financial impact and response	Based on changes in the demand structure and regulatory environment associated with climate change responses, the Company expects the impact on its revenue or profit to remain limited by reviewing its handling products and portfolio in a timely manner, shifting from products with a high environmental impact to products with a lower environmental impact. The financial impacts related to the Mobility Materials Business are not disclosed because there is a high degree of uncertainty.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

Forest Resources VC: Forest Resources Business

Our business

Forest Resources Business: Afforestation, forest operation and management, and forest asset management

Our business is primarily positioned in the "Forest Management" stage of the VC. Please refer to the details below.

Outlook of business environment	Current scenario Demand for forest resources, including timber and woodchips used as raw materials, is expected to increase steadily, driven by global population growth and the expansion of housing and paper markets, particularly in emerging economies across Asia. In addition, the value of forest resources, primarily plantation timber, is expected to increase as countries strengthen natural forest protection policies and logging regulations. 2°C Scenario Demand for forest resources, including woodchips used as raw materials for housing materials and paper products, is expected to continue increasing steadily, as under the current scenario. In addition, growing recognition of the CO2 absorption function of forest resources and their characteristics as renewable natural materials is expected to drive the expansion of forest-based carbon credit markets, higher carbon credit prices, and growth in markets for high-value-added wood-derived products such as biochemicals. 1.5°C Scenario As efforts to reduce CO2 emissions intensify, carbon prices in developed countries are expected to rise to approximately 1.5 times the level assumed under the 2°C Scenario. Accordingly, further expansion of forest-based carbon credit markets, higher carbon credit prices, and growth in markets for high-value-added wood-derived products such as biochemicals are expected.
Impacts on the Business and Response	Risks and opportunities	(Opportunity) Revenue Expansion Through Increased Environmental Value of Forest Resources Stricter logging regulations and similar measures may increase the value of timber for construction materials, woodchips for paper production and other products as renewable resources produced in compliance with such regulations, creating opportunities for revenue growth. Growing demand for forest carbon sinks, emissions credits and biomaterials also represents a business opportunity. In addition, new opportunities may arise through initiatives such as business model transformation, energy conservation, the introduction of renewable energy and waste reduction. Enhanced forest resource management and recycling may also contribute to the expansion of low-environmental-impact businesses. (Medium/long term) (Risk) Increase in Forest Management and Production Costs Climate change may reduce productivity and increase the burden associated with sustainable forest management, resulting in higher production costs. However, the likelihood of a material impact on the business is considered low. (Medium/long term)
	Anticipated financial impact and response	Forest resources, particularly timber, are renewable natural materials that contribute to climate change mitigation, and demand is expected to increase under the current scenario. In both the 2°C Scenario and the 1.5°C Scenario, improved profitability is expected through growing demand for emissions credits, higher carbon credit prices, and the effective utilization of forest resource-derived biochemicals. The Company aims to maximize the value of forest resources not only through paper products, housing materials and the generation of emissions credits, but also through the development of new applications for wood-based materials. The quantitative impacts related to the Forest Resources Business are not disclosed because there is a high degree of measurement uncertainty.
	Current financial impacts	The climate-related risks and opportunities described above did not have a material impact in the fiscal year ending March 31, 2026.

The Company operates a wide range of businesses in various countries and regions, and may be affected if risks materialize due to an increase in extreme weather events associated with climate change.
Accordingly, when making new business investments, the Company conducts physical climate risk analysis as necessary, while also obtaining advice from external experts where appropriate, and carries out appropriate risk management.
In addition, even after making investments, the Company reviews the effectiveness of countermeasures at the sites of each business as needed.

If physical risks materialize, the Company has established a business continuity plan, with the highest priority placed on respecting human life and with consideration also given to coexistence with local communities.
The Company also implements adaptation and mitigation measures to avoid risks, including insurance coverage, securing multiple suppliers and strengthening facilities.
In the fiscal year ended March 31, 2026, in order to verify the appropriateness of its current risk responses, the Company used external climate analysis tools to analyze the future impacts of physical risks on its invested projects as described below.

The physical risk analysis is intended to provide an overview of potential impacts that may arise as temperatures rise, taking into account the location information of each site, asset characteristics and other factors. This analysis conducts climate data-based analysis by hazard as shown in the table below; however, it does not indicate future actual damage amounts based on a detailed review of the actual conditions of individual businesses, such as operations, business design and contract terms, but represents estimated values of the potential financial impacts of risks associated with each hazard based on available information and certain assumptions, and does not indicate the amount of damage that will actually occur.

The results of this analysis are estimates based on the assumption that existing response measures are not incorporated, including BCPs, insurance coverage, disaster prevention and mitigation measures and other measures implemented, and hence the Company recognizes that the possibility of a material impact on its financial position or business continuity is limited at this time.

The scale and likelihood of physical risks vary depending on the type of hazard and the target region, and include both risks that may intensify over the medium to long term and risks that may fluctuate depending on timing and region. As an overall trend, assuming that response measures are not incorporated, the number of affected sites and the potential financial impacts are expected to increase toward 2050.

