Thank you. This is Hachimura, CFO. Thank you very much for taking the time out of your busy schedule, and especially on the day when the market was so volatile. At 3:00 P.M. today, we made multiple announcements, and Q1 business results were the first part, and at the same time, we made announcements about one hundred and fifty billion yen share buyback, and also tender offer for shares in C.I. Takiron and Descente. So I'd like to go through all of them. First, starting with page 3 of the material that you have in front of you. Q1 results, the net profit was JPY 206.6 billion. Last year, it was JPY 213.2 billion. So compared to that, it's down by JPY 6.6 billion. Last year, there was a major extraordinary gains and losses.
And extraordinary gains and losses are down this time by JPY 18.5 billion. So core profit increased by JPY 12 billion year-on-year. Also, the core profit changed from JPY 190 billion to JPY 202 billion this quarter. So this is the growth of 6.3%. At the beginning of the fiscal year, we said that we aim for 10% growth, and half of that comes from the organic growth, and the remaining is the additional, including the new investments. And of course, that the new investment part will not appear in Q1. So about 6% growth rate is within the expectations that we had. As for the progress, compared to our forecast of JPY 880 billion, was 23%.
It appears a little bit low, but JPY 880 billion is not evenly spread, so we are above the budget level, so we made a good start. We made announcement of two TOBs. The total of the investment is JPY 220 billion. First quarter gross investment appears a little bit low, but this is due to the timing difference of the cash out. We said that no growth without investment, and we have had the full discussion, and we are making preparation for the execution.
About the JPY 150 billion buyback of our shares, at the beginning of the fiscal year ending 2025, we mentioned that the cash allocation will be split, half for the shareholder return and half for the growth investments, and to achieve the total shareholder return of 50%, so 200 yen per share or 30% dividend payout ratio, either of the higher ones. JPY 150 billion buyback. Concerning this, as we discussed today, we have been having the discussion about the TOB, and we, of course, needed to avoid violating the insider trading regulations. Now, since we made these announcements of the TOB, we wanted to announce the JPY 150 billion buyback at the early timing.
In Q2 and onwards, it's possible that we once again have the timing to potentially violate the insider trading regulations, so we wanted to avoid that. Toward the end of the fiscal year, we will be executing this buyback. As for the business results, Yamaura will explain the details by each segment, but overall trend is not so different from the Q4 trend of the previous year. CITIC profit growth, as well as the improvement of the performance of the CPP, although it is in red still, the machinery, food, ICT, and financial business, and The 8th Company, the non-resource businesses did well. While the metals and minerals and energy showed some weakness. General products and realty, the ITOCHU Fibre Limited, still has some red figure, which will be explained later.
But about the resource, businesses, there are some difficulties remaining. And as for the, segment, the information, I would ask Mr. Yamaura to give you the details.
Thank you. I am General Manager of Accounting. My name is Yamaura. I would like to go through the net profit by segment. Please go to page four. Also, pages, 12 to 20, give you the details of each segment. Starting with the textile company. Q1 results were JPY 5.3 billion, up JPY 0.6 billion. The strength continues. Apparel-related companies were strong in Japan and abroad, especially in Hong Kong and China. Machinery, JPY 34 billion, up JPY 2.4 billion. This is the record high number. There was an extraordinary gain on the Australian infrastructure company, JPY 2 billion and excluding that, the core profit was up by JPY 400 million.
Yanase and auto-related, especially and also the leasing-related, especially the aerospace transactions were strong. As for North American electric power-related business, the profitability deteriorated. Metals and minerals, the results were JPY 52.5 billion, down by JPY 3.7 billion. In Australia, EMEA, the prices of the iron ore and coal decreased, but with the weaker yen, the profit increased by JPY 700 million. The trading, ITOCHU Metals, nonferrous-related transaction and companies were strong. Marubeni-Itochu Steel earnings were down, deterioration in profitability of North American business, and as a company as a whole, it was down by JPY 3.7 billion.
