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Japanese sogo shosha strong in textiles/apparel and food (owns FamilyMart), plus ICT and general trading.
Japanese sogo shosha strong in textiles/apparel and food (owns FamilyMart), plus ICT and general trading.
Earns from trading margins and commissions plus its share of profit from companies it owns stakes in, rather than from one product. It has tilted toward consumer businesses rather than resources: it took FamilyMart fully in-house in 2020 and has a long-standing alliance with CITIC of China and Thailand's CP group.
In one line: A Japanese conglomerate merchant-bank-meets-7-Eleven-owner.
Moat: narrow (scale, distribution, brand). Deep non-resource trading networks and FamilyMart's retail footprint differentiate it from resource-heavy trading peers.
Headquarters: Tokyo, Japan · Founded: 1858 · Employees: 114,570
Size Itochu (8001.T) is a Japan Industrials company (Food Distributors) with a market value of $111B, the 11th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,241 on 6 Nov 2026.
Performance Over six months the shares gained 15.6%, against -16.6% for the median peer and +1.8% for the Japan market (cap-weighted) — highest of 13 in its peer set.
Growth Revenue grew 5.6% over the last twelve months (peer median +12.6%); the operating margin is 4.9% (peer median 9.0%).
Valuation It trades at 15.8× forward earnings against a peer median of 14.6× (6th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.8 points below its cost of capital (7.1% WACC).
Credit Itochu has 1 bond outstanding ($750M), rated A by the agencies and trading like BBB+ at a weighted spread of 62 bp.
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥15.5T | ¥14.8T | ¥14.7T | ¥14.0T | ¥14.0T |
| Revenue growth | — | +1% | +5% | +1% | — |
| Gross profit | ¥2.59T | ¥2.17T | ¥2.07T | ¥1.95T | ¥1.86T |
| EBITDA | ¥1.23T | ¥1.16T | ¥1.13T | ¥1.13T | ¥1.12T |
| Net income | ¥980B | ¥900B | ¥880B | ¥802B | ¥801B |
| Free cash flow | ¥536B | ¥847B | ¥770B | ¥776B | ¥744B |
| Capital expenditure | ¥280B | ¥285B | ¥227B | ¥203B | ¥194B |
| Total debt | ¥5.26T | ¥4.76T | ¥4.62T | ¥4.40T | ¥4.01T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Itochu 8001.T | $111B | +16% | +6% | 5% | 15.8× | 18.1% |
| Mitsubishi 8058.T | $105B | -1% | +16% | 3% | 14.8× | 18.8% |
| Mitsui & 8031.T | $82.4B | -22% | +10% | 3% | 12.7× | n/a |
| Marubeni 8002.T | $49.7B | -22% | +14% | 4% | 12.3× | 17.7% |
| Sumitomo 8053.T | $47.7B | +9% | +6% | 5% | 11.3× | 15.2% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8001.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.7% | -15.1% | 3rd highest of 13 |
| 6-month return | +15.6% | -16.6% | highest of 13 |
| Distance from 52-week high | -7.3% | -25.9% | highest of 13 |
| Revenue growth (TTM) | +5.6% | +12.6% | 3rd lowest of 13 |
| Operating margin | 4.9% | 9.0% | 4th lowest of 13 |
| Forward P/E | 15.8× | 14.6× | 6th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 18.1% | 13.2% | 3rd most demanding of 12 |
| Growth delivered (Del g) | +7.5% | +9.2% | 5th lowest of 12 |
| Hurdle (Req g minus delivered) | +10.7 pp | +5.7 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | -2.8 pp | -0.5 pp | 5th lowest of 13 |
| EV / EBITDA | 18.3× | 14.4× | 5th most expensive of 13 |
| Net debt / EBITDA | 3.8× | 1.0× | 4th most indebted of 13 |
| Bond spread | 62 bp | 80 bp | tightest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Itochu 8001.T | Japan | $111B | +16% | +6% | 5% | 15.8× | 18.1% | +7.5% |
| Mitsubishi 8058.T | Japan | $105B | -1% | +16% | 3% | 14.8× | 18.8% | +8.0% |
| Hitachi 6501.T | Japan | $130B | -7% | +14% | 12% | 20.9× | 9.5% | +3.9% |
| Mitsui & 8031.T | Japan | $82.4B | -22% | +10% | 3% | 12.7× | n/a | n/a |
| Mitsubishi Heavy Industries 7011.T | Japan | $62.1B | -37% | -3% | 10% | 22.3× | 9.0% | +6.1% |
| Mitsubishi Electric 6503.T | Japan | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% | +7.1% |
| Marubeni 8002.T | Japan | $49.7B | -22% | +14% | 4% | 12.3× | 17.7% | +5.5% |
| Sumitomo 8053.T | Japan | $47.7B | +9% | +6% | 5% | 11.3× | 15.2% | +9.5% |
| Daikin Industries 6367.T | Japan | $40.4B | -1% | +11% | 8% | 21.8× | 7.4% | +15.0% |
| Toyota Tsusho 8015.T | Japan | $36.8B | +2% | +25% | 5% | 13.0× | 9.8% | +12.9% |
| Fujikura 5803.T | Japan | $33.0B | -50% | +28% | 19% | 14.3× | 28.9% | +12.9% |
| Komatsu 6301.T | Japan | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% | +13.6% |
| Fanuc 6954.T | Japan | $31.2B | -23% | +13% | 23% | 22.0× | 16.9% | +9.2% |
Itochu has 1 bond outstanding with $750M face value. The agencies rate it A; its bonds trade like BBB+. Weighted yield 5.17%, a spread of 62 bp over government bonds.