26 August 2021: Enuit LLC announced today that ITOCHU Corporation has gone live with their ENTRADE implementation supporting their fuel requirements in their Singapore subsidiary, ITOCHU Petroleum Co., (Singapore) Pte. Ltd.
ITOCHU Corporation which has a rich history, dating back to 1858 has 100 bases in 62 countries and is one of the leading Sogo Shosha engaging in domestic trading, import/export and overseas trading of various products.
In 2019, ITOCHU began working with Enuit to develop a new system for their Tokyo Power and Fuel Business including their Singapore Fuel Business.
ITOCHU Corporation sought to implement a solution that would be scalable as they continue to grow and one that could support their Credit and Risk management and accounting process.
In March 2021, ITOCHU went live with their Enuit implementation and has now gone live for their Singapore subsidiary on 17 August 2021.
ITOCHU’S new ETRM system (ENTRADE®) will:
Enforce risk management by ensuring transparency of positions in the different business lines.
Allow ITOCHU Corporation to analyze P&L across months and products and departments.
And allow them to set operational standards within departments and standardize managerial and operational reports.
Tony Teo, Managing Director of Enuit Singapore said “It has been a great pleasure to work with ITOCHU Corporation. Given the difficulties that 2020 posed for global interactions and the way traditional implementations took place, the ITOCHU Corporation and Enuit teams have been extremely organised and committed to getting this project live and running smoothly”.
The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 160 years.
With approximately 100 bases in 62 countries, ITOCHU, one of the leading Sogo Shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas.
Visit https://www.itochu.com/ to learn more.
ABOUT ENUIT LLC
Enuit LLC provides enterprise risk management solutions, also known as ETRM/CTRM solution, for energy and commodities trading companies worldwide. We give our customers complete visibility, insights, control and management over their business operations helping them to have peace of mind to make quick and informed decisions that affect the bottom line.
Enuit, LLC is headquartered in Houston, Texas, USA, with offices located in Beijing, London, Singapore, Tokyo and India to serve markets in China, Asia-Pacific, Middle East, Europe, and North America.
Visit https://www.enuit.com to learn more.
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