Edgar Filing: HITACHI LTD

The Company’s consolidated financial statements are prepared based on U.S.GAAPs.

Operating income is presented in accordance with financial reporting principles and practices generally accepted in Japan.

The figures are for 894 consolidated subsidiaries, including Variable Interest Entities, and 160 equity-method affiliates.

Consolidated trust accounts are not included into the figures of consolidated subsidiaries.

Form 6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2011

Commission File Number 1-8320

Hitachi, Ltd.

(Translation of registrant’s name into English)

6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-8280, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes No X

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

This report on Form 6-K contains the following:

1.	Press release dated February 3, 2011 regarding consolidated financial results for the third quarter ended December 31, 2010

2.	Press release dated February 3, 2011 regarding executive changes

3.	Press release dated February 3, 2011 regarding changes of directors

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	Hitachi, Ltd.
	(Registrant)

Date February 4, 2011	By	/s/ Toshiaki Kuzuoka
		Toshiaki Kuzuoka
		Vice President and Executive Officer

FOR IMMEDIATE RELEASE

Hitachi Announces Consolidated Financial Results

for the Third Quarter ended December 31, 2010

Tokyo, February 3, 2011 — Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced its consolidated financial results for the third quarter of fiscal 2010, ended December 31, 2010.


Notes:	1.	All figures, except for the outlook for fiscal 2010, were converted at the rate of 81 yen to the U.S. dollar, the approximate exchange rate on the Tokyo Foreign Exchange Market as of December 30, 2010.
	2.	Operating income (loss) are presented in accordance with financial reporting principles and practices generally accepted in Japan.

- 2 -

Summary

In millions of yen and U.S. dollars, except Net income (loss) attributable to Hitachi, Ltd. stockholders per share (6) and Net income (loss) attributable to Hitachi, Ltd. stockholders per American Depositary Share (7).


	Three months ended December 31								Nine months ended December 31
	Yen (millions)				(B)/(A) X100 (%)		U.S. $ (millions)		Yen (millions)					(D)/(C) X100 (%)		U.S. $ (millions)
	2009 (A)		2010 (B)		(B)/(A) X100 (%)		2010		2009 (C)			2010 (D)		(D)/(C) X100 (%)		2010
1. Revenues		2,157,906		2,263,445		105		27,944		6,282,864			6,765,896		108		83,530
2. Operating income		66,360		119,840		181		1,480		41,600			337,888		812		4,171
3. Income (loss) before income taxes		57,605		107,041		186		1,321		(52,534	)		370,849		—		4,578
4. Net income (loss)		31,204		80,413		258		993		(107,670	)		284,850		—		3,517
5. Net income (loss) attributable to Hitachi, Ltd.		21,882		62,091		284		767		(111,339	)		220,140		—		2,718
6. Net income (loss) attributable to Hitachi, Ltd. stockholders per share
Basic		6.18		13.75		222		0.17		(32.78	)		48.75		—		0.60
Diluted		6.02		12.84		213		0.16		(32.78	)		45.52		—		0.56
7. Net income (loss) attributable to Hitachi, Ltd. stockholders per ADS (representing 10 shares)
Basic		62		138		222		1.70		(328	)		488		—		6.02
Diluted		60		128		213		1.58		(328	)		455		—		5.62

- 3 -

1. Qualitative Information Concerning Consolidated Business Results

(1) Summary of Fiscal 2010 Third-Quarter (Three Months and Nine Months Ended December 31, 2010) Consolidated Business Results


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		2,263.4		5	%		27,944		6,765.8		8	%		83,530
Operating income		119.8		53.4			1,480		337.8		296.2			4,171
Income before income taxes		107.0		49.4			1,321		370.8		423.3			4,578
Net Income		80.4		49.2			993		284.8		392.5			3,517
Net Income attributable to Hitachi, Ltd.		62.0		40.2			767		220.1		331.4			2,718

Hitachi’s consolidated revenues for the third quarter of fiscal 2010 increased 5% year over year, to 2,263.4 billion yen. In addition to higher revenues in the Construction Machinery segment, centered on emerging countries, this overall increase was attributable to higher year-over-year revenues in the High Functional Materials & Components, Electronic Systems & Equipment and Automotive Systems segments in line with recovering demand in the electronics- and automotive- related fields.

Overseas revenues increased 8% year over year, to 1,003.5 billion yen due to a global recovery in demand.

Hitachi posted consolidated operating income of 119.8 billion yen, improved 53.4 billion yen year over year. This much improved result was attributable to improved revenues and posting of improved year over year operating income in all segments, including the Construction Machinery, Electronic Systems & Equipment, Digital Media & Consumer Products, and High Functional Materials & Components, and reflected progress with business structure reform measures, accelerated initiatives of procurement cost and fixed expenses reduction and project management. Especially, the Information & Telecommunication Systems segment improved even amid ongoing reduction in IT investment in Japan.

Hitachi posted net other deductions of 12.7 billion yen, increased 4.0 billion yen year over year mainly due to the record of exchange losses resulting from the yen’s appreciation. As a result, Hitachi recorded income before income taxes of 107.0 billion yen, an improvement of 49.4 billion yen year over year. After income taxes of 26.6 billion yen, Hitachi posted net income of 80.4 billion yen, an improvement of 49.2 billion yen year over year. After deducting net income attributable to noncontrolling interests of 18.3 billion yen, Hitachi posted net income attributable to Hitachi, Ltd. of 62.0 billion yen, a 40.2 billion yen improvement year over year.

For the nine-month period ended December 31, 2010, consolidated revenues increased 8% year over year, to 6,765.8 billion yen. Hitachi recorded operating income of 337.8 billion yen, an improvement of 296.2 billion yen year over year, as all segments posted earnings and earnings growth year over year. Hitachi reported net income attributable to Hitachi, Ltd. of 220.1 billion yen, a year-over-year improvement of 331.4 billion yen.

- 4 -

(2) Revenues and Operating Income by Segment

Results by segment were as follows:

[Information & Telecommunication Systems]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		388.6		(1	%)		4,798		1,163.4		(2	%)		14,363
Operating income		18.5		4.5			229		53.0		6.8			655

For the third quarter of fiscal 2010, the segment recorded revenues of 388.6 billion yen, a decrease of 1% year over year, with hardware recording lower sales due to ongoing reductions in IT investment in Japan. This overall decrease came despite robust sales growth in storage solutions, particularly to overseas markets.

Segment operating income increased 4.5 billion yen, to 18.5 billion yen, the result of higher year-over-year operating income from hardware due to cost cutting and other factors.

For the first nine months of fiscal 2010, revenues declined 2% year over year, to 1,163.4 billion yen. Operating income, however, improved 6.8 billion yen year over year, to 53.0 billion yen.

[Power Systems]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		183.7		(7	%)		2,268		568.5		(3	%)		7,019
Operating income		4.3		1.8			54		18.6		12.3			230

For the third quarter of fiscal 2010, the segment revenues declined 7% year over year, to 183.7 billion yen, the result mainly of lower year over year sales from thermal power generation systems due to some projects being pushed back. Furthermore, in nuclear power generation systems, although the construction of new plants in Japan performed steadily, lower sales were recorded from preventative maintenance services.

Segment operating income improved 1.8 billion yen year over year, to 4.3 billion yen due to improved project management, progress with cost reduction and other factors.

For the first nine months of fiscal 2010, the segment saw revenues decrease 3%, to 568.5 billion yen, while operating income improved 12.3 billion yen, to 18.6 billion yen.

- 5 -

[Social Infrastructure & Industrial Systems]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		275.6		2	%		3,403		784.5		(2	%)		9,686
Operating income		11.9		2.2			148		22.7		13.9			280

For the third quarter of fiscal 2010, segment revenues increased 2% year over year, to 275.6 billion yen. In addition to higher plant-related equipment and construction sales, this was due to strong growth in sales of elevators and escalators to China.

Segment operating income improved 2.2 billion yen year over year, to 11.9 billion yen, reflecting higher sales of plant-related equipment and construction, and elevators and escalators.

For the first nine months of fiscal 2010, the segment saw revenues decline 2%, to 784.5 billion yen. However, operating income improved 13.9 billion yen year over year, to 22.7 billion yen.

[Electronic Systems & Equipment]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		245.5		9	%		3,032		774.6		14	%		9,563
Operating income		7.3		6.8			91		23.6		36.4			292

For the third quarter of fiscal 2010, the segment recorded a 9% year over year rise in revenues, to 245.5 billion yen. This result came on the back of higher sales of semiconductor-related manufacturing equipment, electronic component processing equipment and others in line with rebounding capital expenditures in the electronics field.

Segment operating income improved 6.8 billion yen year over year, to 7.3 billion yen due to higher sales of semiconductor-related manufacturing equipment and other products.

For the first nine months of fiscal 2010, the segment recorded a 14% year over year rise in revenues to 774.6 billion yen. Segment operating income improved 36.4 billion yen, to 23.6 billion yen.

- 6 -

[Construction Machinery]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		181.8		29	%		2,245		516.2		29	%		6,374
Operating income		12.8		10.2			159		31.1		26.9			384

For the third quarter of fiscal 2010, segment revenues increased 29% year over year, to 181.8 billion yen. In addition to growth in sales of hydraulic excavators and other products, especially to emerging economies in Asia and elsewhere, the segment revenues reflected the effect of making Indian company Telco Construction Equipment Co., Ltd. a consolidated subsidiary in March 2010.

Segment operating income improved 10.2 billion yen year over year, to 12.8 billion yen due to higher revenues.

For the first nine months of fiscal 2010, segment revenues jumped 29% year over year, to 516.2 billion yen. Operating income improved 26.9 billion yen, to 31.1 billion yen.

[High Functional Materials & Components]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		363.0		11	%		4,483		1,063.5		17	%		13,131
Operating income		23.7		5.7			293		73.9		50.9			913

For the third quarter of fiscal 2010, segment revenues rose 11% year over year, to 363.0 billion yen. This result reflects growth at Hitachi Metals, Ltd., Hitachi Cable, Ltd. and Hitachi Chemical Co., Ltd. due to healthy demand for automotive-related components and other products.

Segment operating income improved 5.7 billion yen year over year, to 23.7 billion yen, thanks to higher revenues.

For the first nine months of fiscal 2010, segment revenues increased 17% year over year, to 1,063.5 billion yen. Operating income improved 50.9 billion yen, to 73.9 billion yen.

- 7 -

[Automotive Systems]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		182.0		10	%		2,247		546.7		21	%		6,749
Operating income		5.1		2.2			64		16.1		30.3			199

For the third quarter of fiscal 2010, segment revenues rose 10% year over year, to 182.0 billion yen on the back of a global recovery in demand, particularly in emerging countries. This growth came despite the impact of the scaling back of a government program in Japan to spur vehicle sales.

