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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  ITOCHU Corporation    8001   JP3143600009

ITOCHU CORPORATION

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ITOCHU : Introduces New Digital Technology Solutions for Medical and Healthcare

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09/17/2020 | 11:40pm EDT

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter 'ITOCHU') announced today the formation of a capital alliance with medical marketing company PHASE ONE Inc. (headquartered in Chuo-ku, Tokyo; Kazumoto Inaba, President & COO; hereinafter 'PHASE ONE').

Increase medical care expenses for the aging society in Japan is a serious issue that requires improvement and efficiency in the medical industry. The expanding spread of Coronavirus (COVID-19) has caused a rapid rise in demand for new digital technology. Medical institutions are now required to restrict contact with hospitalized patients and clients in an effort to prevent the spread of infections inside hospitals. Amid these developments, the market size for digital solutions for medical and nursing industry is predicted to grow to 47.2 billion yen in 2017 and about 190 billion yen in 2030.*1

PHASE ONE is a pioneer of digital solutions provider for the medical and healthcare industry. The company operates on a philosophy of invigorating medical industry, including the development and operation of digital solution products and services. One of PHASE ONE's assets include a network of university medical professors and directors. This network was cultivated over many years with strategic relationships with practicing medical professionals providing guidance and supervision on products and services. This ensures provisioning of high quality products and highly credible services in the medical field.

ITOCHU has formed a capital alliance with PHASE ONE to develop digital technology solutions for medical institutions in Japan and international markets. The following two services will be introduced.

① Platform for distributing educational content for doctors

This is a service providing live and archival streaming of educational content for doctors. As opportunities for face-to-face instruction diminish, we are making it possible for doctors to impart their techniques and insights remotely. We are aiming to expand the number of practicing physicians, add new educational content and increase medical subscribers in the future, as well as broadcasting internationally to audiences that have strong interests in Japanese medical techniques.

② Online communication service for the medical field

The healthcare and medical industry has traditionally required a vast number of physical and in-person meetings, including seminars and conferences at medical offices and hospitals conducted by pharmaceutical companies on new medication. New communication technologies now make it possible to hold meetings virtually and online. ITOCHU and PHASE ONE will initially enable pharmaceutical companies to communicate remotely with doctors, and later expand service by enabling direct communications between doctors to provide online diagnosis and treatment services.

ITOCHU continues to focus on the healthcare industry and plans to develop new services together with PHASE ONE, and seeks to further accelerate the promotion of digital transformation initiatives for companies both in Japan and abroad.

  • *1Fuji Chimera Research Institute, 2018 Future Prospects for the Digital Transformation Market.

PHASE ONE Inc.

Location Chuo-ku, Tokyo
Representative Kazumoto Inaba
Founded May 2002
Business contents medical-care marketing and human-resource referral
URL https://www.phase-one.co.jp/

Disclaimer

Itochu Corporation published this content on 07 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 02:39:01 UTC


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Financials
Sales 2021 10 412 B 99 739 M 99 739 M
Net income 2021 400 B 3 830 M 3 830 M
Net Debt 2021 2 280 B 21 840 M 21 840 M
P/E ratio 2021 9,24x
Yield 2021 3,52%
Capitalization 3 765 B 35 973 M 36 060 M
EV / Sales 2021 0,58x
EV / Sales 2022 0,54x
Nbr of Employees 128 146
Free-Float 89,2%
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 2 966,25 JPY
Last Close Price 2 530,00 JPY
Spread / Highest target 30,4%
Spread / Average Target 17,2%
Spread / Lowest Target 4,35%
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NameTitle
Masahiro Okafuji Chairman & Chief Executive Officer
Yoshihisa Suzuki President, COO, Representative Director & CIO
Tsuyoshi Hachimura Chief Financial Officer & Representative Director
Yuji Fukuda Representative Director & Executive Vice President
Tomofumi Yoshida Representative Director & Executive Vice President
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