# Who are Itochu's customers? Who does Itochu earn revenue from?
Canonical: https://valuechain.wiki/itochu · Facet: customers · Updated: 2026-10-14T16:08:35.134+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Itochu's confirmed revenue counterparties include Lotte Chemical (mixed xylene & feedstock) plus 3 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 4 revenue edges, backed by 4 dated sources, 3 of them primary filings (as of 2026-10-14).

### 글로벌 철강·자원 고객 (철광석·제철용탄) (high)
- metric: net income 143.5 JPY_bn · FY ended Mar2026
- note: Metals & Minerals earned JPY 143.5bn in FY2026 but fell year on year — and the fact that group profit still hit a record in a soft-commodity year is itself proof of how low this dependence is. It supplies steel/power customers from interests such as Fitzroy coking coal, but in Itochu's profit equation resources are a swing factor, not the axis.
- [mentions] MarketScreener (13-analyst consensus) (EN, research, published 2026-07-01) https://www.marketscreener.com/quote/stock/ITOCHU-CORPORATION-6491311/consensus/: "Analyst consensus Buy; average 12-month target ¥2,476.9 (high ¥2,900, low ¥2,100), 13 analysts, ~27% upside."
- [confirms] ITOCHU (EN, filing, published 2026-06-12) https://www.itochu.co.jp/en/ir/download/__icsFiles/afieldfile/2026/06/12/FIR2026E.pdf: "Metals & Minerals segment — iron ore and coal resource interests."
- [confirms] ITOCHU (EN, filing, published 2026-05-08) https://www.itochu.co.jp/en/files/26_ended_02_e.pdf: "Metals & Minerals net profit 143.5 (FY ended Mar 2026); Fitzroy Australian coking coal improvement."

### 일본·아시아 식품·소매 고객 (Dole·식자재) (high)
- metric: net income 92.1 JPY_bn · FY ended Mar2026
- note: Dole and food-material wholesale/retail for a steady JPY 92.1bn — together with FamilyMart this forms Itochu's 'consumer/retail' axis, a counterweight with low correlation to the resource cycle that dampens earnings volatility.
- [confirms] ITOCHU (EN, filing, published 2026-06-12) https://www.itochu.co.jp/en/ir/download/__icsFiles/afieldfile/2026/06/12/FIR2026E.pdf: "Food segment includes Dole and food distribution."
- [confirms] ITOCHU (EN, filing, published 2026-05-08) https://www.itochu.co.jp/en/files/26_ended_02_e.pdf: "Food net profit 92.1 (FY ended Mar 2026); packaged foods (Dole) transactions."

### 일본·아시아 에너지 고객 (LNG·원유·화학) (high)
- metric: net income 69.3 JPY_bn · FY ended Mar2026
- note: LNG dividends, crude (Sakhalin) and chemicals trading for JPY 69.3bn — classic resource exposure that swings on volume and FX, so this segment's decline (-4.8%) paradoxically underscores Itochu's non-resource structure.
- [confirms] ITOCHU (EN, filing, published 2026-05-08) https://www.itochu.co.jp/en/files/26_ended_02_e.pdf: "Energy & Chemicals net profit 69.3; LNG dividends and Japan South Sakha Oil volume/FX effects."

### 버크셔 해서웨이 (지분 10%+) (high)  → /berkshire-hathaway.md
- metric: Market share 10% · 버크셔 지분
- note: Buffett's flagship Japan bet, buying close to 10% of the five trading houses with low-cost yen — and Itochu specifically because it has the shallowest resource exposure and the largest consumer/retail weight, i.e., a trading house that runs 'without commodities.' The agreement to buy above the prior ceiling is a long-hold signal, not a mere stake, and it dovetails with Itochu's heavy dividend/buyback returns into a cheap-funding, high-payout carry.
- [confirms] Financial News (KR) (KO, news, published 2026-02-17) https://www.fnnews.com/news/202602170440468513: "Berkshire's long-term stakes in Japan's five trading houses (incl. Itochu), funded by low-cost yen, produced large unrealized gains."
- [confirms] CNBC (EN, news, published 2025-03-17) https://www.cnbc.com/2025/03/17/buffett-hikes-stakes-in-five-japanese-trading-houses-to-almost-10percent-each.html: "Berkshire holds 10%+ of all five Japanese trading houses."

### 롯데케미칼 (혼합자일렌 등 원료) (high)  → /lotte-chemical.md
- note: Itochu supplies mixed xylene and aromatics feedstock to Lotte Chemical — a trading relationship equal to KRW 841.9bn (8.5%) of Lotte purchases in FY2025.
- [confirms] FSS DART / Lotte Chemical (KO, filing, published 2026-03-12) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260312001296: "Lotte mixed-xylene purchases KRW 841.9bn, supplier Itochu et al."

Reverse side: https://valuechain.wiki/itochu/suppliers.md · Ripple: https://valuechain.wiki/itochu/ripple.md

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Full node: https://valuechain.wiki/itochu.md · JSON: https://valuechain.wiki/itochu.json