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Stock

ITOCHU Corporation

8001.T
43
Conglomerates · Industrials
Price
¥2370.00
+47.50 (+2.05%)
Market Cap
¥16.57T
Exchange
Tokyo Stock Exchange
Winston Score
43
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 17, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
Growth
Mixed
Cash Flow
Good
Stability
Good
Valuation
Strong
Dividends
Weak

Share count falling — buybacks

5.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 7.42B (2022) → 7.03B (2026)

§Winston Score History

The full picture

ITOCHU Corporation operates as a global trading house, managing a diverse portfolio of import, export, and multifaceted business operations across the world. Its Textile segment manufactures and supplies various fiber and garment materials, fabrics, finished apparel, and industrial textiles. It also imports and distributes lifestyle brands, fashion accessories, and clothing across luxury, casual, and sports categories. The Machinery division offers comprehensive engineering, procurement, and construction (EPC) services. It further develops and operates large-scale projects in areas such as water, environmental infrastructure, renewable energy, oil & gas, petrochemicals, and independent power production facilities. The segment also handles the sale and leasing of aircraft and associated equipment, alongside distributing automobiles, construction machinery, electronic systems, industrial machinery, and medical devices. It also owns and charters ships. The Metals & Minerals segment focuses on the mining and global trade of essential resources including iron ore, coal, uranium, various base metals, and minor metals. It also conducts trade in non-ferrous metal materials and processes and sells steel products. In Energy & Chemicals, ITOCHU trades a wide array of products such as crude oil, petroleum derivatives, LPG, LNG, natural gas, and hydrogen. It also deals with organic and inorganic chemicals, synthetic resins, household commodities, fine chemicals, pharmaceuticals, and electronic materials, complementing these activities with power generation and trading. The Food segment is dedicated to the production, distribution, and retail of food items. Its General Products & Realty division produces and markets diverse materials including paper, pulp, natural rubber, tires, and wood. It also engages in the development and operation of real estate properties, such as residential, logistics, and other commercial projects, while providing logistics services. The ICT & Financial Business segment delivers an extensive range of services, encompassing IT solutions, internet-related services, venture capital, mobile telecommunications equipment and services, business process outsourcing (BPO), broadcasting and communications, entertainment and content services, healthcare and preventive medicine outsourcing, and financial and insurance brokerage. Established in 1858, the company's corporate headquarters are located in Tokyo, Japan.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+4.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

¥0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Position

Cash flow positive

¥7.4T cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

ITOCHU Corporation is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
16.9%
Thin — 16.9% gross margin
Profit after running costs
Operating Margin
5.3%
Thin — 5.3% operating margin
Return on the money invested
ROCE
6.1%
Weak — 6.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+3.1%
Slow sales growth (+3.1% YoY)
Profit growth
EPS YoY
-3.4%
Earnings shrinking (-3.4% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
109%
Turns 109% of profit into real cash
Spare cash per sale
FCF Margin
4.8%
Thin free cash flow (4.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.77
Moderate — manageable debt (0.77)
Covers its interest
Interest Cover
6.83x
Adequate interest coverage (6.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
18.2x
Fair value — P/E 18.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+3.5
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (18.2 → 14.7)

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Dividends

Dividend
Dividend Yield
1.86%
Small dividend — 1.86% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-53.9%
Dividend cut (-53.9% YoY) — warning sign

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