Operating income improved 2.2 billion yen year over year, to 5.1 billion yen on account of improved capacity utilization in line with recovering demand, and the benefits of business structure reforms.

For the first nine months of fiscal 2010, segment revenues rose 21% year over year, to 546.7 billion yen. Operating income improved 30.3 billion yen, to 16.1 billion yen.

[Components & Devices]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		201.3		0	%		2,486		616.1		10	%		7,606
Operating income		9.6		5.1			119		39.9		48.5			493

For the third quarter of fiscal 2010, segment revenues were largely unchanged compared with the corresponding period of the previous fiscal year at 201.3 billion yen, with higher sales of HDDs, mainly for use in PCs and servers, negated by lower sales of displays, chiefly for game consoles.

Operating income improved 5.1 billion yen, to 9.6 billion yen, due to higher earnings in HDD operations on increased sales, the contribution from new products, cost reduction and others.

For the first nine months of fiscal 2010, segment revenues increased 10% year over year, to 616.1 billion yen, and operating income improved 48.5 billion yen, to 39.9 billion yen.

Note:

HDD operations are conducted by Hitachi Global Storage Technologies (Hitachi GST), which has a December 31 fiscal year-end, different from Hitachi’s March 31 year-end. Hitachi’s results for the three months ended December 31, 2010 include operating results of Hitachi GST for the three months ended September 30, 2010.

- 8 -

[Digital Media & Consumer Products]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		248.8		5	%		3,072		755.7		8	%		9,330
Operating income		9.9		6.6			122		20.8		28.8			258

For the third quarter of fiscal 2010, the segment recorded a 5% increase in revenues year over year, to 248.8 billion yen, despite optical disk drive-related products recording lower sales due to lackluster demand. The segment revenue growth reflected higher year over year sales of commercially packaged air conditioners, as well as growth in sales of flat-panel TVs, room air-conditioners, refrigerators and other products, thanks to a surge in demand before changes to the eco-points system in Japan.

Operating income improved 6.6 billion yen year over year, to 9.9 billion yen due to strong performances from products eligible for eco-points. However, optical disk drive-related products saw earnings decline in line with lower sales.

For the first nine months of fiscal 2010, segment revenues rose 8% year over year, to 755.7 billion yen. Operating income improved 28.8 billion yen, to 20.8 billion yen.

Note:

The optical disk drive operations are conducted by Hitachi-LG Data Storage, Inc. (HLDS), which has a December 31 fiscal year-end, different from Hitachi’s March 31 year-end. Hitachi’s results for the three months ended December 31, 2010 include operating results of HLDS for the three months ended September 30, 2010.

[Financial Services]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		91.3		1	%		1,128		278.0		(13	%)		3,433
Operating income		6.6		3.3			82		17.9		12.0			221

For the third quarter of fiscal 2010, the segment reported a 1% year-over-year increase in revenues, to 91.3 billion yen. This result was due to healthy growth in outsourcing and other businesses that generate revenues from commission services at Hitachi Capital Corporation.

Segment operating income improved 3.3 billion yen, to 6.6 billion yen. In addition to higher revenues, this was due to recording earnings related to receivables that were recorded as gains on sale up through March 31, 2010 in line with the consolidation of securitization entities from April 1, 2010, based on new U.S. GAAP accounting standards. The improvement also reflected reduced financing costs at Hitachi Capital Corporation.

For the first nine months of fiscal 2010, segment revenues decreased 13%, to 278.0 billion yen. Operating income improved 12.0 billion yen, to 17.9 billion yen.

- 9 -

[Others]


	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)		Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		189.6		1	%		2,342		564.9		2	%		6,975
Operating income		8.9		5.0			110		21.7		10.5			269
For the third quarter of fiscal 2010, segment revenues edged up 1% year over year, to 189.6 billion yen, due to higher revenues at Hitachi Transport System, Ltd. on healthy growth in third-party logistics solutions. Segment operating income improved 5.0 billion yen year over year, to 8.9 billion yen, mainly due to higher earnings in line with increased revenues at Hitachi Transport System, Ltd. For the first nine months of fiscal 2010, the segment recorded a 2% year-over-year increase in revenues to 564.9 billion yen, and operating income improved 10.5 billion yen, to 21.7 billion yen. (3) Revenues by Market
	Three months ended December 31, 2010							Nine months ended December 31, 2010
	Yen (billions)		Year-over-year change			U.S. dollars (millions)		Yen (billions)		Year-over-year change			U.S. dollars (millions)
Japan		1,259.9		2	%		15,555		3,783.5		4	%		46,710
Outside Japan		1,003.5		8	%		12,389		2,982.3		13	%		36,820
Asia		515.1		20	%		6,360		1,537.8		27	%		18,985
North America		192.0		6	%		2,370		572.5		7	%		7,069
Europe		188.5		(15	%)		2,328		551.8		(8	%)		6,813
Other Areas		107.7		13	%		1,330		320.2		13	%		3,953

Revenues in Japan in the third quarter of fiscal 2010 were 1,259.9 billion yen, up 2% year over year. One reason was higher revenues in the Digital Media & Consumer Products Segments driven by the impact of the eco-points system and a summer heatwave in Japan. The result also reflected higher revenues mainly in the High Functional Materials & Components, Automotive Systems, and Social Infrastructure & Industrial Systems segments in line with recovering demand in the electronics- and automotive-related fields, among other factors.

Outside Japan revenues increased 8%, to 1,003.5 billion yen. In addition to higher sales in the Construction Machinery Segment, mainly to emerging countries, the Electronic Systems & Equipment, High Functional Materials & Components, Components & Devices and Automotive Systems segments posted strong revenue growth because of recovering demand in the electronics- and automotive-related fields.

As a result, the ratio of overseas revenues to consolidated revenues increased 1 point year over year to 44%.

- 10 -

For the first nine months of fiscal 2010, revenues in Japan increased 4% year over year, to 3,783.5 billion yen. Overseas revenues increased 13%, to 2,982.3 billion yen.

(4) Capital Investment, Depreciation and R&D Expenditures

Capital investment on a completion basis, excluding leasing assets, increased 34% year over year, to 69.1 billion yen, primarily due to investments for boosting production to meet recovering demand.

Depreciation, excluding leasing assets, decreased 16% year over year, to 74.4 billion yen, primarily due to the strict selection of capital investments through the previous quarter.

R&D expenditures increased 6% year over year, to 95.5 billion yen, which corresponded to 4.2% of consolidated revenues. The increase was due mainly to further R&D investment to strengthen the Social Innovation Business.

For the first nine months of fiscal 2010, capital investments on a completion basis, excluding leasing assets, increased 6%, to 189.4 billion yen. Depreciation, excluding leasing assets, declined 16%, to 224.7 billion yen. R&D expenditures were up 8% at 290.4 billion yen, corresponding to 4.3% of consolidated revenues.

2. Financial Position

(1) Financial Position


	As of December 31, 2010
	Yen (billions)			Change from March 31, 2010		U.S. dollars (millions)
Total assets		9,305.2			340.7		114,879
Total liabilities		6,855.0			158.4		84,631
Interest-bearing debt		2,824.3			457.1		34,868
Total Hitachi, Ltd. stockholders’ equity		1,449.6			165.0		17,897
Noncontrolling interests		1,000.4			17.2		12,352
Total Hitachi, Ltd. stockholders’ equity ratio		15.6	%		1.3 point improvement		—
D/E ratio (including noncontrolling interests)*¹		1.15 times			0.23 point improvement		—
D/E ratio (including noncontrolling interests)*²		0.95 times			0.09 point improvement		—

*1:	Including liabilities (current and noncurrent) associated with the consolidation of securitization entities.

*2:	Excluding liabilities (current and noncurrent) associated with the consolidation of securitization entities.

Total assets as of December 31, 2010 increased 340.7 billion yen from March 31, 2010, to 9,305.2 billion yen. This resulted from the recording of financial assets that had been transferred off the balance sheet to securitization entities in accordance with the application of new U.S. GAAP accounting standards effective April 1, 2010. Similarly, interest-bearing liabilities increased by 457.1 billion yen, to 2,824.3 billion yen due to the recording of liabilities associated with the consolidation of securitization entities. Stockholders’ equity increased 165.0 billion yen, to 1,449.6 billion yen from March 31, 2010 due mainly to the improvement in net income attributable to Hitachi, Ltd. As a result, the total Hitachi, Ltd. stockholders’ equity ratio was 15.6%. The debt-to-equity ratio, including noncontrolling interests, was 1.15. Excluding the impact of adopting new accounting standards, the debt-to-equity ratio, including noncontrolling interests, improved 0.09 points to 0.95.

- 11 -

(2) Cash Flows


	Three months ended December 31, 2010									Nine months ended December 31, 2010
	Yen (billions)			Year-over-year change			U.S. dollars (millions)			Yen (billions)			Year-over-year change			U.S. dollars (millions)
Cash flows from operating activities		42.0			(12.5	)		520			419.6			32.4			5,181
Cash flows from investing activities		(49.0	)		39.3			(605	)		(154.6	)		189.6			(1,909	)
Free cash flows		(6.9	)		26.8			(86	)		264.9			222.0			3,271
Cash flows from financing activities		(65.3	)		(207.2	)		(806	)		(259.2	)		(135.6	)		(3,200	)

Operating activities in the third quarter of fiscal 2010 provided net cash of 42.0 billion yen, a year-over-year decrease of 12.5 billion yen, due mainly to an increase in inventories to be sold at the end of the fiscal year. This year over year decrease was despite a marked improvement in net income.

Investing activities used net cash of 49.0 billion yen, 39.3 billion yen less year over year, mainly due to the strict selection of capital expenditures.

Free cash flows, the sum of cash flows from operating and investing activities, was a negative figure of 6.9 billion yen.

Financing activities used net cash of 65.3 billion yen due to the progress in debt repayment and increased dividend payments.

The net result of the above items was a decrease of 77.1 billion yen in cash and cash equivalents, to 556.6 billion yen.

For the first nine months of fiscal 2010, operating activities provided net cash of 419.6 billion yen, an increase of 32.4 billion yen year over year. This reflected a marked improvement in net income.

Investing activities during the same period used net cash of 154.6 billion yen, 189.6 billion yen less year over year. This decrease was attributable to the strict selection of investments, including the acquisition of property, plant and equipment, and shares. It also reflected the selling of certain shareholdings.

Free cash flows, the sum of cash flows from operating and investing activities, was 264.9 billion yen, a 222.0 billion yen improvement year over year.

