Itochu Corp. increased its dividend forecast for fiscal 2018 on the back of higher profit expectations.
The company said Dec. 20 it will declare an annual dividend of at least ¥70 per share in fiscal 2018, compared to the previous forecast of ¥64 per share.
It declared a dividend of ¥55 per share for fiscal 2017.
In the first half of fiscal 2018, Itochu's metals and minerals segment posted a net profit attributable to shareholders of ¥37.09 billion, surging from the year-ago net profit of ¥14.8 billion.
The company's overall net profit for the first half of fiscal 2018 rose 19.9% year over year to ¥242.47 billion.