Hitachi Q1 Report 2022

Q1 FY22 consolidated total revenues were 2,569.8bn yen (YoY+9%), adjusted EBITA* was 154.8bn yen (YoY (6.3)bn yen), and net income was 37.1bn yen (YoY (85.0)bn yen)

• Revenues and profits increased in Digital Systems & Services and Hitachi High-Tech, etc.
• Profits decreased mainly in Hitachi Astemo and Smart Life & Ecofriendly Systems due to semiconductor shortage and lockdown in China Net income decreased due to one-time factors including the impact of the shift to risk-sharing corporate pension plans

FY2022 forecast is revised upward to revenues of 9,850.0bn yen (+4% from previous forecast), adjusted EBITA of 845.0bn yen (+25.0bn yen from previous forecast) and core free cash flows(2)*2 of 235.0bn yen (+25.0bn yen from previous forecast). Net income forecast of 600.0bn yen has not changed from previous forecast

• Selling a part of Hitachi Construction Machinery shares is expected to be completed during the first half of FY2022. Selling Hitachi Metals shares and Hitachi Transport System shares are expected to be completed by the end of FY2022