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ITOCHU: A Quality Company, But The Ongoing Premium Valuation Makes It A Hold (ITOCY)

Since I last covered ITOCHU Corp. ( OTCPK:ITOCY )( OTCPK:ITOCF ) in May, the US ADRs have returned over 17%, a respectable-sounding result. It was also better than the Japanese market in general, as measuredI retired early after 22 years in the energy industry with roles in engineering, planning, and financial analysis. I have managed my own portfolio since 1998 and have met my goal to match the S+P 500 return over the long term with lower volatility and higher income. I mostly write on positions I already ...