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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Hitachi, Ltd.    6501   JP3788600009

HITACHI, LTD.

(6501)
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Hitachi : looks to expand energy business abroad after ABB deal

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07/02/2020 | 06:58am EDT

Hitachi Ltd. said Thursday it is aiming to expand its energy-related business in overseas markets, after completing the previous day its acquisition of the power grid business of Swiss engineering group ABB Ltd.

"We would like to offer advanced energy solutions to the world and lead innovations with our digital technologies," CEO Toshiaki Higashihara said in an online press conference.

The Japanese information and infrastructure giant bought an 80.1 percent stake in ABB's power grid business for around 740 billion yen ($6.9 billion) in Hitachi's largest-ever corporate acquisition and set up Hitachi ABB Power Girds Ltd. in Zurich, Switzerland.

Hitachi plans to obtain the remaining stake in the new company, making it wholly-owned in 2023 or later.

"We have obtained a great asset to make Hitachi fly high as a significant global company," Higashihara said.

Hitachi and ABB had reached the deal in 2018.

Through the acquisition, the Hitachi group newly employs about 36,000, focusing on enhancing its businesses in Europe, South America and the Middle East.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 0.71% 24.2 Delayed Quote.3.55%
HITACHI, LTD. 1.54% 3563 End-of-day quote.-22.98%
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Financials
Sales 2021 8 114 B 76 000 M 76 000 M
Net income 2021 400 B 3 748 M 3 748 M
Net Debt 2021 722 B 6 764 M 6 764 M
P/E ratio 2021 8,58x
Yield 2021 2,65%
Capitalization 3 445 B 32 216 M 32 268 M
EV / Sales 2021 0,51x
EV / Sales 2022 0,43x
Nbr of Employees 301 056
Free-Float 95,8%
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Technical analysis trends HITACHI, LTD.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 12
Average target price 4 785,00 JPY
Last Close Price 3 563,00 JPY
Spread / Highest target 62,8%
Spread / Average Target 34,3%
Spread / Lowest Target -1,77%
EPS Revisions
Managers
NameTitle
Toshiaki Higashihara President, Chief Executive Officer & Director
Hiroaki Nakanishi Chairman
Mitsuaki Nishiyama Chief Financial Officer & Senior GM-Finance
Norihiro Suzuki CTO, Managing Executive Officer, Manager-R&D Group
George William Buckley Independent Outside Director
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