Energy and chemicals results were JPY 17.8 billion, down JPY 19.6 billion. The extraordinary gains last year was JPY 18.5 billion. In terms of core profit, it was down by JPY 1.1 billion. In chemicals, the profit increased by JPY 2.7 billion, but energy and trading deteriorated, and as a whole, the results came down.
As for food, the results were ¥19 billion, down by ¥1.8 billion year-on-year. Excluding the extraordinary gain, core profit increased by ¥1.7 billion. Food distribution-related companies, such as Nippon Access, were strong, and the meat product-related company, Hy Life in North America, improvement was observed, which were the driver. As for the general products and realty, the results was ¥18.8 billion, up by ¥1.4 billion. The core profit was about the same as the previous year. As mentioned, the earnings of IFL, the European pulp-related company, was lower, resulting from the higher material cost. Daiken was converted into the consolidated subsidiary, and its equity stake increased, and domestic business were strong. Also, the real estate sales of the ITOCHU Property Development was also strong. ICT and financial business, the results was ¥16 billion, up by ¥1.6 billion. The strength continues.
CTC, there was an increased stake, and the transactions were strong. The performance was strong. And also overseas, retail finance-related companies and mobile phone-related companies, lower earnings were offset. CTC's Q1 results was JPY 10.9 billion, up by JPY 0.3 billion. Despite the higher cost, FamilyMart daily sales increased, resulting from the enhancement of product appeal and sales promotion, and its profit increased by JPY 700 million. Others, adjustment and eliminations improved by JPY 12.2 billion year-on-year. Concerning CPP, there was an improvement of the market conditions in Vietnam and the lower feed cost. This was a JPY 3.4 billion improvement, and CITIC Limited profit also increased by JPY 6.7 billion. Now, going to page 5 shows the core profit trend.
As a whole, the core profit increased by JPY 12 billion, JPY 15 billion Forex, down JPY 1.1 billion in interest and JPY 4.5 billion in resource prices, and net was JPY 2.5 billion. As for the Forex impact, on page 10, if you look at the assumptions, in Q1, the average was 155.85 yen to the dollar. The yen has weakened by 21.2 yen. On the after-tax profit, the impact was JPY 15 billion, especially the impact was big in metals and minerals and machinery. As for the extraordinary gains and losses, the total was JPY 4.5 billion, small impact, unlike last year's major extraordinary gains and losses. Next is cash flows, The 8th, and general products and realty. Already we talked about the sale of the condominiums by ITOCHU Property Development and operating revenue increasing, and also the dividend from equity pick-up in the metals and minerals.
The cash flow from operating activities was 207.8 billion JPY. The core operating cash flow was a record high at 238.8 billion JPY, 66 billion JPY increase. Going to page 21, investments. This shows last year's results and this year's results. In Q1, total major new investments were 118 billion JPY. The major one is shown at the top. In consumer-related sector, the investment in WE CARS, 18.8 billion JPY. In basic industry-related sector, the investments in a North American electric power-related company and energy from waste project company, this is a little less than 20 billion JPY, environment related. Others are CapEx related. The new investments, 118 billion JPY. As for exit, 20 billion JPY, we did not have a major sale of assets this time.
The net investment amount is JPY 98 billion. If you only look at this number, you might think that the investment amount is small, but as we announced, we have two TOBs, which amount to JPY 220 billion. So if you add that up, that would be JPY 330 billion, and we are making steady progress in investments. Concerning the group companies, out of 264 companies, on page 25, the percentage of the profit-making company is 84.5%. Usually, the number in Q1 is low, and of course, we try to achieve 90% throughout the year. What is not written here is that, compared to last year, 160 companies increased their profit in Q1, and also 181 companies had higher numbers than the plan.
Those companies are growing steadily in their profits. With that, I'd like to end my presentation. Thank you very much for your attention.