This is Yoshiki Manabe speaking. Thank you very much for joining us for the Sojitz Corporation's earnings briefing for Q3 FY 2022. I will be referring to two documents. The one that's titled Highlights of Consolidated Financial Results for the third quarter ended December 31st, 2022, and another that also says Supplementary Material. Both have been made available on the web. Let me begin now. Let me begin with the consolidated statements of profit or loss. Revenue or top line. Metals, Mineral Resources & Recycling benefited from continued higher coal prices. The segment revenue was up JPY 106.2 billion to JPY 519 billion. Chemicals was also up by JPY 83.4 billion to JPY 481.1 billion, thanks to strength in plastic resin, rare earth, and C5 businesses.
Retail and consumer services or Retail & Consumer Service segment was up JPY 81 billion to JPY 232.9 billion, thanks to an acquisition of an aquaculture food product manufacturing company. The total revenue came to JPY 1,925.3 billion, up JPY 376.7 billion year-on-year. Gross profit increased to JPY 263.4 billion, up JPY 72.7 billion year-on-year. Metals, Mineral Resources & Recycling made a great contribution, was up JPY 35.2 billion. Retail & Consumer Service was up JPY 10.3 billion. Chemicals was up JPY 9.4 billion. Total SG&A expenses came to JPY 162.0 billion. That was an increase by JPY 31.9 billion.
There was a consolidation of newly acquired subsidiary, and a weaker yen pushed up the yen-translated amount of expenses at overseas subsidiaries. There was also increased bonus payments tied to stronger business performance. Down to other income expenses. In the first half, we booked gain on partial sale and revaluation concerning an overseas telecommunication tower operations company. In Q3, we booked gain on sale of J-REIT management company, and we're also booking losses related to copper mine interest. The total other income and expenses came to a net income of JPY 7.2 billion. For financial income and costs, we booked net interest expenses of JPY 3.6 billion. Dividends received also came down. The financial income and costs came to a net financial cost of JPY 200 million. That's a worsening of JPY 1.8 billion year-on-year.
With regard to share of profit or loss of investments accounted for using the equity method, the figure came to JPY 37.1 billion. That's up JPY 11.7 billion, thanks to steel trading company and LNG-related operations, as well as wind power operations in Europe, all increasing profit. Profit before tax increased JPY 60.5 billion year-on-year to JPY 145.5 billion. After income tax expenses, profit attributable to owners of the company, which is the line shaded in pale blue, came to JPY 108.7 billion. That's up JPY 46.7 billion year-on-year. The figure is 99% of the JPY 110 billion forecast that we produced in November. This time, we are not revising the full-year forecast for profit, and I'll come back to this later.
Moving to the right, consolidated statements of financial position. Total assets at the end of December came to JPY 2,855.6 billion. That is up JPY 193.9 billion from the end of March 2022. This includes JPY 70 billion due to weaker yen pushing up the yen-based value of foreign currency denominated assets. The real increase is JPY 120 billion, which comes from new investments, and the increase in trade and other receivables are due to the timing of transactions related to coal and fertilizers. Total liabilities came to JPY 1,964.9 billion. That's up JPY 67.1 billion from the end of March 2022. As was the case with assets, there is JPY 50 billion due to weaker yen. Down to equity.
The total equity attributable to owners of the company, which is the underlined line item, came to JPY 849.2 billion. That's up JPY 121.2 billion from the end of March 2022. Retained earnings increased by JPY 92.6 billion, thanks to profit for the period. Other components of equity increased by JPY 28.5 billion. This comes from the impact of JPY 37.5 billion of currency translation differences related to foreign operations resulting from the weaker yen. Further down, we're showing six KPIs. The third from the top is the net debt-to-equity ratio. This figure came to 0.88. That's down 0.18 from the end of March 2022.
Down to the bottom center, and let's look at cash flows. Cash flows from operating activities was a net inflow of JPY 128 billion. This mostly comes from the core operating cash flow. Cash flows from investing activities was a net outflow of JPY 46.3 billion. This is due to new investments. The resulting free cash flow was a net inflow of JPY 81.7 billion. From the core operating cash flow, adding the asset replacement impact of JPY 50 billion, less new investments of JPY 67 billion, and shareholder return of JPY 29 billion, results in a core cash flow, which came to a net cash inflow of JPY 79.5 billion.
