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Hitachi Management Discusses F3Q12 Results - Earnings Call Transcript

Stocks in this article: HIT

Hitachi, Ltd. ( HIT)

F3Q12 Earnings Call

February 3, 2012 3:15 AM ET


Takashi Miyoshi – EVP and Executive Officer

Toshiaki Kuzuoka – SVP and Executive Officer



Thank you for attending the Presentation for the Consolidated Financial Results for the Third Quarter of Fiscal Year 2011 despite your busy schedules and despite the cold weather. We would now like to start this meeting. We are expected to end this meeting at 6:15 p.m.

I would now like to introduce the speakers to you. In the middle is Mr. Takashi Miyoshi, Executive Vice President and Executive Officer; to your left, Mr. Toshiaki Kuzuoka, Senior Vice President and Executive Officer; to your right, Mr. Yoshihito Kitamatsu, General Manager of Finance Department One.

I would like to ask Mr. Miyoshi to start.

Takashi Miyoshi

Thank you very much, the third quarter results will now be presented. Please refer to the news release that have been distributed. First of all, starting with the revenues is ¥2.2549 trillion which is 100% year-on-year. Now this comprised of 102% domestic and 100% outside of Japan.

Now, operating income was ¥95.1 billion and net income was ¥34.2 billion, a reduction or decline year-on-year. To the right is the nine-month ended December 31. Revenue was ¥6.8376 trillion, which is 101% year-on-year comprising of 102% domestic and 100% overseas.

Operating income was ¥265.7 billion and net income ¥85.2 billion. As explained last time, for us the impact of the earthquake has been very significant. For the first three quarters, the impact has been calculated as follows: revenue impact was ¥230 billion, operating income ¥75 billion, and net income at ¥65 billion. This was officially significant for the first half.

Now, for the first three quarters compared to the year before last year, there was a significant difference in other deductions. In 2010 IPS also technology transfer proceeds was posted and with respect to the Hitachi Global Storage Technologies, we’ve been trying to sell – divest in the next term. These factors are linked to the significant difference.

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