Connection

popular articles

Polynesia: a new parliamentary inquiry on nuclear tests relaunched in the Assembly
China Optimizes Petrochemical Production with 50 Million Tons Capacity
Iraq: TotalEnergies transforms flared gas into sustainable electricity
India and NHPC invest 660 million USD for 1,000 MW in Bihar
COP29: Call for Accelerated Climate Finance Commitments

Hitachi: net profit to grow in 2022/23, share buyback announced

Japan's Hitachi reported its financial results for fiscal year 2022/23, posting a slight increase in net income thanks to currency effects and gains on asset disposals. However, the group expects its results for the current fiscal year to decline as a result of these disposals.

Please share:

Japanese conglomerate Hitachi on Thursday reported slightly higher results for its fiscal year 2022/23 ended in late March, benefiting in particular from positive currency effects and one-time gains on asset disposals, and announced a share buyback.

Net profit of 4.4 billion euros

For the past fiscal year, Hitachi posted a net profit of 649.1 billion yen (4.4 billion euros), up 11% year-on-year, and an adjusted operating profit of 748.1 billion yen (+1.3%). Its results, with revenues up 6% year-on-year, were notably boosted by the fall in the yen and boosted by its 2021 acquisition of US software developer GlobalLogic.

Hitachi said in a statement that it was affected in the fourth quarter by the shortage of semiconductors, mainly in its Hitachi Astemo segment (automotive equipment), as well as by the soaring costs of certain materials.

The group expects lower results for 2023/24

The group is increasingly repositioning itself in digital systems and services for industry, a fast-growing market, and is also very present in energy, rail and automotive equipment. At the end of the fiscal year, Hitachi finalized the sale of its shares in Hitachi Transport System (logistics), following the sale of Hitachi Metals (steel), and half of its shares in Hitachi Construction Machinery (construction equipment).

For the fiscal year 2023/24, which started on April 1, it expects lower results due to these asset disposals, with sales of 8,800 billion yen (-19% year-on-year). Hitachi expects a net profit of 500 billion yen (3.4 billion euros, -23% year-on-year) and an adjusted operating profit of 675 billion yen, down 10% year-on-year. The group specifies that these forecasts are based on the assumption that its acquisition of the rail signalling activities of French company Thales will be completed by the end of 2023. The conglomerate also announced on Thursday a repurchase of its own shares from Friday until the end of March 2024, for a maximum amount of 100 billion yen (676 million euros). It plans to pay annual dividends of 145 yen per share.

Register free of charge for uninterrupted access.

Publicite

Latest news

Record-breaking 1.7 GW of US Community Solar Installed in 2024
Launch of the 100 MW Bramley Energy Storage Project in the UK
Hyvia, Renault’s hydrogen joint venture, placed in liquidation
Growth of the Lithium-Ion Battery Recycling Market: A Report from Deloitte and CAS Analyzes Key Trends
Orano envisages a long and uncertain restart for its uranium mine in Niger

Recently published in

Schneider Electric Posts Record Profits in 2024 Driven by Energy Transition and Data Centres

Schneider Electric announced exceptional financial results for 2024, driven by strong demand in energy management and data centre sectors, despite a decline in its industrial automation business.
Nexans Reaps the Dividends of Its Electrification Strategy
Nexans, a major player in cable production, benefits from strong demand linked to infrastructure electrification, contributing to the growth of its financial results.
en_1140290944540-12
Nexans Reaps the Dividends of Its Electrification Strategy
Nexans, a major player in cable production, benefits from strong demand linked to infrastructure electrification, contributing to the growth of its financial results.
en_1140290944540-12
Orano Records a Record Annual Profit
Orano reports a threefold increase in annual profit, driven by strong Japanese demand and rising uranium prices. The company benefits from a robust recovery in its uranium supply contracts.
en_1140290945540-12
Orano Records a Record Annual Profit
Orano reports a threefold increase in annual profit, driven by strong Japanese demand and rising uranium prices. The company benefits from a robust recovery in its uranium supply contracts.
en_1140290945540-12
Sitka Power Inc. Acquires a Renewable Energy and Energy Storage Portfolio from Saturn Power Inc.
Sitka Power Inc. announces the acquisition of multiple renewable energy and energy storage projects from Saturn Power Inc., further strengthening its position in the renewable energy sector in Alberta, amid growing demand for these technologies.
en_1140290960540-11
Sitka Power Inc. Acquires a Renewable Energy and Energy Storage Portfolio from Saturn Power Inc.
Sitka Power Inc. announces the acquisition of multiple renewable energy and energy storage projects from Saturn Power Inc., further strengthening its position in the renewable energy sector in Alberta, amid growing demand for these technologies.
en_1140290960540-11

