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”). The Tender Offer aims to acquire common stock of Hitachi Koki Co., Ltd. (President & Representative Executive Officer: Osami Maehara; “Hitachi Koki”), a consolidated subsidiary of Hitachi, and stock acquisition rights issued based on a resolution at the Hitachi Koki’s Board of Directors’ Meeting held on July 28, 2015. The Agreement provides that Hitachi will subscribe all shares of common stock of Hitachi Koki owned by Hitachi to the Tender Offer. After the completion of the Tender Offer, Hitachi Koki will no longer be a consolidated subsidiary of Hitachi.
