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Hitachi identifies India as a Key Management Area (PDF Type, 107 kByte)
Aug 29, 2011
Hitachi identifies India as a Key Management Area
~ Hitachi India appointed as the Hitachi Group’s Fifth Regional Headquarters ~
New Delhi, August 29, 2011 – Hitachi, Ltd. (NYSE:HIT / TSE:6501) announced that it has identified India as a fifth key management area. The move is part of Hitachi’s “New Globalization Plan” (a) comprising measures to accelerate growth strategy of the Social Innovation Business, which is made up of social infrastructure supported by highly reliable and highly efficient information and telecommunications technology.
India, which was a part of Hitachi Asia Ltd. (the regional Headquarters for Asia business), has been re-positioned as an independent management area and Hitachi India Pvt. Ltd. (“Hitachi India”) will lead other Hitachi Group entities in India to strengthen structures to enable faster business rollout in India. India will join China, Southeast Asia, Europe and the Americas as key management areas outside of Japan for Hitachi.
Mr. Ichiro Iino, Managing Director, Hitachi India Pvt. Ltd., said, “India is demonstrating dramatic growth and we are confident that this new structure will support the growth momentum and enable us to respond more effectively to the unique local customers’ needs in India.”
“Hitachi India’s responsibilities and authority in the context of business operations will be expanded, and the company’s staff will be increased, mainly in the Corporate Division in order to support the smooth rollout of business at Hitachi Group companies -for example, by sharing accumulated expertise among the Hitachi Group companies” he further added.
Since it began Indian business operation in the 1930s, Hitachi has been involved in a variety of business activities, including the manufacture and sales of air conditioning equipments and construction machinery. In 2010, Hitachi established BGR Turbines Company Pvt. Ltd. and BGR Boilers Company Pvt. Ltd. as joint ventures with a local company, and has been working to expand the thermal power business in India.
India is expected to see power plants, steel works and petrochemical plants constructed as its economy grows rapidly. Moreover, demand is rising in the country for inverter systems and uninterrupted power supplies (UPS) to ensure stable operations, conserve energy and handle power fluctuations at these plants. Increased investment is also predicted in renewable energy to create a low-carbon society while achieving economic growth.
In the Information & Telecommunication System business fields, Hitachi is expanding its bases in India, for example by establishing new companies and acquiring existing companies, to strengthen offshore functions in the IT consulting business. In January 2011, an office of the Hitachi Research Institute, named “Economy and Industry Center”, was opened in Delhi, and a new R&D base for the Information & Telecommunication Systems business field is scheduled to open in Bangalore by March 2012.
Hitachi’s plan is to expand its business by enhancing structures with a focus on Hitachi India based on the experience and organizations cultivated through Hitachi’s past operations in India. The plan calls for consolidated sales growth up to approximately 200 billion yen in the next few fiscal years within the Hitachi Group in India, whose sales for fiscal 2010 were approximately 90 billion yen.
(a) New Globalization Plan: http://www.hitachi.com/New/cnews/110608a.html
About Hitachi Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company’s consolidated revenues for fiscal year 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and it employed approximately 301,000 people worldwide. Hitachi drives digital innovation across five sectors – Mobility, Smart Life, Industry, Energy and IT – through Lumada, Hitachi’s advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. Its purpose is to deliver solutions that increase social, environmental and economic value for its customers. For more information on Hitachi, please visit the company’s website at www.hitachi.com.