| GLOBAL HOME | UP |SEARCH |

 

DOWNLOAD

Hitachi Announces Names of Presidents and Directors, of Consumer Products Company and Industrial Components and Equipment Company

Tokyo, Japan, November 29, 2001 -- Hitachi, Ltd. (TSE: 6501) today announced the names of the presidents and directors of its new consumer products company and industrial components and equipment company that are to be set up under a reorganization announced on September 27, 2001. As a company specializing in home appliances, the new consumer products company will develop, manufacture and market white goods and will also market digital audio-visual equipment. It will help add momentum to the ongoing Home & Life Solutions initiative, focus its resources on the development of home network appliance systems and other new product sectors, and move forcefully ahead with the expansion of global operations and the improvement of marketing and service capabilities. The new industrial components and equipment company will meld Hitachi's well-proven technologies in the areas of industrial machinery design and manufacture with top-level expertise and know-how in the provision of engineering and solutions. These capabilities will ensure the new company's ability to come quickly forward with high added-value equipment, services and solutions that reflect immediate market needs and offer customers maximum value for their investment. As the company capitalizes on its engineering prowess to develop new sectors of business and expand overall operations, it will also move ahead with base consolidation and organizational streamlining for speeding up decision-making and boosting profitability. Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading global electronics companies, with fiscal 2000 (ended March 31, 2001) consolidated sales of 8,417 billion yen ($67.9 billion*). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi's Web site at http://global.hitachi.com. *At an exchange rate of 124 yen to the dollar. About New Consumer Products Company Company Name : Hitachi Home & Life Solutions, Inc. (provisional) Business : Development, manufacture and sales of consumer products and peripheral systems President and Director : Kunio Sebata Split-off date : April 1, 2002 (provisional) Head Office : Tokyo, Japan (provisional) Major production bases : Ibaraki Prefecture and Tochigi Prefecture Employees : Approximately 18,000 (at time of split-off) Sales : About 560 billion yen (The fiscal year ending March 31, 2002) About 600 billion yen (The fiscal year ending March 31, 2004) Board of Directors and Auditors (Effective April 1, 2002, Current Positions in Parentheses) About Industrial Components & Equipment Company Company Name : Hitachi Industrial Equipment Systems Co., Ltd. (provisional) Business : Manufacture, sales, system solution and service solution of industrial components and equipment President and Director : Kiyohiko Shiiki Split-off date : April 1, 2002 (provisional) Head Office : Chiba-city, Japan (provisional) Major production bases : Chiba Prefecture, Niigata Prefecture and Shizuoka Prefecture Employees : Approximately 4,800 (at time of split-off) Sales : About 145 billion yen (The fiscal year ending March 31, 2002) About 158 billion yen (The fiscal year ending March 31, 2004) Board of Directors and Auditors (Effective April 1, 2002, Current Positions in Parentheses) Profile of New Presidents Name : Kunio Sebata Date of Birth : January 17, 1949 Career : April 1971 Joined Hitachi, Ltd.     August 1994 General Manager, Production Engineering Department, Tochigi Operation, Refrigeration & Air Conditioning Division     July 1998 Deputy General Manager, Tochigi Operation, Refrigeration & Air Conditioning Division     April 2000 General Manager, Refrigeration & Air Conditioning Division, Consumer Products Group     April 2001 President & Chief Executive Officer, Consumer Products Group Name : Kiyohiko Shiiki Date of Birth : June 17, 1946 Career : April 1969 Joined Hitachi, Ltd.     August 1992 General Manager, Business Planning Division, Kansai Area Operation     June 1995 Deputy General Manager, Kansai Area Operation     August 1996 General Manager, Industrial Components & Equipment Sales Division, Industrial Systems Sales Operations Group     July 1998 Vice General Manager, Industrial Systems Sales Operations Group     April 1999 General Manager, Sales Management Division, Industrial Components & Equipment Group     April 2001 President & Chief Executive Officer, Industrial Components & Equipment Group

 

WRITTEN BY Corporate Communications Division