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Hitachi Appliances Suffer Lower Sales in Japan; Revenues Down
Nov 1, 2012
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Hitachi, Ltd. (Tokyo) reported fiscal 2012 second quarter revenues of 2,234,853 million yen (approx. US$27,895 million), from 2,422,036 million yen in the same period a year ago.

In its fiscal year second quarter, ending Sept. 30, 2012, net income was 45,133 million yen, (approx. $563 million), from 61,458 million yen in the same quarter in the previous year.

In Hitachi's Digital Media & Consumer Products business, which includes its home appliances business, revenues were 210.2 billion yen, or $2695 million, down 12% from the same quarter in the previous year. The business segment's operating loss was 2.4 billion yen, or $31 million.

For the first six months of fiscal 2012 revenues were 428.7 billion yen, or $5497 million, down 9% from the first half of fiscal 2011. Operating loss for the first half was 2.4 billion yen, or $31 million.

The results were the result of reduced demand for TVs and reduced sale prices on optical drive products. TV and optical drive products contributed to the loss, as did lower sales, primarily in Japan, of home appliances and air-conditioners.

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