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

said on Wednesday it will step up investment in growth

segments, aiming for record spending of 1 trillion yen ($6.6

billion) in the current financial year and a 10% rise in net

profit.

Unveiling its management plan for the 2024/25 year that

started on April 1, Itochu ( ITOCF ) - in which Warren Buffett's Berkshire

Hathaway ( BRK/A ) holds a minority stake - said it aims to boost

profit to a record 880 billion yen from an estimated 800

billion yen in the year just ended.

"Relying solely on organic growth won't be adequate for

further growth, and it's imperative that we aggressively pursue

investments of a certain scale," Itochu ( ITOCF ) President and Chief

Operating Officer Keita Ishii told a news conference.

"We'll broaden the scope of our investment targets," he said

without giving details.

The company will announce results for the 2023/24 financial

year and detail its forecast for the current year, including

investment plans, on May 8, he added.

Itochu's ( ITOCF ) highest net investment to date was 755 billion yen

in the 2020/21 year when it made a tender offer to gain greater

control of convenience store chain FamilyMart, a company

spokesperson said.

The company is aiming for a total shareholder return ratio

of 50% this year, with a minimum dividend of 200 yen per share,

up 40 yen from the previous year, and a share buyback totalling

about 150 billion yen.

If realised, it would be the tenth consecutive dividend hike

and a record buyback.

Itochu ( ITOCF ) shares closed 6.37% higher at 6,765 yen,

outperforming the Nikkei 225 index's roughly 1% loss.

Itochu ( ITOCF ) has opted for a nimble one-year plan rather than its

traditional three-year strategy in response to the prevailing

climate of uncertainty, Ishii said.

($1 = 151.7200 yen)