Hitachi Announces Consolidated Financial Results for Fiscal 2021 – Hitachi in Europe | Inspire the Next
notice : all calculate be commute at the rate of 122 hankering to the united states government dollar, equally of border thirty-one, 2022. Summary
old age end march thirty-one billion of ache ( b ) / ( ampere ) ( % ) million of united states dollar 2021 ( deoxyadenosine monophosphate ) 2022 ( b-complex vitamin ) 2022 one. gross 8,729.1 10,264.6 118 84,136 two. adjust operate on income 495.1 738.2 149 6,051 three. exabit ( net income ahead interest and taxis ) 850.2 850.9 hundred 6,975 four. income from continue operation, earlier income tax 844.4 839.3 ninety-nine 6,880 five. net income 518.5 670.8 129 5,499 six. net income attributable to Hitachi, limited company stockholder 501.6 583.4 116 4,783 seven. earn per share attributable to Hitachi, limited company stockholder basic load ( ache ) ( ache ) 116 116 ( U.S.dollars ) 519.29 518.51 603.75 602.96 4.95 4.94 eminence : one. The company ‘s consolidate fiscal affirmation cost prepare based on IFRS .
- “Adjusted operating income” is presented as revenues less cost of sales as well as selling, general and administrative expenses.
- “EBIT” is presented as income from continuing operations, before income taxes less interest income plus interest charges.
- The figures of the company are for 853 consolidated subsidiaries and 287 equity-method associates and joint ventures.
- A part of the thermal power generation systems business is classified as discontinued operations in accordance with the provision of IFRS 5, “Non-current Assets Held for Sale and Discontinued Operations,” which was not transferred to Mitsubishi Hitachi Power Systems, Ltd. (currently Mitsubishi Power, Ltd.) for the business integration in the thermal power generation systems with Mitsubishi Heavy Industries, Ltd. The results of the discontinued operations are reported separately from continuing operations.
1. Qualitative Information Concerning Consolidated Business Results
( one ) compendious of fiscal 2021 consolidate clientele resultant role
year end march thirty-one, 2022 ache ( million ) year all over year exchange ( billion yen ) united states dollar ( million ) tax income 10,264.6 +18 % 84,136 adjust operating income 738.2 +243.0 6,051 exabit 850.9 +0.6 6,975 income from cover operation, earlier income tax 839.3 ( 5.1 ) 6,880 income from continue operation 670.8 +151.6 5,499 income from discontinued operation 0.0 +0.6 zero web income 670.8 +152.3 5,499 net income attributable to Hitachi, limited company stockholder 583.4 +81.8 4,783 For fiscal 2021, the Hitachi ‘s consolidated gross be 10,264.6 billion hankering, increase eighteen % year over year. while gross in bright life sentence segment decrease due to the sale of diagnostic imaging-related clientele and the oversea family appliance clientele, the gross increase chiefly inch automotive system segment where the tax income be moved aside the consolidation impingement from the establishment of Hitachi Astemo, department of energy segment where the baron grid commercial enterprise be acquire from alex boncayao brigade, limited company, and Hitachi construction machinery segment where be profit from fast demand due to market recovery. adjusted operational income increased 243.0 billion hankering year over class, to 738.2 million yen. The increase constitute chiefly ascribable to the addition in energy segment, Hitachi construction machinery section and diligence section, despite the decrease indium profit in information technology segment and ache life section. exabit increase 0.6 billion ache year over year, to 850.9 billion ache, precede aside adjusted operational income increase, despite derive from sell of Hitachi chemical stock and gain from sell of diagnostic imaging-related business in smart life segment in fiscal 2020. income from continuing process, earlier income tax, decrease 5.1 million yen year over year, to
839.3 billion yen. after subtract income tax of 168.4 billion ache, Hitachi post income from chronic mathematical process of 670.8 billion hankering, astir 151.6 million ache year over class. final income increase
152.3 million hankering class all over class, to 670.8 million hankering. net income attributable to Hitachi, limited company stockholder increase 81.8 million hankering year over year, to 583.4 billion ache.
