Thursday, January 3, 2013

Investopedia: Itochu - It's Not Easy, But It Might Be A Good Value

If you're a quant investor who loves to go through a business line by line, trading companies like Itochu (OTC:ITOCY) will either be a dream come true or a living nightmare. Like most trading companies, Itochu operates over 130 branches in over 60 countries, with about 700 subsidiaries and affiliates ... and it's not even the largest of the Japanese trading companies (trailing the likes of Mitsui (OTC:MITSY) and Sumitomo (OTC:SSUMY)).

While these large, far-flung enterprises are generally derided as hulking behemoths (and there's an element of truth to that), I wouldn't sleep on Itochu. The company has not only made a concerted effort to trim away underperforming assets, the company has also devoted increasing efforts and assets to building up its non-resource businesses, particularly those aimed at the Chinese consumer.

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