Friday, August 12, 2011

Hitachi faces operating deficit

ing Apr - Jun 2011, Japan's Hitachi Zosen Corp. slumped from the same period last year's JPY 800m ($10.4m) of operating profit. Hitachi announced its business performance on Aug 5, which includes JPY 55.9bn of turnover up 7% and JPY 500m of operating deficit, on consolidated basis.

Operating loss in Q2 is due to decreased revenue from Process equipment department and Infrastructure division. In Machinery & Equipment division, in which produces marine diesel engines, on the other hand, sales increased to JPY 14.3bn by 19% from the same period last year and operating profit rose 25% to JPY 1bn.

Business performance for Apr 2011 - Mar 2012 is maintained to forecast JPY 310bn of turnover up by 7% from the same period a year earlier and JPY 10bn of net profit climbed by 3%, on consolidated basis.

Published : August 11, 2011


Source: Asiasis

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