Japan's Itochu Q1 net profit up about 37%, misses forecasts

Japanese trading house Itochu 8001 on Friday posted 283.94 billion yen ($1.89 billion) in net profit for the quarter ended on June 30, up 37.4% from the same period a year ago but missing analysts' forecasts.

An LSEG poll of analysts had expected Itochu to post 290.95 billion yen in net profit for the quarter. In the same period of last year, Itochu saw a net profit of 206.6 billion yen.

The company kept its full fiscal year net profit forecast unchanged at 900 billion yen.

($1 = 150.5700 yen)