Hazard		Number of sites exposed to risk		Potential financial impact, average per site (100 million JPY)		Segments	Regions	Examples of adaptation measures
		Medium term (FY March 2030)	Long term (FY March 2050)	Medium term (FY March 2030)	Long term (FY March 2050)
Acute: Flooding	Damage to buildings, equipment and inventory due to inundation from river flooding and torrential rainfall, and lost profits due to suspension of operations during the recovery period	5	6	13	15	Wellness Ecosystem, Energy, Iron & Steel Products, Chemicals	North America, Japan	Raising site ground levels and critical equipment, installing flood barriers, strengthening drainage capacity, developing embankments, etc.
Acute: Storm surge	Damage to equipment and salt damage due to inundation of coastal sites caused by rising sea levels associated with typhoons and other events, as well as suspension of operations during the recovery period	5	6	67	57	Energy, Mineral & Metal Resources, Chemicals, Mobility, Digital & Infrastructure, Iron & Steel Products	North America, Oceania, Asia, Japan	Raising site ground levels and equipment, installing coastal protection measures, strengthening drainage capacity, implementing salt damage countermeasures, etc.
Acute: Winds	Damage to building exteriors and outdoor equipment due to increased maximum instantaneous wind speeds, and lost profits due to suspension of operations caused by storms and power outages	2		6		Wellness Ecosystem	South America	Wind-resistant design, installation of windbreaks, etc.
Acute: Landslide	Physical damage to sites located near slopes due to slope collapse and debris flows, and long-term suspension of operations	2	3	100	73	Mineral & Metal Resources, Mobility, Digital & Infrastructure	South America, Japan	Development of retaining walls and slope protection, installation of protective fences and drainage facilities, installation of debris inflow protection facilities, etc.
Acute: Wildfires	Burn damage to buildings, equipment and biological assets due to fire spread, and lost profits due to suspension of operations during the recovery period and disruption of transportation routes	12	12	2	2	Chemicals	Oceania	Installation of firebreaks, thinning, firefighting measures, etc.
Chronic: Water stress	Operational constraints, reduced production volumes and increased water costs due to water withdrawal restrictions	6	3	2	16	Mineral & Metal Resources, Chemicals	South America	Introduction of seawater desalination, improvement of water use efficiency, etc.
Chronic: Heatwave	Restrictions on outdoor work, decline in labor productivity and constraints on equipment operations due to an increase in extremely hot days	6	10	4	6	Mineral & Metal Resources, Wellness Ecosystem	Oceania, Middle East, Asia	High-temperature-resistant design, introduction of air-conditioning equipment, restrictions on outdoor work and review of work arrangements, etc.

* "Financial impact" represents the site-level financial impact aggregated by hazard in the event that the relevant hazard materializes.
* "Number of sites exposed to risk" counts sites with a representative value of 100 million JPY or more per year.
* For storm surge and landslides, although the number of target sites increases from 2030 to 2050, the average financial impact per site decreases due to the characteristics of the additional sites.

Impacts on the Fiscal Year Ended March 31, 2026

The physical risks described above did not have a material financial impact in the fiscal year ended March 31, 2026.

Medium- to Long-term Response Policy and Adaptation Investments

In the fiscal year ended March 31, 2026, as adaptation responses to physical risks, the Company implemented measures such as annual updates of BCPs and disaster preparedness drills at each site, continued insurance coverage, investments to improve disaster resilience of facilities, which are implemented continuously at each site, securing alternative transportation routes in advance, and water management responses such as desalination in water-stressed areas, and the related costs are included in ordinary operating expenses by business segment.

For our Transition Plan, access here.

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Transition Plan (PDF 293KB)

We identify company-wide material risks across organizational boundaries and implement a wide range of initiatives to hedge and control risks. For this purpose, Mitsui has established an integrated risk management system that centrally manages company-wide risks, through the Portfolio Management Committee under the Executive Committee. Under the integrated risk management system, the Corporate Staff Division, which acts as the secretariat, manages risks from a company-wide perspective. Material risks we assume include those related to the environment, society, and governance, such as risks from climate change, compliance, and infectious disease, disasters, terrorism, etc. We position risks regarding climate change (physical and transition) as the same level of importance as business investment, geopolitical, and country risks and are taking corresponding measures.

For details of our risk management structure, please refer to the following page.

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Risk Management

For Mitsui & Co., which operates in countries and regions around the world, the policies of each country and region related to climate change have a significant impact on the profitability and sustainability of each of our businesses. We use the climate-change scenarios published by the IEA and other organizations when analyzing scenarios involving businesses that have significant impacts. We do so to gain an understanding of business impacts both in terms of risk and opportunity, and when considering investment projects, M&A, and other business decisions, we determine business priorities and take these scenarios into account.
In conducting business, we have put in place a system to ensure we give utmost consideration to the environment and society in projects at all stages, including at the launch of a new business, during operations, and even when withdrawing from the business. Our Sustainability Committee discusses response policies and measures regarding environmental and social risks (including climate-change risk), then reports to the Executive Committee and the Board of Directors, which then applies them following approval.

