According to Nikkei, Hitachi Ltd., a leading global electronics company plans to take full control of 5 listed group firms by spending up to $3 billion on tender offers. Those group firms are Hitachi Maxell Ltd. (TSE#6810), a major manufacturer of magnetic tapes for computers, Hitachi Plant Technologies Ltd(TSE#1970), a plant installation engineering company, Hitachi Information Systems (TSE#9741), a leading data processing company, Hitach Software Engineering Co.(TSE#9694), a major computer software developer and Hitachi System & Services Ltd. (TSE#3735), a computer system integrator.
As the result of a consolidated net loss of $7.8 billion last fiscal year, the company will need to take drastic measures to organize the whole business as well as review its capital relationship with its units under the rein of Takashi Kawamura, Hitachi's new president.
July 28, 2009
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