OREANDA-NEWS. October 1, 2012. ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it will open a branch in Nay Pyi Taw, the capital of Myanmar, on October 1, 2012.

Richly endowed with natural resources, Myanmar has the geographical advantage of sharing a border with China, India, and other ASEAN countries. With a population of approximately 62 million, it is able to supply the labor resources needed for future industrial development and has strong potential as a consumer market.

Since opening a branch in the then capital Yangon in 1955, ITOCHU has continually endeavored to contribute to the development of Myanmar through trade in fibers, food, and chemicals.

As Myanmar moves toward democratization and economic deregulation, the establishment of the Nay Pyi Taw Branch in conjunction with the Yangon Branch will enable ITOCHU to strengthen its information gathering function, extend initiatives to identify and promote business opportunities, and further contribute to sustainable economic growth and development in Myanmar.