Mitsui has established achieving net-zero emissions as our Vision for 2050, and has set the following interim targets^*1 as the pathway to achieving the goal.

1. For Scopes 1 and 2, and Scope 3 Category 15 (Investments) of the company and its consolidated subsidiaries (including unincorporated JVs^*2):
   Halving GHG Impact^*3 as of 2030 compared to 34 million t-CO₂e in the fiscal year ended March 2020
2. For Scopes 1 and 2, and Scope 3 Category 15 (Investments) of the company and its consolidated subsidiaries (including unincorporated JVs^*2):
   Reducing GHG emissions as of 30% compared to 44 million t-CO₂e in the fiscal year ended March 2020^*4
3. For Scopes 1 and 2 of the company and its consolidated subsidiaries:
   Halving GHG emissions as of 2030 compared to 0.8 million t-CO₂e in the fiscal year ended March 2020.
4. The renewable energy ratio of our power generation portfolio:
   Raising the ratio of renewable energy to over 30% as of 2030.

*1 Although the categorization of emissions data and the scope of reporting were expanded from the fiscal year ending March 31, 2026, the target boundary has remained unchanged from the fiscal year ending March 31, 2025, for progress management purposes, as retrospective calculation for the target base year is not feasible. For details, please refer to Appendices 4 and 5 of the presentation, Business Briefing: Sustainability Management."

Business briefings: Sustainability Management

*2 Unincorporated JVs = unincorporated joint ventures.
*3 GHG emissions after deducting emissions absorbed and offset, as well as reduction contributions achieved through business activities, from the Company's own emissions.
*4 Emissions in the baseline year (the fiscal year ended March 2020) include GHG emissions of 36 million t-CO₂e and the 8 million t-CO₂e that is expected to increase from the standard operation of the thermal power generation business that has made reached final investment decisions (FID) by the end of March 2020.

GHG Emissions

Mitsui has carried out GHG emissions surveys in Japan since the fiscal year ended March 2006, and overseas since the fiscal year ended March 2009. Previously, we disclosed Scope 1 and 2 GHG emissions under the GHG Protocol^*1 control standards^*2. Since the fiscal year ended March 2020, we have additionally disclosed Scope 3, Category 15 (indirect emissions associated with investments), which covers emissions from investments in energy, mineral, and metal resources as well as thermal power generation business not included in Scopes 1 and 2, and other affiliated company business areas that fall under Scopes 1 and 2. Furthermore, since the fiscal year ended March 2024, we have expanded disclosure to include all applicable Scope 3 categories. Moreover, we have enhanced the scope of disclosures to promote continuous reviews of our portfolio in response to stakeholders' wishes and in consideration of our risk tolerance to climate change, which also takes into account Mitsui's strategy of using our wide range of business activities to take on the challenge of new opportunities in an agile way. The Ruwais LNG Project in the UAE reached final investment decision status in July 2024, is a low-carbon LNG business that features measures to reduce GHG emissions at the LNG production stage by employing electric motors instead of conventional gas turbines for liquefaction plants and utilizing clean power. Together, they contribute to making a sustainable transition to a decarbonized society in addition to providing a long-term stable earnings base.

*1 The GHG Protocol is a GHG emissions calculation and reporting standard formulated through an initiative led by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD).
*2 Coverage: Head Office and branches and offices in Japan, all consolidated subsidiaries (100%), and unincorporated joint ventures.

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• Environmental Performance Data

As a responsible global company, we are advancing and expanding our response to climate change by participating in initiatives based on international frameworks and wide-ranging partnerships through industry organizations in Japan. In our international initiatives, we signed the United Nations Global Compact in 2004 and declared our support. We also invest in the Human Rights Due Diligence Subcommittee of the Global Compact Network Japan, among other activities. Furthermore, to comply with the Paris Agreement and achieve medium- to long-term targets for reducing greenhouse gas emissions of national governments including Japan, we comply with environmental laws and regulations such as the Energy Conservation Law. We are also actively involved in the formulation and design of government-led policies and programs such as the GX Future League, etc. Our decision to invest in each initiative is made once we have confirmed that it is compatible with our basic policy and initiatives concerning climate change, and we will disclose information appropriately to our stakeholders.

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Participation in Initiatives

Our Medium-term Management Plan and Environmental Policy both call for action on climate change, and we are promoting initiatives to reduce our environmental impact through dialogue with suppliers and other business partners along the value chains in which we are involved; the aim is to achieve both economic development and a response to climate change. In addition to renewable energy and modal shift businesses, we are also working to expand and promote various businesses and technologies that contribute to the reduction of CO₂ emissions and improvement in energy consumption efficiency.

