Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 14 December 2017, 11:39 HKT/SGT
Share:
    

Source: Hitachi, Ltd.
Hitachi Promotes ASEAN Business Strategy at Board of Directors Meeting in Singapore
Aiming for Business of 700 billion yen

SINGAPORE, Dec 14, 2017 - (JCN Newswire) - Hitachi, Ltd. (TSE: 6501) announced today that it held its Board of Directors Meeting in the Republic of Singapore where Hitachi's headquarters for the ASEAN region is located. This is Hitachi's first Board of Directors Meeting in the ASEAN region, and the fifth outside of Japan. Under the 2018 Mid-term Management Plan, Hitachi aims to become "an Innovation Partner for the IoT Era" by focusing on expanding Social Innovation Business globally. Discussion at the meeting centered on Hitachi's growth strategy from 2018 onwards and includes means of harnessing the growth potential of the ASEAN region, which is expected to drive the world economy in future.

In the ASEAN region, as momentum in the regional economy accelerates with integration of the market through various partnerships including the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), other various plans for the region including strategies relating to Infrastructure Export and Economic Corporation of the Japanese government, and the One Belt, One Road initiative of the Chinese government continue to raise growth expectations. In addition, Singapore and Malaysia, aiming to take the lead in introducing groundbreaking technologies and to forge ahead with nonstop industry innovations, announced their adoption of a regulatory sandbox. With a burgeoning market underpinned by a population of over 600 million people and the most advanced expertise as reflected in the wisdom of FinTech, ASEAN is a region brimming with untapped potential.

ASEAN is a key region in Hitachi's global strategy. Since establishing the Singapore office in 1963, Hitachi has engaged in a wide range of enterprises and projects over the past 54 years. During this period, businesses in the region has grown to approximately 500 billion yen at present. In addition to receiving orders for major projects in 2016 including the Red Line Mass Transit System Project in Thailand, and the Proton Therapy System for the National Cancer Centre Singapore, Hitachi has been playing an active role in a wide range of social innovation projects to realize a smart, peaceful, safe, and comfortable society in recent years. Among these are an electricity distribution system which incorporates a gas-blast load-break switch that contributes to electric power network stability, elevators to support urbanization, and security systems. In Vietnam, Hitachi participated in a joint cashless settlement project and is strengthening its approaches through cooperation with local stakeholders, including an agreement to cooperate with the EEC Development Policy Committee to establish an IoT engineering center which will contribute to the Eastern Economic Corridor (EEC) project in Thailand.

Bearing in mind this market environment, Hitachi's performance to date and the application of Hitachi's IoT technology, the Board of Directors discussed the ASEAN regional strategy focusing on the following four core businesses: (1) urban infrastructure to contribute to urban development, (2) digital infrastructure to contribute to social stability by enhancing efficiency and transparency of government administration, (3) enhancement of manufacturing and logistics efficiency to realize an advanced streamlined cross-border supply chain unique to the ASEAN region, and (4) a service platform that will bring about QoL improvement in people's lives by linking B-to-C companies with the aim of expanding the customer base and the middle class which requires high-quality services. Through its commitment to these core businesses, Hitachi aims to expand business in the ASEAN region from the current level of approximately 500 billion yen to 700 billion yen by 2021.


About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015) totaled 9,761 billion yen ($81.3 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at www.hitachi.com.

Contact:
Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111


Dec 14, 2017 11:39 HKT/SGT
Source: Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501)

Topic: Press release summary
Sectors: Enterprise IT
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Hitachi, Ltd.
Jan 18, 2018 15:42 HKT/SGT
Hitachi to Introduce New Innovations for Realizing Utility 3.0 via the Lumada IoT Platform at DistribuTECH 2018
Jan 16, 2018 13:29 HKT/SGT
Hitachi to Continue Team Penske Partnership in 2018
Jan 10, 2018 09:32 HKT/SGT
Hitachi to Expand its Clinical Reporting and Analytics for Diagnostic Imaging with the Acquisition of VidiStar
Jan 10, 2018 09:00 HKT/SGT
Hitachi Automotive Systems and Clarion Announce the Development of "Park-by-Memory"
Jan 10, 2018 08:34 HKT/SGT
Hitachi to Feature Advanced Mobility Technologies and Recruit Engineers at the 2018 NAIAS
Dec 15, 2017 13:38 HKT/SGT
Hitachi to Install New Proton Beam Therapy System in Spain
Dec 15, 2017 09:59 HKT/SGT
UK ABWR Successfully Completes GDA Process
Dec 14, 2017 11:03 HKT/SGT
Partners Connected Health and Hitachi Develop an Explainable Ai Technology to Help Doctors Predict Readmissions and Improve Patient Outcomes
Dec 11, 2017 13:22 HKT/SGT
Hitachi Invests in Preferred Networks
Dec 8, 2017 10:47 HKT/SGT
Hitachi and Mitsubishi Electric Agree to Integrate Particle Therapy System Business
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: