Hitachi Announces Consolidated Finiancial Results for Fiscal 2019, end March 31, 2020

Latest Update June 23, 2020
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For fiscal 2019’s the Hitachi consolidated revenues decreased 8% year over year, to 8,767.2 billion yes. Inaddition to decrease in revenues due to the COVID-19 impact in all segment, the revenues decreased mainly in Hitachi Meatals Segment where sales were affected by the decrease in demand for automobile, semiconductor and factory automation, the Other segment where Hitachi Kokusai Electric Inc. was converted to an equity-method associate in June 2018, the Energy segment where revenues from projects related to new nuclear regulation decreased in Nuclear Energy Business Unit, and the Smart Life segment where car information systems business and other businesses were divested in automotive sysyems business.

Adjusted operating incom decreased 93.0 billion yen year over year, to 661.8 billion yen. The decrease was due to the decline in profit in Hitachi Construction Machinery segment and Hitachi Metal segment despite the increase in profit in the Industry segment and the IT segment.

Income from continuing operations, before income taxes, decreased 336.2 billion yen year over year, to 180.2 billion yen. After deducting income taxes of 51.2 billion yen, Hitachi posted income from continuing operation od 129.0 billion yen, down 201.1 billion yen year to year.