Let $M$ be a factor, and let $\phi:M\to M$ be an irreducible endomorphism ("irreducible" means that the relative commutant of $\phi(M)$ in $M$ is trivial). Let's also assume that $\phi$ is not invertible.

Is it possible to have $\phi\circ \phi$ conjugate to $\phi$?

In other words, is it possible to have an endomorphism $\phi$, and a unitary $u\in M$, such that $$\phi(\phi(x))=u\phi(x)u^*,\quad\forall x\in M.$$

If this is possible, I would like to see an example.

*Note:*an answer to the above question would also settle this question.