Let's move to the second sheet where it says supplementary material. I'd like to focus on the middle part where it says, "Segment performance profit for the period." The top performer segment was Metals, Mineral Resources & Recycling segment, which enjoyed continued higher prices of coal. All segments were up year-on-year. Given the latest results, we have again revised the forecast for each segment after that revision earlier in November. Let us now look at segment by segment. For Automotive segment, the impact of semiconductor shortage was still there. Operations in the Americas were strong, and there was an impact of the weaker yen that benefited overseas automobile businesses. Q3 profit came to JPY 6.9 billion, that's larger than the full-year forecast. Given that progress, we have upward revised the full-year figure to JPY 8 billion. Aerospace and Transportation Projects.
Q3 results came to JPY 4.4 billion, thanks to earnings from aircraft related businesses and vessels. In November, we had upward revised the full-year forecast by JPY 500 million to JPY 5 billion, and this Q3 figure is in line with that, so we are maintaining that. Infrastructure & Healthcare. In November, we upward revised the full-year forecast from JPY 9 billion to JPY 12 billion, given strong first half results and the impact of the partial sale of telecommunications tower operating business. In Q3, we also had earnings from domestic and overseas power generation and LNG businesses. In Q4, we are expecting more from those lines of businesses, and that's why we have upward revised the full-year figure to JPY 17 billion.
For Metals, Mineral Resources & Recycling, in November, we upward revised the full-year forecast from JPY 51 billion to JPY 65 billion, given the strong first half results. However, we actually downward revised this figure this time to JPY 60 billion, despite strong coal market, to account for impacts of asset replacement and of lower production volumes in Australia stemming from heavy rains. For Chemicals, we upward revised the full-year figure in November from JPY 12.5 billion to JPY 17 billion. In Q3, the profit came to JPY 15.1 billion, thanks to higher prices of various chemical products and improved profitability, and we are maintaining that. For Consumer Industry & Agriculture Business, we upward revised the full-year figure in November from JPY 3 billion to JPY 6 billion.
Q3 results came to JPY 7.4 billion, that's above that forecast, and with that, we are upward revising the full-year figure to JPY 7.5 billion. For Retail & Consumer Service, we upward revised the figure from JPY 5 billion to JPY 7 billion in November, in anticipation of a one-time gain in the second half. The Q3 results came to JPY 7.5 billion, that's higher than the figure, and we have therefore upward revised the full-year figure to JPY 7.5 billion. With all that, for the seven segments, we are expecting a profit in Q4 of about JPY 20 billion. If you look at the others line, in Q3, the profit figure came to JPY 6.9 billion.
However, rising inflation and interest rates, revised plans for ongoing projects, and the impact of COVID, including delays and associated costs, have all been reassessed to be around JPY 20 billion worth. We are now factoring that in, so the new revised forecast is a loss of JPY 12 billion. While Q3 profit came to JPY 108.7 billion, which is 99% of the JPY 110 billion full-year forecast, we are maintaining this figure and not changing it. Now to the upper left, where we're showing operating results. We have also reviewed our revised forecast for each line item. For gross profit, the figure has been upward revised by JPY 5 billion from JPY 340 billion to JPY 345 billion. SG&A was at JPY 230 billion.
That's increased or improved by JPY 5 billion to JPY 225 billion. Financial income and costs was, we are expecting net cost of JPY 5 billion. That's been upward revised by JPY 4 billion to a cost of JPY 1 billion. The share of profit or loss of investment accounted for using the equity method was JPY 43 billion. We have upward revised that by JPY 6 billion to JPY 49 billion. Other income and expenses, we were expecting a net income of JPY 2 billion. That has been downward revised by JPY 20 billion to a net expense of JPY 18 billion. Down, we are showing financial positions.
We are revising the figures reflecting new investments, asset replacement, and the assumed exchange rate of 130 JPY to the USD, and those are the new figures reflecting all that. This concludes my presentation. Thank you very much for your kind attention.