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    6501   JP3788600009

HITACHI, LTD.

(6501)
  Report
Delayed Japan Exchange  -  01:00:00 2023-02-01 am EST
6706.00 JPY   -1.12%
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Notice Regarding Completion of Tender Offer for Shares of Hitachi Transport System, Ltd. by HTSK Co., Ltd

12/01/2022 | 10:12am EST

Tokyo - As announced in the press release issued on April 28, 2022 1, Hitachi, Ltd. (TSE: 6501, 'Hitachi') completed a contract concerning the transfer, etc. of shares of common stock of Hitachi Transport System, Ltd. ('Hitachi Transport System') held by Hitachi with HTSK Co., Ltd. (the 'Offeror'), a wholly owned subsidiary of HTSK Holdings Co., Ltd., all equity interests in which are currently owned by HTSK Investment L.P., which is indirectly held and operated by Kohlberg Kravis Roberts & Co. L.P.

The Offeror commenced the tender offer for the common stocks of Hitachi Transport System (the 'Tender Offer') on October 28, 2022, and the Tender Offer was completed on November 29, 2022. Since the total number of shares tendered in the Tender Offer exceeded the minimum number of shares to be purchased, the Tender Offer was successfully completed. For details of the Tender Offer, please refer to 'Announcement of Results of the Tender Offer by HTSK Co., Ltd. for the Shares of Hitachi Transport System, Ltd., and Change in the Parent Company and Largest Shareholder who is a Major Shareholder' announced today by Hitachi Transport System.

Hitachi did not apply the Tender Offer. Instead, it will sell Hitachi Transport System shares held by Hitachi through a share repurchase by Hitachi Transport System which will be implemented after the completion of the Tender Offer. Also, Hitachi will obtain 10.0 billion yen worth of the Offeror Parent's shares with voting rights (equivalent to 10% of the total voting rights).

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company's consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide.

Cautionary Statement

Certain statements found in this document may constitute 'forward-looking statements' as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such 'forward-looking statements' reflect management's current views with respect to certain future events and financial performance and include any statement that does not directly relate to any historical or current fact. Words such as 'anticipate,' 'believe,' 'expect,' 'estimate,' 'forecast,' 'intend,' 'plan,' 'project' and similar expressions which indicate future events and trends may identify 'forward looking statements.' Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or implied in the 'forward looking statements' and from historical trends. Certain 'forward-looking statements' are based upon current assumptions of future events which may not prove to be accurate. Undue reliance should not be placed on 'forward looking statements,' as such statements speak only as of the date of this report.

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HITACHI TRANSPORT SYSTEM, LTD. 0.00% 8900 Delayed Quote.0.11%
HITACHI, LTD. -1.12% 6706 Delayed Quote.1.36%
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Financials
Sales 2023 10 222 B 78 558 M 78 558 M
Net income 2023 623 B 4 787 M 4 787 M
Net Debt 2023 1 442 B 11 078 M 11 078 M
P/E ratio 2023 10,4x
Yield 2023 2,02%
Capitalization 6 359 B 48 867 M 48 867 M
EV / Sales 2023 0,76x
EV / Sales 2024 0,78x
Nbr of Employees 368 247
Free-Float 93,8%
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Technical analysis trends HITACHI, LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 14
Last Close Price 6 782,00 JPY
Average target price 8 351,79 JPY
Spread / Average Target 23,1%
EPS Revisions
Managers and Directors
Keiji Kojima Executive President, CEO & Representative Director
Yoshihiko Kawamura Chief Finance & Risk Management Officer
Toshiaki Higashihara Executive Chairman
Norihiro Suzuki Head-Central Research Institute
Seiichiro Nukui Chief Information Officer & Senior GM-IT Digital
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