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Hitachi to expand workforce by 24,000, aims for profit margin above 7 pct
May 16, 2013 / 6:26 AM / in 5 years

Hitachi to expand workforce by 24,000, aims for profit margin above 7 pct

TOKYO, May 16 (Reuters) - Hitachi Ltd said it will expand its global workforce by 24,000 people over the next three years, while aiming to boost its annual operating profit margin to more than 7 percent from 4.7 percent by shaving 400 billion yen ($3.9 billion) in costs.

Hitachi, which already has 326,000 employees, ranks alongside Toyota Motor Corp and Panasonic Corp among Japan’s biggest employers. The sprawling conglomerate’s business interests range from nuclear reactors and trains to washing machines and brain scanners.

The company in the year to March 31 expects operating profit to jump 18.5 percent to 500 billion yen ($4.88 billion), helped by a weakening yen and a pickup in demand for its industrial products. ($1 = 102.4250 Japanese yen) (Reporting by Tim Kelly; Editing by Edmund Klamann)

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