Hitachi announces its plans to post 33.0 billion yen in write-downs of affiliated companies' shares due to decline in share price, as an extraordinary loss on an unconsolidated basis. https:
Industrial News Buzz - Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced that the Company plans to post 33.0 billion yen in write-downs of subsidiaries and affiliated companies shares due primarily to a decline in share price as an extraordinary loss on an unconsolidated basis for the nine-month period ended December 31, 2011.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2010 (ended March 31, 2011) consolidated revenues totaled 9,315 billion yen ($112.2 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
Contacts:
Hitachi, Ltd.
Japan Masanao Sato Hitachi, Ltd. +81-3-5208-9324 mmasanao.sato.sz@hitachi.com
US Mickey Takeuchi Hitachi America, Ltd. +1-914-333-2987 masayuki.takeuchi@hal.hitachi.com
