įrom 2008 to 2018, Hitachi has reduced the number of its listed group companies and consolidated subdiaries in Japan from 22 to 4 and around 400 to 202, respectively, through restructuring and sell-offs. In October 2021, the enterprise was rebranded Hitachi Energy. announced it would take over 80% of ABB Ltd.'s power grid division for $6.4 billion renaming it Hitachi-ABB Power Grids in the process.
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On March 14, 2018, Zoomdata announced its partnership with Hitachi INS Software to help develop big data analytics market in Japan. In 2018, Hitachi stopped selling televisions in Japan because its market share had dropped to 1%, opting to sell Sony TVs through its existing dealer network. In 2019, Applied Materials announced that it would acquire Kokusai Electric from KKR for US$2.2 billion. Also in 2017, private equity firm KKR bought Hitachi Kokusai's (itself a subsidiary of Hitachi) semiconductor equipment division, becoming Kokusai Electric. In February 2017, Hitachi and Honda announced a partnership to develop, produce and sell motors for electric vehicles. Hitachi is taking for 2016 an estimated ¥65 billion write-off in value of a SILEX technology laser uranium enrichment joint venture with General Electric. įollowing the Fukushima Daiichi nuclear disaster in 2011 and the extended temporary closure of most Japanese nuclear plants, Hitachi's nuclear business became unprofitable and in 2016 Hitachi CEO Toshiaki Higashihara argued Japan should consider a merger of the various competing nuclear businesses. In May 2016, Hitachi announced it was investing $2.8 billion into its IoT interests.
Hitachi maintained a 40% stake of the resulting company, Johnson Controls-Hitachi Air Conditioning. In October 2015, Hitachi completed a deal with Johnson Controls to form a joint-venture that would takeover Hitachi's HVAC business. The joint venture named Mitsubishi Hitachi Power Systems (MHPS) began operations in February 2014. In November 2012, Hitachi and Mitsubishi Heavy Industries agreed to merge their thermal power generation businesses into a joint venture to be owned 65% by Mitsubishi Heavy Industries and 35% by Hitachi. In October 2012, Hitachi agreed to acquire the United Kingdom-based nuclear energy company Horizon Nuclear Power, which plans to construct up to six nuclear power plants in the UK, from E.ON and RWE for £700 million. In September 2012, Hitachi announced that it had invented a long-term data solution out of quartz glass that was capable of preserving information for millions of years.
In January 2012, Hitachi announced it would stop producing televisions in Japan. The transaction was completed in March 2012. Due to concerns of a duopoly of WD and Seagate Technology by the EU Commission and the Federal Trade Commission, Hitachi's 3.5" HDD division was sold to Toshiba. In March 2011, Hitachi agreed to sell its hard disk drive subsidiary, HGST, to Western Digital for a combination of cash and shares worth US$4.3 billion. This prompted Hitachi to restructure and sell a number of divisions and businesses, a process that is expected to end in 2021. įrom 2006 to 2010, Hitachi lost US$12.5 billion, the largest corporate loss in Japanese history. Mainly window air conditioners were produced. However air conditioners were a matter of great pride. Volumes of production of air conditioners in the USSR were small, about 500,000 per year.
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The Baku factory was established under the license of Japanese company Hitachi.
The Soviet Union started to produce air conditioners in 1975. Hitachi's reconstruction efforts after the war were hindered by a labor strike in 1950. Founder Odaira was removed from the company and Hitachi Zosen Corporation was spun out. World War II had a significant impact on the company with many of its factories being destroyed by Allied bombing raids, and discord after the war. Odaira coined the company's toponymic name by superimposing two kanji characters: hi meaning "sun" and tachi meaning "rise". Odaira moved headquarters to Tokyo in 1918. The company began as an in-house venture of Fusanosuke Kuhara's mining company in Hitachi, Ibaraki. The company's first product was Japan's first 4-kilowatt (5 hp) induction motor, initially developed for use in copper mining. Hitachi was founded in 1910 by electrical engineer Namihei Odaira (1874–1951) in Ibaraki Prefecture. Hitachi logo, in which visible is the symbol on the left that is still used as its corporate symbol ( monshō) and in favicons of some of the group companies like Hitachi Rail and Hitachi Astemo
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