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Daily News

Hitachi Half-Year Profits Down 39%
Nov 1, 2005
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Hitachi Ltd. (Tokyo) posted a 39 percent decrease in operating income for the second quarter of fiscal 2005, ended Sept. 30, 2005. The diversified electronics and appliances maker recorded operating income of 77.7 billion yen (approx. U.S. $667 million), 39-percent less than in the same period in 2004.

Hitachi's consolidated business results for the half-year includes revenues of 4,413.3 billion yen (approx. $37.9 billion), up 2 percent from 2004. Net loss for the period was 10.9 billion yen (approx. $93.5 million).

Hitachi blames the lower operating income on lower earnings in its Electronic Devices and Information & Telecommunications Systems business units and an operating loss in the Digital Media and Consumer Products business segment. Higher operating incomes came from Power & Industrial Systems, high Functional Materials & Components and Financial Services business segments.

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