Hitachi Ltd said on Friday it would reorganize its operational structure in April by setting up five new groups as the Japanese conglomerate continues to overhaul its sprawling operations to boost profitability.
The nation's biggest industrial electronics company has been revamping its empire of some 900 firms after it reported one of the biggest losses in Japanese corporate history only three years ago under the weight of a high-cost structure and lack of operational focus.
Hitachi bounced back from those losses and has been a rare bright spot among its peers during the current earnings season, with its shares jumping more than 7 percent on Friday after it maintained its full-year profit outlook, in contrast to other electronics makers that have forecast massive annual losses. (Reuters)
↧