Making Energy Use Carbon-Neutral across All Business Locations in Japan (Using J-Credits)

We offset the CO₂ emitted from the use of energy, at our Head Office, all branches and offices in Japan, and training centers, by applying emissions credits (J-Credits) generated by Konan Utility and a company in which we have invested.

• Digital & Infrastructure Solutions Business Unit

In our power generation business we intend to lower the share of coal-fired power in our equity share of power generation capacity, and increase the renewable energy ratio (including hydropower) to 30% by 2030. As of March 31, 2026, renewable energy, including hydropower, accounted for approximately 34% of Mitsui's equity share of power generation capacity of 9.43 GW.

Power Generation Businesses

Please scroll horizontally to look at table below.

(As of March 31, 2026)

* Including assets under construction

Please refer to the link below for more information.

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Power Generation Businesses (Renewable Energy Business, Gas-fired Power Generation Business, Coal-fired Power Generation Business, Oil-fired Power Generation Business) as of March 31, 2026 (PDF 294KB)

Investment in India's Large-Scale Renewable Energy Business

• Digital & Infrastructure Solutions Business Unit

Through our wholly owned subsidiary MIT Power India, we are an investor in the development of a large-scale renewable energy business promoted by ReNew Private Limited, the largest renewable energy company in India. The business will consist of three newly built wind farms and one solar power plant (plus a battery storage farm) with a total installed capacity exceeding 1GW. The business provides renewable energy-based electricity on a stable basis to Solar Energy Corporation of India Limited (SECI), an entity owned by the Indian Ministry of New & Renewable Energy, based on a 25-year power purchase agreement. Whereas it is difficult for conventional renewable energy projects to commit stable electricity supply due to the intermittent nature of winds and solar irradiation, this business commits electricity supply on a round-the-clock basis from a portfolio consisting of multiple wind and solar facilities plus battery storage farms. This "round-the-clock scheme" is the first of its kind in India. Mitsui will contribute to the smooth operation of the business by using its accumulated knowledge of the electric power business in Japan and other countries.
India, the third-largest emitter of GHGs, has set a target to achieve net-zero GHG emissions and announced that it will raise its non-fossil energy capacity to 500 GW by 2030. This round-the-clock scheme project, enabling electricity supply with 100% renewables, is in line with the Indian Government's policy and is expected to play an important role in the future to replace the coal-fired power plants currently represent over 40% of India's installed capacity. Renewable energy is a business field that is likely to keep expanding in India, where continuous population and GDP growth are expected. Through this business, we will contribute to solving the power shortage in India and encourage decarbonization.

We are working to build a value chain for low-carbon ammonia by leveraging our strengths as a diversified global investment and trading company with touchpoints across a wide range of industries.

Low-carbon Ammonia Production Business (UAE)

• Integrated Energy Solutions Business Unit
• Basic Materials Business Unit

We have begun construction of an ammonia production facility in the United Arab Emirates, in partnership with TA'ZIZ (backed by Abu Dhabi National Oil Company (ADNOC). The partnership also includes Fertiglobe (a manufacturer and exporter of urea and ammonia), and GS Energy (a Korean energy-related business). The plant is being developed within the TA'ZIZ Development Area in the Ruwais Industrial Complex of the United Arab Emirates, with the aim of producing 1 million tons per year of ammonia with lower CO₂ emissions compared to conventional methods. In addition, by installing additional facilities to capture and store CO₂ emitted during production, we aim to manufacture low-carbon ammonia while further reducing overall CO₂ emissions.Ammonia is attracting attention as a zero-emission fuel that does not emit CO₂ when burned, and also as a carrier for hydrogen. A certain portion of the ammonia produced will be procured and supplied mainly to Japan and other parts of Asia. In addition to fuel applications, it will be used as a feedstock for chemicals and fertilizers, contributing to decarbonization across society, including other industrial sectors.
In the energy sector, we have been developing and managing liquified natural gas business with ADNOC in the United Arab Emirates since the 1970s. We also have approximately 50 years of experience in the ammonia business and are the largest Japanese importer of ammonia. By integrating the cross-sectoral expertise and partnerships we have cultivated through existing businesses, we will advance the development of a low-carbon ammonia supply chain that responds to the decarbonization needs of countries and regions.

Low-carbon Ammonia Production Project (US)

• Basic Materials Business Unit
• Integrated Energy Solutions Business Unit

Mitsui has made a final investment decision to participate in the Blue Point low-carbon ammonia production project in the United States, together with CF Industries Holdings, Inc. (CF Industries) and JERA Co., Inc. (JERA).

The plant will be constructed in the state of Louisiana in partnership with CF Industries, the world's largest ammonia producer, and JERA, Japan's largest power generation operator. It will be one of the world's largest low-carbon ammonia production facilities, with an annual production capacity of approximately 1.4 million tons.

