This is Noji, the CFO. Thank you very much for taking time out of your busy schedule today to participate in our Fiscal Year 2022 Q3 Results Call. First, I will explain the progress of the Mid-term Corporate Strategy 2024, including the highlights of the financial results for fiscal 2022 Q3. My part will be followed by Mr. Shimazu, GM of Corporate Accounting, who will explain the details. Please refer to the page on the material entitled "Results for the 1st nine months of fiscal year 2022 presentation materials." From this quarter, we have enhanced and improved the content of our results materials and also integrated supplementary information materials with the results materials, which used to be separately posted on our website.
The contents corresponding to the conventional supplementary information materials are under supplementary information for consolidated financial statements and supplementary information by segment, but I will not be explaining them at this time. Now please turn to page three, which is numbered at the bottom right. First, I'll explain the summary of this quarter's financial results. Consolidated net income for fiscal 2022 Q3 increased by JPY 311 billion from JPY 644.8 billion in the same period last year to JPY 955.8 billion. We were able to exceed last fiscal year's full year record high profit of JPY 937.5 billion as of Q3. Additional commentary by segment will be provided later by Mr. Shimazu. In addition to the steady progress leading up to Q3, we have also felt good response in Q4.
We have revised our full year forecast upward from JPY 1,030 trillion announced in November to JPY 1,150 trillion on JPY 120 billion increase from the previous forecast. Despite headwinds such as inflationary cost increases, we recognize that profitability is steadily improving. Regarding shareholder return, we have raised our dividend forecast by JPY 25- JPY 180 per share from the November forecast, and we will implement an additional share buyback of up to JPY 100 billion. On page four, which is numbered at the bottom right, I'll provide a supplementary explanation of our progress toward the profit targets in the Mid-term Corporate Strategy 2024. Please refer to the dark blue portion of the bar graph on the bottom half of the slide.
Under Mid-term Corporate Strategy 2024 for this fiscal year's target of profit excluding price factors, we have revised up the target to JPY 730 billion, an increase of JPY 80 billion from JPY 650 billion, which was the outlook at the beginning of the year. We expect profit growth in automotive and mobility, industrial materials and other segments. We have reversed our risk buffer of JPY 40 billion by JPY 30 billion, taking into account the reduced uncertainty in the remaining period of the fiscal year. Toward achieving our goal of JPY 800 billion in fiscal year 2024, the final year of the Medium-term Management Plan, we will continue to maintain and expand our earning space and will also accelerate investment in EX, DX related and growth areas. Please refer to page five on the bottom right.
Now, I would like to explain our progress as of fiscal 22 Q3 toward the cash flow allocation plan set forth in the Mid-term Corporate Strategy 2024. Cash inflow for the period was JPY 1.5 trillion, consisting of JPY 1 trillion in cash flow from Underlying operating cash flows and JPY 0.5 trillion in cash flow from divestments. On the other hand, cash outflows included investments of JPY 0.6 trillion, resulting in an Adjusted free cash flow of JPY 0.9 trillion. Shareholder return that has been announced up until today is about a total of JPY 0.4 trillion. The difference between the total and Adjusted free cash flow of JPY 0.9 trillion will be appropriately allocated to investments in growth to enhance corporate value and additional shareholder returns while maintaining financial discipline.
Page six, please. We plan to invest approximately for the medium term under Mid-term Corporate Strategy 2024. We plan to invest approximately JPY 3 trillion over the next three year period, of which approximately JPY 0.6 trillion has been already executed. Major investments include in the area of maintenance and expansion of earning space, approximately JPY 0.4 trillion invested in Australian metallurgical coal and also related businesses, and in the EX related area, approximately JPY 0.2 trillion invested in the Quellaveco copper mine and in the Eneco related power generation business. Page seven, please. I will explain progress on the growth strategy defined as part of the Mid-term Corporate Strategy 2024. In the past nine months, in addition to the maintenance and expansion of the earning space, we had progress in the areas of EX related, DX related, and the regional community revitalization. A major progress was an acquisition of a new offshore wind power generation business in Northwestern Netherlands through Eneco during Q3.
Lastly, I will explain about shareholder returns on page eight. In line with the targeted total payout ratio of 30%-40% defined under the Mid-term Corporate Strategy 2024, we set the total return to shareholders at approximately JPY 430 billion. Taking into account financial soundness and market expectations for shareholder returns, we are increasing annual dividend to JPY 180 per share, reflecting the steady growth of earnings. We have also decided to buy back shares worth up to JPY 100 billion, which explains the difference between the dividend and the JPY 70 billion share buyback announced in November. Progress on quantitative targets is summarized on next page nine. Please refer to it later. This concludes my brief explanation. The business conditions are still unclear because of the slowdown in the world economy.
We would like to accelerate our initiatives and increase the efficiency of the asset and increase the corporate value over the mid to long term. This concludes my brief explanation. Next, Mr. Shimazu, General Manager of the Corporate Accounting, will go through details.
Hello, this is Shimazu, GM of the Corporate Accounting Department. I'd like to make a few supplementary comments on the detailed result for the 1st nine months of fiscal 2022. First, I'll explain Q3 results by segment. Please refer to page 11, shown at the bottom, right, bottom right of the document. In Q3 of this fiscal year, 7/ 10 segments reported year-on-year increases in operating income or net income. I will now explain the segments with the largest increase in profit.
Natural gas, the 1st item from the top on the left side of the slide, showed an increase of JPY 30.5 billion from the same period of the previous year, mainly due to a decrease in dividend income in the LNG-related business and an increase in equity and earnings of LNG-related businesses despite the impact of losses on transactions in the marketing business. Mineral resources. Net income increased JPY 137.1 billion year-on-year, mainly due to higher market prices in the Australian coking coal business. Moving on to the right half of the document, automotive and mobility recorded an increase of JPY 33 billion from the same period of the previous year, mainly due to increased equity in earnings of the ASEAN automobile business and Mitsubishi Motors Corporation.
Finally, urban development, which recorded gains on the sale of a real estate management company in the 1st quarter, reported an increase of JPY 86 billion from the same period of the previous year. I'd like to explain the outlook by segment. Please refer to page 12 on the lower right.
Please move on to page 12. We have revised our full year forecast upward by JPY 120 trillion from JPY 1.03 trillion announced in November to JPY 1.15 trillion. By segment, out of 10 segments, eight segments had upward revisions. Let me now explain about three with larger revisions. First, on the left-hand side of the material, the 1st item is natural gas. That revised up JPY 38 billion- JPY 170 billion due to increased earnings and dividend income from the LNG-related business. Next is industrial materials. Due to increased earnings from the North American plastic building materials as well as in the steel business, the business revised up JPY 10 billion- JPY 62 billion. Next is mineral resources.
Due to higher earnings from the Australian metallurgical coal business, the business revised up by JPY 43 billion- JPY 442 billion. Finally, please see page 13. This is a reference material on market assumptions. From this time on, in addition to actual prices of metallurgical coal, we are listing actual and forecast prices of iron ore and impact vis-à-vis the full year earnings forecast. Please refer to the details later. This concludes the presentation from the company side. With this, we would like to conclude the company's presentation.