Itochu Corporation reported consolidated net profit for the first quarter of the fiscal year ending March 2027, rising 3.5% year-on-year to 293.7 billion yen, marking a record high for the first quarter for the second consecutive year. The machinery, metals, and energy and chemicals segments drove the growth. The company maintained its full-year consolidated net profit forecast of 950 billion yen, up 5.5% from the previous year, but this fell short of the average estimate of 963.6 billion yen from 13 analysts polled by IBES. Itochu also resolved to buy back up to 190 million shares, representing 2.7% of outstanding shares, for a maximum of 300 billion yen, with the repurchase period running from August 4 to January 29, 2027.
Itochu CorporationRecord Q1 profit and share buyback announced, though full-year forecast slightly below consensus.