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Market Chatter: Itochu to Invest in Approximately 10 Data Centers in Japan

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Itochu (TYO:8001) will allocate several hundred billion yen for the construction of around 10 data center facilities across Japan by 2030, leasing them to tech firms before selling them later to third parties, Nikkei Asia reported Thursday.

The data centers, which will be located in areas such as the Tokyo metropolitan area, the greater Osaka region and Kyushu, will have about 50 megawatts each of power capacities and will be part of the trading house's real estate segment.

Shares of the company rose more than 3% in Friday's afternoon trading.

Itochu did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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