Financing activities used net cash of 259.2 billion yen, 135.6 billion yen more than the corresponding nine-month period of the previous fiscal year. In addition to the repayment of debt, this was due to higher dividend payments.

Free cash flows increased in both the three- and nine-month periods due to the consolidation of securitization entities in accordance with the application of new U.S. GAAP accounting standards effective from April 1, 2010. However, the application of these standards had almost the same effect on cash outflows in financing activities.

- 12 -

3. Outlook for Fiscal 2010


	Year ending March 31, 2011
	Yen (billions)		Year-over-year change (% or billions yen)			U.S. dollars (millions)
Revenues		9,300.0		4	%		116,250
Operating income		440.0		237.8			5,500
Income before income taxes		430.0		366.4			5,375
Net Income		305.0		389.3			3,813
Net Income attributable to Hitachi, Ltd.		230.0		336.9			2,875

Note:

All fiscal 2010 outlook figures were converted using 80 yen to the U.S. dollar.

The above forecasts for fiscal 2010 are based on a steady contribution from the Social Innovation Business, accelerated global expansion, the benefits of business structure reforms, and progress with ongoing cost-containment initiatives on procurement costs and fixed expenses. The forecast also takes into account the uncertainty surrounding the global economic outlook and expected impact of the yen’s appreciation.

Hitachi is forecasting overall revenues in line with its previous projections. The Company expects to see higher revenues than its previous forecast announced on October 28, 2010 in the Automotive Systems, Digital Media & Consumer Products, Social Infrastructure & Industrial Systems, and Components & Devices segments. This is due to recovering demand in the electronics- and automotive-related fields, as well as the benefits of economic stimulus measures around the world, among other factors. However, Hitachi also expects lower revenues in the Power Systems segment, where some projects have been pushed back, as well as the High Functional Materials & Components segment.

Hitachi has raised its projection for operating income from its previous forecast. The revised projection is based mainly on improved earnings in the Digital Media & Consumer Products, Components & Devices and Social Infrastructure & Industrial Systems segments due to stepped-up cost-cutting activities, including fixed expenses. Accompanied with an improvement in net other deductions, Hitachi has also raised its forecasts for income before income taxes, net income and net income attributable to Hitachi, Ltd.

Hitachi is assuming exchange rates of 80 yen to the U.S. dollar and 110 yen to the euro for the fourth quarter of fiscal 2010.

- 13 -

Other

(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries causing changes in scope of consolidation).

None

(2) Application of simple accounting treatment and/or specific accounting treatment in preparing the quarterly consolidated financial statements.

Yes

(3) Changes in accounting principles, procedures and presentation methods for preparing quarterly consolidated financial statements.

Yes

Cautionary Statement

Certain statements found in this document may constitute “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” reflect management’s current views with respect to certain future events and financial performance and include any statement that does not directly relate to any historical or current fact. Words such as “anticipate,” “believe,” “expect,” “estimate,” “forecast,” “intend,” “plan,” “project” and similar expressions which indicate future events and trends may identify “forward-looking statements.” Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or implied in the “forward-looking statements” and from historical trends. Certain “forward-looking statements” are based upon current assumptions of future events which may not prove to be accurate. Undue reliance should not be placed on “forward-looking statements,” as such statements speak only as of the date of this document.

Factors that could cause actual results to differ materially from those projected or implied in any “forward-looking statement” and from historical trends include, but are not limited to:

•

economic conditions, including consumer spending and plant and equipment investments in Hitachi’s major markets, particularly Japan, Asia, the United States and Europe, as well as levels of demand in the major industrial sectors which Hitachi serves, including, without limitation, the information, electronics, automotive, construction and financial sectors;

•

exchange rate fluctuations for the yen and other currencies in which Hitachi makes significant sales or in which Hitachi’s assets and liabilities are denominated, particularly against the U.S. dollar and the euro;

•

uncertainty as to Hitachi’s ability to access, or access on favorable terms, liquidity or long-term financing;

•

uncertainty as to general market price levels for equity securities in Japan, declines in which may require Hitachi to write down equity securities that it holds;

•

the potential for significant losses on Hitachi’s investments in equity method affiliates;

•

increased commoditization of information technology products and digital media-related products and intensifying price competition for such products, particularly in the Components & Devices and the Digital Media & Consumer Products segments;

•

uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technology on a timely and cost-effective basis and to achieve market acceptance for such products;

•

rapid technological innovation;

•

the possibility of cost fluctuations during the lifetime of or cancellation of long-term contracts, for which Hitachi uses the percentage-of-completion method to recognize revenue from sales;

•

fluctuations in the price of raw materials including, without limitation, petroleum and other materials, such as copper, steel, aluminum and synthetic resins and shortages of materials, parts and components;

•

fluctuations in product demand and industry capacity;

•

uncertainty as to Hitachi’s ability to implement measures to reduce the potential negative impact of fluctuations in product demand, exchange rates and/or price of raw materials and shortages of materials, parts and components;

- 14 -

•

uncertainty as to Hitachi’s ability to achieve the anticipated benefits of its strategy to strengthen its Social Innovation Business;

•

uncertainty as to the success of restructuring efforts to improve management efficiency by divesting or otherwise exiting underperforming businesses and to strengthen competitiveness and other cost reduction measures;

•

general socio-economic and political conditions and the regulatory and trade environment of countries where Hitachi conducts business, particularly Japan, Asia, the United States and Europe, including, without limitation, direct or indirect restrictions by other nations on imports, or differences in commercial and business customs including, without limitation, contract terms and conditions and labor relations;

•

uncertainty as to the success of alliances upon which Hitachi depends, some of which Hitachi may not control, with other corporations in the design and development of certain key products;

•

uncertainty as to Hitachi’s access to, or ability to protect, certain intellectual property rights, particularly those related to electronics and data processing technologies;

•

uncertainty as to the outcome of litigation, regulatory investigations and other legal proceedings of which the Company, its subsidiaries or its equity method affiliates have become or may become parties;

•

the possibility of incurring expenses resulting from any defects in products or services of Hitachi;

•

the possibility of disruption of Hitachi’s operations in Japan by earthquakes or other natural disasters;

•

uncertainty as to Hitachi’s ability to maintain the integrity of its information systems, as well as Hitachi’s ability to protect its confidential information and that of its customers;

•

uncertainty as to the accuracy of key assumptions Hitachi uses to valuate its significant employee benefit related costs; and

•

uncertainty as to Hitachi’s ability to attract and retain skilled personnel.

The factors listed above are not all-inclusive and are in addition to other factors contained in Hitachi’s periodic filings with the U.S. Securities and Exchange Commission and in other materials published by Hitachi.

- 15 -

Consolidated Statements of Operations


	Three months ended December 31								Nine months ended December 31
	Yen (millions)				(B)/(A) X100 (%)		U.S. $ (millions)		Yen (millions)					(D)/(C) X100 (%)		U.S. $ (millions)
	2009 (A)		2010 (B)		(B)/(A) X100 (%)		2010		2009 (C)			2010 (D)		(D)/(C) X100 (%)		2010
Revenues		2,157,906		2,263,445		105		27,944		6,282,864			6,765,896		108		83,530
Cost of sales		1,624,195		1,676,078		103		20,692		4,824,521			5,009,909		104		61,851
Selling, general and administrative expenses		467,351		467,527		100		5,772		1,416,743			1,418,099		100		17,507
Operating income		66,360		119,840		181		1,480		41,600			337,888		812		4,171
Other income		9,969		5,607		56		69		13,018			84,477		649		1,043
(Interest and dividends)		3,487		4,107		118		51		12,835			13,200		103		163
(Other)		6,482		1,500		23		19		183			71,277		—		880
Other deductions		18,724		18,406		98		227		107,152			51,516		48		636
(Interest charges)		6,426		6,448		100		80		19,984			18,875		94		233
(Other)		12,298		11,958		97		148		87,168			32,641		37		403
Income (loss) before income taxes		57,605		107,041		186		1,321		(52,534	)		370,849		—		4,578
Income taxes		26,401		26,628		101		329		55,136			85,999		156		1,062
Net income (loss)		31,204		80,413		258		993		(107,670	)		284,850		—		3,517
Less: Net income attributable to noncontrolling interests		9,322		18,322		197		226		3,669			64,710		—		799
Net income (loss) attributable to Hitachi, Ltd.		21,882		62,091		284		767		(111,339	)		220,140		—		2,718

- 16 -

Consolidated Balance Sheets


	Yen (millions)									U.S. Dollars (millions)
	As of March 31, 2010 (A)			As of December 31, 2010 (B)			(B)-(A)			As of December 31, 2010
	As of March 31, 2010 (A)			As of December 31, 2010 (B)			(B)-(A)			As of December 31, 2010
Total Assets		8,964,464			9,305,219			340,755			114,879
Current assets		4,775,197			4,982,251			207,054			61,509
Cash and cash equivalents		577,584			556,694			(20,890	)		6,873
Short-term investments		53,575			16,626			(36,949	)		205
Trade receivables
Notes		104,353			118,143			13,790			1,459
Accounts		2,138,139			1,907,359			(230,780	)		23,548
Investments in leases		194,108			214,130			20,022			2,644
Current portion of financial assets transferred to consolidated securitization entities		—			211,404			211,404			2,610
Inventories		1,222,077			1,476,440			254,363			18,228
Other current assets		485,361			481,455			(3,906	)		5,944
Investments and advances		712,993			618,391			(94,602	)		7,634
Property, plant and equipment		2,219,804			2,127,932			(91,872	)		26,271
Intangible assets		518,050			509,029			(9,021	)		6,284
Financial assets transferred to consolidated securitization entities		—			337,517			337,517			4,167
Other assets		738,420			730,099			(8,321	)		9,014

Total Liabilities and Equity		8,964,464			9,305,219			340,755			114,879
Current liabilities		3,931,203			4,077,668			146,465			50,342
Short-term debt and current portion of long-term debt		755,181			933,084			177,903			11,520
Current portion of non-recourse borrowings of consolidated securitization entities		—			209,961			209,961			2,592
Trade payables
Notes		25,737			22,413			(3,324	)		277
Accounts		1,229,546			1,222,757			(6,789	)		15,096
Advances received		385,199			400,333			15,134			4,942
Other current liabilities		1,535,540			1,289,120			(246,420	)		15,915
Noncurrent liabilities		2,765,416			2,777,420			12,004			34,289
Long-term debt		1,611,962			1,413,557			(198,405	)		17,451
Non-recourse borrowings of consolidated securitization entities		—			267,735			267,735			3,305
Retirement and severance benefits		905,183			861,425			(43,758	)		10,635
Other liabilities		248,271			234,703			(13,568	)		2,898
Total equity		2,267,845			2,450,131			182,286			30,249
Total Hitachi, Ltd. stockholders’ equity		1,284,658			1,449,658			165,000			17,897
Common stock		408,810			408,818			8			5,047
Capital surplus		620,577			603,085			(17,492	)		7,445
Legal reserve and retained earnings		713,479			903,307			189,828			11,152
Accumulated other comprehensive loss		(432,057	)		(464,209	)		(32,152	)		(5,731	)
(Foreign currency translation adjustments)		(182,783	)		(252,178	)		(69,395	)		(3,113	)
(Pension liability adjustments)		(272,410	)		(227,939	)		44,471			(2,814	)
(Net unrealized holding gain on available-for-sale securities)		25,564			16,821			(8,743	)		208
(Cash flow hedges)		(2,428	)		(913	)		1,515			(11	)
Treasury stock		(26,151	)		(1,343	)		24,808			(17	)
Noncontrolling interests		983,187			1,000,473			17,286			12,352

Note:

Figures of Intangible assets and Other liabilities as of March 31, 2010 have been restated since the fair value measurement related to a business combination recorded in March 31, 2010 was finalized in this nine-month period.