Japan Adjusts Its Energy Strategy by Betting on Nuclear and Renewables

Tokyo has announced a 60% reduction in greenhouse gas emissions by 2035 compared to 2013. This ambition involves an energy transition marked by the development of renewable energies and increased reliance on nuclear power to ensure the country’s energy security.
Veolia partners with Adnoc to optimize water management in the Emirates
Veolia has signed an agreement with Emirati oil company Adnoc to streamline water consumption at its industrial sites. This strategic partnership aims to improve resource management and aligns with the French group’s expansion strategy in the Middle East.
en_1140290948540-11
Veolia partners with Adnoc to optimize water management in the Emirates
Veolia has signed an agreement with Emirati oil company Adnoc to streamline water consumption at its industrial sites. This strategic partnership aims to improve resource management and aligns with the French group’s expansion strategy in the Middle East.
en_1140290948540-11
Air Liquide secures 2,500 GWh of low-carbon electricity with record PPAs in 2024
Air Liquide has signed a record volume of power purchase agreements (PPAs) in 2024, adding more than 2,500 GWh of low-carbon electricity to its supply. These long-term agreements cover several key markets and support the company’s energy modernization efforts.
en_1140290995540
Air Liquide secures 2,500 GWh of low-carbon electricity with record PPAs in 2024
Air Liquide has signed a record volume of power purchase agreements (PPAs) in 2024, adding more than 2,500 GWh of low-carbon electricity to its supply. These long-term agreements cover several key markets and support the company’s energy modernization efforts.
en_1140290995540
Enbridge publishes historic results and confirms its 2025 financial objectives
Enbridge, a major player in natural gas transportation and distribution, announces an increase in its adjusted EBITDA. Driven by targeted acquisitions and steady expansion, these financial indicators illustrate the group’s solidity for the coming year.
en_1140290985540
Enbridge publishes historic results and confirms its 2025 financial objectives
Enbridge, a major player in natural gas transportation and distribution, announces an increase in its adjusted EBITDA. Driven by targeted acquisitions and steady expansion, these financial indicators illustrate the group’s solidity for the coming year.
en_1140290985540

Kalina Power and Crusoe Announce Partnership to Develop Data Centers in Alberta

Kalina Power and Crusoe Energy Systems have signed a strategic agreement to develop data centers in Alberta, utilizing excess energy resources and promoting a more sustainable approach for the technology sector.
New Zealand Energy Corp. accelerates the gas storage project at Tariki
New Zealand Energy Corp. (NZEC) confirms significant progress on the Tariki field, aiming to transform the site into a gas storage facility. The project, in response to market tensions in New Zealand, plans to begin injection in Q4 2025.
en_1140290945540-9
New Zealand Energy Corp. accelerates the gas storage project at Tariki
New Zealand Energy Corp. (NZEC) confirms significant progress on the Tariki field, aiming to transform the site into a gas storage facility. The project, in response to market tensions in New Zealand, plans to begin injection in Q4 2025.
en_1140290945540-9
EDF leverages its industrial sites to host data centers
EDF plans to host data centers on six industrial sites already connected to the power grid. This initiative aims to accelerate the installation of digital infrastructure while optimizing its land assets. A call for expressions of interest will be launched by the end of February.
en_1140290951540-8
EDF leverages its industrial sites to host data centers
EDF plans to host data centers on six industrial sites already connected to the power grid. This initiative aims to accelerate the installation of digital infrastructure while optimizing its land assets. A call for expressions of interest will be launched by the end of February.
en_1140290951540-8
BP revises its strategy after a 97% drop in net profit
BP announces a strategic shift following a collapse in its 2024 profits. Under pressure from activist investors, the British group must balance profitability with the transformation of its asset portfolio in a changing market environment.
en_1140290957540-8
BP revises its strategy after a 97% drop in net profit
BP announces a strategic shift following a collapse in its 2024 profits. Under pressure from activist investors, the British group must balance profitability with the transformation of its asset portfolio in a changing market environment.
en_1140290957540-8

IEA Launches Observatory to Monitor AI’s Energy Impact

The International Energy Agency (IEA) is preparing to launch a global observatory in April to measure the energy footprint of data centers. This initiative aims to centralize reliable data as electricity consumption linked to artificial intelligence (AI) continues to grow rapidly.
Potentia Energy acquires a 1 GW portfolio of renewable assets in Australia
Potentia Energy, owned by Enel Green Power and INPEX, announces the acquisition of a portfolio exceeding 1 gigawatt (GW) of renewable energy assets in Australia. The deal includes operational wind and solar facilities as well as projects in advanced stages of development.
en_1140290957540-7
Potentia Energy acquires a 1 GW portfolio of renewable assets in Australia
Potentia Energy, owned by Enel Green Power and INPEX, announces the acquisition of a portfolio exceeding 1 gigawatt (GW) of renewable energy assets in Australia. The deal includes operational wind and solar facilities as well as projects in advanced stages of development.
en_1140290957540-7
International Petroleum Corporation continues its share buyback program
International Petroleum Corporation (IPC) repurchased 407,001 of its own shares between February 3 and February 7, 2025, as part of its ongoing buyback program. These transactions are part of the company’s capital management strategy and involve the Stockholm and Toronto markets.
en_1140290960540-7
International Petroleum Corporation continues its share buyback program
International Petroleum Corporation (IPC) repurchased 407,001 of its own shares between February 3 and February 7, 2025, as part of its ongoing buyback program. These transactions are part of the company’s capital management strategy and involve the Stockholm and Toronto markets.
en_1140290960540-7
BP surges after Elliott Management takes a stake
BP’s stock rises by more than 6% on the London Stock Exchange following reports of Elliott Management acquiring a significant stake. The activist fund is known for demanding strategic changes in the companies it invests in.
en_1140290948540-7
BP surges after Elliott Management takes a stake
BP’s stock rises by more than 6% on the London Stock Exchange following reports of Elliott Management acquiring a significant stake. The activist fund is known for demanding strategic changes in the companies it invests in.
en_1140290948540-7

