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Japanese trading house Itochu expects 10% higher profit this financial year
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Japanese trading house Itochu expects 10% higher profit this financial year
Apr 2, 2024 11:26 PM

TOKYO, April 3 (Reuters) - Japanese trading house Itochu ( ITOCF )

on Wednesday forecast a 10% rise in its net profit to

880 billion yen ($5.8 billion) this financial year, from an

estimated 800 billion yen a year earlier, and expected a

shareholder return ratio of 50%.

Unveiling its new management plan for the 2024/25 financial

year that started on April 1, the company - in which Warren

Buffett's Berkshire Hathaway ( BRK/A ) holds a minority stake -

said it aimed to pay a dividend of minimum 200 yen per share, up

40 yen from a year earlier.

It will also buy back its own shares worth about 150 billion

yen.

The company's results for the year ended March 31 and

details of its forecast for the current year will be announced

on May 8, it said in a statement.

Itochu ( ITOCF ) also plans to invest up to 1 trillion yen in growth

areas in the current year, it added.

($1 = 151.5400 yen)

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