Tokyo, October 26, 2009 - Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced that the Company plans to recognize extraordinary items on an unconsolidated basis for the first half of fiscal 2009, year ending March 31, 2010. Details are as follows.
On an unconsolidated basis for the first half of fiscal 2009, Hitachi plans to recognize an extraordinary loss of 53.0 billion yen as write-downs of shares in line with a significant decline in share prices. Of this total, 52.3 billion yen will be recognized as an extraordinary loss for second quarter of fiscal 2009, three months ended September 30, 2009.
On the other hand, Hitachi plans to record an extraordinary gain of 9.9 billion yen for the difference between the net assets received from wholly owned Hitachi Communication Technologies, Ltd. and the carrying value of shares owned in this company on the effective date of the July 1, 2009 merger of Hitachi Communication Technologies.
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