Hitachi: ¥1.2 trillion on R&D over next three years
Hitachi Ltd., a major automotive and machinery maker, said on Tuesday, it will invest 1,2 trillion yen on exploration and growth operations for the three years through 2021, up about 20% from its peak in the 2016-2018 fiscal year.
The Company intends to use up to 2,5 trillion yen for the fiscal year 2019-2021 development fund including corporate acquisitions, up from 500 billion yen in the past three years.
“We are going to spend extensively in IT to globalise our activities,” said Hitachi President Toshiaki Higashihara at a conference conducted in Tokyo with shareholders, describing his new three-year business plan.
He added that Hitachi would encourage organisational changes in businesses with small profits, including automotive components, medical facilities and house appliances.
Hitachi plans to produce 2.6 trillion yen in IT revenues by fiscal 2021; 2.1 trillion yen in the financial year 2018 and 1.7 trillion yen in the power industry, significantly up from 423.5 billion yen.
In the IT sector, Hitachi will invest € 1 trillion over three years, primarily for initiatives relating to its electronic solution Lumada intended to enhance rail and energy distribution effectiveness.