Hitachi Awarded Largest Contract in Singapore to Supply 450 Lifts at HDB Blocks

HDB Flats in Singapore

Singapore, July 24, 2024 – Hitachi, Ltd. (TSE: 6501; hereafter Hitachi) today announced that Hitachi Elevator Asia Pte. Ltd. (hereafter Hitachi Elevator Asia) has been awarded the supply and installation of 450 lifts by the Housing & Development Board (hereafter HDB) in Singapore. The project won this time is to supply elevators for high-rise residential buildings to be built from 2027 to 2029 in various public housing areas in the country. This is by far the largest order for Hitachi group's lifts and escalators in Singapore, surpassing the 300 units ordered for HDB in 2019*1, 2020*2 and 2022.

"We are excited to announce that we have once again been awarded a significant contract. By providing the lifts with the latest technology, we aim to ensure safety, security, and comfort for everyone and look forward to serving and supporting more Singaporeans in the years ahead," said Siew Yat Hung, Managing Director, Hitachi Elevator Asia.

Hitachi Elevator Asia aims to maintain its position within the top 3 in terms of the number of orders received for newly installed lifts in Singapore in the fiscal year 2024, through this project.

Leveraging on our Digital, Green and Innovative technologies, Hitachi will continue to provide safe, secure and comfortable lifts as well as escalators for urban living and contribute towards a sustainable society.

*1

News release dated May 19, 2020 titled Hitachi Awarded Contract to Supply, Install 300 Lifts at HDB Blocks in Singapore

*2

News release dated September 2, 2020 titled Hitachi Successfully Clinches Another Contract to Supply and Install 300 Lifts at HDB Blocks in Singapore

Hitachi's Elevators and Escalators Business in Singapore

Since its establishment in 1972, Hitachi Elevator Asia, former Hitachi Elevator Engineering (S) Pte. Ltd., has been providing a large number of lifts and escalators, including moving sidewalks, for major facilities such as the National University of Singapore, Changi International Airport, and the tallest building in Singapore, Guoco Tower, formerly known as Tanjong Pagar Centre. It has been leading the lifts and escalators industry in Singapore.

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About Hitachi Elevator Asia Pte. Ltd.

Hitachi Elevator Asia Pte. Ltd., renamed in 2010, was established in 1972 as Hitachi Elevator Engineering (S) Pte. Ltd. The company is well recognised for its quality products and high service standards, having installed lifts and escalators for residential, hotel and office buildings. The company leverages on its talented team and proven experience in global markets to bring high-quality innovations, reliable technologies and efficient production processes to our customers. For more information on Hitachi Elevator Asia, please visit the company's website at http://www.hea.hitachi.com.sg.

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the 3 business sectors of "Digital Systems & Services" – supporting our customers' digital transformation; "Green Energy & Mobility" – contributing to a decarbonized society through energy and railway systems, and "Connective Industries" – connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company's revenues as 3 sectors for fiscal year 2023 (ended March 31, 2024) totaled 8,564.3 billion yen, with 573 consolidated subsidiaries and approximately 270,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.