I would recommend solution C

:
Table item_name
----------
int item_id
varchar2(4) language
varchar(255) value
Or D if you want to split the code (I assume there is a language code and a territory code, but you can adapt) :
Table item_name
----------
int item_id
varchar2(2) language
varchar2(2) territory
varchar(255) value
And then a lookup table for the language codes (plus one for the territory codes in solution D).
Regards,
rbaraer