- 17 -

Consolidated Statements of Cash Flows


	Three months ended December 31									Nine months ended December 31
	Yen (millions)						U.S. $ (millions)			Yen (millions)						U.S. $ (millions)
	2009			2010			2010			2009			2010			2010
Cash flows from operating activities
Net income (loss)		31,204			80,413			993			(107,670	)		284,850			3,517

Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation		109,208			92,761			1,145			333,085			282,611			3,489
Amortization		25,952			29,111			359			86,570			85,614			1,057
Net loss (gain) on sale of investments in securities and other		(3,598	)		915			11			(5,042	)		(72,499	)		(895	)
Decrease (increase) in receivables		(52,999	)		(55,634	)		(687	)		177,137			153,487			1,895
Increase in inventories		(75,903	)		(134,542	)		(1,661	)		(15,204	)		(317,302	)		(3,917	)
Increase (decrease) in payables		70,409			70,312			868			(55,112	)		54,221			669
Other		(49,651	)		(41,244	)		(509	)		(26,579	)		(51,358	)		(634	)

Net cash provided by operating activities		54,622			42,092			520			387,185			419,624			5,181

Cash flows from investing activities
Purchase of property, plant and equipment, net		(59,127	)		(61,829	)		(763	)		(213,702	)		(160,932	)		(1,987	)
Purchase of intangible assets, net		(16,429	)		(20,472	)		(253	)		(55,382	)		(66,908	)		(826	)
Purchase of tangible assets and software to be leased, net		(52,196	)		(63,199	)		(780	)		(184,621	)		(192,916	)		(2,382	)
Proceeds from sale (purchase) of investments in securities and shares of consolidated subsidiaries resulting in deconsolidation, net		218			22,054			272			(31,715	)		60,562			748
Collection of investments in leases		39,517			70,014			864			122,385			221,219			2,731
Other		(363	)		4,406			54			18,762			(15,691	)		(194	)

Net cash used in investing activities		(88,380	)		(49,026	)		(605	)		(344,273	)		(154,666	)		(1,909	)

Cash flows from financing activities
Increase (decrease) in interest-bearing debt		157,016			(34,738	)		(429	)		(93,921	)		(212,415	)		(2,622	)
Proceeds from issuance of common stock		252,447			—			—			252,447			—			—
Dividends paid to stockholders		—			(22,613	)		(279	)		(134	)		(22,625	)		(279	)
Dividends paid to noncontrolling interests		(7,933	)		(7,752	)		(96	)		(21,493	)		(18,192	)		(225	)
Other		(259,545	)		(208	)		(3	)		(260,489	)		(5,976	)		(74	)

Net cash provided by (used in) financing activities		141,985			(65,311	)		(806	)		(123,590	)		(259,208	)		(3,200	)

Effect of consolidation of securitization entities upon initial adoption of new accounting guidances		—			—			—			—			12,030			149
Effect of exchange rate changes on cash and cash equivalents		489			(4,878	)		(60	)		(1,087	)		(38,670	)		(477	)

Net increase (decrease) in cash and cash equivalents		108,716			(77,123	)		(952	)		(81,765	)		(20,890	)		(258	)

Cash and cash equivalents at beginning of the period		617,445			633,817			7,825			807,926			577,584			7,131


Cash and cash equivalents at end of the period		726,161			556,694			6,873			726,161			556,694			6,873

- 18 -

Segment Information

(1) Business Segments


	Three months ended December 31											Nine months ended December 31
	Yen (millions)						(B)/(A) X100 (%)		U.S. $ (millions)			Yen (millions)						(D)/(C) X100 (%)		U.S. $ (millions)
	2009 (A)			2010 (B)			(B)/(A) X100 (%)		2010			2009 (C)			2010 (D)			(D)/(C) X100 (%)		2010
Information & Telecommunication Systems		392,046			388,609			99		4,798			1,186,841			1,163,425			98		14,363
Information & Telecommunication Systems		16	%		15	%							17	%		15	%
Power Systems		197,812			183,739			93		2,268			587,485			568,552			97		7,019
Power Systems		8	%		7	%							8	%		8	%
Social Infrastructure & Industrial Systems		269,775			275,638			102		3,403			804,428			784,548			98		9,686
Social Infrastructure & Industrial Systems		11	%		11	%							11	%		10	%
Electronic Systems & Equipment		226,277			245,599			109		3,032			677,597			774,640			114		9,563
Electronic Systems & Equipment		9	%		10	%							9	%		10	%
Construction Machinery		140,952			181,859			129		2,245			399,973			516,260			129		6,374
Construction Machinery		6	%		7	%							6	%		7	%
High Functional Materials & Components		327,597			363,097			111		4,483			908,091			1,063,580			117		13,131
High Functional Materials & Components		13	%		14	%							13	%		14	%
Automotive Systems		165,597			182,039			110		2,247			452,215			546,702			121		6,749
Automotive Systems		7	%		7	%							6	%		7	%
Components & Devices		201,852			201,372			100		2,486			557,674			616,112			110		7,606
Components & Devices		8	%		8	%							8	%		8	%
Digital Media & Consumer Products		237,430			248,849			105		3,072			698,783			755,763			108		9,330
Digital Media & Consumer Products		10	%		10	%							10	%		10	%
Financial Services		90,072			91,386			101		1,128			320,228			278,038			87		3,433
Financial Services		4	%		4	%							4	%		4	%
Others		187,917			189,692			101		2,342			554,378			564,965			102		6,975
Others		8	%		7	%							8	%		7	%
Subtotal		2,437,327			2,551,879			105		31,505			7,147,693			7,632,585			107		94,229
Subtotal		100	%		100	%							100	%		100	%
Eliminations & Corporate Items		(279,421	)		(288,434	)		—		(3,561	)		(864,829	)		(866,689	)		—		(10,700	)

Revenues Total		2,157,906			2,263,445			105		27,944			6,282,864			6,765,896			108		83,530


Notes	1:	Revenues by business segment include intersegment transactions.
	2:	The Company has changed the business segment classification starting from Fiscal 2009.
		Figures of business segments are based on the reclassification.

- 19 -


	Three months ended December 31										Nine months ended December 31
	Yen (millions)						(B)/(A) X100 (%)		U.S. $ (millions)		Yen (millions)						(D)/(C) X100 (%)		U.S. $ (millions)
	2009 (A)			2010 (B)			(B)/(A) X100 (%)		2010		2009 (C)			2010 (D)			(D)/(C) X100 (%)		2010
Information & Telecommunication Systems		13,967			18,515			133		229		46,271			53,071			115		655
Information & Telecommunication Systems		21	%		16	%		133		229		75	%		16	%		115		655
Power Systems		2,453			4,343			177		54		6,271			18,655			297		230
Power Systems		4	%		4	%		177		54		10	%		5	%		297		230
Social Infrastructure & Industrial Systems		9,680			11,958			124		148		8,728			22,712			260		280
Social Infrastructure & Industrial Systems		15	%		10	%		124		148		14	%		7	%		260		280
Electronic Systems & Equipment		533			7,394			—		91		(12,810	)		23,675			—		292
Electronic Systems & Equipment		1	%		6	%		—		91		(21	%)		7	%		—		292
Construction Machinery		2,595			12,869			496		159		4,166			31,100			747		384
Construction Machinery		4	%		11	%		496		159		7	%		9	%		747		384
High Functional Materials & Components		17,980			23,706			132		293		23,036			73,960			321		913
High Functional Materials & Components		28	%		20	%		132		293		37	%		22	%		321		913
Automotive Systems		2,894			5,185			179		64		(14,208	)		16,102			—		199
Automotive Systems		4	%		4	%		179		64		(23	%)		5	%		—		199
Components & Devices		4,518			9,635			213		119		(8,614	)		39,928			—		493
Components & Devices		7	%		8	%		213		119		(14	%)		12	%		—		493
Digital Media & Consumer Products		3,226			9,902			307		122		(8,008	)		20,876			—		258
Digital Media & Consumer Products		5	%		8	%		307		122		(13	%)		6	%		—		258
Financial Services		3,277			6,650			203		82		5,843			17,919			307		221
Financial Services		5	%		6	%		203		82		10	%		5	%		307		221
Others		3,866			8,927			231		110		11,184			21,765			195		269
Others		6	%		7	%		231		110		18	%		6	%		195		269
Subtotal		64,989			119,084			183		1,470		61,859			339,763			549		4,195
Subtotal		100	%		100	%		183		1,470		100	%		100	%		549		4,195
Eliminations & Corporate Items		1,371			756			—		9		(20,259	)		(1,875	)		—		(23	)

Operating income (loss) Total		66,360			119,840			181		1,480		41,600			337,888			812		4,171


Note:				The Company has changed the business segment classification starting from Fiscal 2009.
				Figures of business segments are based on the reclassification.

