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-g...