Fri, May 13, 8:56 AM
Feb. 24, 2015, 10:00 AM
- Further expanding its transportation business overseas, Hitachi (OTCPK:HTHIY -1.7%) has agreed to pay $1B for two units from Finmeccanica (OTCPK:FINMY -2.7%), which is looking to concentrate on its core aerospace and defense businesses.
- Hitachi will pay €773M ($876.1M) for Finmeccanica’s 40% stake in rail signaling operator Ansaldo and €36M for its unprofitable train manufacturer AnsaldoBreda.
- Following the closing of the deal, Hitachi will launch a mandatory tender offer on Ansaldo’s publicly traded shares, potentially boosting its total payout to as much as $2.5B.
- Previously: Hitachi confirms bid for Finmeccanica train-making, signal assets (Dec. 17 2014)
Jan. 12, 2015, 6:50 AM| Jan. 12, 2015, 6:50 AM
Dec. 17, 2014, 11:05 AM
- A Hitachi (OTCPK:HTHIY) exec has confirmed a company bid for Finmeccanica's (OTCPK:FINMY) train-making unit AnsaldoBreda and a 40% stake in its rail signaling company Ansdaldo.
- Chief Operating Officer Toshiaki Higashihara declined to comment on the bid price, but the Nikkei previously reported that the offer was likely worth around $1.7B.
- Finmeccanica said on Tuesday it had received an offer from Insigma for AnsaldoBreda.
Dec. 16, 2014, 10:24 AM
Sep. 2, 2014, 3:03 AM
- The European trade body in China has dismissed reports stating Beijing was planning to require foreign auto parts suppliers in the country to form local joint ventures.
- The rumors surfaced as Chinese regulators cracked down on the country's auto industry, seeking to enforce a 2008 antitrust law.
- Last month, China issued $201M in fines against 12 Japanese companies for manipulating prices, while many foreign automakers have lowered their spare parts prices to appease local regulators.
- Related Stocks: OTCQX:VLKAY, OTCPK:FIATY, OTCPK:DDAIY, TTM, TM, HMC, OTCPK:NSANY, OTCPK:HTHIY, OTCPK:SSUMY, OTCPK:MIELY, OTCPK:JTEKY, OTCPK:DNZOY
Aug. 20, 2014, 3:10 AM
- China's anti-monopoly regulator has issued fines against 12 Japanese companies for colluding over prices of auto parts and bearings.
- The penalties total 1.2B yuan ($201.8M) and fine companies including Hitachi (OTCPK:HTHIY), Sumitomo (OTCPK:SSUMY), Mitsubishi Electric (OTCPK:MIELY), Jtekt (OTCPK:JTEKY) and Denso (OTCPK:DNZOY).
- China has been increasing its efforts to bring companies into compliance with an anti-monopoly law enacted in 2008, and has recently taken aim at the country's auto sector.
Aug. 15, 2014, 2:35 PM
- Canada's Bombardier (OTCQX:BDRBF, OTC:BOMBF) and Japan's Hitachi (OTCPK:HTHIY) are the two frontrunners to buy the cash-strapped rail subsidiaries of italy's Finmeccanica (OTCPK:FINMF), Reuters reports.
- Finmeccanica has been trying to sell its cash-strapped train division together with its profitable rail signals business for three years to help reduce net debts of €4.8B ($6.4B).
- Bombardier is said to be well-placed to win because it already works with the AnsaldoBreda train division in the development, production and sale of the new Frecciarossa 1000 train.
Jun. 13, 2014, 7:44 AM
- GE Vice Chairman John Rice has stated that General Electric (GE) will pursue its bid over Alstom (ALSMY) alone. The statement comes after Siemens (SIEGY) announced it would partner up with Mitsubishi (MHVYF) and possibly Hitachi (HTHIY) for a joint bid over the French energy business.
- “We don’t think we need a partner in the context of our bid,” says Rice. “We feel really good about the way the process is working, and interactions that we had with the government.”
