Itochu Corp. announced the appointment of Senior Managing Executive Officer Keita Ishii, 60, as its new president, effective April 1, 2021. Current President Yoshihisa Suzuki, 65, will step aside to become vice chairman without the right to represent the company, while Chairman and Chief Executive Officer Masahiro Okafuji, 71, will stay on. Under the new president, Itochu will implement its new medium-term business plan focusing on decarbonization from fiscal 2021, which begins in April, and carry out structural reforms. Ishii, who has long experience in chemicals-related operations, became head of Itochu's Energy and Chemicals Company in 2018. He has also served as chief operating officer of the Power and Environmental Solution Division since 2020.
Itochu Corporation is a diversified group organized around 8 areas of activity:
- distribution of food products (34.9% of net sales): frozen food, vegetable oil, sweeteners, sugars, etc.;
- distribution of hydrocarbons (23.3%): hydrocarbons (natural gas, oil products, bioethanol, etc.). The group also develops manufacturing of chemical products activity;
- manufacturing and sale of industrial and construction machines, vehicles and ships (9.7%);
- production of metals and coal (8.5%);
- sale of consumer products (8.4%). The group also develops forest products sale and real estate development activities;
- distribution of computing and telecommunication equipments (7%): data transmission, Internet access, media content broadcasting and mobile telephony equipments. The group also offers financial services;
- sale of textile products (3.6%);
- other (4.6%).
Net sales are distributed geographically as follows: Japan (79.5%), Singapore (5.4%), the United States (4.5%), Australia (3.1%), China (2.8%) and other (4.7%).
ITOCHU CORPORATION 
