May 21, 2009

(1518: TSE 1st Section, FSE)

Presentation for Business Resultsfor the Year Ended March 2009

(1518: TSE 1st Section, FSE)

Presentation for Business Resultsfor the Year Ended March 2009

22

FY 2008 Financial Results ・・・P.3

FY 2009 Consolidated Financial Forecast ・・・P.9

Content

Future Growth Strategy ・・・P.13

Appendix ・・・P. 19

33

FY 2008 Financial Results

44

FY 2008 ― Income Statement (Consolidated)Highlights

Net sales, operating profit and ordinary profit:As crude oil prices and raw material prices soared, coal prices also rose which led to a favorable performance in the Fuel business. As a result, net sales, operating profit and ordinary profit set record highs.Non-operating expenses: Posted an exchange loss of ¥1,922 mil due to a sharp decline in the Australian dollar.Extraordinary loss: Posted a loss in valuation of investment securities of ¥2,186 mil and an impairment loss of ¥1,252 mil. Income taxes-deferred: Posted ¥849 mil in income taxes-deferred (loss) due to reversal of deferred tax assets. Net profit: Net loss of ¥1,251 mil for the current period due to the above.

81184937Corporate taxes-deferred

△ 3,618△ 1,2512,367Net profit

372,4102,373Income taxes-current

1,8932,583690Non-operating expenses

3,4134,251837Ordinary profit

47393345Non-operating profit

2,4743,6581,183Extraordinary loss

△3,6891,4155,105Extraordinary profit

△2,7512,0084,759Income before income taxes

5,2586,4411,182Operating profit

107,69175,097 32,593Net sales

ChangeAmountAmountYoYFY 2008FY2007

(Million yen)

55

YoY (Million yen)

FY 2007 FY 2008

Change

46,792 87,552

Building Material 25,036 17,226 △7,809

Real Estate 682 606 △76

Others 627 384 △243

Eliminations ー ー ー

Total 75,097 107,691 32,593

Supermarket 1,958 1,921 △37

Fuel 40,760

Change

5,2586,4411,182Total

△ 24△ 43△ 18Eliminations

△ 204△ 244△ 40Others

△ 172240Real Estate

6966△ 2Building Material

△ 32△ 131Supermarket

1,172 6,642

FY 2008

5,469

YoYFY 2007

Fuel

(Million yen)

【Net sales】 【Operating profit】

FY 2008 ― Segment Information (Consolidated)

Net sales represent sales of external customers.

HighlightsFuel business : Posted net sales of ¥87,552 mil (up ¥40,760 mil YoY) and operating profit of ¥6,642 mil

(up ¥5,469 mil YoY) due to rise in coal prices.Building Material business :Posted net sales of ¥17,226 mil (down ¥7,809 mil YoY) and operating profit of ¥66 mil (up ¥69 mil YoY) as a result of using strict credit approval standards and eliminating underperforming products in accordance with a downturn in the real estate and construction industries.Other businesses ： Posted net loss of ¥244 mil due to start-up cost and other expenses for operating the subsidiary

Ikeshima Urban Mine in full-scale in 2009.

66

Business Segment Breakdown of <Fuel Business>

YoY (Million yen)

FY 2007 FY 2008Change

41,402 75,427

Sales volume

5.49mil tons

4.77mil tons

△ 0.72mil tons

Sales volume

1.06mil tons

1.26mil tons

0.2mil tons

Coal production 7,135 15,711 8,576

Others 2,275 2,230 △ 45

Eliminations △ 4,020 - 5,816 - 1,796

Fuel total 46,792 87,552 40,760

Coal import and sales 34,025

Change

5,4696,6421,172Fuel total

13555△ 81Eliminations

4134△ 7Others

5,2556,4481,193Coal production

67 105

FY 2008

38

YoY FY 2007

Coal import and sales

(Million yen)

【Net sales 】 【 Operating profit 】

*”Others” represent Maritime Transport, Warehousing business and Coal Unloading business.

