Hitachi Management Discusses F4Q12 Results - Earnings Call Transcript

Hitachi, Ltd. (HIT)

F4Q12 Earnings Call

May 11, 2012 12:00 AM ET

Executives

Toyoaki Nakamura – Representative Executive Officer, EVP and Executive Officer

Presentation

Unidentified Company Representative

Now we would like to move to the meeting of Financial Results for the year ended March 31, 2012. First let us introduce members who are present here today: Mr. Toyoaki Nakamura, Executive Vice President and Executive Officer, Mr. Toshiaki Kuzuoka, Senior Vice President and Executive Officer, Mr. Yoshihito Kitamatsu, General Manager-Finance Department One.

So in accordance to this PowerPoint presentation, I’d like to have Mr. Nakamura to make presentation.

Toyoaki Nakamura

So let me explain the consolidated financial results for fiscal 2011 using the PowerPoint presentation. If you can turn the page to 1-2, consolidated statement of operations. Revenues were ¥9.665.8 billion. This was 104% year-on-year and we came up with the revised forecast on March 15, and it was 102% compared to that forecast. And operating income, ¥412.2 billion and this was up ¥33.2 billion and there was a drop in profits because of the earthquake and flooding in Thailand. But compared to the forecast, there was an improvement of ¥12.2 billion.

For net other income, we had this dry business and small and mid-sized display business was transferred and there was a gain. So ¥145.4 billion and ¥157.7 billion year-on-year and ¥55.4 billion compared to the forecast. And net income attributable to Hitachi Ltd. was ¥347.1 billon, up ¥108.3 billion year-on-year an improvement of ¥67.1 billion compared to the forecast. And two consecutive years, we posted record high net income. And there were great impacts on the great East Japan earthquake and floods in Thailand in fiscal year 2011 and revenues minus ¥320 billion, operating income, ¥95 billion, and net income or bottom line, ¥80 billion in negative impacts were posted.

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