Hitachi Announced Recognizing Extraordinary Items on an Unconsolidated Basis
Tokyo, April 26, 2010 --- Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced that the Company plans to post extraordinary items on an unconsolidated basis for the fiscal 2009, year ended March 31, 2010. Details are as follows.
On an unconsolidated basis for the fiscal 2009, year ended March 31, 2010, Hitachi plans to post 95.1 billion yen in write-downs of subsidiaries and affiliate companies shares as extraordinary losses.
Furthermore, Hitachi plans to also post business restructuring losses of 10.9 billion yen as extraordinary losses relating predominantly to realignment and integration of business sites as well as workforce downsizing in the automotive systems and consumer businesses.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 400,000 employees worldwide. Fiscal 2008 (ended March 31, 2009) consolidated revenues totaled 10,000 billion yen ($102.0 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials, logistics and financial services. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.