TOKYO, Oct 12, 2023 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501) and Hitachi High-Tech Corporation (“Hitachi High-Tech”) today announced that they have decided to transfer Hitachi's Healthcare Business Division* to Hitachi High-Tech, a wholly owned subsidiary of Hitachi, through a company split effective April 1, 2024, for the purpose of strengthening the healthcare business in the Hitachi Group (the "Company Split").
Through the Company Split, Hitachi High-Tech will promote the healthcare business based on “Diagnosis x Treatment x Digital” and create healthcare innovation.
Since the Company Split is an absorption-type company split in which the business will be succeeded by a wholly owned subsidiary of Hitachi, disclosure regarding the Company Split in this announcement is simplified.
* Excludes nuclear fusion and research accelerator-related development department
Purpose of the Company Split
In the healthcare field, Hitachi is developing businesses related to diagnosis, treatment, and digital healthcare in Japan and overseas. In the diagnostic area, we supply Laboratory automation systems to university hospitals andlarge-scale laboratories. In the area of treatment, Hitachi provides radiotherapy system such as particle therapy systemand X-ray therapy system for cancer treatment, as well as automated cell culture systems for culturing large numbers of cells for use in regenerative medicine. We are also engaged in digital healthcare-related businesses that utilize healthcare data such as diagnosis and treatment.
Hitachi High-Tech promotes its business in four areas: Analytical & Medical Solutions, Nano- Technology Solutions, Value Chain Solutions, and Core Technology Solutions. Analytical & Medical Solutions provide new value in the healthcare field by integrating cutting-edge “analysis and automation technologies” with digital technology. To date, we have contributed to improve quality and efficiency of testing with a product lineup that includes in-vitro diagnostic equipment that analyzes blood and other specimens to support the diagnosis of diseases, and DNA sequencers that contribute to genomic medicine. In the future, by entering the molecular diagnostics business, we aim to contribute to the improvement of people's QoL (Quality of Life) through “personalized medicine” and “sophisticated diagnosis of intractable diseases”.
The Hitachi group aims to improve people’s well-being, and the healthcare field is central to this goal.
Hitachi and Hitachi High-Tech share the healthcare purpose “Innovating Healthcare, Embracing the Future” and arepromoting the healthcare business together. Both companies have many things in common, such as strong sales channels in the in-vitro diagnostics field, cutting-edge analysis and automation technologies, and business creation through collaboration with customers and partners. In addition, the two companies share mutual strengths, such asR&D and manufacturing capabilities accumulated at Hitachi High-Tech, relationships with global KOL (Key Opinion Leaders) cultivated through Hitachi's radiotherapy system business, and digital solutions that link diagnosis and treatment. This led to the decision to integrate the businesses of the two companies as the best way to accelerate the growth of the healthcare business.
Going forward, we will effectively implement our “Diagnosis x Treatment x Digital” strategy to create healthcare innovations such as high-quality, highly functional diagnosis, minimally invasive treatment, optimization of diagnosis and treatment, and realization of personalized medicine, aiming to improve people’s QoL and create “a society withoutfear of cancer and other diseases”.
Outline of the Company Split:
(1) Schedule of the Company Split
Singing of the Company Split Agreement: February 2024 (scheduled)
Effective date for the Company Split: April 1, 2024 (scheduled)
* Hitachi will perform the Company Split without holding general meetings of shareholder to obtain approval for the absorption- type split agreement since the Company Split falls under an “abbreviated split” as set forth in Paragraph 2, Article 784 of the Company Act with respect to Hitachi.
(2) Company Split method
The split is an absorption-type split under which Hitachi will be the splitting company and Hitachi High-Tech will be the succeeding company.
(3) Handling of stock acquisition rights and bonds with stock acquisition rights accompanying the Company Split
There will be no changes in the handling of stock acquisition rights issued by Hitachi due to the Company Split.
Hitachi has no bonds with stock acquisition rights.
(4) Capitalization changes accompanying Company Split
There will be no changes in Hitachi’s capitalization as a result of the Company split.
Other details related to the Company Split will be disclosed once determined.
For more information, visit www.hitachi.com/New/cnews/month/2023/10/f_231011.pdf.