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News Release

4 October 1996

Revised Business Forecast for Fiscal 1996

Hitachi, Ltd. hereby revises its business forecast for fiscal 1996 as follows.

Unconsolidated forecastYen(millions)
Fiscal 1996Fiscal 1995 results
(B)
Revised forecast
(A)
(A)/(B)
x100
Initial
forecast(*)
Net sales4,150,000101% 4,200,000 4,126,419
Ordinary income 70,000 54% 110,000 128,806
Net income 55,000 77% 75,000 71,786
* The initial forecast was released in May 1996.


- Factors relating to the revision of the forecast -

Although sales of large computers and telecommunications equipment were good and consumer products showed improvement, DRAM prices fell more than expected, and as a result Hitachi estimates that net sales will amount to 4,150,000 million yen (an increase of 1% compared to the preceding fiscal year), 50,000 million yen less than the initial forecast, ordinary income will come to 70,000 million yen (a decrease of 46% compared to the preceding fiscal year), 40,000 million yen less than the initial forecast, and net income will amount to 55,000 million yen (a decrease of 23% compared to the preceding fiscal year), 20,000 million yen less than the initial forecast.


Consolidated forecast (for reference)Yen(millions)
Fiscal 1996Fiscal 1995 results
(B)
Revised forecast
(A)
(A)/(B)
x100
Initial
forecast(*)
Net sales8,130,000100% 8,240,000 8,123,810
Income before
income taxes
225,000 65% 310,000 348,627
Net income 80,000 56% 135,000 141,770
* The initial forecast was released in May 1996.

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WRITTEN BY Secretary's Office