Itochu Corporation history, company profile (overview) and history video
Itochu Corporation (伊藤忠商事株式会社/ Itōchū Shōji Kabushiki-gaisha) is a general trading company with headquarters in Osaka, Japan and Tokyo, Japan. It is engaged in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas.
HISTORY
Itochu Corporation’s origins date back to 1858 when ITOCHU’s founder Chubei Itoh began door-to-door wholesaling of linen.
In 1872, Chubei Itoh established the “Benichu” drapery shop in Osaka.
In 1884, Benichu was renamed “Itoh Honten”.
In 1893, Chubei Itoh established Itoh Itomise (Thread and Yarn Store), to which ITOCHU traces its roots.
In 1914, Itoh Itomise was reorganized under the name C. Itoh & Co.
In 1918, C. Itoh & Co. became a public stock company – C. Itoh & Co., Ltd.
In 1941, Sanko Kabushiki Kaisha, Ltd. was established by merging of C. Itoh & Co., Marubeni Shoten Ltd., and Kishimoto Shoten Ltd.
In 1944, Sanko merged with Daido Boeki Kaisha, Ltd. and Kureha Cotton Spinning Co., Ltd. to form Daiken Co., Ltd.
In 1949, Daiken Co., Ltd., a company created from the merger of trading and manufacturing firms during World War II, was separated into C. Itoh & Co., Ltd., Kureha Cotton Spinning Co., Ltd., Marubeni Co., Ltd., and Amagasaki Nail Works, Ltd.
In 1950, Itoh was listed on the Osaka Securities Exchange and the Tokyo Stock Exchange.
In 1971, the company assisted in arranging a contract for cooperation between General Motors Corporation and Isuzu Motors, Ltd.
In 1992, ITOCHU Corporation was adopted as the company’s English-language name.
OPERATIONS
The company operates through the following business domains: Textile, Metals & Minerals, Food, Machinery, Energy & Chemicals, General Products & Realty, ICT & Financial Business, and ”The 8th Company”.
Textile
The Textile domain consists of three business fields: Raw Materials for Clothing / Industrial Materials (fiber, raw materials, textile fabrics, lining, garment materials, and functional materials), Apparel Division (shirts, denim, underwear, sportswear, and uniforms), and Brand Division (licenses for lifestyle brands, fashion accessories and garments).
Metals & Minerals
The Metals & Minerals domain supports and provides raw materials, such as steel and electric power, and it is engaging in global mining and trading of iron ore, coal, uranium, base metals, and minor metals. It is also involved in the development and trading of non-ferrous metal materials (mainly aluminum), the trading of metal materials and products, recycling, and other businesses.
Food
The Food domain consists of the following business fields: Food Resources, Product Processing, Midstream Distribution, and Retail Business.
Machinery
The Machinery domain develops businesses in a wide range of fields: water and environment-related businesses, renewable energy, electric power generation, bridges, railways, petrochemicals and other infrastructure-related projects, ships, aircraft, automobiles, construction machinery, industrial machinery and other businesses related to machinery, and healthcare businesses.
Energy & Chemicals
The Energy & Chemicals domain focuses on Energy, Chemicals, and Power & Environmental Solution.
General Products & Realty
The General Products & Realty domain consists of two business fields: Forest Products, General Merchandise & Logistics, and Construction & Real Estate.
ICT & Financial Business
The ICT & Financial Business domain involves the Information & Communication Technology field and the Financial & Insurance Business field.
The 8th Company
The 8th Company collaborates with the other seven existing domains and includes the Development of new businesses field and the Consumer business field.
With more than 102,000 employees, Itochu Corporation is considered one of Japan’s largest general trading companies. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and ”www.itochu.co.jp/en”.
**Video published on YouTube by “Companies History“.
