Annual Securities Report for the fiscal year ended March 31, 2011 Certain References and Information This report is prepared for overseas investors and compiled based on contents of the Annual Securities Report (“Yukashoken Hokokusho”) of Mitsui & Co., Ltd. filed with the Chief of the Kanto Local Finance Bureau of the Ministry of Finance of Japan on June 24, 2011. As used in this report, “Mitsui” is used to refer to Mitsui & Co., Ltd. (Mitsui Bussan Kabushiki Kaisha), “we”, “us”, and “our” are used to indicate Mitsui & Co., Ltd. and subsidiaries, unless otherwise indicated. “Share” means one share of Mitsui’s common stock, “ADS” means an American Depositary Share representing 20 shares, and “ADR” means an American Depositary Receipt evidencing one or more ADSs. Also, “dollar” or “$” means the lawful currency of the United States of America, and “yen” or “¥” means the lawful currency of Japan. All financial statements and information contained in this report have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP except where otherwise noted. A Cautionary Note on Forward-Looking Statements This report includes forward-looking statements based on our current expectations, assumptions, estimates and projections about our business, our industry and capital markets around the world. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “expect”, “anticipate”, “estimate”, “plan” or similar words. The forward-looking statements in this report are subject to various risks, uncertainties and assumptions. These statements discuss future expectations, identify strategies, contain projections of results of operations or of our financial position, or state other forward-looking information. Known and unknown risks, uncertainties and other factors could cause our actual operating results to differ materially from those contained or implied in any forward-looking statement. Our expectations expressed in these forward-looking statements may not turn out to be correct, and our actual results could materially differ from and be worse than our expectations. Important risks and factors that could cause our actual results to differ materially from our expectations are discussed in “2. Operating and Financial Review and Prospects, 4. Risk Factors” or elsewhere in this report and include, without limitation: • changes in economic conditions that may lead to unforeseen developments in markets for products handled by us; • fluctuations in currency exchange rates that may cause unexpected deterioration in the value of transactions; • adverse political developments in the various jurisdictions where we operate, which among things, may create delays or postponements of transactions and projects; • changes in laws, regulations or policies in any of the countries where we conduct our operations; and • significant changes in the competitive environment. We do not assume, and specifically disclaim, any obligation to update any forward-looking statements which speak only as of the date made. CONTENTS Page 1. Overview of Mitsui and Its Subsidiaries............................................................................................................. 1 1. Selected Financial Data...................................................................................................................................... 1 2. History ............................................................................................................................................................... 2 3. Business Overview............................................................................................................................................. 3 4. Affiliated Companies ....................................................................................................................................... 31 5. Employees........................................................................................................................................................ 39 2. Operating and Financial Review and Prospects .............................................................................................. 40 1. Overview of Business Results.......................................................................................................................... 40 2. Purchases, Sales Contracts and Trading Transactions...................................................................................... 40 3. Management Issues.......................................................................................................................................... 41 4. Risk Factors ..................................................................................................................................................... 51 5. Material Contracts............................................................................................................................................ 60 6. Research & Development ................................................................................................................................ 60 7. Management’s Discussion and Analysis of Financial Position, Operating Results and Cash Flows ............... 61 (1) Key Performance Measures under Management’s Discussion..................................................................... 61 (2) Summary of Consolidated Financial Results for the Year Ended March 31, 2011....................................... 62 (3) Discussion and Analysis of Operating Results for the Years Ended March 31, 2011 and 2010................... 64 (4) Liquidity and Capital Resources .................................................................................................................. 93 (5) Critical Accounting Policies and Estimates................................................................................................ 103 (6) Others ......................................................................................................................................................... 108 3. Equipment and Facilities ................................................................................................................................. 114 1. Overview of Capital Expenditures ................................................................................................................. 114 2. Major Equipment and Facilities..................................................................................................................... 115 3. Plans for New Additions or Disposals............................................................................................................ 118 4. Corporate Information..................................................................................................................................... 119 1. Status on the Mitsui’s Shares ......................................................................................................................... 119 (1) Total Number of Shares and Other Related Information............................................................................119 (2) Status of the Share Subscription Rights ..................................................................................................... 119 (3) Exercise status of Bonds with Share Subscription Rights Containing a Clause for Exercise Price Adjustment ................................................................................................................................................. 119 (4) Right Plans ................................................................................................................................................. 119 (5) Trends in the Number of Shares Issued, Amount of Common Stock, and Others...................................... 119 (6) Status of Shareholders................................................................................................................................ 120 (7) Status of Major Shareholders ..................................................................................................................... 120 (8) Status of Voting Rights............................................................................................................................... 121 (9) Stock Option Plans ..................................................................................................................................... 122 2. Acquisition of Treasury Stock and Other related Status................................................................................. 122 3. Dividend Policy ............................................................................................................................................. 123 4. Trends in the Market Price of the Mitsui’s Shares ......................................................................................... 124 5. Members of the Board of Directors and Statutory Auditors........................................................................... 125 6. Corporate Governance ................................................................................................................................... 134 5. Financial Information ...................................................................................................................................... 155 1. Consolidated Financial Statements ...............................................................................................................