Hitachi, Ltd. Announces Earnings Results for the Third Quarter Ended December 31, 2018; Reaffirms Earnings Guidance for the Fiscal Year 2018; Reports Impairment Loss for the Third Quarter Ended December 31, 2018
February 01, 2019 at 01:30 am EST
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Hitachi, Ltd. announced earnings results for the third quarter and nine months ended December 31, 2018. For the quarter, the company reported revenues of JPY 6,782.9 billion, up JPY 108.9 billion year-on-year or 102%. EBIT was JPY 305.4 billion, decline of JPY 167.3 billion year-over-year. Income was JPY 534.5 billion and that is increased by JPY 59.9 billion year-on-year.
The company also reaffirmed earnings guidance for the fiscal year 2018. For the period, the company expects revenue of JPY 9.4 trillion, EBIT of 500 billion. Net income of JPY 180 billion up by JPY 80 billion from the previous forecast of JPY 100 billion.
The company also reported an impairment loss of JPY 277.2 billion in the third quarter of 2018.
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).
Hitachi, Ltd. Announces Earnings Results for the Third Quarter Ended December 31, 2018; Reaffirms Earnings Guidance for the Fiscal Year 2018; Reports Impairment Loss for the Third Quarter Ended December 31, 2018
HITACHI, LTD. 
