Hitachi Concludes Absorption-type Company Split Agreement Related to the Restructuring of Elevator and Escalator Business in Japan

Tokyo, January 30, 2014 -- Hitachi, Ltd. (TSE: 6501 / "Hitachi") announced on October 23, 2013, that it had decided to transfer its elevator and escalator business in Japan (the “Business to be Transferred”) and integrate it in Hitachi Building Systems Co., Ltd. ("Hitachi Building Systems"), a wholly-owned subsidiary, through a company split on April 1, 2014 (the “company split” ). The purpose of the restructuring is to strengthen and expand the elevator and escalator business in Japan.