Tokyo, December 17, 2009 – Hitachi, Ltd. (Hitachi; TSE:6501 / NYSE:HIT) announced that in connection with the issuance of new shares by way of third-party allotment pursuant to a decision by its President and Chief Executive Officer on November 16, 2009, Hitachi has been notified that the allottee elects to fully subscribe for the shares issuable in accordance therewith, as set forth below.
Number of New Shares to Be Issued
(Number of New Shares Issuable: 60,000,000 shares)
Issue Price Per Share
Total Issue Price
Amount by Which Stated Capital and Capital Reserve Are to Be Increased
Amount by Which Stated Capital Is to Be Increased
Amount by Which Capital Reserve Is to Be Increased
Subscription Period (Subscription Date)
December 24, 2009 (Thu.)
December 25, 2009 (Fri.)
3. Use of Proceeds
Hitachi intends to use the net proceeds from the issuance of new shares by way of third-party allotment described above, the Japanese offering, the international offering and the issuance of the Bonds with Stock Acquisition Rights, which approximately amount to ¥349,292 million, to fund capital expenditures of ¥220.0 billion to strengthen its Social Innovation Business, to make investments of ¥40.0 billion to strengthen its Social Innovation Business and to use the remainder to repay Hitachi’s debt. Please refer to “Issuance and Sale of New Shares and Issuance of Call Option Attached Unsecured Bonds with Stock Acquisition Rights (Convertible Bonds)” announced on November 16, 2009 for more details of Hitachi’s plan for use of proceeds.
About Hitachi, Ltd.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501) is a leading global technological and industrial company with total revenues of ¥10,000 billion ($102.0 billion) for the year ended March 31, 2009. Hitachi’s business is highly diversified, encompassing operations in the following seven segments: Information & Telecommunication Systems; Electronic Devices; Power & Industrial Systems; Digital Media & Consumer Products; High Functional Materials & Components; Logistics, Services & Others; and Financial Services. For more information on Hitachi, please visit Hitachi's website at http://www.hitachi.com.