Itochu Corporation (伊藤忠商事株式会社, Itōchū Shōji Kabushiki-gaisha, known in English as C. Itoh & Co. until 1992) is a Japanese corporation based in Umeda, Kita-ku, Osaka and Aoyama, Minato, Tokyo.
It is one of the largest Japanese sogo shosha (general trading companies). Among Japanese trading companies, it is distinguished by not being descended from a historical zaibatsu group, but by the strength of its textile business and its successful business operations in China.[3] It has seven major operational divisions specializing in textiles, metals/minerals, food, machinery, energy/chemicals, general products/real estate, and ICT/financial business.[4] Itochu was ranked 72nd on the 2020 list of Fortune Global 500 companies, with an annual trading revenue of US$100 billion.[5]
Itochu has been one of the most popular employers for graduates of top Japanese universities for over thirty years due to their high pay levels, stability and the diversity of opportunities available to employees.[6] In 2019 and 2020, Itochu was ranked the most popular employer for college graduates.[7]
Business overview
Itochu’s business is organized into six “companies.”
Textiles: Itochu trades in raw materials and finished apparel, and also has a brand business.[34] It owns a portfolio of investments and rights in well-known fashion brands including Converse, Hunting World, LeSportsac, Mila Schön and Paul Smith. In 2018, Itochu acquired the Japanese Master License and exclusive distribution rights for the Laura Ashley brand.[35]
Machinery: Includes plant projects, marine, aerospace, automotive, construction/industrial machinery and healthcare.[36] In the automotive sector, Itochu is a partner in the Yanase imported car dealership and partnered with Mazda and EnerDel to produce a solar-charged Mazda2. In the infrastructure sector, Itochu partnered with Toshiba and Hitachi to supply infrastructure for the first expressway in Vietnam, the North–South Expressway between Hanoi and Ho Chi Minh City.[37] Itochu is also a partner in supplying rolling stock for the MTR in Hong Kong[38] and for New Generation Rollingstock passenger rail in Queensland, Australia.[39] It is a minority investor in the Sarulla geothermal power project in Indonesia[40] and has partnered with Mitsubishi Heavy Industries and Engie to develop the $15.8 billion Sinop Nuclear Power Plant in Sinop, Turkey.[41]
Metals and minerals: Engages in mining and ore trading, steel and non-ferrous metal trading, coal and nuclear fuel trading and solar power.[42]
Energy and chemicals: Trades in oil and gas and a wide range of chemical products such as methanol, PTA and fertilizers.[43]
Food: Handles production, processing and distribution of various foodstuffs.[44] Two major group businesses are FamilyMart, acquired from Seiyu in 1998,[45] and Dole Food Company, which sold its worldwide packaged foods and Asia fresh produce businesses to Itochu for $1.7 billion in cash.[46] Itochu is also a strategic partner of COFCO in China[47] and owns an export grain terminal in Longview, Washington.[48]
ICT, general products and realty: The sixth company handles a variety of business lines including real estate development, logistics, insurance, forest products and information technology. Group companies include Itochu Techno-Solutions (CTC), Excite Japan and Century 21 Japan.[49]