Profit down, revenues up at Japan’s Hitachi

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Profit has fallen at Japan’s Hitachi Ltd despite an increase in revenues in the first three months of the year compared to the same period of last year. In addition, for the fiscal 2022, the company has reaffirmed its net income outlook, while raising sales guidance. For the three-month period to June, the Chiyoda City-headquartered firm reported a net profit of 37.15 billion yen ($278.6 million) or 38.49 yen per share, compared with 122.23 billion yen or 126.33 yen per share, reported a year ago. Hitachi registered pre-tax income of 76.6 billion yen, less than last year’s 166.8 billion yen. E…

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