Hitachi, Ltd. announces an Equity Buyback for 21,000,000 shares, representing 2.27% for ¥200,000 million.
April 26, 2024 at 02:00 am EDT
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Hitachi, Ltd. (TSE:6501) announces a share repurchase program. Under the program, the company will repurchase up to 21,000,000 shares, representing 2.27% of its total shares outstanding (excluding treasury shares), for a total of ¥200,000 million. The purpose of repurchase program is to increase the return of profits to shareholders.
The repurchase program is valid till March 31, 2025. As of March 31, 2024, the company had 926,621,704 shares outstanding (excluding treasury shares) and had 546,173 shares in treasury.
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. 
