Hitachi Q2 2024 revenue increases 11%; 200 bil share buyback 61.7% completed

Revenues and profits increased in Three Sectors. DSS (Digital Systems & Services) benefited from the tailwind of DX/modernization in the Japanese IT market, while GEM performed well with renewal demand for power grid facilities, in addition to renewable energy, and data center-related solutions

*The decrease in Consolidated Net Income was mainly due to the divestment of Hitachi Astemo
(*) [ ]: Estimated YoY changes excl. FX impact

Three Sectors was revised upward by 150.0 bn yen in Revenues and 19.5 bn yen in Adj. EBITA
DX/GX demand and new opportunities drive revenues and profits growth
Core FCF is expected to exceed the target of the Mid-term Management Plan 2024 by 0.3 tn yen, reaching 1.5 tn yen in three-year cumulative total

Acquire new business opportunities
• In addition to its existing collaboration with Japanese data center operators, Hitachi has expanded the partnership with Singapore's Singtel, a leading communications technology group in Asia, in building out next-generation data centers and GPU Cloud in Japan and Asia Pacific regions
• Hitachi Rail to sign with The Copenhagen Metro to deliver HMAX, its digital asset management suite integrated with NVIDIA AI technology. Accelerate expansion of its Service and Digital Businesses through operational and maintenance support for rolling stocks, signaling, and infrastructure

Plan to pay the FY24 interim dividend of 21 yen per share
• 5 yen increase (YoY+31%) from the FY23 interim dividend, 1 yen increase (YoY+10%) from the FY23 year-end dividend, total 96.5 bn yen
• The 200 bn yen share buyback (announced on April 26) is progressing as planned (123.4 bn yen, 61.7% progress) as of the end of September

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