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    6501   JP3788600009

HITACHI, LTD.

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Hitachi to sell overseas home appliance business to Turkey's Arcelik

12/13/2020 | 12:19am EDT

Hitachi Ltd. is in the final stages of talks to sell a 60 percent stake in its overseas home appliance business to Arcelik A.S. of Turkey for around $300 million, a person familiar with the matter said Saturday.

The Japanese conglomerate plans to sell the stake in the business run by its home appliance unit Hitachi Global Life Solutions Inc., as it seeks to establish sales channels in Europe and other markets abroad through the Turkish company's networks, the person said.

Hitachi is in the midst of a restructuring drive to return its focus to its core operations such as infrastructure and information technology.

As part of such efforts, the company is considering selling all or part of its stake in its Hitachi Construction Machinery Co. and Hitachi Metals Ltd. subsidiaries, according to sources close to the matter.

Its home appliance business posted sales of 465.3 billion yen ($4.5 billion) in the year ended March 2020, mostly derived from the domestic market. China and other Asian nations remain the business's main overseas markets.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ARÇELIK ANONIM SIRKETI -1.24% 30.18 End-of-day quote.-0.72%
HITACHI CONSTRUCTION MACHINERY CO., LTD. -0.44% 3370 End-of-day quote.15.02%
HITACHI METALS, LTD. 0.00% 2122 End-of-day quote.35.50%
HITACHI, LTD. -0.63% 6142 End-of-day quote.51.09%
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Financials
Sales 2022 9 530 B 86 092 M 86 092 M
Net income 2022 516 B 4 661 M 4 661 M
Net Debt 2022 1 678 B 15 162 M 15 162 M
P/E ratio 2022 11,7x
Yield 2022 1,88%
Capitalization 6 053 B 54 632 M 54 679 M
EV / Sales 2022 0,81x
EV / Sales 2023 0,74x
Nbr of Employees 350 864
Free-Float 95,7%
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Technical analysis trends HITACHI, LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Last Close Price 6 258,00 JPY
Average target price 6 713,93 JPY
Spread / Average Target 7,29%
EPS Revisions
Managers and Directors
NameTitle
Toshiaki Higashihara President, Chief Executive Officer & Director
Yoshihiko Kawamura Chief Financial Officer
Norihiro Suzuki Chief Technology Officer, Manager-R&D Group
Seiichiro Nukui Chief Information Officer
George William Buckley Independent Non-Executive Director
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