The low-carbon ammonia produced will be procured by each shareholder, and we plan to supply our share mainly to Europe and Asia. The business is expected to capture and store 2.3 million tons of CO₂ annually, reducing CO₂ emissions from the production process by more than 95%.

As a priority area within "Global Energy Transformation 2.0," one of the Key Strategic Initiatives under Medium-term Management Plan 2029, we aim to contribute to a wide range of low-carbon industries through the production and sale of low-carbon ammonia, which is attracting attention as a next-generation fuel in addition to its conventional use as a feedstock for fertilizers and chemicals.

Renewable Diesel and SAF Production in Portugal

• Integrated Energy Solutions Business Unit

Hydrogen-related

• Integrated Energy Solutions Business Unit

Green Hydrogen Production Business in Western Australia

• Integrated Energy Solutions Business Unit

Green hydrogen, which is produced from renewable energy, will play a pivotal role in industrial decarbonization and holds significant potential as a clean energy source. This is because renewable hydrogen emits no CO₂ in the production and burning process and can be used in various industries. We are participating in a green hydrogen production business in the Pilbara region of Western Australia. In this business, a joint venture between major French energy player Engie S.A. and Mitsui will deploy a 10-MW electrolyzer powered by 18 MW of solar PV to generate and supply renewable hydrogen for an existing ammonia production facility owned by Yara Pilbara Fertiliser Pty Ltd (YPF). YPF is a wholly owned subsidiary of Yara International ASA, one of the world's largest producers of nitrogen-based mineral fertilizers, and will use the renewable hydrogen as a zero-carbon feedstock for ammonia production.

Green Hydrogen Production Business in Europe

• Performance Materials Business Unit

Decarbonization Solutions for the Mobility Sector

• • Performance Materials Business Unit

e-Methanol Production and Sales Business in Denmark

• Basic Materials Business Unit
• Integrated Energy Solutions Business Unit

Distributed Solar Power Generation Business

• Digital & Infrastructure Solutions Business Unit

We have established Forefront Power, a wholly owned subsidiary based in California, the center of the U.S. clean energy market, through the acquisition of the Commercial & Industrial Division (C&I) of SunEdison in 2017. Today, Forefront Power provides clean energy services across the United States and Mexico, primarily serving public sector customers such as schools, as well as commercial and industrial customers. The company primarily develops and operates "Onsite Solar" projects, which supply electricity generated from solar power facilities installed at customer sites, as well as "Community Solar" projects, which supply electricity from solar facilities installed outside customer sites to multiple customers. In addition, Forefront Power provides energy storage systems, EV charging infrastructure, advisory services supporting GHG reduction and energy procurement optimization, and energy management services. Through these initiatives, the company is expanding its distributed energy solutions business to address customers' evolving energy and sustainability needs.

• Global LNG Business Unit
• Digital & Infrastructure Solutions Business Unit

Fukushima Gas Power Co., Ltd., our equity accounted investee, has two natural gas-fired power facilities at its Fukushima Natural Gas Power Plant in Soma, Fukushima Prefecture. These have a total power output of 1.18 million kW. The power generation facilities use a gas turbine combined-cycle system with high power generation efficiency. This combination of a gas turbine and a steam turbine generates a lower level of CO₂ than coal-fired or gas turbine-only power generation methods.
This business is in line with Fukushima Prefecture's goals of the "introduction of energy with a low environmental impact" and "new urban development" under the Fukushima Innovation Coast Framework. Through promoting this business, Mitsui & Co. will contribute to the economic revitalization in the Hama-dori region of Fukushima prefecture to help in its ongoing recovery from the 2011 earthquake. We will continue to work on the sustainable and stable supply of resources that are essential for social development and the creation of a society that is in harmony with the environment.

• Mobility Business Unit I
• Digital & Infrastructure Solutions Business Unit

Among the mobility (transportation) areas that we have defined as our new growth areas, we expect electrification (the shift to electric vehicles) to be particularly promising. In Europe, where the introduction of EVs is gathering momentum, we are building a comprehensive business model that supports the changeover to EVs, including infrastructure, and are expanding it in other regions as well.
We are organically linking several companies in which we have an interest in order to build a new business model that can provide comprehensive solutions. These include EV makers (CaetanoBus-Fabricação De Carroçarias S.A, Letenda Inc.), EV and battery operating lease provider (NEoT Capital SAS), and an energy management company that uses EV batteries (The Mobility House AG). For example, if a city considers switching its fixed-route buses to EV, we would like to help the city speed up its changeover to electric vehicles. In concrete terms, we can offer a comprehensive range of services including EV bus supply, battery leasing, and energy management. Furthermore, in future, we are also considering businesses involved in the reuse and re-leasing of used batteries. We will begin these initiatives in Europe and the United States, and then expand them to Asia.

