ITOCHU : Announces Launch of Buy-Back/Trade-In Business for Used Mobile Devices via Amazon.co.jp
September 14, 2022
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ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has started a Buy-Back/Trade-In business for used mobile devices via Amazon.co.jp through wholly owned (including indirect ownership) Belong Inc. (headquartered in Minato-ku, Tokyo; Daisuke Inoue, President; hereinafter "Belong"), an online distributor of used mobile devices.
A historically weak yen is expected to keep the Japanese market price of smartphones high and increase the financial burden on households. This situation has fueled interest in used smartphones that perform their intended functions adequately and can be purchased at low cost. According to figures published by MM Research Institute, Ltd. in July 2022, sales of used smartphones reached a record high of 2.12 million units in fiscal 2021, and this number is expected to grow.
Belong launched its NICOSUMA Buy-Back/Trade-In online service for personal used mobile devices in 2019. Its easy and secure online transaction process has made the service popular with first-time sellers of used smartphones, and the number of units purchased through the service approximately doubled compared to the previous year*1. Now, Belong's NICOSUMA Buy-Back/Trade-In service will be available via the smartphone product page on Amazon.co.jp*2, which is one of the largest players in the Japanese marketplace for mobile devices. This will make it easier for individuals to sell their old mobile devices when purchasing a new smartphone.
ITOCHU's targets laid out in the basic policy of its medium-term management plan are realizing business transformation by shifting to a market-oriented perspective and enhancing our contribution to and engagement with the SDGs through business activities. Through Belong's NICOSUMA Buy-Back/Trade-In service for individuals, both companies will aim to contribute to the development of a sustainable society through effective use of our limited resources.
ITOCHU's targets laid out in the basic policy of its medium-term management plan are realizing business transformation by shifting to a market-oriented perspective and enhancing our contribution to and engagement with the SDGs. Through Belong's NICOSUMA Buy-Back/Trade-In service for individuals, both companies will aim to contribute to the development of a sustainable society.
*Amazon and Amazon.co.jp and their logos are trademarks of Amazon.com, Inc. or its associated companies.
*1 Comparison between average monthly number of Buy-Back/Trade-In units from January to December 2021and average monthly number of Buy-Back/Trade-In units from January to August 2022.
*2 The purchase amount will be sent in the form of an Amazon Gift Certificate in the amount of the transaction to the email address associated with the individual's Amazon account.
Step-by-step guide to service (Japanese)
*3 eKYC (electronix Know Your Customer) is the fully-remote, paperless procedure to identify and verify a customer's identity.
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Itochu Corporation published this content on 15 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2022 05:50:01 UTC.
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 
