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The semiconductor industry is sluggish, Hitachi is being sold

Feb 02 67
  According to Japanese media's "Sankei Shimbun" report, Hitachi, Ltd. is considering selling its chemical subsidiary Hitachi Chemical, which is expected to sell about 51% of Hitachi's holdings, and the sales may exceed 300 billion yen (about 2.7 billion US dollars).


However, Hitachi’s (11) press release stated that the content reported recently was not released by the company. Hitachi pointed out that in order to improve corporate value, various options are being evaluated, but no decision has yet been made at this stage.

It is understood that Hitachi Chemical is mainly engaged in the production of products for semiconductors, batteries and substrates. Hitachi is focusing its operational resources on IT, energy, and social infrastructure. Therefore, it believes that there is a certain discrepancy in the type of business with Hitachi Chemical.

It is expected that Hitachi will conduct tendering procedures for recruiting buyers in the near future, but there may be some differences in the price negotiations. Hitachi officials pointed out that Hitachi is not in a hurry to sell Hitachi Chemical.

In January of this year, Hitachi Chemicals had lowered its consolidated revenue target from 710 billion yen to 690 billion yen due to cooling of the smartphone market, decelerating semiconductor demand and sluggish demand in the automotive market. The consolidated profit target was also from 59 billion. The yen was revised down to 40 billion yen, and the consolidated net profit target was revised down from 46 billion yen to 32.5 billion yen.

In recent years, Hitachi has sold a number of subsidiaries. Including Hitachi Industrial Machinery, a power tool subsidiary, and Hitachi International Electric, which is responsible for semiconductor manufacturing equipment business, this year, Clarion, a subsidiary of the car navigation system and car audio business, was sold to French auto parts supplier Faurecia SA.