Itochu Q3 Net Profit Surges 38%

Itochu Corp ITOCY reported a 38% rise in its net profit for the third quarter. Itochu's quarterly net profit rose to Y58.61 billion, from Y42.36 billion, in the year-ago period. For the fiscal year ending March 2012, Itochu lifted its full-year group net profit forecast to Y280 billion versus Y240 billion. Itochu shares closed at $21.84 yesterday.