¥88.60¥98.77A$/¥A$ 0.8987¥100.17US$ 189.96US$ 118.6FY 2008 (Jan – Dec 2008) result

A$0.8282¥112.69US$63.53US$53.07FY 2007 (Jan – Dec 2007) result

US$/A$

Semi soft coking coal

US＄/¥

Steam coal

Exchange rate

Coal price【Major index】

¥15,823 (FY2008)¥7,537 (FY2007)Average price of coal import and sales

77

HighlightsCurrent assets: Decreased ¥7,054 mil YoY as a result of decrease in cash and cash deposits due to payments for the extension of Liddell

Coal Mine preparation plant in Australia and decrease in accounts receivable in the Fuel business and Building Material business.Current liabilities: Decreased ¥2,965 mil YoY due to decrease in accounts payable in the Fuel business and Building Material business.Net assets: Decreased ¥4,773 mil YoY due to decrease in foreign currency translation adjustment caused by the posting of net loss and decline in

the Australian dollar.

FY 2008 ― Balance Sheet (Consolidated)

△ 7,664100.045,775100.053,439Total liabilities and net assets

Capital investment +3,653, impairment loss-1,252, depreciation, sale, etc.-2,879,loss on valuation of investment securities-2,186, loan +1,377, etc.

△ 61057.926,50650.827,116Fixed assets, deferred assets

Decrease in cash and cash deposits -2,238, decrease in accounts receivable -4,328, etc.△ 7,05442.119,26949.226,323Current assets

Decrease in accounts payable-4,360, increase in short-term debt +2,757, etc.△ 2,96540.018,30939.821,275Current liabilities

△ 7,664100.045,775100.053,439Total assets

△ 2,89180.336,73574.139,626Total liabilities

Decrease in bond and long-term debt-942,revaluation and increase in deferred tax liabilities +1,283, etc.

7440.318,42534.318,351Fixed liabilities

△ 4,773

Change(Million yen)

Posting of net loss-1,251, decrease in foreign currency translation adjustment due to a sharp decline in the Australian dollar-2,623

19.79,04025.913,813Total net assets

Major changesShare（％）

Amount (Million yen)

Share（％）

Amount (Million yen)

Sept. 30, ’09Mar. 31, ’08

88

Mar. 31, ‘09

Balance of cash

(equivalents)

Payments for acquisition of fixed assets△3,772

Proceeds from sale of fixed assets ＋1,442Payments for acquisition of investment securities △ 2,608Proceeds from sale of investment securities

＋1,427Payments for loans △ 1,731

Proceeds from debt and bond ＋14,316

Repayments of debt and bond △ 12,226

Dividends paid △ 313

10,076

(Million yen)

2,188 △ 4,724

△909

8,396Income before income taxes +2,008Depreciation and impairment loss +1,888Gain on sale of investment securities△1,271Loss on valuation of investment securities

+2,186Decrease in accounts receivable +3,576Decrease in accounts payable △ 3,830Exchange loss +1,285 Payments for income tax, etc. △ 2,842

FY 2008 ― Cash Flow (Consolidated)

1,765

Highlights(Investing activities)

Extension of Liddell Coal Mine preparation plant in AustraliaInvestment in the Ikeshima Urban MineAcquisition of stock of overseas coal mine and loan to overseas coal mine

Operating activities

Investing activities

Financing activities

Exchange difference

Due to these factors, cash flows from investing activities decreased ¥4,724 mil

Mar. 31, ‘08

Balance of cash

(equivalents)

99

FY 2009 Consolidated Financial Forecast

1010

FY 2009 Consolidated Financial Forecast

In the Fuel business which is Mitsui Matsushima Group’s core business sales and earnings are expected to decrease in accordance with decline in coal prices.

