-- Itochu (TYO:8001) will allocate 1.5 trillion yen for the improvement of its market capitalization and the maintenance of its leading position among trading companies in Japan, Nikkei Asia reported Tuesday.
Chairman and CEO Masahiro Okafuji said the company is on track to claim the "triple crown" among the country's trading houses after reaching record profit for the second consecutive year, according to the report.
A trading house achieves "triple crown" after ranking first across net profit, market return on equity, and market capitalization, the report said.
The company's profit attributable to owners of the parent grew 2.3% annually to about 900.3 billion yen in fiscal year 2025, which the report said is the largest in the sector.
The company also posted the highest return on equity at 14.6%, the report said.
The increased investment plan looks to regain the market capitalization lead that the company had earlier this year, and which it had lost to Mitsui & Co. (TYO:8031) and Mitsubishi (TYO:8058), according to the report.
(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.)