ZEV (Zero-Emission Vehicle) Business

• Mobility Business Unit I

Caetanobus - Fabricacao de Carrocarias, S.A. (CaetanoBus) of Portugal, in which we have invested, has been developing electric buses since 2010. It has introduced EV ramp buses for airport passenger transportation, EV city buses and FC (fuel cell) city buses, mainly in Europe, to the market in stages, providing optimal solutions tailored to operations for a decarbonized society. In India, we have invested in Pinnacle Mobility Solutions Private Limited (Pinnacle Mobility), which is developing an electric bus and electric light commercial vehicle manufacturing and sales business under the EKA brand, and World of River Limited, which is developing an electric motorcycle manufacturing and sales business under the River brand since 2023. Pinnacle Mobility has been steadily expanding its business both in manufacturing and sales. Since commencing full-scale commercial production and sales in 2024, the company has continued to grow up by securing its order backlog exceeding 10,000 electric buses, primarily for major cities in India, between 2025 and 2026, while also expanding its presence in overseas markets.

River handles the production of an electric scooter developed from its production model and tailored for the Indian market in collaboration with Yamaha Motor Co., Ltd. The electric scooter has been available mainly in urban areas across India since 2026, and features a "Stylish & Cool" exterior design theme fitting customers leading an active daily lifestyle. With both companies, we will further promote the electrification and decarbonization of mobility and contribute to the creation of a society in harmony with the environment.

In addition, we invested in Kite Mobility Inc. ("Kite"), a Canada-based company offering electric vehicle ("EV") sharing services for condominium residents, in 2025. Kite stations EVs in residential parking facilities, providing residents with on-demand access to EVs. By alleviating parking constraints in urban areas and offering new mobility options, Kite enables both reduced environmental impact and enhanced convenience.

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360° business innovation: FULL CHARGE AHEAD: Assembling an EV value chain for the smart-city era

Biodiesel Fuel Solution Equipment Manufacturing and Sales Business

• Mobility Business Unit I

• Corporate Development Business Unit

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Circular Economy: Initiatives

Investment in the CCS Business

• Global LNG Business Unit
• Integrated Energy Solutions Business Unit

We are focusing on launching and promoting the CCS as a Service (CCSaaS) business as a core component of our next-generation E&P business, in addition to reducing CO₂ emissions from our own assets. We position the CCS/CCSaaS business, which leverages our expertise in the upstream oil and gas business and extensive business network, as one of our energy solution areas. Leveraging our experience in developing CO₂ capture and storage projects in leading markets such as Europe, we are working to develop CCS businesses globally.　In the Asia Pacific Region, including Japan, we together with The Kansai Electric Power Co., Inc., Kyushu Electric Power Co., Inc., Cosmo Oil Co., Ltd., The Chugoku Electric Power Co., Inc., Electric Power Development Co., Ltd., Crasus Chemical Inc., and Mitsubishi UBE Cement Corporation, have won a bid to conduct engineering design work for the CCS project southern Offshore Peninsular Malaysia, following a public call for bids by the Japan Organization for Metals and Energy Security (JOGMEC) to select Advanced CCS Projects for FY2025. In Malaysia, we have signed a contract with Petronas, an oil company in Malaysia, and TotalEnergies in France for the joint development of CO₂ storage sites. The project targets maturing gas fields with declining reserves and surrounding subsurface formations offshore the Malay Peninsula, including a development plan based on the technical evaluation of CO₂ underground storage, and optimization of logistics that includes transportation by liquefied CO₂ ships and design of port facilities.
In Thailand, we, through MOECO Thailand Co., Ltd., our consolidated subsidiary, have joined a Carbon Capture and Storage (CCS) project at the Arthit gas field in the Gulf of Thailand, operated by Thailand's PTT Exploration and Production (PTTEP). MOECO Thailand Co., Ltd. holds a 4.7619% share in the project. This is the first CCS initiative in Thailand.
In Denmark, together with TotalEnergies and Nordsøfonden, we successfully bid for a potential CO₂ storage site in the North Sea and obtained an exploration permit for CO₂ storage.

Indonesia's Tangguh Ubadari, CCUS, Compression (UCC) Project reached Final Investment Decision in late 2024. It is an initiative contributing to the transition to a decarbonized society in a sustainable manner. It also contributes to helping to maintain a stable energy supply to Asian countries, including Japan, and is Indonesia's first at-scale LNG project.

We are working on a joint study with Sempra Infrastructure in US, Total Energies in France, and Mitsubishi Corporation, who are partners in the Cameron Liquefied Natural Gas (LNG) Project, aiming to commercialize CCS in Louisiana, USA, through Hackberry Carbon Sequestration, LLC (100% subsidiary of Sempra Infrastructure). This project mainly involves storing CO₂ emitted from the Cameron LNG Project in underground areas near the project, which will help to reduce greenhouse gas emissions during LNG production. In addition, this study will also consider the possibility of receiving CO₂ emissions from surrounding industries and storing them underground. Prior to the start of the study, in August 2021, we applied to the US Environmental Protection Agency for permits for well drilling and CO₂ storage of up to 2 million tons per year at the CCS project site.

