Hitachi to buy out five publicly listed companies
Hitachi is to make a $2.9billion public tender offer to purchase the stock of five publicly listed companies, converting them into wholly owned subsidiaries.
The five associated companies include Hitachi Information Systems, Hitachi Software Engineering, Hitachi Systems & Services, Hitachi Plant Technologies and Hitachi Maxell.
The electronics giant plans to build a more stable earnings structure with a focus on the social innovation business which comprises social infrastructure supported by information and telecommunications technology.
The announcement to transfer the five companies into wholly owned subsidiaries will expand Hitachi's role in information and telecommunications systems, social infrastructure systems and also lithium-ion batteries. Hitachi says that it will also facilitate the integration of business strategy and structures, leading to improved competitiveness.
