2024-04-05 07:28:25 ET
Summary
- Itochu Corporation pre-announced the FY 2025 plan, featuring increased profits, dividends, and buybacks.
- The company is shifting its focus to more consumer-facing businesses and increasing capital spending and investments to drive growth.
- Itochu's premium valuation may widen further if the market responds positively to the details of its growth plan.
Underperformance, Then A Big Surprise
Itochu Corporation (ITOCY) (ITOCF) positively surprised the market when it preannounced some details about the FY 2025 Management Plan . Since I last covered Itochu in February 2024, downgrading it to Hold, the stock has been the worst performer of the 5 major Japanese trading companies. Even the 7% pop following the plan announcement was not enough to get the stock back to even since my downgrade....
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For further details see:
Itochu: Growth Plan Deserves An Upgrade