Amount(Million yen)

FY 2009 Forecast

△ 2,9413,5006,441Operating profit

+3,2512,000△ 1,251Net profit

△ 1,2513,0004,251Ordinary profit

△ 60,69147,000107,691Net sales

ChangeAmount(Million yen)

FY 2008

1111

YoY

(Million yen)

FY 2008Result

FY 2009Forecast Amount

87,552 37,500

Building Material 17,226 6,000 △ 11,226

Real Estate 606 500 △ 106

Others 384 1,100 715

Eliminations ― ― ―

Total 107,691 47,000 △ 60,691

Supermarket 1,921 1,900 △ 21

Fuel △ 50,052

Amount

△ 2,9413,5006,441Total

43ー△ 43Eliminations

△ 295△ 540△ 244Others

△ 22022Real Estate

△ 264066Building Material

10△ 1Supermarket

6,642 4,000

FY 2009Forecast

△ 2,642

YoY FY 2008Result

Fuel

(Million yen)

【Net sales】 【Operating profit】

FY 2009 Consolidated Financial Forecast by Business Segment

Net sales represent sales of external customers.

HighlightsFuel business ： Both sales and operating profit are expected to decrease in accordance with decline in coal prices.Building Material business：A substantial decrease in sales is anticipated as we continue to use strict credit approval standards and eliminate underperforming products based on the outlook for a further downturn in the real estate and construction industries.Other businesses ： Expects an operating loss of ¥540 mil due to increase in depreciation burden associated with

facility operations mainly at the subsidiary Ikeshima Urban Mine.

1212

Consolidated Financial Forecast by Business Segment Breakdown of <Fuel Business>【Net sales】 【Operating profit 】

*”Others” represent Maritime Transport, Warehousing business and Coal Unloading business.

YoY

(Million yen)

FY 2008Result

FY 2009Forecast Amount

75,427 30,000

Sales volume

4.77mil tons

4.50mil tons

-0.27mil tons

Sales volume

126mil tons

140mil tons

0.14mil tons

Coal production 15,711 11,400 - 4,311

Others 2,230 1,300 - 930

Eliminations - 5,816 - 5,200 616

Fuel total 87,552 37,500 - 50,052

Coal import and sales - 45,427

Amount

- 2,6424,0006,642Fuel total

- 55055Eliminations

- 34034Others

- 2,4484,0006,448Coal production

105 0

FY 2009Forecast

-105

YoYFY 2008Result

Coal import and sales

(Million yen)

¥6,700 (FY2009)¥15,823 (FY2008)Average price of coal import and sales

¥65.00

¥100.17

A$/¥

A$ 0.72

¥90.0

US$ 109.0

US$ 82.0

FY 2009 (Jan – Dec 2009) forecast

A$ 0.8987

¥88.60

US$ 189.96

US$ 118.6

FY 2008 (Jan – Dec 2008) result

US$/A$

Semi soft coking coal

US＄/¥

Steam coal

Exchangerate

Coal price

【Major index】Effect of foreign exchange

rates on net profit

¥30mil-¥40mil increase per ¥1 lower

US$／A$

A$／¥

¥50mil-¥60mil increase

per 1¢lower in A$

1313

Future Growth Strategy

1414

0

200

400

600

800

1000

1200

1400

1600

China Japan Other parts of Asia Europe North America Others

◎ April 22, 2009 News

From the MEPS (Management Engineering & Production Services) web site

Steel industry down but not out- recovery forecast for 2010The world’s crude steel production in 2009 will be 1,200 mil tons which is lower than the previous year but it is forecasted to be approximately 1,400 mil tons in 2013. This is expected to be 100 mil tons more than the record high production in 2007. Emerging companies,including China, would lead it.

Although demand for steel will level off due to the global recession, several major iron and steel companies are planning to construct blast furnaces in India, Brazil and Southeast Asia in anticipation of social infrastructure and growth in automobile use.

There is also a possibility of constructing a power plant for ironwork.

Global demand for resources (coking coal)

Global demand for energy (thermal coal,etc.)

