Hitachi : Quarterly Report (First Quarter) (PDF format, 568 kBytes)

[Translation]

Quarterly Report

(The First Quarter of 153rd Business Term)

From April 1, 2021 to June 30, 2021

6-6, Marunouchi 1-chome,Chiyoda-ku, Tokyo

Hitachi, Ltd.

[Cover]

[Document Filed]

[Applicable Law]

[Filed with]

[Filing Date]

[Fiscal Year]

[Company Name]

[Company Name in English]

[Title and Name of Representative]

[Address of Head Office]

[Phone No.]

[Contact Person]

[Contact Address]

[Phone No.]

[Contact Person]

[Place Where Available for Public Inspection]

Quarterly Report ("Shihanki Hokokusho")

Article 24-4-7, Paragraph 1 of the Financial Instruments and Exchange Act of Japan

Director, Kanto Local Finance Bureau

August 5, 2021

The First Quarter of 153rd Business Term (from April 1, 2021 to June 30, 2021)

Kabushiki Kaisha Hitachi Seisakusho

Hitachi, Ltd.

Keiji Kojima, President & COO

6-6, Marunouchi 1-chome,Chiyoda-ku, Tokyo

03-3258-1111

Takahiro Yamada, Manager, Legal Division

6-6, Marunouchi 1-chome,Chiyoda-ku, Tokyo

03-3258-1111

Takahiro Yamada, Manager, Legal Division

Tokyo Stock Exchange, Inc.

(2-1, Nihombashi Kabutocho, Chuo-ku, Tokyo)

Nagoya Stock Exchange, Inc.

(8-20, Sakae 3-chome,Naka-ku, Nagoya)

This is an English translation of the Quarterly Report filed with the Director of the Kanto Local Finance Bureau via Electronic Disclosure for Investors' NETwork ("EDINET") pursuant to the Financial Instruments and Exchange Act of Japan.

The translation of the Confirmation Letter for the original Quarterly Report is included at the end of this document. Unless the context indicates otherwise, the term "Company" refers to Hitachi, Ltd. and the term "Hitachi" refers to the

Company and its consolidated subsidiaries.

Unless otherwise stated, in this document, where we present information in millions or hundreds of millions of yen, we have truncated amounts of less than one million or one hundred million, as the case may be. Accordingly, the total of figures presented in columns or otherwise may not equal the total of the individual items. We have rounded all percentages to the nearest percent, one- tenth of one percent or one-hundredth of one percent, as the case may be.

References in this document to the "Financial Instruments and Exchange Act" are to the Financial Instruments and Exchange Act of Japan and other laws and regulations amending and/or supplementing the Financial Instruments and Exchange Act of Japan.

Contents

Part I Information on the Company ………………………………………………………………………………………………	1
I. Overview of the Company ……………………………………………………………………………………………………	1
1. Key Financial Data ………………………………………………………………………………………………………	1
2. Description of Business ……………………………………………………………………………………………………	2
II. Business Overview …………………………………………………………………………………………………………	3
1. Risk Factors ………………………………………………………………………………………………………………	3
2. Management's Discussion and Analysis of Consolidated Financial Condition, Results of Operations and Cash Flows …	3
3. Material Agreements, etc. …………………………………………………………………………………………………	8
III. Information on the Company ………………………………………………………………………………………………	9
1. Information on the Company's Stock, etc. ………………………………………………………………………………	9
(1) Total number of shares, etc. ……………………………………………………………………………………………	9
(2) Information on the stock acquisition rights, etc. ………………………………………………………………………	9
(3) Information on moving strike convertible bonds, etc. …………………………………………………………………	9
(4) Changes in the total number of issued shares and the amount of common stock and other …………………………	9
(5) Major shareholders ……………………………………………………………………………………………………	9

1. Information on voting rights ………………………………………………………………………………………… 10

2. Changes in Senior Management ………………………………………………………………………………………… 10 IV. Financial Information ……………………………………………………………………………………………………… 11

Part II Information on Guarantors, etc. for the Company …………………………………………………………………………	11
[Condensed Quarterly Consolidated Financial Statements] ………………………………………………………………………	F1

[Confirmation Letter] ……………………………………………………………………………………………………………… A1

Part I Information on the Company

I. Overview of the Company

1. Key Financial Data Consolidated financial data, etc.

(Millions of yen, unless otherwise stated)

Revenues

Income from continuing operations, before income taxes

Net income attributable to Hitachi, Ltd. stockholders

Comprehensive income attributable to Hitachi, Ltd. stockholders

Total Hitachi, Ltd. stockholders' equity

Total equity

Total assets

Earnings per share attributable to Hitachi, Ltd. stockholders, basic (yen)

Earnings per share attributable to Hitachi, Ltd. stockholders, diluted (yen)

Total Hitachi, Ltd. stockholders' equity ratio (%)

Net cash provided by operating activities

Net cash provided by (used in) investing activities

Net cash provided by (used in) financing activities

Cash and cash equivalents at end of period

Three months ended June	Three months ended June	Year ended
30, 2020	30, 2021	March 31, 2021
1,594,277	2,367,437	8,729,196
339,709	166,855	844,443
223,251	122,231	501,613
242,291	127,022	838,237
3,036,533	3,594,003	3,525,502
3,700,850	4,503,107	4,458,232
10,160,516	11,899,746	11,852,853
231.13	126.49	519.29
230.86	126.33	518.51
29.9	30.2	29.7
153,796	137,071	793,128
357,457	(7,054)	(458,840)
526,681	10,698	(184,838)
1,851,083	1,161,989	1,015,886

(Notes) 1. Hitachi's consolidated financial statements have been prepared in conformity with the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.

2. Revenues do not include the consumption tax, etc.

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2. Description of Business

There were no material changes in principal businesses of Hitachi during the three months ended June 30, 2021. The Hitachi Group is comprised of the Company, 865 consolidated subsidiaries, and 274 equity-method associates and joint-ventures.

Changes in Business Unit (BU) of the Company and principal affiliated companies during the three months ended June 30,

2021 were as follows.

				(As of June 30, 2021)
Main products and services		BU and principal affiliated companies
BU		Affiliated companies
				[Consolidated subsidiaries]
IT
				(Change in company name) (Note 1)
				Hitachi Global Digital Holdings LLC
Energy		(New) (Note 2)		[Consolidated subsidiaries]
		Power Grid BU		(Change in company name) (Note 3)
				Hitachi Energy Ltd
Automotive Systems		[Consolidated subsidiaries]
(Reclassification of segment) (Note		(Reclassification of segment) (Note 4)
4)				Hitachi Astemo, Ltd.
Automotive Systems (Powertrain,		Hitachi Astemo Americas, Inc.
Chassis, Advanced Driver
Assistance, Motorcycle)
(Notes) 1.	Hitachi Global Digital Holdings Corporation changed its name to Hitachi Global Digital Holdings LLC on April 1, 2021.

1. Power Grid BU was newly established on April 1, 2021.
2. Hitachi ABB Power Grids Ltd changed its name to Hitachi Energy Ltd on June 30, 2021.
3. Hitachi Astemo, Ltd., Hitachi Astemo Americas, Inc. and their main products and services, Automotive Systems, were spun off from the Smart Life segment to the Automotive Systems segment newly established on April 1, 2021.
4. In addition to the table above, Hitachi Capital Corporation, which was the major equity-method associates of the Company, merged with Mitsubishi UFJ Lease & Finance Company Limited (currently Mitsubishi HC Capital Inc.) and ceased to be an equity-method affiliate of the Company on April 1, 2021.

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