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    6501   JP3788600009

HITACHI, LTD.

(6501)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 06/15
6100 JPY   +1.13%
06/10HITACHIá : Overview of Strategic Direction
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06/07HITACHIá : IT Sector (PDF format, 3,626kBytes)
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06/07HITACHIá : Industry Sector (PDF format, 6,317kBytes)
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UPDATE1: Hitachi logs record net profit in FY2020 on IT-related sales

04/28/2021 | 04:28am EDT

Hitachi Ltd. said Wednesday its group net profit in the year that ended in March jumped nearly six-fold from a year earlier to a record 501.61 billion yen ($4.6 billion) due to robust demand for IT-related services and cost-cutting efforts.

The outcome, also boosted by a special profit of 278.8 billion yen from the sale of its chemical unit to Showa Denko K.K. in the April-June quarter, beat its earnings projection released in February for a net profit of 370 billion yen.

The Japanese industrial conglomerate said on the same day that it will sell a more than 50 percent stake in its metals unit for 382 billion yen to a consortium of investment funds led by U.S. private equity fund Bain Capital.

Hitachi Metals Ltd., currently listed on the Tokyo Stock Exchange, posted a net loss of 42.2 billion yen in the year through March, a record red-ink figure for the second consecutive year. It has also announced that it will cut about 3,200 jobs mainly in Japan.

Hitachi has rapidly overhauled its group businesses to concentrate on the information technology sector, while shedding non-core operations.

In fiscal 2020, Hitachi posted a group operating profit of 495.18 billion yen, down 25.2 percent, on sales of 8.73 trillion yen, down 0.4 percent.

Hitachi projects that its net profit will rise 9.6 percent to 550 billion yen in the year ending March 2022.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HITACHI METALS, LTD. 0.00% 2123 End-of-day quote.35.57%
HITACHI, LTD. 1.13% 6100 End-of-day quote.50.06%
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Financials
Sales 2022 9 530 B 86 559 M 86 559 M
Net income 2022 516 B 4 686 M 4 686 M
Net Debt 2022 1 678 B 15 244 M 15 244 M
P/E ratio 2022 11,4x
Yield 2022 1,93%
Capitalization 5 898 B 53 565 M 53 568 M
EV / Sales 2022 0,79x
EV / Sales 2023 0,73x
Nbr of Employees 350 864
Free-Float 95,7%
Chart HITACHI, LTD.
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Hitachi, Ltd. Technical Analysis Chart | MarketScreener
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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
Average target price 6 713,93 JPY
Last Close Price 6 100,00 JPY
Spread / Highest target 31,6%
Spread / Average Target 10,1%
Spread / Lowest Target -42,3%
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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