Key Developments: Hitachi Construction Machinery Co Ltd (6305.T)
2,639JPY
17 May 2013
¥1 (+0.04%)
¥2,297
¥2,595
¥2,644
¥2,583
1,294,000
2,040,156
¥2,660
¥1,203
Latest Key Developments (Source: Significant Developments)
Hitachi Construction Machinery Co., Ltd. to Fully Acquire Subsidiary; to Merge with Subsidiary
Hitachi Construction Machinery Co., Ltd. announced that it has decided to fully acquire a subsidiary through stock swap, effective December 31, 2011. One share of the subsidiary can be exchanged to 0.2 share of the Company. The Company has decided to merge with a wholly owned subsidiary, which is engaged in development and sales of computer software, effective April 1, 2012. Full Article
Hitachi Construction Machinery Co., Ltd. to Sell Subsidiary to Joint Venture of Hitachi Construction Machinery, Innovation Network Corporation of Japan and Nissan Motor.
Hitachi Construction Machinery Co., Ltd. announced that it will sell its wholly owned subsidiary, which engages in the development, manufacturing and sale of industrial vehicles and other vehicles to UniCarriers Corporation, which will be a joint venture to be established by Innovation Network Corporation of Japan, Hitachi Construction Machinery Co., Ltd. and Nissan Motor. Full Article
R&I Affirms Hitachi Construction Machinery Co., Ltd.'s Rating at "A"; Rating Outlook Stable
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Hitachi Construction Machinery Co., Ltd. at "A". The rating outlook is stable. Full Article
Hitachi Construction Machinery Co., Ltd. Amends Consolidated Mid-year and Full-year Guidance for FY 2012
Hitachi Construction Machinery Co., Ltd. announced that the Company has lowered the consolidated mid-year guidance for revenue from JPY 384,000 million to JPY 364,901 million, but raised the guidance for operating profit from JPY 16,500 million to JPY 20,443 million, ordinary profit from JPY 12,500 million to JPY 17,837 million, net profit from JPY 3,800 million to JPY 5,481 million and earning per share from JPY 17.97 to JPY 25.92 for the fiscal year ending March 31, 2012. The Company has also lowered the consolidated full-year guidance for revenue from JPY 900,000 million to JPY 860,000 million, and reaffirmed the forecast for operating profit of JPY 65,000 million, ordinary profit of JPY 56,000 million, net profit of JPY 23,000 million and earning per share of JPY 108.76 for the fiscal year ending March 31, 2012. The Company lowered the consolidated mid-year and full-year forecasts for revenue due to decreased orders. However, the Company raised the consolidated mid-year outlook for operating profit, ordinary profit and net profit due to decreased material price. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of JPY 853.30 billion and net profit of JPY 21.50 billion for the fiscal year ending March 31, 2012. Full Article
Hitachi Construction Machinery Co., Ltd. to Establish New Joint Venture-The Chemical Daily Co. Ltd.
The Chemical Daily reported that Hitachi Construction Machinery Co., Ltd. will establish a new joint venture, which will be engaged in the manufacturing and sale of power shovel in Brazil, with an America-based company, and a Brazil-based company, in the middle of October 2011. Hitachi Construction Machinery, the Brazil-based company and the America-based company will hold 40%, 40% and 20% stakes in the joint venture, respectively. Full Article
Hitachi Construction Machinery Co., Ltd. Amends Consolidated Mid-year Outlook and Maintains Consolidated Full-year Outlook for FY 2012; Above Analysts' Estimate
Hitachi Construction Machinery Co., Ltd. announced that it has lowered its consolidated mid-year outlook for revenue from JPY 392,000 million to JPY 384,000 million, but raised the outlook for operating profit from JPY 14,000 million to JPY 16,500 Million, ordinary profit from JPY 10,000 million to JPY 12,500 million, net profit from JPY 1,500 million to JPY 3,800 million and earning per share from JPY 7.09 to JPY 17.97, for the fiscal year ending March 2012. The Company has maintained its consolidated full-year outlook for revenue of JPY 900,000 million, operating profit of JPY 65,000 million, ordinary profit of JPY 56,000 million net profit of JPY 23,000 million and earning per share of JPY 108.76, for the fiscal year ending March 2012. The Company lowered the mid-year revenue outlook due to the decreased sales in China market, and raised the mid-year profit outlook due to the cost reduction, among others. According to I/B/E/S Estimates, analysts were expecting the Company to report full-year revenue of JPY 861.71 billion and earning per share of JPY 101.58. Full Article
Marubeni Corporation, Hitachi Construction Machinery Co., Ltd. To Team Up On Machinery Leasing In Australia-DJ
Dow Jones reported that Marubeni Corporation and Hitachi Construction Machinery Co., Ltd. plan to start leasing out heavy-duty construction equipment together in Australia, the Nikkei reported on Friday. The trading house and the Hitachi Ltd. unit have formed an 80-20 local joint venture (JV), with sales activities to begin next month. Numerous resource development projects are underway in Australia, and demand for high-performance Japanese products is on the rise. The new firm was established for about AUD15 million (Y1.3 billion). The venture will set up sales bases in Brisbane, which is central to an eastern Australia coal mine district, and in Perth, a city in an iron ore production district in the western part of the country. It will offer Hitachi Construction Machinery products, such as excavators and 200-ton dump trucks. The new firm will seek to lease out 1,000 units in 2015, or 600 million Australian dollars in contracts. Full Article
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