Key issue: Securing quality resources and energy resources

Resources and Energy Market TrendsWorld’s crude steel production forecast

(MEPS 2009.4.22)

(Million tons)

2008 result

2009 2013 (Year)

2007 result

Production volume is

forecasted to increase as the demand grows in an economic

upturn

1515

Future Growth Strategy

Concentration of management resources on the core resources and energy operations

■ Growth strategy①

Locate and develop major overseas coal mines to gain access to new sources of supply■ Growth strategy②

Aggressively develop new businesses associatedwith resources and energy operations

1616

Growth strategy①

Locate and develop major overseas coal mines to gain access to new sources of supply

Swift and agile sales activities

Ability to sell products toquality users in multi-

industries

Planning and proposal capabilities cultivated

through investing activities

Technical skills in mining cultivated in

Matsushima, Oshima and Ikeshima coal mines

Make full use of these three strengthsMake full use of these three strengthsto build the next to build the next ““Liddell coal mineLiddell coal mine””

Established MMI Coal Tech Co., Ltd. (January, 2009)・Spun-off technical sector

・100% owned by Mitsui Matsushima International Co., Ltd.

*Liddell coal mine・・・Coal mine in Australia owned by MM through JV

1717

Growth strategy②Aggressively develop new businesses associated with resources and energy operations

Plant completed in Ikeshima

New business①Start operating Ikeshima Urban Mine Co., Ltd.From Coal Mine to Urban MineApproach to eco-business which contributes to the effective use of limited resources and recycling society・Manufacturing and marketing of ferroalloy products by retrieving steel scrap and other metals

from urban waste (start operation in June 2009)・Recycling of ASR (recycling process started in January 2009)・Capital investment: Plans to be approx. ¥2,900 mil

(to FY 2009: ¥2,000 mil, FY 2010: ¥900 mil)・Estimated sales: FY 2009・・・approx. ¥800 mil,

FY 2010・・・approx. ¥1,700 mil, After FY 2011・・・approx.¥2,500 mil - ¥3,000 mil

・・・Nagasaki

Ikeshima coal mine closed in 2001

Ikeshima

1818

Growth strategy②

New business②Development and sale of safety equipment for underground coal mines

Newly developed products (International patents pending)

・800MHz Radio Communications System for underground mines (underground-surface communications, emergency assistance, etc.) *・Man Location Management System (monitors locations of workers, oversees work,

issues warnings about dangerous situations, etc.) * ・Security Gate System (Access management)

* Plan to get certification based on IECEx, an international system for the certification of electrical equipment used in explosive atmospheres. (end of June ’09)

Plan to sell to overseas coal mines (Australia, U.S., China, Vietnam, etc.)

800MHz Radio Communications System Man Location Management System Security gate System

Aggressively develop new businesses associated with resources and energy operations

1919

Appendix

2020

■Cline Mining(owns 21.1%/exclusive marketing right)New Elk Coal MineCoking coal (under development)

Resources 315 mil tons

■Liddell JV (owns 32.5%/exclusive marketing right)

Liddell Coal Mine Coking coal 30%, Thermal coal 70%

China

ABK Coal Mine (exclusive marketing right) Thermal coal production volume 2.73 mil tons (CY08)

■Straits Asia Resources (owns 0.8%/exclusive marketing right & marketing right)JMB Coal MineThermal coal production volume 5.06 mil tons (CY08)

Sebuku Coal Mine Thermal coal production volume 3.53 mil tons (CY08)

Strong coal supply sources

in the Pacific Rim region

Overseas Operation of Resources and Energy Business

CanadaRussia

U.S.

■Cline Mining (owns 21.1%/exclusive marketing right)Rossin Coal MineCoking coal, PCI (F/S stage) Reserves 14.0 mil tonsLodgepole Coal Mine PCI (F/S stage) Reserves 40.0 mil tons

■Western Canadian Coal (owns 3.8%/ exclusive marketing right)Brule Coal Mine PCI Production volume 1.17 mil tons (CY08)Wolverine Coal Mine Coking coal Production volume 1.32 mil tons(CY08)

Australia

Indonesia

2121

Organization Chart for Overseas Operation

Mitsui Matsushima (MM)

