Feb, 06 2019 20:47 JST

Source: Hitachi, Ltd.

Hitachi Announces the Conclusion of Absorption-type Company Split Agreement Relating to Reorganization of Industrial Equipment Business


TOKYO, Feb, 06 2019 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501) announced on October 25, 2018 that Hitachi Industrial Products, Ltd., a newly established company, will succeed to the Industrial Products Business Unit that operates the business of large-sized industrial equipment through an absorption-type split to strengthen the product business.

Having concluded the absorption-type company split agreement today, Hitachi has announced matters as follows, some of which had not yet been decided in the news release on October 25, 2018. The matters which have been decided in the Company Split Agreement and changes since the previous news release are underlined.

Hitachi Industrial Products, which will succeed to Hitachi's businesses of large-sized industrial equipment, will conduct businesses from development and manufacture to sales and maintenance services of high pressure motors, inverters, pumps, compressors, etc. The capital of Hitachi Industrial Products will be 10 billion yen and the consolidated revenue scale will be approximately 150 billion yen.Keizo Kobayashi, who is currently CEO of Industrial Products Business Unit of Hitachi, Ltd., will lead Hitachi Industrial Products as President. Hitachi Industrial Products will seek to achieve a flexible business operation as independent operating companies and dramatically strengthen manufacturing with 9 consolidated affiliates and approximately 4,600 emproyees(consolidated). In doing so, it will provide highly competitive products on a global basis.

For the complete details, visit http://www.hitachi.com/New/cnews/month/2019/02/f_190206a.pdf.


About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.


Contact:
Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111
Source: Hitachi, Ltd.
Sectors: Engineering

Copyright ©2019 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


Hitachi Receives Order for Electricity Balancing Market System to be Established through Joint Procurement for TEPCO Power Grid, Inc. and Chubu Electric Power Co.
August 02 2019 10:32 JST
 
Hitachi Automotive Systems to Strengthen Connections with Start-Ups Through Collaboration with Plug and Play
July 31 2019 12:10 JST
 
Hitachi Young Leaders Initiative Inspires Youth Leaders to Become Change Makers through Digital Transformation
July 09 2019 16:04 JST
 
"Hitachi Origin Park (tentative name)" to Open in Hitachi City, Ibaraki Pref., in 2021
July 03 2019 17:05 JST
 
Announcement of Share Transfer of Hitachi Automotive Systems Subsidiary to Hitachi Transport System
June 27 2019 17:34 JST
 
Hitachi Automotive Systems Stereo Camera Adopted in Suzuki's EVERY Light Commercial Vehicle and EVERY WAGON Light Passenger Vehicle
June 26 2019 17:05 JST
 
Hitachi Automotive Systems to Accelerate Its Transformation Toward Operational Excellence and Industry Leadership
June 19 2019 17:54 JST
 
Hitachi and Virtusa Partner to Advance AI in Financial Services
June 04 2019 08:29 JST
 
Hitachi Receives 106 Elevator Order for Large-scale Office Buildings in Hyderabad, India
June 03 2019 10:07 JST
 
Hitachi Receives Order for 174 Elevators, Escalators and Moving Sidewalks for Suvarnabhumi International Airport in Thailand
May 30 2019 15:39 JST
 
More Press release >>

Latest Press Release


More Latest Release >>