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Hitachi Integrated Report 2019 Report Integrated Hitachi Hitachi Integrated Report 2019 Hitachi Integrated Report 2019 Year ended March 31, 2019 Hitachi Social Innovation The challenges we face as a society are unprecedented, but so are the opportunities. Together, let’s start powering good. Let’s call on our heritage, our spirit of collaboration and our technology to do better for generations to come. Contents Hitachi Integrated Report 2019 Editorial Policy Editorial Policy About the Hitachi Group 1 While preparing the 2019 edition of the Report, we concentrated on explaining Hitachi’s vision Business of the Hitachi Group moving forward, as well as the competitive advantages, strategies and business foundation we will utilize to achieve this vision, while also looking back on Hitachi’s progress up until fiscal 2018 and The Hitachi Group Identity and Social Innovation Business discussing the results and challenges of related measures. Growth History We placed a particular emphasis on including easily understandable explanations regarding Hitachi’s goals of co-creation with customers and society to raise social, environmental and economic value, as well as achieve a sustainable society. These objectives are primarily aimed at The Hitachi Group Value Creation Story 10 accomplishing Hitachi’s vision of becoming a global leader in the Social Innovation Business, one of CEO Message the central themes of its 2021 Mid-term Management Plan, which began in fiscal 2019. When editing this Report, we ensured that it conforms to the International Integrated Reporting Independent Director Dialogue Council’s (IIRC’s) International Integrated Reporting Framework and the Ministry of Economy, Trade Value Creation Process and Industry’s Guidance for Collaborative Value Creation. Capital Utilization and Value Creation About Cover Page Value Creation Story Hitachi is working to improve the quality of people’s lives by utilizing its many strengths, including some of the latest digital technology, within a wide range The Hitachi Group’s Growth Strategy 29 of business domains, primarily including social infrastructure, e.g., IT services, energy-related businesses, industrial systems and railway systems. History of Management Reforms and Hitachi’s Mid-term Management Plans The cover of this report portrays several examples of Hitachi businesses that contribute to people’s lives. Outline of the 2021 Mid-term Management Plan Capital Allocation Strategy Boundary of Reporting Financial and Capital Strategy Period: April 1, 2018 to March 31, 2019 (some activities detailed herein occurred after April 2019) Accelerate Innovation Companies: Hitachi, Ltd., and its domestic consolidated subsidiaries Environmental Vision and the Decarbonization Business Boundary of Data: Social data: Boundary of data indicated under each indicator Strengthen Lumada Environmental data: 804 companies, namely Hitachi, Ltd., Story of Value Creation by Sector and 803 consolidated subsidiaries However, for environmental performance data associated with A Business Foundation that Supports Sustainable Growth Hitachi’s business operations, Hitachi, Ltd., and consolidated 64 subsidiaries whose environmental load comprises 90% of the total (based on Hitachi calculations) are included. Addressing Risks and Opportunities Accounting Standard: Unless otherwise noted, this report is prepared in accordance with Promoting Information Security U.S. GAAP through fiscal 2013 and with the International Financial Reporting Standards (IFRS) from fiscal 2014. Occupational Health and Safety, Employee Health Value Chain Responsibilities Inquiries Regarding the Integrated Report Compliance JAPAN Quality Assurance Hitachi, Ltd. 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-8280 Climate-Related Information Disclosure TEL: +81-3-3258-1111 E-mail: [email protected] Corporate Governance U.S.A. Hitachi America, Ltd. Management System 50 Prospect Avenue, Tarrytown, NY 10591 TEL: +1-914-333-2994 Data Section 87 U.K. Hitachi Europe Ltd. 10-Year Financial Data Whitebrook Park, Lower Cookham Road, Maidenhead, Berkshire SL6 8YA Segment Highlights TEL: +44-1628-585384 Operating and Financial Review Investor Relations https://www.hitachi.co.jp/IR/ (Japanese) Consolidated Statement of Financial Position https://www.hitachi.com/IR-e/ (English) Consolidated Statement of Profit or Loss Sustainability Consolidated Statement of Comprehensive Income https://www.hitachi.co.jp/sustainability/ (Japanese) https://www.hitachi.com/sustainability/ (English) Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flows Disclaimer Regarding Forward-looking Statements Certain statements regarding the future of the Company set forth in this Report may constitute 5-Year Non-Financial Data “forward-looking statements,” such as “plan,” “forecast,” “target,” and “strategy.” Although forward- Hitachi Group Business Operation Framework looking statements contained in this report are based upon what the Company has determined to be reasonable assumptions at the time of disclosure, actual performance and other results may differ Keywords to Understand Hitachi Value Creation materially from those anticipated in such statements. For the major factors regarding these Corporate Data /Stock Information differences, please see “Addressing Risks and Opportunities” on page 65 of this Report. About the Hitachi Group IT solutions Business of the Hitachi Group 2 Along with Vietnam Post, we are Revenues expanding electronic services Adjusted Operating Income related to the distribution of Revenues by Market public funds. Starting in 2020, Revenues/Adjusted Operating Income Ratio/Net Income we will contribute to improved Revenues of Lumada Business convenience for six million The Hitachi Group Identity and Social Innovation Business 4 subsidy recipients. Growth History 6 About the Hitachi Group Business of the Hitachi Group In April 2019, Hitachi announced its three-year 2021 Mid-term Management Plan, positioning IT, Energy, Industry, Mobility and Smart Life as growth sectors, assigning relevant business units to each of them. Hitachi is characterized by two strengths: The first is our ability to provide solutions that use digital technology to resolve issues facing customers and society through our cutting-edge IT and our operational technology (OT), which moves social infrastructure such as equipment and systems at production sites, railways and power plants. The second is our highly reliable and superior products. In these five sectors, Lumada will function as a platform that creates value from customers' data and supports the rapid delivery of solutions. Revenues Adjusted Operating Income Composition ratio (%) Adjusted operating income ratio (%) Others Others IT Hitachi Chemical 5% 5.6% 7% 10.8% IT Hitachi Chemical 20% Hitachi Metals 7.1% 10% Revenues Adjusted operating Energy by segment Hitachi Metals income 7.5% Energy 5.0% by segment Hitachi 4% Construction 10% billion Hitachi billion Industry Machinery ¥9,480.6 Industry ¥754.9 2.3% 9% Construction (FY2018) Machinery (FY2018) 11.2% Mobility Hitachi 7% 7.6% High-Technologies Mobility 12% 3.9% 16% Hitachi 9.1% Smart Life High-Technologies Smart Life Note: Figures for each subsegment include intersegment transactions. Revenues by Region Revenues/Adjusted Operating Income Ratio/ Composition ratio (%) Net Income Europe Revenues (¥ billion) Adjusted operating income ratio (%) 1,018.5 Net income attributable to Asia Hitachi, Ltd. stockholders (¥ billion) 2,019.5 11 % 13% North America 1,205.6 9,774.9 10,034.3 ASEAN, India 9,162.2 9,368.6 9,480.6 and others 10 % Japan 1,009.7 ¥4,664.5 billion 8.0 21% 7.6 Outside Japan 6.6 6.3 6.4 11% ¥4,816.0 billion 362.9 China Total 1,009.8 billion ¥9,480.6 Japan 231.2 49% 217.4 222.5 6% (FY2018) 4,664.5 172.1 Other Areas 572.3 FY2014 FY2015 FY2016 FY2017 FY2018 2 Hitachi Integrated Report 2019 IT Energy Industry Consulting IT products Energy solutions Industry & distribution system Systems integration (storage, servers) Power grid system Water & environment system Cloud services Control systems Industrial products Software ATMs Mobility Smart Life Building services Medical equipment (Elevators, escalators) Smart life & eco-friendly system Railway system (Refrigerator, washing machine, air conditioner, Revenues of commercial air conditioning system) Automotive systems Lumada Business (Powertrain, chassis parts, advanced driving assistance system) ¥1,127.0 billion (FY2018) P.48 Strengthen Lumada Hitachi High-Technologies Hitachi Construction Machinery Hitachi Metals Hitachi Chemical Ownership percentage of Ownership percentage of Ownership percentage of Ownership percentage of voting rights: 51.8% voting rights: 51.5% voting rights: 53.5% voting rights: 5 1.4 % Main products and services Main products and services Main products and services Main products and services Medical and Life Science Products Hydraulic Excavators Specialty Steel Products Functional materials Analytical Equipment Wheel Loaders Functional Components and Equipment (Electronics materials, printed wiring board Semiconductor Processing Equipment Mining Machinery Magnetic Materials and Applications materials, electronic components) Manufacturing and Inspection Equipment Maintenance and Services Power Electronics Advanced components and systems Advanced Industrial Products Construction Solutions Wires, Cables, and Related Materials (Mobility components, energy storage Mine Management Systems devices and systems, life science related products) 3 About the Hitachi Group The Hitachi Group Identity and Social Innovation Business Grounded
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