Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
April 18, 2012
TOKYO, Japan, April 18, 2012 - Hitachi, Ltd. (TSE:6501) today announced that the company has decided to participate in the "TOMODACHI Initiative," a partnership between the public and private sectors, as a key partner. The intent of this initiative is to support recovery from the damages caused by the Great East Japan Earthquake, while at the same time strengthening long-term cultural and economic ties between Japan and the United States, and to invest in the future of both countries through deepened mutual friendship.
The goal of the TOMODACHI Initiative is to foster the next generation of Japanese and Americans, the "TOMODACHI generation", who have dreams and thus plan to realise them by understanding each others' culture and country, and have skills and global mindset which can be applied throughout the world that will lead to success and contribution to the society. Hitachi has decided to participate in this project because it believes wholeheartedly in the vision of the Initiative.
Specifically, Hitachi has collaborated with Toyota Motor Corp., Mitsubishi Corp., Takeda Pharmaceutical Co., Ltd., and Mitsubishi Tokyo Financial Group, which became Key Partners at the same time, in establishing a new fund called the "TOMODACHI Fund for Exchanges," and contributes to the operation of various programs aimed at achieving a full recovery from the devastation resulting from the Great East Japan Earthquake. Program operations are led by the United States Government and the U.S.-Japan Council, a non-profit organization. The TOMODACHI Initiative Secretariat also receives support from the Japanese government.
Up to now, Hitachi has offered support in many forms to assist in recovery efforts following the Great East Japan Earthquake. We will continue to promote ongoing support activities, while at the same time contributing to a safe and secure society, by providing a variety of social infrastructure systems and participating in new city-building projects, including the smart city projects that are being implemented in regions throughout the world.
Hitachi, Ltd., (NYSE: HIT,TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2010 (ended March 31, 2011) consolidated revenues totalled 9,315 billion yen ($112.2 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
