Tokyo, Mar 16: Japan's biggest electronics maker Hitachi Ltd said on Monday, Mar 16 that it is expecting a loss of $7.1 billion due to global slump. This is the biggest ever loss faced by a Japanese manufacturer. Hitachi is planning to cut $5.1 bn in cost next business year.
The company appointed Takashi Kawamura as the new President. Kazuo Furukawa the current president will become vice-Chairman. Hitachi is planning to concentrate more on auto systems related to the environment and safety, while using partnerships for products such as optical disk drives and mobile phones.