Tokyo — Japan’s trading house Itochu Corporation reported a record net profit for the first nine months of the fiscal year, underscoring the growing strength of its consumer-focused businesses and its shift away from heavy reliance on natural resources.

The company said net profit for the April–December period reached 705.3 billion yen, an increase of about 4% from a year earlier and the highest nine-month result in Itochu’s history.

Consumer Businesses Drive Growth

Strong performance in food, textiles and retail operations was the main driver of earnings growth. The food division delivered particularly robust results, benefiting from higher banana production and steady demand for packaged foods. Consumer-related operations have become a core pillar of Itochu’s strategy as global commodity markets remain volatile.

Company executives noted that core profit from non-resource businesses hit a record level, highlighting the resilience of consumer demand and the success of investments in everyday-use products and services.

Mixed Results in Resource Segments

While consumer businesses performed well, some resource-related segments lagged. Turnaround efforts at coking coal operations in the United States and Australia progressed more slowly than expected, weighing on overall resource earnings. Management said improvements are expected to materialize in the next fiscal year.

Shareholder Returns and Outlook

Reflecting confidence in its financial position, Itochu announced an additional share buyback of up to 20 billion yen, on top of an already approved repurchase program. The company said its total shareholder payout ratio is expected to exceed 50% for the current fiscal year.

Despite the record nine-month performance, Itochu maintained its full-year net profit forecast at 900 billion yen, citing uncertainty in global markets and resource prices.

Market Confidence

Investors welcomed the results, viewing them as further evidence that Itochu’s consumer-oriented strategy is helping stabilize earnings and reduce exposure to cyclical commodity swings. The company’s focus on steady, demand-driven businesses continues to set it apart among Japan’s major trading houses.