- 20 -

(2) Revenues by Market


	Three months ended December 31										Nine months ended December 31
	Yen (millions)						(B)/(A) X100 (%)		U.S. $ (millions)		Yen (millions)						(D)/(C) X100 (%)		U.S. $ (millions)
	2009 (A)			2010 (B)			(B)/(A) X100 (%)		2010		2009 (C)			2010 (D)			(D)/(C) X100 (%)		2010
Japan		1,232,743 57	%		1,259,938 56	%		102		15,555		3,653,117 58	%		3,783,501 56	%		104		46,710
Asia		428,032 20	%		515,187 23	%		120		6,360		1,210,929 19	%		1,537,800 23	%		127		18,985
North America		180,772 8	%		192,005 8	%		106		2,370		534,711 9	%		572,557 8	%		107		7,069
Europe		221,058 10	%		188,586 8	%		85		2,328		600,893 10	%		551,838 8	%		92		6,813
Other Areas		95,301 5	%		107,729 5	%		113		1,330		283,214 4	%		320,200 5	%		113		3,953
Outside Japan		925,163 43	%		1,003,507 44	%		108		12,389		2,629,747 42	%		2,982,395 44	%		113		36,820
Total		2,157,906 100	%		2,263,445 100	%		105		27,944		6,282,864 100	%		6,765,896 100	%		108		83,530

- 21 -

February 3, 2011

Hitachi, Ltd.

Supplementary Information for the Third Quarter ended December 31, 2010

1. Summary(Consolidated basis)


	2009						2010
	Three months ended December 31			Nine months ended December 31			Three months ended December 31						Nine months ended December 31						Total (Forecast)
	(A)			(B)			(C)			(C)/(A)X100			(D)			(D)/(B)X100			(E)		(E)/FY2009X100
Revenues^*1		2,157.9			6,282.8			2,263.4			105	%		6,765.8			108	%		9,300.0		104	%
Operating income^*1		66.3			41.6			119.8			181	%		337.8			812	%		440.0		218	%
Percentage of revenues		3.1			0.7			5.3			—			5.0			—			4.7		—
Income (loss) before income taxes^*1		57.6			(52.5	)		107.0			186	%		370.8			—			430.0		676	%
Net income (loss)^*1		31.2			(107.6	)		80.4			258	%		284.8			—			305.0		—
Net income (loss) attributable to Hitachi, Ltd.^*1		21.8			(111.3	)		62.0			284	%		220.1			—			230.0		—
Average exchange rate (yen/U.S.$)		90			94			83			—			87			—			—		—
Net interest and dividends^*1		(2.9	)		(7.1	)		(2.3	)		—			(5.6	)		—			—		—

*1	Billions of yen

Assumed exchange rate for the 4th quarter of fiscal 2010(yen / U.S.$): 80


	As of March 31, 2010		As of December 31, 2010
Cash & cash equivalents, Short-term investments (billions of yen)		631.1		573.3
Interest-bearing debt^*2 (billions of yen)		3,110.7		2,824.3
Interest-bearing debt^*3 (billions of yen)		2,367.1		2,347.3
D/E Ratio (Including Noncontrolling interests)^*2 (times)		1.38		1.15
D/E Ratio (Including Noncontrolling interests)^*3 (times)		1.04		0.95
Number of employees		359,746		355,499
Japan		230,948		213,331
Overseas		128,798		142,168
Number of consolidated subsidiaries (Including Variable Interest Entities)		900		894
Japan		365		346
Overseas		535		548

*2	Including liabilities (current and noncurrent) associated with the consolidation of securitization entities.

*3	Excluding liabilities (current and noncurrent) associated with the consolidation of securitization entities.

- 22 -

2. Consolidated Revenues by Business Segment^*4


	(Billions of yen)

	2009						2010
	Three months ended December 31			Nine months ended December 31			Three months ended December 31						Nine months ended December 31						Total (Forecast)
	(A)			(B)			(C)			(C)/(A)X100			(D)			(D)/(B)X100			(E)			(E)/FY2009X100
Information & Telecommunication Systems		392.0			1,186.8			388.6			99	%		1,163.4			98	%		1,730.0			101	%
Power Systems		197.8			587.4			183.7			93	%		568.5			97	%		840.0			95	%
Social Infrastructure & Industrial Systems		269.7			804.4			275.6			102	%		784.5			98	%		1,170.0			94	%
Electronic Systems & Equipment		226.2			677.5			245.5			109	%		774.6			114	%		1,090.0			109	%
Construction Machinery		140.9			399.9			181.8			129	%		516.2			129	%		720.0			123	%
High Functional Materials & Components		327.5			908.0			363.0			111	%		1,063.5			117	%		1,400.0			112	%
Automotive Systems		165.5			452.2			182.0			110	%		546.7			121	%		740.0			116	%
Components & Devices		201.8			557.6			201.3			100	%		616.1			110	%		810.0			107	%
Digital Media & Consumer Products		237.4			698.7			248.8			105	%		755.7			108	%		950.0			102	%
Financial Services		90.0			320.2			91.3			101	%		278.0			87	%		350.0			83	%
Others		187.9			554.3			189.6			101	%		564.9			102	%		760.0			100	%
Subtotal		2,437.3			7,147.6			2,551.8			105	%		7,632.5			107	%		10,560.0			104	%
Eliminations & Corporate Items		(279.4	)		(864.8	)		(288.4	)		—			(866.6	)		—			(1,260.0	)		—
Total		2,157.9			6,282.8			2,263.4			105	%		6,765.8			108	%		9,300.0			104	%

*4	The Company has changed the business segment classification started from Fiscal 2009. Figures of business segments is based on the reclassification.

3. Consolidated Operating Income (Loss) by Business Segment^*4


	(Billions of yen)

	2009					2010
	Three months ended December 31		Nine months ended December 31			Three months ended December 31					Nine months ended December 31						Total (Forecast)
	(A)		(B)			(C)		(C)/(A)X100			(D)			(D)/(B)X100			(E)			(E)/FY2009X100
Information & Telecommunication Systems		13.9		46.2			18.5		133	%		53.0			115	%		100.0			106	%
Power Systems		2.4		6.2			4.3		177	%		18.6			297	%		29.0			131	%
Social Infrastructure & Industrial Systems		9.6		8.7			11.9		124	%		22.7			260	%		48.0			114	%
Electronic Systems & Equipment		0.5		(12.8	)		7.3		—			23.6			—			40.0			—
Construction Machinery		2.5		4.1			12.8		496	%		31.1			747	%		44.0			249	%
High Functional Materials & Components		17.9		23.0			23.7		132	%		73.9			321	%		85.0			191	%
Automotive Systems		2.8		(14.2	)		5.1		179	%		16.1			—			22.0			—
Components & Devices		4.5		(8.6	)		9.6		213	%		39.9			—			46.0			—
Digital Media & Consumer Products		3.2		(8.0	)		9.9		307	%		20.8			—			15.0			—
Financial Services		3.2		5.8			6.6		203	%		17.9			307	%		21.0			247	%
Others		3.8		11.1			8.9		231	%		21.7			195	%		23.0			118	%
Subtotal		64.9		61.8			119.0		183	%		339.7			549	%		473.0			204	%
Eliminations & Corporate Items		1.3		(20.2	)		0.7		—			(1.8	)		—			(33.0	)		—
Total		66.3		41.6			119.8		181	%		337.8			812	%		440.0			218	%

- 23 -

4. Consolidated Overseas Revenues by Business Segment^*4*5


							(Billions of yen)

	2009						2010
	Three months ended December 31			Nine months ended December 31			Three months ended December 31						Nine months ended December 31
	(A)			(B)			(C)			(C)/(A)X100			(D)			(D)/(B)X100
Information & Telecommunication Systems		101.2			276.5			107.3			106	%		290.4			105	%
Power Systems		92.2			250.7			83.2			90	%		237.7			95	%
Social Infrastructure & Industrial Systems		72.6			209.6			70.2			97	%		193.4			92	%
Electronic Systems & Equipment		116.0			340.9			135.6			117	%		416.6			122	%
Construction Machinery		96.8			279.6			135.8			140	%		394.8			141	%
High Functional Materials & Components		116.3			338.9			133.0			114	%		402.5			119	%
Automotive Systems		68.8			190.4			75.1			109	%		228.4			120	%
Components & Devices		139.4			386.9			150.1			108	%		454.2			117	%
Digital Media & Consumer Products		113.4			337.5			102.4			90	%		346.9			103	%
Financial Services		12.1			36.9			11.8			98	%		35.1			95	%
Others		21.3			58.0			27.2			128	%		75.0			129	%
Subtotal		950.6			2,706.3			1,032.3			109	%		3,075.5			114	%
Eliminations & Corporate Items		(25.5	)		(76.6	)		(28.8	)		—			(93.1	)		—
Total		925.1			2,629.7			1,003.5			108	%		2,982.3			113	%

*5	Starting from current period, the figures, which also includes previous period, of Consolidated Overseas Revenues by Business Segment has changed to include intersegment transaction.

5. Consolidated Capital Investment by Business Segment (Completion basis, including leasing assets)^*4


							(Billions of yen)

	2009						2010
	Three months ended December 31			Nine months ended December 31			Three months ended December 31						Nine months ended December 31
	(A)			(B)			(C)			(C)/(A)X100			(D)			(D)/(B)X100
Information & Telecommunication Systems		3.5			18.8			5.8			163	%		21.2			113	%
Power Systems		5.2			21.0			1.6			31	%		7.2			35	%
Social Infrastructure & Industrial Systems		3.7			15.0			3.1			82	%		11.7			78	%
Electronic Systems & Equipment		2.2			7.4			2.9			129	%		9.3			126	%
Construction Machinery		9.4			25.6			11.2			119	%		26.4			103	%
High Functional Materials & Components		11.0			36.2			15.9			145	%		42.4			117	%
Automotive Systems		2.8			11.1			4.8			170	%		10.7			97	%
Components & Devices		12.3			29.9			16.2			132	%		41.7			139	%
Digital Media & Consumer Products		2.7			10.5			3.2			118	%		10.0			95	%
Financial Services		66.2			212.2			72.2			109	%		211.6			100	%
Others		5.0			17.6			11.3			224	%		23.0			131	%
Subtotal		124.6			405.6			148.6			119	%		415.7			102	%
Eliminations & Corporate Items		(4.2	)		(13.8	)		(7.8	)		—			(11.3	)		—
Total		120.4			391.8			140.8			117	%		404.3			103	%
Internal Use Assets		51.5			178.9			69.1			134	%		189.4			106	%
Leasing Assets		68.8			212.8			71.7			104	%		214.9			101	%

- 24 -

6. Consolidated Depreciation by Business Segment^*4


	(Billions of yen)

