Hitachi, Ltd. announced the appointment of Shunsuke Ohtsu, managing director Hitachi Asia Ltd., as CEO for Asia, effective Aug. 1, 2006. The CEO for Asia is the Hitachi Group's senior representative for all Asian countries, except Japan and China. In this capacity, Ohtsu is responsible for developing the business strategy for the group and promoting business localization in the Asian region. Other responsibilities include developing and conducting new businesses leveraging group synergies, strengthening relationships with important customers and governing brand and risk management in this region.
In April 2003, the Hitachi Group established the regional chief executive system with senior representative responsibilities for the group. These individuals represent the social and customer interests in each region. The Hitachi Group's aim in establishing this system is to promote operations as a "truly local company" in each geographic region by conducting business based on strategies that suit the characteristics of the particular region. Hitachi has already appointed full-time executive officers and directors as regional chief executive officers for North America, Europe and China. In each region, the regional chief executive will drive efforts to efficiently utilize the management resources of the entire Hitachi Group and formulate as well as execute strategies carefully tailored to each region.
Asian economies at present are characterized by steadily growing consumer spending, as well as healthy exports and capital expenditures. The Indian economy, in particular, has recorded high growth, driven by the IT and financial services industries; the real GDP growth rate in the Indian economy in 2005 was 8.0 percent. With internal demand also growing, boosted by higher consumer spending as employment and wage environments improve, India is expected to continue experiencing high economic growth. Markets in ASEAN countries are also expected to expand, based on healthy exports and capital expenditures in Thailand and Indonesia, rising income levels and other factors.
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