We will continue to contribute to reducing CO₂ emissions from each company through CCS and the supply of low-carbon LNG.

CCU — Producing Methanol in the US that Uses CO₂ Effectively

• Basic Materials Business Unit

Our equity accounted investee, Fairway Methanol LLC, is producing methanol by using carbon dioxide (CO₂) emitted from 3rd party facilities adjacent to the joint venture's facility. Fairway Methanol captures 180 thousand tons of CO₂ and produces 130 thousand tons of low-carbon methanol per year, which enabled its annual production capacity to 1.63 million tons per year. This additional methanol production, using industry-derived CO₂, is one of the carbon capture and utilization (CCU) projects that Mitsui has undertaken. The concept behind these projects considers CO₂ as a resource that can be reused as a raw material and fuel, thus realizing carbon recycling and helping to reduce CO₂ emissions into the atmosphere. This project provides Mitsui with another low-carbon solution in its methanol business portfolio, following the bio-methanol (mass-balance basis) production at Fairway Methanol and the e-methanol production at Solar Park Kasso, Denmark.

Certifications

• Performance Materials Business Unit
• Integrated Energy Solutions Business Unit

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Responsibilities to Customers: Acquisition of Environment-Related Certification in Company-Owned Forests "Mitsui's Forests," Forestry Resources Business, etc.

We aim to invest in environmentally friendly buildings and make energy use in our existing buildings more efficient through environmental and energy-saving measures in order to build a portfolio of properties that have a low environmental impact.

Otemachi One (Mitsui & CO. Building and Otemachi One Tower)

DBJ Green Building Certification is a certification system that evaluates environmentally and socially conscious real estate. Otemachi One (Mitsui & CO. Building and Otemachi One Tower), an office building owned by our company and others, has been certified as "one of Japan's top-class, superior buildings exhibiting excellent environmental and social awareness" under DBJ Green Building Certification system.

Japan Logistics Fund, Inc.

• Corporate Development Business Unit

Japan Logistics Fund, Inc. (JLF), a listed REIT is operated by our subsidiary Mitsui & Co., Logistics Partners Ltd., owns and manages 55 logistics facilities (as of March 2026).
With regard to JLF, we actively promote ESG initiatives in the management of logistics facilities. We believe that obtaining objective evaluations and certifications will enable us to understand the positioning and the challenges of JLF's ESG initiatives, and enable us to further strengthen our efforts. We are therefore working to obtain Green Building Certification and improve the results in third-party evaluations.

Acquiring External Certification

GRESB Real Estate Assessment

GRESB is an annual benchmarking assessment, which measures the ESG integration of real estate companies and funds. In the 2025 assessment, Japan Logistics Fund, Inc. received the highest rating of five stars. In addition, the company received a "Green Star" for the eight consecutive year in both the "Management Component," which evaluates the company's policies and organizational structure for ESG promotion, and the "Performance Component," which evaluates the company's environmental performance and tenant engagement at owned properties.

SBT for SME Certification

JLF has established Scope 1 and 2 greenhouse gas emission reduction targets of 42% below the FY March 2021 level by FY March 2030 and net-zero by FY March 2050. Of these, the greenhouse gas emission reduction targets by FY March 2030 were recognized by the SBT Initiative, an international organization, as following the goals of the Paris Agreement that "aims to keep the global average temperature well below 2°C above pre-industrial levels and pursue efforts to limit global warming to 1.5°C." JLF has received the Science-Based Targets (SBT) for SME certification from the international SBT initiative in 2022.

Green Finance Framework Assessment

We have established the Green Finance Framework, with the aim of further promoting sustainability-related initiatives through green finance and strengthening our fund-raising base by expanding the investor base interested in ESG investment. JLF has obtained a Green 1(F) (highest for JCR Green Finance Evaluation) rating for the competence of its Green Finance Framework from Japan Credit Rating Agency, Ltd. (JCR)

Acquisition of Green Building Certifications

JLF aims to build a portfolio with low environmental impact by investing in properties that have a small environmental footprint, and improve energy efficiency through environmental and energy conservation measures in the management of its properties. In addition, when redeveloping owned properties (OBR), the company intends to obtain Green Building Certification after the redevelopment.

Percentage of Portfolio with Green Building Certification (as of August 31, 2025)

Please scroll horizontally to look at table below.