	2009				2010
	Three months ended December 31		Nine months ended December 31		Three months ended December 31					Nine months ended December 31
	(A)		(B)		(C)		(C)/(A)X100			(D)		(D)/(B)X100
Information & Telecommunication Systems		9.1		28.8		8.4		92	%		25.7		89	%
Power Systems		5.6		16.6		4.3		77	%		13.2		80	%
Social Infrastructure & Industrial Systems		6.3		18.9		5.1		80	%		15.5		82	%
Electronic Systems & Equipment		4.2		12.2		3.2		76	%		9.6		78	%
Construction Machinery		9.7		29.3		8.5		88	%		25.5		87	%
High Functional Materials & Components		19.3		58.1		16.7		87	%		51.0		88	%
Automotive Systems		8.5		26.4		6.8		80	%		20.2		77	%
Components & Devices		16.4		48.2		13.4		82	%		40.5		84	%
Digital Media & Consumer Products		5.8		17.9		5.2		90	%		15.0		84	%
Financial Services		15.0		50.1		13.2		88	%		43.1		86	%
Others		8.3		24.4		6.7		82	%		20.3		83	%
Subtotal		108.6		331.4		92.0		85	%		280.1		85	%
Eliminations & Corporate Items		0.5		1.6		0.7		138	%		2.5		150	%
Total		109.2		333.0		92.7		85	%		282.6		85	%
Internal Use Assets		89.0		268.3		74.4		84	%		224.7		84	%
Leasing Assets		20.1		64.7		18.3		91	%		57.8		89	%

7. Consolidated R&D Expenditure by Business Segment^*4


	(Billions of yen)

	2009				2010
	Three months ended December 31		Nine months ended December 31		Three months ended December 31					Nine months ended December 31
	(A)		(B)		(C)		(C)/(A)X100			(D)		(D)/(B)X100
Information & Telecommunication Systems		18.8		59.5		17.4		92	%		57.7		97	%
Power Systems		3.5		11.3		3.7		104	%		11.3		100	%
Social Infrastructure & Industrial Systems		4.5		13.7		5.2		116	%		15.1		110	%
Electronic Systems & Equipment		10.3		31.8		11.4		111	%		33.1		104	%
Construction Machinery		3.8		10.9		4.0		104	%		12.2		112	%
High Functional Materials & Components		11.3		33.3		12.2		108	%		35.3		106	%
Automotive Systems		10.2		28.6		11.3		111	%		33.4		117	%
Components & Devices		18.1		51.4		18.3		101	%		55.4		108	%
Digital Media & Consumer Products		4.6		13.9		5.6		121	%		17.8		128	%
Financial Services		—		—		—		—			0.1		—
Others		0.6		2.1		0.7		127	%		2.5		120	%
Corporate Items		4.0		12.2		5.3		131	%		15.9		130	%
Total		90.2		269.1		95.5		106	%		290.4		108	%
Percentage of revenues (%)		4.2		4.3		4.2		—			4.3		—

- 25 -

8. Information & Telecommunication Systems

(1) Revenues and Operating Income^*6


	(Billions of yen)

	2009				2010
	Three months ended December 31		Nine months ended December 31		Three months ended December 31					Nine months ended December 31					Total (Forecast)
	(A)		(B)		(C)		(C)/(A)X100			(D)		(D)/(B)X100			(E)		(E)/FY2009X100
Revenues		392.0		1,186.7		388.6		99	%		1,163.4		98	%		1,730.0		101	%
Software & Services		253.7		782.4		255.3		101	%		775.4		99	%		1,160.0		102	%
Software		38.7		109.2		42.0		109	%		115.8		106	%
Services		215.0		673.2		213.3		99	%		659.6		98	%
Hardware		138.3		404.3		133.2		96	%		387.6		96	%		570.0		101	%
Storage^*7		53.1		143.8		50.8		96	%		137.0		95	%
Servers^*8		12.7		40.0		11.4		90	%		36.3		91	%
PCs^*9		5.9		19.4		6.3		107	%		21.2		109	%
Telecommunication		32.0		99.1		31.5		98	%		96.7		98	%
Others		34.6		102.0		33.0		95	%		95.9		94	%
Operating income		13.9		46.2		18.5		133	%		53.0		115	%		100.0		106	%
Software & Services																82.0		106	%
Hardware																18.0		104	%

*6	Figures for each product exclude intra-segment transactions.

The Company has changed the business segment classification started from Fiscal 2009.

Figures for three months and nine months period ended December 31, 2009 has been restated to reflect the reclassification.

*7	Figures for Storage include disk array subsystems, etc.

*8	Figures for Servers include general-purpose computers, UNIX servers, etc.

*9	Figures for PCs include PC servers, client PCs (only commercial use), etc.

(2) Storage Solutions

(Billions of yen)

2009

2010

Three months
ended
December 31

Nine months
ended
December 31

Three months
ended
December 31

Nine months
ended
December 31

Total
(Forecast)

(A)

(B)

(C)

(C)/(A)X100

(D)

(D)/(B)X100

(E)

(E)/FY2009X100

Revenues

82.0

224.0

87.0

106

235.0

105

305.0

100

9. Hard Disk Drives^*10*11

Period recorded for

consolidated accounting purposes

2009

2010

Three months
ended
December 31

Nine months
ended
December 31

Three months
ended
December 31

Nine months
ended
December 31

(A)

(B)

(C)

(C)/(A)X100

(D)

(D)/(B)X100

Shipment Period

Jul. 2009 to
Sep. 2009

Jan. 2009 to
Sep. 2009

Jul. 2010 to
Sep. 2010

Jan. 2010 to
Sep. 2010

Revenues

Billions of yen

121.0

326.6

128.7

106

399.4

122

Millions of U.S. dollars

1,292

3,427

1,498

116

4,461

130

Operating income(loss)

Billions of yen

5.5

(3.1

)

11.9

215

48.7

—

Millions of U.S. dollars

(30

)

138

234

541

—

Shipments (thousand units)^*12

25,000

66,500

28,800

115

83,500

126

Consumer and Commercial

2.5-inch

14,300

36,200

16,800

118

49,100

135

3.5-inch

8,200

24,600

8,400

102

24,400

Servers

1,500

3,800

1,800

121

5,200

135

Emerging

570

1,230

790

139

2,440

197

External HDD

450

670

960

215

2,420

361

*10

The Hard Disk Drive operations are conducted by Hitachi Global Storage Technologies (Hitachi GST), which has a December 31 fiscal year-end, different from Hitachi’s March 31 year-end. Hitachi’s results for the nine months ended December 31, 2010 include the operating results of Hitachi GST for the nine months ended September 30, 2010.

*11	Hitachi GST’s operating currency is U.S. dollar. Yen figures include yen / dollar conversion fluctuation.

*12	Shipment less than 100,000 units have been rounded, with the exception of Emerging and External HDD, where shipment less than 10,000 units have been rounded.

- 26 -


	2009				2010
	Three months ended March 31, 2010		Total		Three months ended March 31, 2011					Total
Period recorded for consolidated accounting purposes	(E)		(F)		(G)(Preliminary)		(G)/(E)X100			(H)(Preliminary)		(H)/(F)X100
Shipment Period	Oct. 2009 to Dec. 2009		Jan. 2009 to Dec. 2009		Oct. 2010 to Dec. 2010					Jan. 2010 to Dec. 2010
Revenues
Billions of yen		125.0		451.7		127.4		102	%		526.8		117	%
Millions of U.S. dollars		1,394		4,821		1,542		111	%		6,003		125	%
Operating income
Billions of yen		12.3		9.2		8.6		70	%		57.2		621	%
Millions of U.S. dollars		137		106		104		76	%		645		606	%
Shipments (thousand units)^*12		24,900		91,400		30,300		121	%		113,800		124	%
Consumer and Commercial
2.5-inch		14,400		50,600		16,300		113	%		65,300		129	%
3.5-inch		7,100		31,700		9,600		135	%		34,000		107	%
Servers		1,700		5,500		2,300		136	%		7,400		135	%
Emerging		840		2,070		1,090		130	%		3,530		170	%
External HDD		880		1,550		1,040		119	%		3,460		224	%

# # #

- 1 -

FOR IMMEDIATE RELEASE

Hitachi Announces Executive Changes

Tokyo, February 3, 2011 — Hitachi, Ltd. (NYSE:HIT/TSE:6501) today announced the following executive changes in accordance with a resolution passed by a meeting of the Board of Directors held today. The appointments take effect on April 1, 2011.

1. Executive Changes [Effective April 1, 2011]

(1) Promotion

Koji Tanaka

New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Power Systems Business, Industrial & Social Systems Business, Transportation Systems Business, Urban Planning and Development Systems Business and Defense Systems Business

Current Position: Vice President and Executive Officer, President & CEO of Power Systems Company, Deputy General Manager of Smart City Business Management Division, General Manager of Renewable Energy & Smart Grid Division, Power Systems Company

Junzo Nakajima

New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Information & Telecommunication Business, Information & Control Systems Business and Information Technology, Hitachi Group Chief Innovation Officer, Hitachi Group Chief Information Security Officer and General Manager of Smart City Business Management Division

Current Position: Senior Vice President and Executive Officer, President & CEO of Information & Telecommunication Systems Company

Shigeru Azuhata

New Position: Senior Vice President and Executive Officer, in charge of Environmental Strategies, Hitachi Group Chief Technology Officer, Hitachi Group Chief Environmental Strategy Officer, General Manager of Research & Development Group, Supervisory Office for Business Coordination and Medical Systems Business Division, Deputy General Manager of Water Environment Solutions Division

Current Position: Vice President and Executive Officer, in charge of Environmental Strategies, General Manager of Research & Development Group and Medical Systems Business Division, Deputy General Manager of Supervisory Office for Business Coordination and Water Environment Solutions Division

- 2 -

Shinjiro Iwata

New Position: Senior Vice President and Executive Officer, President & CEO of Information & Telecommunication Systems Company

Current Position: Vice President and Executive Officer, Chief Executive Officer of Service & Global Business, Information & Telecommunication Systems Company

Makoto Ebata

New Position: Senior Vice President and Executive Officer, in charge of Procurement and Consumer Business

Current Position: Vice President and Executive Officer, in charge of Procurement

Toshiaki Kuzuoka

New Position: Senior Vice President and Executive Officer, in charge of Human Capital, Government & External Relations and Corporate Auditing, General Manager of Legal and Communications Group, Legal Division, Compliance Division and Centennial Project Division

Current Position: Vice President and Executive Officer, in charge of Corporate Auditing, General Manager of Legal and Communications Group, Legal Division, Compliance Division and Centennial Project Division

(2) Reappointment

Toshiaki Higashihara

New Position: Vice President and Executive Officer, in charge of Industrial & Social Systems Business, President and Representative Director of Hitachi Plant Technologies, Ltd.

Current Position: President and Representative Director of Hitachi Plant Technologies, Ltd.

(3) New Executive Officers

Toshio Ikemura

New Position: Vice President and Executive Officer, President & CEO of Urban Planning and Development Systems Company

Current Position: President and Representative Director of Hitachi Building Systems Co., Ltd.

