Transfer of Shares
TOKYO, Mar 30, 2016 - (ACN Newswire) - Hitachi, Ltd. (TSE:6501; "Hitachi") today announced that it has concluded an agreement regarding the transfer of common stocks of Hitachi Transport System, Ltd. (President and CEO: Yasuo Nakatani, "HTS"), a consolidated subsidiary of Hitachi. Based on this agreement, a part of shares of HTS common stocks owned by Hitachi will be transferred to SG Holdings Co., Ltd. (President and COO: Tadashi Machida; "SG Holdings").As a result of this transfer of shares, Hitachi's ownership ratio of voting rights will be 30%, and HTS will change from Hitachi's consolidated subsidiary to its associate accounted for using the equity-method.
For more information, visit http://www.hitachi.com/New/cnews/month/2016/03/f_160330a.pdf
About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015) totaled 9,761 billion yen ($81.3 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at www.hitachi.com.
Source: Hitachi, Ltd.
Contact:
Hitachi Ltd Corporate Communications Tel: +81-3-3258-1111
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