Tokyo, September 29, 2011 --- As announced on July 29, 2011, Hitachi, Ltd. (“Hitachi”, NYSE:HIT / TSE:6501), Fuji Electric Co., Ltd. (“Fuji Electric”, TSE:6504) and Meidensha Corporation (“Meiden”, TSE:6508) agreed to begin concrete discussions toward the progressive dissolution of their joint venture in the power transmission and distribution (“T&D”) field. The four companies, including the joint venture Japan AE Power Systems Corporation (“AE Power”) have discussed the successor, succession method and so on. Today, the parties reached the following basic agreement (“Basic Agreement”).
