[Translation]
Quarterly Report
(The Second Quarter of 154th Business Term)
From July 1, 2022 to September 30, 2022
6-6, Marunouchi 1-chome,Chiyoda-ku, Tokyo
Hitachi, Ltd.
[Cover]
[Document Filed]
[Applicable Law]
[Filed with]
[Filing Date]
[Fiscal Year]
[Company Name]
[Company Name in English]
[Title and Name of Representative]
[Address of Head Office]
[Phone No.]
[Contact Person]
[Contact Address]
[Phone No.]
[Contact Person]
[Place Where Available for Public Inspection]
Quarterly Report ("Shihanki Hokokusho")
Article 24-4-7, Paragraph 1 of the Financial Instruments and Exchange Act of Japan
Director, Kanto Local Finance Bureau
November 11, 2022
The Second Quarter of 154th Business Term (from July 1, 2022 to September 30, 2022)
Kabushiki Kaisha Hitachi Seisakusho
Hitachi, Ltd.
Keiji Kojima, President & CEO
6-6, Marunouchi 1-chome,Chiyoda-ku, Tokyo
03-3258-1111
Takahiro Yamada, Manager, Legal Division
6-6, Marunouchi 1-chome,Chiyoda-ku, Tokyo
03-3258-1111
Takahiro Yamada, Manager, Legal Division
Tokyo Stock Exchange, Inc.
(2-1, Nihombashi Kabutocho, Chuo-ku, Tokyo)
Nagoya Stock Exchange, Inc.
(8-20, Sakae 3-chome,Naka-ku, Nagoya)
This is an English translation of the Quarterly Report filed with the Director of the Kanto Local Finance Bureau via Electronic Disclosure for Investors' NETwork ("EDINET") pursuant to the Financial Instruments and Exchange Act of Japan.
The translation of the Confirmation Letter for the original Quarterly Report is included at the end of this document. Unless the context indicates otherwise, the term "Company" refers to Hitachi, Ltd. and the term "Hitachi" refers to the
Company and its consolidated subsidiaries.
Unless otherwise stated, in this document, where we present information in millions or hundreds of millions of yen, we have truncated amounts of less than one million or one hundred million, as the case may be. Accordingly, the total of figures presented in columns or otherwise may not equal the total of the individual items. We have rounded all percentages to the nearest percent, one- tenth of one percent or one-hundredth of one percent, as the case may be.
References in this document to the "Financial Instruments and Exchange Act" are to the Financial Instruments and Exchange Act of Japan and other laws and regulations amending and/or supplementing the Financial Instruments and Exchange Act of Japan.
Contents
Part I Information on the Company ……………………………………………………………………………………………… | 1 |
I. Overview of the Company …………………………………………………………………………………………………… | 1 |
1. Key Financial Data ……………………………………………………………………………………………………… | 1 |
2. Description of Business …………………………………………………………………………………………………… | 2 |
II. Business Overview ………………………………………………………………………………………………………… | 4 |
1. Risk Factors ……………………………………………………………………………………………………………… | 4 |
2. Management's Discussion and Analysis of Consolidated Financial Condition, Results of Operations and Cash Flows … | 4 |
3. Material Agreements, etc. ………………………………………………………………………………………………… | 9 |
III. Information on the Company ……………………………………………………………………………………………… | 10 |
1. Information on the Company's Stock, etc. ……………………………………………………………………………… | 10 |
(1) Total number of shares, etc. …………………………………………………………………………………………… | 10 |
(2) Information on the stock acquisition rights, etc. ……………………………………………………………………… | 10 |
(3) Information on moving strike convertible bonds, etc. ………………………………………………………………… | 10 |
(4) Changes in the total number of issued shares and the amount of common stock and other ………………………… | 10 |
- Major shareholders …………………………………………………………………………………………………… 11
- Information on voting rights ………………………………………………………………………………………… 12
2. Changes in Senior Management ………………………………………………………………………………………… 13 IV. Financial Information ……………………………………………………………………………………………………… 13
Part II Information on Guarantors, etc. for the Company ………………………………………………………………………… | 13 |
[Condensed Quarterly Consolidated Financial Statements] ……………………………………………………………………… | F1 |
[Confirmation Letter] ……………………………………………………………………………………………………………… A1
Part I Information on the Company
I. Overview of the Company
1. Key Financial Data Consolidated financial data, etc.
(Millions of yen, unless otherwise stated)
Six months ended | Six months ended | Year ended | |
September 30, 2021 | September 30, 2022 | March 31, 2022 | |
Revenues | 4,832,665 | 5,416,779 | 10,264,602 |
[2,465,228] | [2,846,963] | ||
Income before income taxes | 420,107 | 282,145 | 839,333 |
Net income attributable to Hitachi, Ltd. | 322,444 | 172,515 | 583,470 |
stockholders | [200,213] | [135,357] | |
Comprehensive income attributable to Hitachi, | 366,183 | 681,216 | 958,008 |
Ltd. stockholders | |||
Total Hitachi, Ltd. stockholders' equity | 3,824,891 | 4,851,087 | 4,341,836 |
Total equity | 4,750,232 | 5,518,818 | 5,355,277 |
Total assets | 12,879,522 | 13,617,345 | 13,887,502 |
Earnings per share attributable to Hitachi, Ltd. | 333.67 | 180.01 | 603.75 |
stockholders, basic (yen) | [207.17] | [142.17] | |
Earnings per share attributable to Hitachi, Ltd. | 333.24 | 179.83 | 602.96 |
stockholders, diluted (yen) | |||
Total Hitachi, Ltd. stockholders' equity ratio (%) | 29.7 | 35.6 | 31.3 |
Net cash provided by (used in) operating | 161,468 | 233,652 | 729,943 |
activities | |||
Net cash provided by (used in) investing | (951,429) | (72,339) | (1,048,866) |
activities | |||
Net cash provided by (used in) financing | 646,539 | (338,473) | 202,739 |
activities | |||
Cash and cash equivalents at end of period | 880,966 | 866,016 | 968,827 |
(Notes) 1. Hitachi's consolidated financial statements have been prepared in conformity with the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.