- 3 -

Tatsuro Ishizuka

New Position: Vice President and Executive Officer, President & CEO of Power Systems Company and Deputy General Manager of Smart City Business Management Division

Current Position: General Manager of Hitachi Works, Power Systems Company

Yoshifumi Kanda

New Position: Vice President and Executive Officer, General Manager of Power Systems Sales Management Division, Power Systems Company

Current Position: General Manager of Chugoku Area Operation

Kazuhiro Kurihara

New Position: Vice President and Executive Officer, General Manager of Chubu Area Operation

Current Position: General Manager of Chubu Area Operation

Yasuo Tanabe

New Position: Vice President and Executive Officer, in charge of Government & External Relations

Current Position: Assistant to the Executive Vice President

Toshikazu Nishino

New Position: Vice President and Executive Officer, in charge of Management Strategy

Current Position: Senior Manager of Strategy & Project Office, Supervisory Office for Management Reforms

Masaharu Hanyu

New Position: Vice President and Executive Officer, Chief Executive Officer of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company

Current Position: President and Representative Director of Hitachi-GE Nuclear Energy, Ltd.

Naoki Mitarai

New Position: Vice President and Executive Officer, General Manager of Human Capital Group

Current Position: General Manager of Corporate Administration Division, Human Capital Group

- 4 -

(4) Changes of Position

Hiroaki Nakanishi

New Position: Representative Executive Officer and President

Current Position: Representative Executive Officer and President, in charge of Power Systems Business, Industrial & Social Infrastructure Systems Business and Automotive Systems Business, General Manager of Supervisory Office for Overseas Plant Construction Business

Takashi Miyoshi

New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Management Strategy, Finance and Corporate Pension System, Deputy General Manager of Supervisory Office for Management Reforms and General Manager of Strategy & Project Office

Current Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Management Reform, Finance, Corporate Pension System, Business Development and Consumer Business, Deputy General Manager of Supervisory Office for Management Reforms and General Manager of Strategy & Project Office

Nobuo Mochida

New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of High Functional Materials & Components, Production Engineering and Automotive Systems Business, General Manager of Corporate Quality Assurance Division and Supervisory Office for MONOZUKURI, Deputy General Manager of Supervisory Office for Business Infrastructure, Chairman of the Board of Hitachi Metals, Ltd.

Current Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Corporate Planning, High Functional Materials & Components and Production Engineering, General Manager of Corporate Quality Assurance Division and Supervisory Office for MONOZUKURI, Deputy General Manager of Supervisory Office for Business Infrastructure, Chairman of the Board of Hitachi Metals, Ltd.

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Kazuhiro Mori

New Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Battery Systems Business, Sales Operations, Hitachi Group Global Business, Medical Systems Business and Business Incubation, General Manager of Supervisory Office for Sales and Promotion and Corporate Export Regulation Division

Current Position: Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Motor Power Systems, Battery Systems Business, Sales Operations, Hitachi Group Global Business, Procurement, Medical Systems Business and Business Incubation, General Manager of Supervisory Office for Sales and Promotion and Corporate Export Regulation Division

Yoshito Tsunoda

New Position: Senior Vice President and Executive Officer, President & CEO of Battery Systems Company and General Manager of Motor Power Systems Division

Current Position: Senior Vice President and Executive Officer, President & CEO of Battery Systems Company, General Manager of Motor Power Systems Division, President and Representative Director of Hitachi Maxell, Ltd.

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2. Resignation [Effective March 31, 2011]

Takashi Kawamura currently Director, Representative Executive Officer and Chairman, General Manager of Supervisory Office for Management Reforms

—Scheduled to be appointed Chairman of the Board of Hitachi, Ltd., effective on April 1, 2011

Naoya Takahashi, currently Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Information & Telecommunication Business, Information & Control Systems Business, Research & Development and Information Technology, General Manager of Supervisory Office for Business Coordination, Hitachi Group Chief Technology Officer, Hitachi Group Chief Innovation Officer, Hitachi Group Chief Information Security Officer and General Manager of Smart City Business Management Division

—Scheduled to be appointed Representative Director, President and Chief Executive Officer of Hitachi Electronics Services Co., Ltd., effective on April 1, 2011

Takashi Hatchoji, currently Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Urban Planning and Development Systems Business, Defense Systems Business, Corporate Planning, Environmental Strategies, Human Capital, Legal and Corporate Communications, Corporate Brand and Corporate Auditing, General Manager of Supervisory Office for Business Infrastructure, Hitachi Group Chief Environmental Strategy Officer, General Manager of Supervisory Office for Product Environmental Information

—Scheduled to be appointed Group Chairman for the Americas, effective on April 1, 2011

—Will be appointed as a Director if he is proposed as a Director candidate and approved at Hitachi’s Ordinary General Meeting of Shareholders in late June

Tadahiko Ishigaki, currently Senior Vice President and Executive Officer, Chief Executive for the Americas

—Scheduled to be appointed Associate of Hitachi, Ltd., effective on April 1, 2011

Stephen Gomersall, currently Senior Vice President and Executive Officer, Chief Executive for Europe

—Scheduled to be appointed Group Chairman for Europe, effective on April 1, 2011

—Will be appointed as a Director if he is proposed as a Director candidate and approved at Hitachi’s Ordinary General Meeting of Shareholders in late June

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Kenji Ohno, currently Vice President and Executive Officer, General Manager of Human Capital Group

—Scheduled to be appointed Senior Vice President and Executive Officer of Hitachi Transport System, Ltd., effective on April 1, 2011

Takao Koyama, currently Vice President and Executive Officer, General Manager of Kansai Area Operation and Deputy General Manager of Corporate Marketing Group

—Scheduled to be appointed Representative Director, Executive Vice President and Executive Officer of Hitachi Solutions, Ltd., effective on April 1, 2011

Gaku Suzuki, currently Vice President and Executive Officer, President & CEO of Industrial & Social Infrastructure Systems Company and General Manager of Intercity Express Programme Division

—Scheduled to be appointed Senior Technical Executive (tentative name) for Transportation Systems Business of Hitachi, Ltd., effective on April 1, 2011

Hideaki Takahashi, currently Vice President and Executive Officer, President & CEO of Urban Planning and Development Systems Company

—Scheduled to be appointed Representative Executive Officer, President and Chief Executive Officer of Hitachi Cable, Ltd., effective on April 1, 2011

Akira Maru, currently Vice President and Executive Officer, Chief Executive Officer of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company

—Scheduled to be appointed Senior Technical Executive (tentative name) for Power Systems Business of Hitachi, Ltd., effective on April 1, 2011

About Hitachi, Ltd.

Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company’s website at http://www.hitachi.com.

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<Reference>

1. Executive Officers [Effective April 1, 2011]

[(a) Promotion / (b) Reappointment / (c) New]


	Hiroaki Nakanishi	Representative Executive Officer and President

(a)	Koji Tanaka	Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Power Systems Business, Industrial & Social Systems Business, Transportation Systems Business, Urban Planning and Development Systems Business and Defense Systems Business

(a)	Junzo Nakajima	Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Information & Telecommunication Business, Information & Control Systems Business and Information Technology, Hitachi Group Chief Innovation Officer, Hitachi Group Chief Information Security Officer and General Manager of Smart City Business Management Division

	Takashi Miyoshi	Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Management Strategy, Finance and Corporate Pension System, Deputy General Manager of Supervisory Office for Management Reforms and General Manager of Strategy & Project Office

	Nobuo Mochida	Representative Executive Officer, Executive Vice President and Executive Officer, in charge of High Functional Materials & Components, Production Engineering and Automotive Systems Business, General Manager of Corporate Quality Assurance Division and Supervisory Office for MONOZUKURI, Deputy General Manager of Supervisory Office for Business Infrastructure, Chairman of the Board of Hitachi Metals, Ltd.

	Kazuhiro Mori	Representative Executive Officer, Executive Vice President and Executive Officer, in charge of Battery Systems Business, Sales Operations, Hitachi Group Global Business, Medical Systems Business and Business Incubation, General Manager of Supervisory Office for Sales and Promotion and Corporate Export Regulation Division

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(a)	Shigeru Azuhata	Senior Vice President and Executive Officer, in charge of Environmental Strategies, Hitachi Group Chief Technology Officer, Hitachi Group Chief Environmental Strategy Officer, General Manager of Research & Development Group, Supervisory Office for Business Coordination and Medical Systems Business Division, Deputy General Manager of Water Environment Solutions Division

(a)	Shinjiro Iwata	Senior Vice President and Executive Officer, President & CEO of Information & Telecommunication Systems Company

(a)	Makoto Ebata	Senior Vice President and Executive Officer, in charge of Procurement and Consumer Business

(a)	Toshiaki Kuzuoka	Senior Vice President and Executive Officer, in charge of Human Capital, Government & External Relations and Corporate Auditing, General Manager of Legal and Communications Group, Legal Division, Compliance Division and Centennial Project Division

	Yoshito Tsunoda	Senior Vice President and Executive Officer, President & CEO of Battery Systems Company and General Manager of Motor Power Systems Division

	Toyoaki Nakamura	Representative Executive Officer, Senior Vice President and Executive Officer, in charge of Corporate Pension System, General Manager of Finance and Accounting Group

(c)	Toshio Ikemura	Vice President and Executive Officer, President & CEO of Urban Planning and Development Systems Company

	Hitoshi Isa	Vice President and Executive Officer, Chief Executive Officer of Thermal Power Systems, Power Systems Company

(c)	Tatsuro Ishizuka	Vice President and Executive Officer, President & CEO of Power Systems Company and Deputy General Manager of Smart City Business Management Division

	Osamu Ohno	Vice President and Executive Officer, General Manager of Corporate Information Technology Group and Chief Innovation Officer of Power Systems Company

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	Nobuyuki Ohno	Vice President and Executive Officer, Chief Executive and Chief Innovation Officer for China

(c)	Yoshifumi Kanda	Vice President and Executive Officer, General Manager of Power Systems Sales Management Division, Power Systems Company

	Masahiro Kitano	Vice President and Executive Officer, in charge of Quality Assurance and Production Engineering, General Manager of Environmental Strategy Office, Deputy General Manager of Supervisory Office for Product Environmental Information, General Manager of MONOZUKURI Group and MONOZUKURI Engineering Division

	Ryuichi Kitayama	Vice President and Executive Officer, Deputy General Manager of Corporate Marketing Group, General Manager of Domestic Marketing Division and Customer Satisfaction Promotion Center

(c)	Kazuhiro Kurihara	Vice President and Executive Officer, General Manager of Chubu Area Operation

	Yutaka Saito	Vice President and Executive Officer, President & CEO of Information & Control Systems Company and Deputy General Manager of Smart City Business Management Division

	Kaichiro Sakuma	Vice President and Executive Officer, Chief Executive Officer of Platform Systems Business, Information & Telecommunication Systems Company

(c)	Yasuo Tanabe	Vice President and Executive Officer, in charge of Government & External Relations

	Masahide Tanigaki	Vice President and Executive Officer, in charge of Corporate Export Regulation, General Manager of Corporate Marketing Group and International Marketing Division, Deputy General Manager of Supervisory Office for Sales and Promotion

(c)	Toshikazu Nishino	Vice President and Executive Officer, in charge of Management Strategy

(c)	Masaharu Hanyu	Vice President and Executive Officer, Chief Executive Officer of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company

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(b)	Toshiaki Higashihara	Vice President and Executive Officer, in charge of Industrial & Social Systems Business, President and Representative Director of Hitachi Plant Technologies, Ltd.

