Tokyo, Japan, October 3, 2016 --- Hitachi, Ltd. (TSE:6501; “Hitachi”) today announced the completion of the transfer of a part of common stocks of Hitachi Capital Corporation (President & CEO: Seiji Kawabe, “Hitachi Capital”) owned by Hitachi to Mitsubishi UFJ Financial Group, Inc. (President &Group CEO: Nobuyuki Hirano) and Mitsubishi UFJ Lease & Finance Co., Ltd.(President & CEO: Tadashi Shiraishi) as announced on May 13 and July 22, 2016*1,2.
As a result of this transfer of shares, Hitachi’s ownership ratio of voting rights for Hitachi Capital became 33.4%, and Hitachi Capital ceased to be Hitachi’s consolidated subsidiary and will be accounted as its equity method affiliate.
Note 1: announcement on May 13, 2016 “Notification of Change of Subsidiary (Transfer of Shares)”
Note 2: announcement on July 22, 2016
“Hitachi Announce Change of the Effective Date of Transferring Subsidiary Shares”
About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society’s challenges. The company’s consolidated revenues for fiscal 2015 (ended March 31, 2016) totaled 10,034.3 billion yen ($88.8 billion). The Hitachi Group is a global leader in the Social Innovation Business, and it has approximately 335,000 employees worldwide. Through collaborative creation, Hitachi is providing solutions to customers in a broad range of sectors, including Power / Energy, Industry / Distribution / Water, Urban Development, and Finance / Government & Public / Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.