Hitachi launches $2.9 billion bid for units, falls to loss

TOKYO (Reuters) – Japan’s Hitachi Ltd will launch a $2.9 billion bid for five of its listed units to help it return to growth, even as a tumble to a quarterly net loss further eats into its capital and intensifies pressure to raise funds. Japan’s biggest electronics maker is trying to consolidate its sprawling operations as it faces its third straight year of losses and weaker finances, shifting its focus to growth in its power systems and infrastructure.

Leave a Reply