Type of certification	Number of properties	Leasable area (m2)	Percentage of portfolio (by area)
CASBEE Certification for Real Estate*1	50	1,494,497.34	98.2%
BELS Certification*2	25	716,850.89	47.1%
Percentage of portfolio with Green Building Certification	51	1,505,152.80	98.9%

As some properties have multiple certifications, the total of the figures for each certification type does not equal the figure for the "Percentage of portfolio with Green Building Certification."
*1 CASBEE is a method designed to comprehensively assess the environmental efficiency of buildings, and is promoted throughout Japan under the guidance of the Ministry of Land, Infrastructure Transport and Tourism. Certification for CASBEE for Real Estate is a system where third-party institutions examine and certify assessment results prepared in accordance with CASBEE for Real Estate. The certification rating is represented by the number of stars on a four-tier scale from five stars "★★★★★" ("S") to two stars "★★" ("B").
*2 BELS is a third-party certification system in Japan that indicates the energy efficiency of buildings. Since April 2016, the Act on the Improvement of Energy Consumption Performance of Buildings (Building Energy Efficiency Act) requires real estate companies to make efforts to indicate the energy efficiency of buildings. The specific indication method is stipulated in the guidelines for energy efficiency labels of buildings. BELS is evaluated based on the same guidelines, and the assessment result is represented by the number of stars (one star "★" to five stars "★★★★★"); from April 2024, it is shown on a scale of seven levels (Level 0 to 6). A Net-Zero Energy Building (ZEB) is a building that aims for zero energy balance with considerably reduced annual energy consumption by saving as much energy as possible. Ways to save energy include better heat insulation, solar shading, natural energy and high-efficiency equipment, coupled with creating energy by solar power generation (or other energy-generating methods), while maintaining a comfortable environment. In addition, in the BELS certification system, it is possible to obtain certification under four levels (ZEB, Nearly ZEB, ZEB Ready, and ZEB Oriented).

Mirai Corporation

• Corporate Development Business Unit

Mitsui Bussan & Idera Partners, our associated company that manages the assets of listed Real Estate Investment Trust MIRAI Corporation, is promoting sustainability-related measures that include ongoing participation in real estate assessments, as well as green financing, in accordance with our Sustainability Policy.

Acquiring External Certification

GRESB Real Estate Assessment

Listed Real Estate Investment Trust MIRAI Corporation earned three Stars in the GRESB Real Estate Assessment in 2025, based on the relative evaluation of its overall score. MIRAI also earned a "Green Star" in both the "Management Component," which evaluates the company's policies and organizational structure for ESG promotion, and the "Performance Component," which evaluates the company's environmental performance and tenant engagement at owned properties. It was also awarded a "Level A" in GRESB Public Disclosure, which assesses the adequacy of sustainability information disclosure.

Percentage of Environmental Certifications Acquired

The percentage of environmental certifications in the portfolio is as follows.

(As of April 30, 2026)

Based on gross floor area
74.2%

Mirai Corporation has acquired DJB Green Building Certification for 10 properties, CASBEE Certification for Real Estate for 6 properties, and Building-Housing Energy-efficiency Labeling System (BELS) Certification for 1 property.

Forest Sinks and Emission Credits Business

• Integrated Energy Solutions Business Unit

Generation and Sale of Carbon Credits through Regeneration of Native Vegetation

Climate Friendly carbon farming project site

We have invested in Climate Friendly Pty Ltd., a leading nature-based carbon credit developer in Australia. The company operates "carbon farming" businesses that remove and sequester GHG from the atmosphere through a range of approaches, including vegetation regeneration on farms, afforestation, and soil carbon sequestration in agricultural and pastoral lands. By collaborating with local farmers and landowners to generate and sell high-quality carbon credits, the company contributes to the achievement of national and corporate GHG reduction targets In addition to GHG reductions, these activities also deliver co-benefits to the natural environment, such as biodiversity restoration and improvements in soil health. Through our partnership with Climate Friendly, we will promote nature-based climate solutions and contribute to the conservation of local ecosystems and the realization of a global decarbonized society.

Generation and Sale of Forestry-derived J-Credits through Proper Forest Management

J-Credit-eligible forest areas (Okayama Forest Maintenance Public Corporation)

Mitsui has been working on the generation and sale of J-Credits (forest J-Credits) by conducting appropriate forest management in Japan as part of our efforts to address the issue of climate change by applying industrial solutions. Since 2019, we have lobbied for regulatory reforms to enable large-scale J-Credit creation using aerial survey data and satellite data, and have commenced commercialization activities by using our company-owned forests across Japan. Currently, we are promoting joint creation projects with several forestry corporations and local governments, and we have started making sales since obtaining credit certification and issuance in 2023. We provide these J-Credits as a way for GHG-emitting companies to meet their offset needs for emissions that cannot be reduced through their own GHG reduction efforts, such as energy-saving devices and the adoption of renewable energy sources, to achieve their carbon-neutrality targets. Moreover, by utilizing the revenue from these J-Credits to manage forests appropriately, we aim to enhance the multifaceted value of regional forestry resources, solve forest management challenges through revitalizing the forestry management business, and help to rebuild local economies. We will continue to actively engage in the creation and sale of credits moving forward.

Financing

Use of Sustainability Linked-Loans

Mitsui uses sustainability linked-loans (SLLs) as part of our efforts to realize a sustainable society. These loans incorporate KPIs related to climate change response, and the financing terms and conditions are subject to change depending on the extent to which these targets are achieved. Through such financing methods, we aim to integrate response to environmental issues into our corporate management and achieve both sustainability and increased corporate value.