2. The figures of "Revenues," "Net income attributable to Hitachi, Ltd. stockholders" and "Earnings per share attributable to Hitachi, Ltd. stockholders, basic" in square bracket are those for the three months ended September 30, 2021 and 2022, respectively.
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2. Description of Business
There were no material changes in principal businesses of Hitachi during the six months ended September 30, 2022. The Hitachi Group is comprised of the Company, 770 consolidated subsidiaries, and 368 equity-method associates and joint-ventures.
Effective from April 1, 2022, the Company reclassified its reportable segments in seven segments: three sectors as "Digital Systems & Services," "Green Energy & Mobility" and "Connective Industries," Automotive Systems, two listed subsidiary groups as Hitachi Construction Machinery and Hitachi Metals, and Others.
Major business and the positioning of principal affiliated companies for each segment and changes in Business Unit (BU) of the Company and principal affiliated companies during the six months ended September 30, 2022 were as follows.
(As of September 30, 2022)
Main products and services | BU and principal affiliated companies | |
BU | Affiliated companies | |
Digital Systems & Services | Financial Institutions BU | [Consolidated subsidiaries] |
Digital Solutions (System | Social Infrastructure Systems BU | Hitachi Information & Telecommunication |
Integration, Consulting, Cloud | Services & Platforms BU | Engineering, Ltd. |
Services), IT Products (Storage, | Hitachi Channel Solutions, Corp. | |
Servers), Software, ATMs | Hitachi Solutions, Ltd. | |
Hitachi Systems, Ltd. | ||
GlobalLogic Worldwide Holdings, Inc. | ||
Hitachi Computer Products (America), Inc. | ||
Hitachi Digital LLC (Note 2) | ||
Hitachi Payment Services Private Limited | ||
Hitachi Vantara LLC | ||
Green Energy & Mobility | Power Grids BU | [Consolidated subsidiaries] |
Energy Solutions (Power Grids, | Energy BU | Hitachi-GE Nuclear Energy, Ltd. |
Renewable Energy, Nuclear), | Nuclear Energy BU | Hitachi Plant Construction, Ltd. |
Railway Systems | Railway Systems BU | Hitachi Power Semiconductor Device, Ltd. |
Hitachi Power Solutions Co., Ltd. | ||
Hitachi Energy Ltd | ||
Hitachi Rail Ltd. | ||
Connective Industries | Building Systems BU | [Consolidated subsidiaries] |
Building Systems (Elevators, | Industrial Digital BU | Hitachi Building Systems Co., Ltd. |
Escalators), | Water & Environment BU | Hitachi Global Life Solutions, Inc. |
Smart Life & Ecofriendly Systems | Hitachi High-Tech Corporation | |
(Home Appliances, Air | Hitachi Industrial Equipment Systems Co., | |
Conditioners), | Ltd. | |
Measurement and Analytical | Hitachi Industrial Products, Ltd. | |
Systems (Medical and Bio, | Hitachi Industry & Control Solutions, Ltd. | |
Semiconductor, Industry), | Hitachi Plant Services Co., Ltd. | |
Industry & Distribution Solutions, | Hitachi Elevator (China) Co., Ltd. | |
Water & Environment Solutions, | Hitachi Industrial Holdings Americas, Inc. | |
Industrial Machinery | JR Technology Group, LLC | |
Sullair, LLC | ||
[Equity-method associates] | ||
Hitachi Kokusai Electric Inc. | ||
Arcelik Hitachi Home Appliances B.V. | ||
Johnson Controls-Hitachi Air Conditioning | ||
Holding (UK) Ltd | ||
Automotive Systems | - | [Consolidated subsidiaries] |
Powertrain, Chassis, Advanced | Hitachi Astemo, Ltd. | |
Driver Assistance, Motorcycle | Hitachi Astemo Americas, Inc. | |
Systems | ||
Hitachi Construction Machinery | - | [Consolidated subsidiaries] |
Hydraulic Excavators, Wheel | - (Note 3) | |
Loaders, Mining Machinery, | ||
Maintenance and Services, | ||
Construction Solutions, Mine | ||
Management Systems | ||
Hitachi Metals | - | [Consolidated subsidiaries] |
Specialty Steel Products, | Hitachi Metals, Ltd. | |
Functional Components and | ||
Equipment, Magnetic Materials and | ||
Power Electronics Materials, | ||
Wires, Cables and Related Products | ||
Others | - | [Consolidated subsidiaries] |
Optical Disk Drives, Property | Hitachi-LG Data Storage, Inc. | |
Management | Hitachi Real Estate Partners, Ltd. | |
Hitachi America, Ltd. | ||
Hitachi Asia Ltd. | ||
Hitachi (China), Ltd. | ||
Hitachi Europe Ltd. | ||
Hitachi India Pvt. Ltd. |
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Hitachi Ltd. published this content on 29 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2022 09:23:16 UTC.