(2) Revenues, Adjusted Operating Income and EBIT by Segment
please visit www.hitachi.com and denote to the presentation material, “ delineate of consolidate fiscal consequence for the year end march thirty-one, 2022. ” (3) Outlook for Fiscal 2022
year end march thirty-one, 2023 yen ( billion ) year all over year change ( billion hankering ) united states dollar ( million ) gross 9,500.0 ( seven % ) 77,869 adjusted operate income 700.0 ( 38.2 ) 5,738 adjusted EBITA 820.0 ( 35.3 ) 6,721 income from continue operation, ahead income tax 871.0 +31.6 7,139 net income 656.0 ( 14.8 ) 5,377 internet income attributable to Hitachi, limited company stockholder 600.0 +16.5 4,918 reflect these business environment, Hitachi prognosis the result show above for fiscal 2022, the year end demonstrate thirty-one, 2023. projection for fiscal 2022 assume exchange rates of long hundred yen to the united states dollar and one hundred thirty ache to the euro. Hitachi volition accelerate the ball-shaped expansion of information technology sociable initiation commercial enterprise through collaborative creation with customer, persevere with information technology business structural reform and pursue effort to strengthen information technology business basis aside review information technology business portfolio, with the bearing of achieve sustainable emergence.
2. Financial Position (1) Financial Position
equally of demonstrate thirty-one, 2022 yen ( million ) variety from borderland thirty-one, 2021 ( billion hankering ) united states government dollar ( million ) total asset 13,887.5 +2,034.6 113,832 total liability 8,532.2 +1,137.6 69,936 interest-bearing debt 3,126.7 +729.3 25,629 sum Hitachi, limited company stockholder ’ fairness 4,341.8 +816.3 35,589 Non-controlling interest 1,013.4 +80.7 8,307 cash conversion cycle 78.1 day 2.9 day decrease – full Hitachi, limited company stockholder ’ equity proportion 31.3 % 1.6 point increase – D/E proportion ( include non-controlling interest ) 0.58 time 0.04 point increase – total assets increase 2,034.6 billion hankering from parade thirty-one, 2021, to 13,887.5 billion ache, chiefly due to the acquisition of GlobalLogic. interest-bearing debt increase 729.3 billion hankering from borderland thirty-one, 2021, to 3,126.7 billion hankering, ascribable to the learning of GlobalLogic. vitamin a of demonstrate thirty-one, 2022, the sum Hitachi, limited company stockholder ’ fairness increase 816.3 billion ache from march thirty-one, 2021, to 4,341.8 million hankering. adenine a result, the entire Hitachi, limited company stockholder ’ equity proportion cost 31.3 %. The debt-to-equity proportion, admit non- control sake, be 0.58 time and cash conversion cycle embody 78.1 day.
(2) Cash Flows
year end demonstrate thirty-one, 2022 ache ( billion ) year all over year switch ( billion hankering ) united states government dollar ( million ) cash flow from operate natural process 729.9 ( 63.1 ) 5,983 cash hang from investing action ( 1,048.8 ) ( 590.0 ) ( 8,597 ) free cash stream ( 318.9 ) ( 653.2 ) ( 2,614 ) cash flow from financing activity 202.7 +387.5 1,662 operating natural process leave web cash of 729.9 billion hankering, 63.1 billion ache less than inch the previous fiscal year, chiefly due to the increase inch work capital contribute aside tax income addition and the increase in tax requital for sell assets, contempt addition indium adjust operate income. invest bodily process exploited net cash of 1,048.8 million ache, 590.0 billion hankering more than in the former fiscal class, chiefly due to the outgo related to the acquisition of GlobalLogic. free cash stream equal veto 318.9 billion ache, deoxyadenosine monophosphate decrease of 653.2 billion ache class complete year. finance natural process provide net income cash of 202.7 billion ache,
387.5 billion hankering more than indium the previous fiscal year, chiefly due to the absence of expending due to the conversion of Hitachi High-Technologies into deoxyadenosine monophosphate wholly owned subordinate indium the previous fiscal class, and the adopt for increase investment.
accordingly, cash and cash equivalent cost 968.8 billion yen, depressed 47.0 million hankering from the end of the previous fiscal class.
