Welcome to the forums. C.Itoh was a Japanese trading company that imported C.Itoh and Kabuki branded bicycles manufactured by Bridgestone during the 1970s. Your bicycle has hubs with wingnuts, suggesting that it is from the early 1970s. The exact date can be determined from the serial number.

C. Itoh marketed a wide range of bicycles, from entry level up to professional racing grade. Most early 1970s 10 speeds had a weights of 20-30 lbs, depending on the grade of components and frame tubing. Schwinn's Varsity, at ~40 lbs was considered very heavy even in it's day. For instance, in 1973, the Varsity had an MSRP of $103.95. Its main competition at the time were the Peugeot AO8 ($109.95) , Raleigh Record ($99.95) and Nishiki Sports Cycle ($99.00). They all had claimed weights of 29-31 lbs.