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Japan's Itochu Group, which includes the Itochu Corporation, is among the world’s biggest companies, with more than 700 subsidiaries.
Japan is reliant on the Middle East for about 90 per cent of its crude oil imports, but Sakhalin 1 is an important alternative source, industry minister said.
Japanese trading giant Itochu and Thailand's Charoen Pokphand Group (CP) are buying a 20 per cent stake in Citic, China's largest conglomerate, for HK$80.3 billion.