(c)	Naoki Mitarai	Vice President and Executive Officer, General Manager of Human Capital Group

	Yoshihiko Mogami	Vice President and Executive Officer, Chief Executive Officer of System Solutions Business, Information & Telecommunication Systems Company

2. Biography of Reappointment and New Executive Officers

Toshio Ikemura


1. Date of Birth		December 2, 1953

2. Education

March, 1978		Graduated from the Department of Power and Mechanical Engineering, the Graduate School of Engineering, Kyushu University

3. Business Experience

April, 2007		President and Representative Director of Hitachi Building Systems Co., Ltd.

April, 2005		General Manager of Mito Building Systems Division, Urban Planning & Development Systems Group

February, 2005		General Manager of Quality Assurance Division, Urban Planning & Development Systems Group

April, 2003		Senior Manager of Elevator Design Department, Mito Building Systems Division, Urban Planning & Development Systems Group

August, 2000		Senior Manager of Elevator Quality Assurance Department, Mito Building Systems Division, Building Systems Group

April, 1978		Joined Hitachi, Ltd.

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Tatsuro Ishizuka


1. Date of Birth		December 23, 1955

2. Education

March, 1978		Graduated from the Faculty of Engineering, Tohoku University

3. Business Experience

October, 2009		General Manager of Hitachi Works, Power Systems Company

April, 2009		General Manager of Hitachi Works, Power Systems Group, Hitachi, Ltd.

October, 2007		Senior Vice President of Hitachi America, Ltd.

July, 2007		Administrative Officer and Deputy General Manager of Hitachi Works, Hitachi-GE Nuclear Energy, Ltd., Deputy General Manager of Nuclear Systems Division, Power Systems Group, Hitachi, Ltd.

April, 2005		Deputy General Manager of Hitachi Works and Nuclear Systems Division, Power Systems Group

April, 2004		Deputy General Manager of Power & Industrial Systems Business Administration Division and General Manager of Strategic Planning Division, Power & Industrial Systems Business Administration Division

September, 2003		Deputy General Manager of Hitachi Works, Power and Industrial Systems Group

October, 2002		General Manager of Quality Control Division, Power and Industrial Systems Division, Power and Industrial Systems Group

February, 2001		Senior Manager of Power Electric Machine Design Department, Generator Systems Division, Power and Industrial Systems Division, Power and Industrial Systems Group

April, 1978		Joined Hitachi, Ltd.

Yoshifumi Kanda


1. Date of Birth		March 10, 1952

2. Education

March, 1974		Graduated from the Faculty of Engineering, Kobe University

3. Business Experience

December, 2008		General Manager of Chugoku Area Operation

April, 2006		General Manager of Industrial Manufacturing & Services Systems Sales Management Division, Information & Telecommunication Systems Group

April, 2004		General Manager of Government & Public Corporation Information Systems Sales Management Division, Information & Telecommunication Systems Group

April, 2002		Deputy General Manager of Kansai Area Operation

February, 2001		Senior Manager of Government & Public Corporation Information System Sales Department, Kansai Area Operation

August, 1996		Senior Manager of Electric Power Department, Kansai Area Operation

April, 1974		Joined Hitachi, Ltd.

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Kazuhiro Kurihara


1. Date of Birth		December 6, 1952

2. Education

March, 1976		Graduated from the Faculty of Economics, the University of Tokyo

3. Business Experience

April, 2010		General Manager of Chubu Area Operation

April, 2009		General Manager of Sales & Marketing Division, Industrial Systems Group

April, 2007		General Manager of Transportation Systems Division, Industrial Systems Group

April, 2006		General Manager of China Business Development Office, Industrial Systems Group

February, 2006		Deputy General Manager of Hitachi (China) Ltd. and General Manager of China Business Development Office, Industrial Systems Group

April, 2005		Deputy General Manager of Hitachi (China) Ltd.

April, 2003		General Manager and CIO of Strategic Market Planning Division

August, 2001		Senior Manager of Planning Department, Corporate Marketing Group

August, 2000		Senior Manager of JR Department, Transportation Systems Sales Division, Industrial Systems Sales Operations Group, Power and Industrial Systems Group

April, 1976		Joined Hitachi, Ltd.

Yasuo Tanabe


1. Date of Birth		October 5, 1954

2. Education

June, 1985		Graduated from the Graduate Program, the Department of Political Science, Stanford University

March, 1978		Graduated from the Faculty of Law, the University of Tokyo

3. Business Experience

June, 2010		Assistant to the Executive Vice President of Hitachi, Ltd.

March, 2010		Retired Deputy Director-General, Economic Affairs Bureau, MOFA

July, 2006		Deputy Director-General, Economic Affairs Bureau, Ministry of Foreign Affairs of Japan (MOFA)

July, 2004		Vice-President of Research Institute of Economy, Trade and Industry, Independent Administrative Agency

October, 2002		Director of International Affairs Division, Agency for Natural Resources and Energy, Ministry of Economy, Trade and Industry

June, 2000		Director of Recycling Promotion Division, Environment & Technology Bureau, MITI

July, 1998		Director of Europe/Russia/Middle East Division, International Trade Policy Bureau, MITI

June, 1996		Director of Petroleum Exploration and Production Division, Agency for Natural Resources and Energy, MITI

April, 1978		Joined Ministry of International Trade and Industry (MITI)

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Toshikazu Nishino


1. Date of Birth		January 9, 1955

2. Education

March, 1980		Graduated from the Physics Course, the Graduate School of Science and Engineering, the Tokyo Institute of Technology

3. Business Experience

April, 2010		Senior Manager of Strategy & Project Office, Supervisory Office for Management Reforms, Hitachi, Ltd.

April, 2009		Board Director of Renesas Technology Corp.

October, 2008		Assistant to the Executive Vice President of Hitachi, Ltd.

August, 2005		Director, Vice President and Chief Technology Officer of Hitachi Displays, Ltd.

April, 2005		General Manager of Corporate Technology Office, Hitachi Group - Corporate Strategy, Hitachi Group Headquarters, Deputy General Manager of Corporate Planning & Development Office

April, 2002		General Manager of Central Research Laboratory

July, 2000		Senior Manager of Corporate Venture Capital Office

February, 1997		Senior Manager of Optoelectronics Department, Central Research Laboratory

April, 1980		Joined Hitachi, Ltd.

Masaharu Hanyu


1. Date of Birth		February 20, 1951

2. Education

March, 1975		Graduated from the Faculty of Science and Engineering, Waseda University

3. Business Experience

July, 2007		President and Representative Director of Hitachi-GE Nuclear Energy, Ltd.

April, 2005		General Manager of Nuclear Systems Division, Power Systems Group

April, 2004		Deputy General Manager of Industrial Systems Division, Industrial Systems Group and General Manager of Industrial Plants Division

April, 2003		General Manager of Industrial Plants Division, Power and Industrial Systems Group

January, 2000		Senior Manager of Nuclear Plant Service Department, Hitachi Engineering and Product Division, Nuclear Systems Division, Power and Industrial Systems Group

April, 1975		Joined Hitachi, Ltd.

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Toshiaki Higashihara


1. Date of Birth		February 16, 1955

2. Education

September, 1990		Graduated from the graduate program in computer science, the Graduate School of Arts & Sciences, Boston University

March, 1977		Graduated from the Faculty of Engineering, the University of Tokushima

3. Business Experience

June, 2010		President and Representative Director of Hitachi Plant Technologies, Ltd.

April, 2010		Representative Executive Officer, President and Chief Executive Officer of Hitachi Plant Technologies, Ltd.

April, 2008		President of Hitachi Power Europe GmbH

April, 2007		Vice President and Executive Officer, Chief Operating Officer of Power Systems Group

April, 2006		Chief Operating Officer of Information & Telecommunication Systems Group

April, 2004		General Manager of Information & Control Systems Division, Information & Telecommunication Systems Group

October, 2001		General Manager of Public Utility and Energy Industry Information Systems Division, Information & Control Systems Division, System Solutions Group

August, 2000		Senior Manager of Public Utility and Energy Industry Information Systems Design Department, Information & Control Systems Division, Power and Industrial Systems Group

April, 1999		Senior Manager of Transportation Systems Design Department, Omika Industrial Systems Division, Power and Industrial Systems Group

April, 1977		Joined Hitachi, Ltd.

Naoki Mitarai


1. Date of Birth		October 30, 1952

2. Education

March, 1976		Graduated from the Faculty of Law, the University of Tokyo

3. Business Experience

April, 2010		General Manager of Corporate Administration Division, Human Capital Group

January, 2006		General Manager of Group Company Office, Hitachi Group Headquarters

April, 2005		General Manager of Group Company Office, Hitachi Group - Corporate Strategy, Hitachi Group Headquarters

April, 2004		Deputy General Manager of Government & Public Corporation Information Systems Sales Management Division, Information & Telecommunication Systems Group

April, 2003		Executive Marketing Manager of Government & Public Corporation Information Systems Sales Management Division, Information & Telecommunication Systems Group

July, 2000		General Manager of Employee Relations Department

April, 1976		Joined Hitachi, Ltd.

# # #

FOR IMMEDIATE RELEASE

Hitachi Announces Changes of Directors

Tokyo, February 3, 2011 — Hitachi, Ltd. (NYSE:HIT/TSE:6501) today announced the following changes of directors in accordance with a resolution passed by a meeting of the Board of Directors held today.

[Effective April 1, 2011]

Takashi Kawamura

New Position: Chairman of the Board

Current Position: Director, Representative Executive Officer and Chairman

Tadamichi Sakiyama

New Position: Director

Current Position: Board Director (Chair)

About Hitachi, Ltd.

# # #