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 28, 2015
Las Vegas, April 28, 2015 --- Hitachi, Ltd. (TSE:6501, “Hitachi”) announced today that it will host the “Hitachi Social Innovation Forum 2015 in North America” in Las Vegas, Nevada on April 29th. This new event is being launched to strengthen the Company's partnership with many global customers as well as to expand Hitachi's Social Innovation business in the Americas. This Forum will introduce to stakeholders from numerous industries in the Americas a wide range of solutions related to Social Innovation Business, where Hitachi is focusing its efforts, as well as the potential for these solutions to contribute to resolving customers' future business issues. At the same time, it will demonstrate Hitachi's commitment to key markets in this region, such as healthcare, energy, infrastructure, Big Data, security and transportation (automotive technologies.) The Americas market is one of Hitachi's core regions, as highlighted by the appointment of Mr. John Domme (Jack Domme), who was appointed Chief Executive for the Americas on April 1, 2015. Mr. Domme will play a key role in expanding Hitachi's Social Innovation Business in order to achieve additional growth in this region, Hitachi will accelerate its aggressive investments in these key businesses, including the enhancement of resources in upstream business areas, such as additional R&D investment focused on increased collaboration with customers.
In the company's 2015 Mid-term Management Plan, for which FY2015 is the final year, Hitachi has set a goal of achieving an overseas sales ratio of more than 50%, through expanding business in global markets. The company has created strategies for global regional management for India, beginning in December 2012, for China starting in June 2014, and for other parts of Asia starting in November 2014. The Chief Executives in these regions - who have authority for investments in new business areas that are expected to demonstrate growth as well as responsibility for recovering those investments and achieving profits - are promoting a transformation to an “Autonomous Decentralized Global Management” structure, in which each region conducts business autonomously.
In North America, there has been a steady recovery since the downturn in the economy resulting from the financial crisis in 2008, with this region now playing a leading role in the growth of the global economy. Hitachi is also striving to further expand its business in North America as an important strategic region, rolling out business activity that has resulted in over 8.8 billion U.S. dollars in revenues, which now accounts for 10% of the revenues for the Group as a whole. Hitachi currently has about 20,000 employees and 600 R&D professionals in the region, with domestic staff accounting for about 60% of top management at all Group companies throughout North America. With this approach, Hitachi continues to strive to undertake activities with established, close ties to North American society. At present, the Group is actively rolling out business in areas including data storage, where Hitachi already boasts a leading share of the global market, as well as areas that are expected to see continued market growth, such as automotive devices and Particle Beam Therapy cancer treatment systems that incorporate cutting-edge medical technologies.
Looking at more recent developments, in February of this year Hitachi Data Systems Corporation reached an agreement on the acquisition of Pentaho Corporation, which develops Big Data analysis software. In November 2014, Hitachi Metals, Ltd. acquired Waupaca Foundry Holdings, Inc., which is involved in a wide range of business in the iron casting field, where it has large-scale production capacity. Since 2012, Hitachi Automotive Systems, Ltd. has increased production and built new plants in the state of Georgia in the U.S. and in the Mexican states of Queretaro and Mexico. From 2011 to 2012, Hitachi received orders from large general hospitals and pediatric research hospitals in the United States for Particle Beam Therapy cancer treatment systems, which have gained attention as a cutting-edge treatment method that can treat cancer effectively and painlessly, while maintaining quality of life (QOL) for patients. In this way, Hitachi strives to contribute to the improvement of lives and development of a better future for North American society.
This year's “Hitachi Social Innovation Forum 2015 in North America” is a kickoff event, aimed at strengthening business in North America and all other regions of the Americas, where substantial growth is expected in the future. John Domme, Chief Executive for the Americas, will take the lead in “collaborative creation” activities, in which Hitachi devises and creates solutions to serious issues by working closely with customers, focusing on solutions targeting the energy, automotive device, and health care industries, in order to contribute to the further growth of the company's Social Innovation Business. Hitachi will form growth strategies targeting the upcoming fiscal year, following the 2015 Mid-term Management Plan, while at the same time expanding its Social Innovation Business in order to contribute to the development of all regions in the Americas, and to achieving a sustainable society.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, health care and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
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