TOKYO: Japan’s Hitachi said yesterday group net profit surged 51.1 percent in the full year to March, thanks to improved sales in information systems and its social infrastructure business.
Net profit soared to 264.98bn yen ($2.60bn), the electronics and machinery maker said. Operating profit rose 26.3 percent to 532.81bn yen on sales of 9.62 trillion yen, a rise of 6.4 percent from a year earlier.
Revenue and profits in its power generation systems business sank as its thermal power plants business was integrated into a joint venture with Mitsubishi Heavy Industries.
But the slump was more than offset by robust business in elevators for the Chinese market
and in information systems, Hitachi said.
Household appliances, such as refrigerators, also fared well due to a rush in demand ahead of a sales tax hike in April. AFP