TotalEnergies prepares its listing in New York to attract American investors

TotalEnergies plans to list its shares on the New York Stock Exchange by the end of 2025. The objective is to attract more American investors by converting its ADRs into ordinary shares while maintaining its presence in Paris.
Taxation of Large Companies: Vinci Warns of Industrial Impact in France
Vinci CEO Xavier Huillard warns about the consequences of increased taxation on large companies in France. He highlights the risk to industrial investment and calls for greater regulatory stability to maintain the country’s attractiveness.
en_1140290956540-6
Taxation of Large Companies: Vinci Warns of Industrial Impact in France
Vinci CEO Xavier Huillard warns about the consequences of increased taxation on large companies in France. He highlights the risk to industrial investment and calls for greater regulatory stability to maintain the country’s attractiveness.
en_1140290956540-6
AI Data Centers Under Pressure Amid Rising Energy Consumption
The rapid growth of artificial intelligence (AI) is driving an exponential increase in the energy and water consumption of its infrastructure. A British report highlights the need for tech companies to better regulate the impact of their data centers.
en_1140290961540-5
AI Data Centers Under Pressure Amid Rising Energy Consumption
The rapid growth of artificial intelligence (AI) is driving an exponential increase in the energy and water consumption of its infrastructure. A British report highlights the need for tech companies to better regulate the impact of their data centers.
en_1140290961540-5
U.S. Companies Maintain Their Energy Transition Despite Trump
Despite Donald Trump's return and his measures favoring fossil fuels, major companies, including in the United States, are continuing their energy transition plans. American banks still finance renewable energy despite withdrawing from climate initiatives.
en_1140290963540
U.S. Companies Maintain Their Energy Transition Despite Trump
Despite Donald Trump's return and his measures favoring fossil fuels, major companies, including in the United States, are continuing their energy transition plans. American banks still finance renewable energy despite withdrawing from climate initiatives.
en_1140290963540

Equinor adjusts its strategy: renewable energy declines, hydrocarbons increase

Norwegian energy giant Equinor has revised its renewable energy ambitions downward while increasing its focus on hydrocarbons. A strategic decision that aligns with industry trends and meets market expectations.
TotalEnergies reduces low-carbon investments despite solid profits
After a 26% drop in net profit in 2024, TotalEnergies adjusts its strategy by reducing its investments in low-carbon energy by $500 million. Despite this decline, the group continues its share buyback program and dividend increases.
en_1140290956540-4
TotalEnergies reduces low-carbon investments despite solid profits
After a 26% drop in net profit in 2024, TotalEnergies adjusts its strategy by reducing its investments in low-carbon energy by $500 million. Despite this decline, the group continues its share buyback program and dividend increases.
en_1140290956540-4
Surtax on Large Corporations: Patrick Pouyanné Supports Bernard Arnault’s Position
TotalEnergies CEO Patrick Pouyanné aligned himself with Bernard Arnault's stance on the surtax on large corporations' profits. This measure, aimed at reducing the public deficit, is generating mixed reactions within the business sector.
en_1140290950540-4
Surtax on Large Corporations: Patrick Pouyanné Supports Bernard Arnault’s Position
TotalEnergies CEO Patrick Pouyanné aligned himself with Bernard Arnault's stance on the surtax on large corporations' profits. This measure, aimed at reducing the public deficit, is generating mixed reactions within the business sector.
en_1140290950540-4
Alfa Laval strengthens its portfolio with the acquisition of NRG Marine
Alfa Laval has signed an agreement to acquire NRG Marine, a UK-based company specializing in ultrasonic anti-fouling technology. This acquisition aims to enhance the group’s offering in the maritime, oil, and industrial sectors in response to the growing demand for these innovative solutions.
en_1140290945540-4
Alfa Laval strengthens its portfolio with the acquisition of NRG Marine
Alfa Laval has signed an agreement to acquire NRG Marine, a UK-based company specializing in ultrasonic anti-fouling technology. This acquisition aims to enhance the group’s offering in the maritime, oil, and industrial sectors in response to the growing demand for these innovative solutions.
en_1140290945540-4

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS