UPDATE 1-Hitachi aims to revamp nuclear business abroad – Nikkei

June 1 (BestGrowthStock) – Hitachi Ltd (6501.T: ), Japan’s largest
electronics maker, plans to reorganize its core operations
worldwide and wants to recast its nuclear power partnership
with General Electric Co (GE.N: ), the Nikkei business daily
reported, quoting the company’s President Hiroaki Nakanishi.

Hitachi will consider locating its headquarters for some
business segments, including information technology and
infrastructure, overseas, the paper said.

Hitachi has already rebuilt its hard-disk-drive segment,
moving the headquarters to the United States, where it does
most of its business, the newspaper said.

In the nuclear power segment, Hitachi and GE joined forces
in 2007 and set up joint ventures in Japan and the United
States, the daily said.

Hitachi owns 80 percent of the Japanese venture, while GE
has a 60 percent stake in the American company, which caters to
the United States and other overseas markets, the Nikkei said.

President Nakanishi said the foreign operations are not
working out as Hitachi had initially expected, the daily
reported.

The Nikkei said, Hitachi’s president also hinted that the
company is mulling a new format in which it would exercise
control over foreign sales of nuclear equipment.

Stock Market Research

(Reporting by Koustav Samanta in Bangalore; Editing by Maju
Samuel)

UPDATE 1-Hitachi aims to revamp nuclear business abroad – Nikkei