Itochu's First Half Net Profit Rises 6% to $2.9 Billion

Japanese trading company Itochu announced a 6% increase in its net profit for the first half of the fiscal year ending in September, rising to 438.4 billion yen (2.9 billion dollars). This growth was driven by strong performance in non-resource sectors, particularly in food and the FamilyMart convenience store chain. This expansion demonstrates the company’s successful diversification beyond resource-based industries.

The Tokyo-based conglomerate, which manages various businesses, maintained its net profit forecast of 880 billion yen for the fiscal year ending in March. The stable financial outlook reflects confidence in the company’s diversified business model and its ability to navigate market conditions.

Itochu's financial results highlight the strategic benefits of its investments in consumer-related businesses like FamilyMart, which significantly contributed to profit growth. With a strong portfolio spanning multiple sectors, Itochu is well-positioned to sustain its trajectory of financial success.

The exchange rate used for financial results was specified as 153.9900 yen to 1 dollar.