Itochu: Growth Plan Deserves An Upgrade [Seeking Alpha]
ITOCHU CORP UNSP/ADR (ITOCY)
NASDAQ:AMEX Investor Relations:
itochu.co.jp/en/ir/index.html
Company Research
Source: Seeking Alpha
The company is shifting its focus to more consumer-facing businesses and increasing capital spending and investments to drive growth. Itochu's premium valuation may widen further if the market responds positively to the details of its growth plan. Underperformance, Then A Big Surprise Itochu Corporation ( OTCPK:ITOCY OTCPK:ITOCF ) positively surprised the market when it preannounced some details about the FY 2025 Management Plan . Since I last covered Itochu in February 2024, downgrading it to Hold, the stock has been the worst performer of the 5 major Japanese trading companies. Even the 7% pop following the plan announcement was not enough to get the stock back to even since my downgrade. I normally wait for the fiscal year-end results announcement in May to cover Itochu, but the FY 2025 Plan recently released is a big enough positive change to the outlook to warrant an upgrade at this time. As far as the FY 2024 results, I don't expect much change from the forecast in my l
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News
- Japan's Itochu in Talks to Buy LNG From British Columbia Project [Financial Post (Toronto, Ontario, Canada)]Financial Post
- NJ may pull public investments from Japanese company for cutting ties with Israeli defense contractor [Yahoo! Finance]Yahoo! Finance
- Japan may introduce tax breaks to spur repatriation into yen, Sankei reports [Reuters]Reuters
- Shohei Ohtani Signs Global Partnership with ITO EN's Green Tea Brand "Oi Ocha" [Yahoo! Finance]Yahoo! Finance
- Chocoholics in Japan Set for Sticker Shock After Cocoa Surge [Yahoo! Finance Canada]Yahoo! Finance Canada