This is Masa, the CFO. Thank you very much for taking time out of your busy schedule to attend our financial results briefing for the third quarter of FY2021. I would like to start with a high level overview of the results, and then it will be followed by a detailed pre-explanation by Mr. Nojima, General Manager of Corporate Accounting. On page one, I would like to highlight three key points. First, consolidated net income for the third quarter of FY2021 increased by JPY 475.7 billion year-on-year to JPY 644.8 billion. Second, we have further revised up our full-year earnings guidance from JPY 740 billion, which is what we announced in November, to JPY 820 billion.
Last but not least, in view of the upward revision, we will consider additional shareholder returns, and the details will be shared when we announce the full-year results. I would now like to explain the year-on-year fluctuations, so please refer to the box on the lower left. In the same period last year, our financial results were heavily affected by COVID-19, such as falling resource prices and declining demand. However, with the subsequent resumption of global economic activities in areas including auto-related business, salmon farming, and steel products business, we steadily converted profit opportunities into actual profit. We also benefited from solid resource prices such as metallurgical coal, copper, and iron ore. As a result, the consolidated net income for the third quarter increased by JPY 475.7 billion year-on-year, surpassing the previous record high full-year income just in the first nine months of the year.
This was also the highest quarterly profit ever recorded by the company. Next, I'd like to explain the earnings forecast for the year and the shareholder returns. Please refer to the box at the bottom right. We have decided to revise our full-year forecast again from JPY 740 billion announced in November to JPY 820 billion, an increase of JPY 80 billion. The upward revision is based on the better-than-expected progress in each business segment, including salmon farming and auto-related business, as well as recent trends in resource prices. The revised forecast of JPY 820 billion incorporates all possible downside risks and is therefore considered to be a forecast with high conviction. In addition, based on this upward revision, we will consider additional returns to shareholders, and we'll share the details at the time of the full-year results announcement.
The specific method of shareholder returns. It will be determined comprehensively, including share buyback option. In summary, we have maintained strong performance in a wide range of fields as in the first half. With accumulated profit in each business, we have exceeded the past record high full-year profit just in the first nine months of the year. We view the performance as strong results. On the other hand, we believe that the favorable business environment for the current fiscal year will not last forever and that ups and downs are bound to occur. For this reason, we will not be swayed by the good results of a single year, but will continue to work steadily on the tasks at hand, such as strengthening the functions of each business and reshuffling assets in order to enhance profitability and corporate value.
This will conclude my presentation on the overview of the results. Now, Mr. Yoshiyuki Nojima from Corporate Accounting will provide a detailed explanation focusing on the status by segment.
I'm Noji speaking. From my side, I would like to give you some follow-ups. By segment, for the third quarter results, I would like to explain about that. Please turn to page two. For the third quarter results, out of the ten segments, all of the segments has increased the income compared to previous year. For Natural Gas, year-over-year from JPY 16.6 billion, has increased by JPY 68.5 billion to JPY 85.1 billion. This is due to the LNG-related business. The dividend income has increased. In terms of the energy-related business and the North American shale gas business, there was increase in earnings.
In terms of the iron ore business and the North American plastic building materials business has improved in the plastic building materials business, Industrial Materials, it increased from JPY 1.2 billion by JPY 3.7 billion to JPY 31.9 billion. For Petroleum & Chemicals Solution, LPG-related business and the chemicals business has increased earnings in terms of equity holdings and increased income as well. In terms of the Mineral Resources, the Australian metallurgical coal business, increase in market prices has contributed, and the copper business, the dividend income has increased. For the iron ore business, that has been increased earnings in terms of equity holdings. Compared to previous year's JPY 64.8 billion, it has increased by JPY 193.2 billion, ending at JPY 248 billion.
Going to the right-hand side of the presentation, for the Automotive & Mobility, there have been losses related to the Mitsubishi Motors in the previous year. There have been one-off losses, and there has been an increase from that. Mitsubishi Motors and the Asian automotive business, there has been an increase in equity holdings. There was a JPY 8.7 billion deficit last year, but it has increased by JPY 94.5 billion, and then the income was at profit was JPY 85.8 billion. The salmon farming business has improved earnings for the Food Industry overall. Last year was JPY 30.23 billion, but we saw an increase of profit by JPY 39 billion and ended at JPY 71.3 billion.
For the Consumer Industry, compared to the previous year, the convenience store business and the Thai-related business has seen increased earnings. Lastly, going to the Urban Development business. The increase in fund evaluation profit and the disposal gains from real estate development business contributed despite the impairment losses on the sales of the aircraft leasing company. Last year was JPY 10.9 billion, but this year it has increased by JPY 94 billion and ended at JPY 30.3 billion. Next, going to page 3. This is about the cash flow status. Going to the right-hand side of the bar graph at 2021 third quarter, please look at the cash flow situation. The gray, the underlying operating cash flows, JPY 848.2 billion of cash in. The orange investing cash flows is JPY 180.4 billion is cash out.
As a result, the adjusted free cash flow is 667.8 billion of adjusted free cash flows. The breakdown of investing cash flows is on the lower right. Please look at the orange color boxes. In terms of the cash out for the copper business, Australian metallurgical coal business, energy-related business, we have conducted investments and loans. This was JPY 533.5 billion in terms of cash ins for the North American real estate business and the North American shale business with collective investment, JPY 353.1 billion. Investing cash flows on net basis, JPY 180.4 billion of cash out was seen. Please go to page four.
As we explained at the beginning of the presentation, the full year forecast in November, against that revised forecast, we have further revised it upwards by JPY 80 billion to JPY 820 billion. By segment, out of 10 segments, at 7 segments, we are conducting the upwards revision. Natural Gas, Industrial Materials, Petroleum & Chemicals Solution, Mineral Resources, Automotive & Mobility, Food Industry, Urban Development, and the seven segments. Since 2018, it is going to have a record high level of the earnings since we have started to report in this segment. I would like to focus on the four segments where there has been a more upward revisions. For the Natural Gas, we have an increased earnings and transaction profits in the LNG-related business.
We have raised this upwards from the November numbers by JPY 10 billion and JPY 102 billion will be the outlook. Going to the Mineral Resources, in the copper business, increased dividend income is expected. In the iron ore business, the earnings is going to increase based on this situation. JPY 60 billion of upward revision is going to be conducted, ending at JPY 356 billion forecast. Going to the right-hand side of the presentation, on the very top we have Automotive & Mobility. In the Asian automotive business, we are going to see an increased earnings. This will be a JPY 12 billion of upward revision and JPY 100 billion will be the forecast for this segment. Lastly, going to the Food Industry. With the salmon farming business, increased earnings will be seen.
This will be a JPY 19 billion upward revision and JPY 79 billion will be the revised forecast for this segment. Going to page 5, this will be the market conditions for our forecast. Please refer to this. That ends my presentation. Thank you very much.