247 of 265 Companies ProfitableNarrow moat

ITOCHU (8001) — moat facet

More than nine in ten of ITOCHU's 265 group companies made money last year, a record.

ITOCHU had 265 group companies in the latest year, of which 247 made a profit, a record 93.2%1. The group companies' combined profit was ¥782.6 billion2. The number of companies was far higher in the past; the company has pruned the portfolio over years.

Group companies, year to March 2026Profitable — 93%Loss-making — 7%ITOCHU results presentation, May 2026
Eighteen loss-makers among 265.

The share of profitable companies is a simple measure of portfolio discipline. A trading house with hundreds of subsidiaries accumulates losers unless it sells or closes them, and ITOCHU's exits of ¥441.0 billion in the latest year3 show it doing so.

The count also describes the scale of management: 265 companies overseen by a parent of 4,196 employees4.

Group companies' profit was ¥791.8 billion in the year to March 2025 and ¥782.6 billion in 20265, slightly lower even as the profitable share reached a record.

The measure is the profitable share. A fall below 90% would show weaker businesses accumulating faster than they are sold.

Moat trajectory: Widening

The profitable share reached a record 93.2%.

The number that tests this moat
Reported
Profitable share of group companies
93.2% (247 of 265)

The portfolio's health in one ratio; below 90% would be a warning.

Source: ITOCHU business results and management plan, May 2026 ↗
⚠ Threats to the moat
⚠ THREAT 01
A Profit Is Not a Return
Profitable is a lower bar than profitable enough.
References
  1. ReportedITOCHU had 265 group companies in the latest year, of which 247 made a profit, a record 93.2%.
    ITOCHU Corporation, FY2025 Business Results and FY2026 Management Plan - results of major group companies by segment, with ownership, including FamilyMart, CTC, DESCENTE, NIPPON ACCESS, IMEA and Orchid (CITIC). — FY to March 2026 · publ. 14 May 2026 · source ↗
  2. ReportedThe group companies' combined profit was ¥782.6 billion.
    ITOCHU Corporation, FY2025 Business Results and FY2026 Management Plan - results of major group companies by segment, with ownership, including FamilyMart, CTC, DESCENTE, NIPPON ACCESS, IMEA and Orchid (CITIC). — FY to March 2026 · publ. 14 May 2026 · source ↗
  3. ReportedA trading house with hundreds of subsidiaries accumulates losers unless it sells or closes them, and ITOCHU's exits of ¥441.0 billion in the latest year show it doing so.
    ITOCHU Corporation, FY2025 Business Results and FY2026 Management Plan - net profit, core profit and extraordinary items by segment, investment and exit, and the management plan for the year to March 2027. — FY to March 2026 · publ. 14 May 2026 · source ↗
  4. ReportedThe count also describes the scale of management: 265 companies overseen by a parent of 4,196 employees.
    ITOCHU Corporation, corporate profile - incorporation, offices and employees. — 2026 · publ. 2026 · source ↗
  5. ReportedGroup companies' profit was ¥791.8 billion in the year to March 2025 and ¥782.6 billion in 2026, slightly lower even as the profitable share reached a record.
    ITOCHU Corporation, FY2025 Business Results and FY2026 Management Plan - net profit, core profit and extraordinary items by segment, investment and exit, and the management plan for the year to March 2027. — FY to March 2026 · publ. 14 May 2026 · source ↗
Sources
Generated September 24, 2026