Tokyo, Japan – Hitachi, Ltd. held its Q1 2024 Earnings Conference Call early in the morning on July 31, 2024. The conference call featured key company participants such as Tomomi Kato, the Senior Vice President and Executive Officer and CFO of Hitachi, Ltd. The call also included several notable participants from UBS, Goldman Sachs, BofA Securities, Asahi newspaper, and Citigroup.

During the call, Tomomi Kato discussed the key messages, Q1 fiscal year 2024 results, forecasts, and performance by business segment. Hitachi reported positive growth in revenues and profitability, with a focus on the DX and GX markets. The company highlighted an increase in adjusted EBITA margin and net income attributable to Hitachi Limited stockholders.

Hitachi also shared its forecast for fiscal year 2024, expecting growth in revenues and adjusted EBITA. The company emphasized its focus on capturing new business opportunities in the GX and DX markets to drive growth across its Three Sectors.

In terms of business segments, Hitachi reported growth in the Digital Systems & Service segment, particularly in domestic energy and public projects. The company also saw an increase in orders for its GEM segment, despite experiencing a decline in Railway Systems and Hitachi Energy.

Looking ahead, Hitachi discussed its plans for the Connective Industries sector, highlighting joint ventures and acquisitions to expand its offerings. The company aims to continue driving growth through strategic investments and business reorganizations.

Overall, Hitachi remains optimistic about its performance in fiscal year 2024, expecting continued growth in key markets and segments. The company is focused on leveraging its strengths in technology and innovation to drive profitability and success in the coming year.