Contacts: Japan: Yoji Maruo U.K.: Yuki Maeda Hitachi, Ltd.
Hitachi Europe Ltd.
+81-3-5208-9324 +44-1628 585 714 yoji.maruo.pt@hitachi.com yuki.maeda@hitachi-eu.com Hitachi Announces Recognizing Other Income on a Consolidated Basis Tokyo, May 12, 2014 – Hitachi, Ltd. (TSE: 6501, “Hitachi”) today announced that Hitachi posted other income on a consolidated basis for fiscal 2013, ended March 31, 2014, as follows.
To integrate the business centered on the thermal power generation systems of Hitachi and Mitsubishi Heavy Industries, Ltd. (TSE: 7011) (the “Business Integration”), Hitachi has concluded an absorption-type company split agreement (including a subsequently amended agreement) with Mitsubishi Hitachi Power Systems, Ltd. (the “Integrated Company”). The Business Integration became effective on February 1, 2014. Hitachi posted gains of 131.7 billion yen as other income on a consolidated basis for fiscal 2013 as a result of valuation of shares of the Integrated Company that Hitachi acquired at fair value.
For consolidated financial results for fiscal 2013, refer to “Consolidated Financial Results for Fiscal 2013,” also announced today.
About Hitachi, Ltd. Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society’s challenges with our talented team and proven experience in global markets. The company’s consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, health care and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com .
