Hitachi Records Valuation Allowance Against Deferred Tax Assets and Unconsolidated-Basis Losses on Write-Downs of Subsidiaries Shares

Tokyo, January 30, 2009 – Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced that the Company plans to record a valuation allowance against deferred tax assets for fiscal 2008, year ending March 31, 2009. Additionally on an unconsolidated basis, the Company plans to recognize losses related to write-downs of subsidiaries shares.