Mitsui Matsushima International (MMI) (Supervise overseas business)

Liddell Coal Mine JV

JMB Coal Mine

SebukuCoal Mine

Brule Coal Mine

Wolverine Coal Mine

【Indonesia】【Australia】【Canada】

100％

32.5％

Owns 17.9 mil shares21.1%

Owns 4.8 mil shares3.8%

Owns 8.5 mil shares0.8%

Western Canadian Coal Corp. (WCC)

Straits Asia Resources

Mitsui Matsushima Australia (MMA)

100％

Cline Mining

New Elk Coal Mine (USA, under development)

2222

Liddell Coal Mine in Australia①Operation: JV; Mitsui Matsushima Australia PTY, Ltd. 32.5%, Xstrata PLC 67.5%JORC Resource: 710 million tons

(Open-cut 456 mil tons (Reserves 91.4 million tons) Underground 254 mil tons)Productivity: 15,065 tons (cleaned coal)/person/year (’08 result)

(The productivity of the entire NSW, Australia: 13,300 tons/person/year (open-cut from 2006 – 2007))

AustraliaAustralia

CamberraSydney

Queensland

Northern

Territory

South

Australia

Western

Australia

Victoria

New SouthNew South

WalesWalesNew Castle

Liddell Liddell coal minecoal mine

港

Mitsui Matsushima Australia PTY, Ltd.

Mitsui International PTY, Ltd.

The world’s largest coal port

Good location that is only about 105km to the harbor

The Port of New Castle

2323

Liddell Coal Mine in Australia②Construction of coal preparation facility at Liddell coal mine in Australia completed in July 2008

New coal preparation plant completed in July 2008

＜Results and plans of Liddell coal mine production (raw coal)＞

Enhance load-out facilities for unit trains

Former processing capacity4 mil tons of raw coal

New plant with the maximum processing capacityIncrease to 7.5 mil tons

0

2,000

4,000

6,000

8,000

2007 result 2008 result 2009 plan 2010 plan 2011 plan

(thousand tons) The entire Liddell coal mine

Our portion

As of December 2008

4,680 4,470

6,2007,000 7,100

24240

2,000

4,000

6,000

FY 2006 FY 2007 FY 2008 FY 2009

ThermalcoalCokingcoal

Coal Import and Sales Type of Coal

(thousand tons)

0

20

40

60

80

FY 2006 FY 2007 FY 2008 FY 2009

ThermalcoalCokingcoal

(1 billion yen)

Coal sales by type of coal

Coal sales volume by type of coal

21.5

41.4

75.4

30.0(est.)

3,230

5,4904,770 4,500 (est.)

2525

Steel40%

Cement20%

General industry7%

Electricity33%

Steel53%

Electricity29%

Cement13%

General industry5%

Steel43%

Electricity43%

Cement11%

General industry3%

Steel44%

Cement19%

Electricity30%

General industry7%

Steel69%

Electricity19%

Cement9%

General industry3%

Steel53%

Cement12%

General industry2%

Electricity33%

Coal sales volume Share by customer industry

Coal Import and Sales Share by Customer Industry

FY 2006 (3,230 thounsand tons)

FY 2007 (5,490 thounsand tons)

FY 2008(4,770 thounsand tons)

Coal sales Share by customer industry

FY 2006 (¥21.5 bil) FY 2007 (¥41.4 bil) FY 2008 (¥75.4 bil) FY 2009 (¥30.0 bil) (est.)

FY 2009 (4,500 thounsand tons)

(est.)

Electricity

43%

Cement

5%

Steel

49%

General industry

3%

Steel39%

Electricity52%

Cement5%

General industry4%

These materials contain forward-looking statements. The Company makes no guarantees for the outcome of these forecasts as they include risks and uncertainties. Please note that the future outcomes may differ in accordance with the change in precondition concerning the business environment.

IR contactShinji Matsumoto, General Manager, General Affairs Dept.

Masahiko Nakamura, Manager, General Affairs Div.TEL +81-92-771-2171