When a foreign word is used for the first time in text, it is generally italicized (or put in quotation quotes as an alternative). Is it ever correct to use both italics and quotation marks when the word is both foreign and also identified as a specific word: e.g. Grilled Spam and rice wrapped in nori, or seaweed, is called “omusubi.” Should omusubi be both italicized as a foreign word and in quotes because it is being identified as a specific word?
Italics or "quotation marks" are normally used to add emphasis to a particular word(s), or to indicate an unusual or uncommon use of the words. A 'foreign' word would, by definition, fall in to this category. You can use both but its a bit like SHOUTING!
Probably best to use either / or. Both only in moderation...