- GE has put in a $17B bid for Alstom.
Jun. 12, 2014, 3:20 AM
- Hitachi (HTHIY) is said to be in talks in joining Siemens' (SIEGY) bid on Alstom's (ALSMY) energy business, the Nikkei business daily reports. The account comes after yesterday's announcement of Mitsubishi (MHVYF) coming on as a partner to Siemens' bid.
- Siemens is looking to ramp up its effort to out do General Electric's (GE) $17B offer.
Nov. 1, 2013, 11:31 AM
- Hitachi (HTHIY) is selling 10.87M of the 25M Western Digital (WDC -0.7%) shares it received as part of its compensation for the latter's purchase of the former's hard drive unit. (PR)
- The shares are being sold through a secondary offering that has been priced at $67 (3% below WDC's current trading price), and features a 1.63M-share underwriter option.
Jul. 1, 2013, 8:36 PMJapanese shares trade higher today, reacting to upbeat manufacturing reports from the U.S. overnight. The Nikkei Average gains 0.9% to 13,978, with exporters leading on a stabilized currency: Hitachi (HTHIY.PK + 2.4%), Canon (CAJ +1.1%), Fuji Heavy Industries (FUJHY.PK +1.5%). Resource shares also move up: Inpex (IPXHY.PK +2.4%) and Sumitomo Metal Mining (SMMYY.OB +3.9%). | Jul. 1, 2013, 8:36 PM
Apr. 10, 2013, 8:32 PMJapan's Nikkei opened to another multiyear high, quickly rising 1.2% to 13,452 as the dollar continued to move up against the yen. The broader Topix is also outperforming with a 1.6% rise. Exporters and financials lead: Hitachi Ltd. JP:6501 +2.81% (HTHIY.PK +3.4%), Mitsubishi Electric (MIELY.PK +3%), Panasonic (PC +3%), Daiwa Securities (DSEEY.PK +6%), Nomura (NMR +6.3%) and Dai-ichi Life Insurance (DCNSF.PK +4.4%). | Apr. 10, 2013, 8:32 PM
Mar. 6, 2013, 7:23 PMJapanese stocks move higher again today, extending recent gains with the help of a weaker yen. The Nikkei Average broke above 12,000 for the first time since September 2008, rising 1% to 12,049, with exporters leading once again: Advantest (ATE +1.5%), Hitachi (HTHIY.PK +1.1%), Bridgestone (BRDCY.PK +2.7%), Toyota (TM +0.7%), and Olympus (OCPNY.PK +2.9%). | Mar. 6, 2013, 7:23 PM
Feb. 13, 2013, 8:29 PMJapanese stocks move higher in early trading, as investors shrug off weak GDP data and focus their attention on a central bank decision due out later in the day. The Nikkei Average rose 0.4% to 11,291, with the blue chips most active: Sony (SNE +1.3%), Fujitsu (FJTSY.PK +0.7%), Olympus (OCPNY.PK +1.2%), Hitachi (HTHIY.PK -1%) and Nissan (NSANY.PK -0.8). | Feb. 13, 2013, 8:29 PM | 3 Comments
Jan. 24, 2013, 7:37 PMJapanese stocks move up in early trading, with export shares surging as the yen hit its lowest point against the U.S. dollar since June 2010. The Nikkei Average is currently 1.9% higher at 10,824, with blue-chip exporters once again leading gains: Sony (SNE +5.1%) upward, with Hitachi (HTHIY.PK +2.3%), Panasonic (PC +2.7%), Trend Micro (TMICY.PK +3.1%), Nissan (NSANY.PK +2.8%), Toyota (TM +2%) and currency-sensitive Mazda (MZDAY.PK +3.5%). | Jan. 24, 2013, 7:37 PM | 2 Comments
Hitachi and its subsidiaries are engaged in the development, production, sale and service of electrical machinery, semiconductors and computers. Co. is divided into seven business divisions: information & communication systems, electronic devices, digital media & consumer products, high... More
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Industry: Heavy Construction
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