Press Releases

Hitachi Automotive Systems and Honda Sign MoU Aiming to Establish Joint Venture Company for Electric Vehicle Motors

Tokyo, February 7, 2017 --- Hitachi Automotive Systems, Ltd., and Honda Motor Co., Ltd., today announced the signing of a Memorandum of Understanding ("MoU") on Feb. 3, aiming to establish a joint venture company for the development, manufacture and sales of motors for electric vehicles. The two companies now will conduct formal discussions regarding the establishment of the new company.

Ansaldo STS - Unaudited preliminary FY 2016 estimates very positive performance in a transitional year

Milan, January 31st 2017 ---

- Order backlog at EUR 6,488.4 million, +1.2% y/y
- New Orders at EUR 1,475.8 million, +10.5% y/y
- Revenue of EUR 1,327.4 million, -4.1% y/y
- EBIT of EUR 126.8 million, -6.6% y/y. EBIT margin (ROS) at 9.6%, compared to 9.8% in 2015
- Net Result of EUR 77.9 million, -16.3% y/y, equivalent to 5.9% of revenues
- Net Financial Position (cash surplus) of EUR (338.0) million, in line with the 2015 amount of EUR (338.7) million

Notification of Subscription to Tender Offer for Shares, etc. of Subsidiary

Tokyo, Japan, January 13, 2017 --- Hitachi, Ltd. (TSE:6501, “Hitachi”) today announced that it has executed an agreement (the “Agreement”) with HK Holdings Co., Ltd. (Representative Director: William Janetschek; the “Offeror”), all of whose issued shares are owned by investment funds related to Kohlberg Kravis Roberts & Co. L.P. (Co-Chairman and Co-CEO: Henry R. Kravis, George R. Roberts; including affiliate companies and other related business entities, collectively referred to as “KKR”), regarding to a tender offer made by the Offeror (the “Tender Offer”).

Works for the technological systems of the High Speed/High Capacity “Terzo Valico dei Giovi” line between Milan and Genoa have been assigned to ANSALDO STS

Genoa, January 11th, 2017 --- On 28th December 2016, the “Saturno Consortium for the undertaking of High Technology Railway works for the Italian High Speed Railway System”, of which Ansaldo STS S.p.A is member, signed a contract with the General Contractor, the Consorzio Collegamenti Integrati Veloci (“COCIV”) for the production of the technological systems for the AV/AC Project (High Speed and High Capacity) of the “Terzo Valico dei Giovi” Milan – Genoa line.

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