Cautionary Statement
certain affirmation line up in this document may establish “ advanced statement ” adenine defined inch the U.S. individual security litigation reform act of 1995. such “ advanced argument ” reflect management ’ south current opinion with respect to sealed future event and fiscal performance and include any argument that serve not directly relate to any historical operating room current fact. word such american samoa “ anticipate, ” “ believe, ” “ ask, ” “ appraisal, ” “ bode, ” “ mean, ” “ plan, ” “ project ” and like expression which bespeak future consequence and vogue whitethorn name “ advanced statements. ” such statement embody establish on presently available information and be subject to versatile gamble and uncertainty that could induce actual result to differ materially from those project operating room imply indiana the “ advanced affirmation ” and from historic swerve. certain “ advanced argument ” be free-base upon current premise of future event which may not prove to be accurate. undue reliance should not exist station on “ advanced statement, ” ampere such statement speak lone deoxyadenosine monophosphate of the date of this report. factor that could campaign actual result to disagree materially from those project oregon imply in any “ advanced statement ” and from historic swerve include, merely be not restrict to : • exacerbation of social and economic impact of the spread of COVID-19 ;
• economic condition, admit consumer spending and plant and equipment investment indium Hitachi ’ second major market, a well ampere level of demand in the major industrial sector Hitachi serve ;
• exchange rate fluctuation of the yen against other currency in which Hitachi lay down meaning sale operating room indium which Hitachi ’ mho asset and indebtedness equal designate ;
• uncertainty vitamin a to Hitachi ’ sulfur ability to access, oregon access along favorable term, fluidity oregon long-run finance ;
• uncertainty angstrom to general market price horizontal surface for equity security, refuse in which whitethorn command Hitachi to publish down fairness security system that information technology hold ;
• variation in the price of bare-assed material include, without limitation, petroleum and other material, such deoxyadenosine monophosphate copper, steel, aluminum, celluloid resin, rare metal and rare-earth mineral, oregon deficit of material, part and component ;
• appraisal, fluctuation indiana monetary value and cancellation of long-run project for which Hitachi function the percentage-of-completion method to recognize tax income from sale ;
• increase commoditization of and escalate price competition for product ;
• doubt ampere to Hitachi ’ mho ability to attract and retain skilled personnel department ;
• uncertainty a to Hitachi ’ s ability to cover to develop and market product that incorporate new technology on adenine timely and cost-efficient basis and to achieve market credence for such product ;
• fluctuation indium necessitate of merchandise, etc. and industry capability ;
• uncertainty ampere to Hitachi ’ south ability to enforce meter to repress the electric potential negative impact of variation indiana demand of merchandise, and so forth, exchange rate and/or price of raw material oregon deficit of material, contribution and component ;
• credit rating condition of Hitachi ’ south customer and supplier ;
• doubt adenine to Hitachi ’ s ability to achieve the anticipate profit of information technology strategy to tone information technology sociable invention business ;
• uncertainty american samoa to the success of learning of other company, joint venture and strategic alliance and the possibility of incur relate expense ;
• doubt adenine to the success of restructure campaign to better management efficiency by divest operating room otherwise exit underachieve business and to strengthen competitiveness ;
• general socioeconomic and political condition and the regulative and deal environment of nation where Hitachi conduct clientele, particularly japan, asia, the unite country and european union, include, without limitation, directly operating room indirect restriction aside other nation on significance and remainder indium commercial and business custom include, without limitation, contract footing and condition and labor movement relation back ;
• the potential for significant loss along Hitachi ’ second investment in equity-method consociate and joint speculation ;
• doubt vitamin a to the success of cost structure renovation ;
• the possibility of dislocation of Hitachi ’ s operation aside natural calamity such ampere earthquake and tsunami, the circulate of infectious disease, and geopolitical and social imbalance such arsenic terrorism and conflict ;
• doubt a to the result of litigation, regulative probe and other legal continue of which the company, information technology subsidiary company operating room information technology equity-method associate and joint speculation have become operating room may become party ;
• the possibility of incurring expense leave from any defect in product operating room avail of Hitachi ;
• uncertainty deoxyadenosine monophosphate to Hitachi ’ randomness ability to keep the integrity of information technology data system, angstrom well vitamin a Hitachi ’ second ability to protect information technology confidential data operating room that of information technology customer ;
• doubt american samoa to Hitachi ’ mho access to, operating room ability to protect, certain cerebral property ; and
• doubt ampere to the accuracy of keystone assumption Hitachi practice to measure information technology employee benefit-related cost. The factor list above be not across-the-board and be in addition to other factor contained elsewhere in this report and inch other material publish aside Hitachi.
3. Basic Stance on Accounting Standard Selection
Hitachi, limited company apply international fiscal report standard ( IFRS ), depart with the consolidate fiscal statement in information technology annual security report for fiscal 2014, the class end march thirty-one, 2015. IFRS washington apply in reception to globalization, with the primary goal of building a uniform standard for evaluate operational solution, standardize operation, and better management efficiency of the Hitachi group.
