Nay Pyi Taw, Myanmar, July 6, 2016 - (ACN Newswire) - Hitachi, Ltd. (TSE: 6501, "Hitachi") and Hitachi Asia Ltd. have announced the Hitachi Social Innovation Forum in Myanmar on 5 July 2016. H.E U Kyaw Myo, Deputy Minister for Ministry of Transport and Communications, Myanmar, will grace the event as guest-of-honor.
Through hosted exhibition and business seminars, the forum will showcase a broad range of solutions in Hitachi's Social Innovation Business, which combines infrastructure and advanced information technologies. Customers, business partners, and major stakeholders in Myanmar will be able to have a better understanding of Hitachi's key business fields such as information and telecommunication systems, transportation, power systems and healthcare.
Delegates will also be able to hear from Hitachi speakers Mr. Yoshitaka Tsuda, Vice President and Executive Officer, Hitachi, Ltd., Mr. Alistair Dormer, Senior Vice President and Executive Officer, CEO of Railway Systems Business Unit, Hitachi, Ltd. and Executive Chairman of the Board, Hitachi Rail Europe Ltd., and Mr. Atsushi Takita, Corporate Officer, Hitachi, Ltd. They will share their views on Myanmar's growth opportunities and challenges, and introduce some of Hitachi's solutions for collaborative creation from the view of Geospatial Solutions and Public Transportation supported by IT Systems.
Following the success of last year's event, Hitachi will once again hold its Social Innovation Forum in Myanmar's capital city as part of its business expansion plans in the country. In the recently announced 2018 Mid-term Management Plan, Hitachi targets to increase its overseas sales ratio to more than 55%. Myanmar is one of the fastest growing countries in Asia and demand for infrastructure is expected to be one of the main drivers of growth.
In recent months, Hitachi has rapidly expanded its business in Myanmar. In May 2015, Hitachi signed a 2.4 billion yen contract with Myanmar Railways to deliver a signaling system by June 2017, along a 140 km route connecting Yangon Central Railway Station and Pyuntasa Station in the Bago region. Later in December, Hitachi Solutions won a tender to implement an electronic data interchange (EDI) system for the Myanmar Port Authority. The system aims to modernize and improve efficiency of the port administration and is scheduled for completion by February 2017.
Hitachi has also established various joint ventures and new companies in the country since July 2015, including Hitachi Soe Electric & Machinery Co., Ltd., a transformer joint venture of Hitachi Industrial Equipment Systems with Soe Electric & Machinery, Hitachi Elevator (Myanmar) Co., Ltd., a joint venture with Prime Deco Engineering Co., Ltd. for sales and services of elevators and escalators, and Hitachi Home Electronics Myanmar Co., Ltd.
Mr. Hiroaki Nakanishi, Chairman of the Board, Representative Executive Officer Hitachi, Ltd. said, "Last year, Hitachi announced plans to expand our business in Myanmar and increase the number of local employees five times - from 200 to 1,000 - by 2020. We are very much on track and I am pleased to share that our employee numbers have more than doubled to over 500 in just one year. Hitachi remains committed to resolving the various social issues faced by Myanmar through our Social Innovation Business. As demonstrated in our business presentations and exhibition at today's forum, we will combine Hitachi's infrastructure technologies in areas such as railways with advanced information technologies to improve Myanmar's quality of life."
About Hitachi Asia Ltd.
Hitachi Asia Ltd., a subsidiary of Hitachi, Ltd., is headquartered in Singapore. With offices across seven ASEAN countries - Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam - the company is focused on its Social Innovation Business to answer society's challenges. Hitachi Asia and its subsidiary companies offer a broad range of information & telecommunication systems, power systems, social infrastructure & industrial systems, electronic systems and equipment, construction machinery, high functional materials and components, automotive systems, home appliances, financial services and others. For more information on Hitachi Asia, please visit the company's website at http://www.hitachi.com.sg.
About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
July 6, 2016 18:40 HKT/SGT
Source: Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501)
Topic: Press release summary
Sectors: Water, Design Process, Logistics & Supply Chain, Enterprise IT, Automotive, Energy, Aerospace/Defence
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