SUBSCRIBE
PROFILE

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.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

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.

  • Popular on energynews.pro
EDF power solutions launches hydrogen pilot plant in Macaé to strengthen assets in Brazil
Germany grants $24.3 million to Nigeria to accelerate its energy transition
Tata Power to produce 10 GW of wafers to dominate India’s solar upstream
TotalEnergies, QatarEnergy and Petronas receive exploration licence offshore Guyana
CSV commissions Albright plant, expanding sour gas processing deployment in Canada
IMCC and Maridive launch One Marine to capture offshore services demand
Kuwait's IMCC and Egypt's Maridive have formalised a joint venture based in Abu Dhabi to expand integrated offshore marine operations regionally and internationally.
Chevron strengthens post-Hess strategy and reassures markets on growth
In New York, Chevron outlines its long-term vision following the Hess integration, focusing on financial stability, spending reduction, and record production to consolidate investor confidence.
Electricity shortage threatens AI ambitions of American tech giants
Facing surging computing needs, US tech leaders are hitting an energy wall that slows down data centre construction and revives demand for gas and coal.
NextNRG posts 196% revenue growth in October
NextNRG's monthly revenue reached $7.39mn in October, more than doubling year-over-year, driven by the expansion of its technology platforms and energy services across the United States.
Enbridge commits $3bn to new projects while maintaining 2025 guidance
The Canadian group posted record Q3 EBITDA, sanctioned $3bn worth of projects, and confirmed its full-year financial outlook despite a drop in net income.
OMS Energy turns to AI and robotics to capture global pipeline inspection market
OMS Energy is accelerating investments in artificial intelligence and robotics to position itself in the growing pipeline inspection and maintenance sector, a strategic segment with higher margins than traditional equipment manufacturing.
Duke Energy expected to post Q3 growth driven by demand and revised rates
Duke Energy is set to release its third-quarter results on November 7, with earnings forecasts pointing upward, supported by strong electricity demand, new rate structures and infrastructure investments.
Engie maintains its 2025 targets despite pressure on energy prices
Engie maintains its 2025 earnings guidance despite falling energy prices and weaker hydro output, relying on its performance plan and a stronger expected fourth quarter.
Creekstone Energy raises funds for 10 GW AI energy campus in Utah
The funding round led by Trident Ridge and Pelion Ventures will allow Creekstone Energy to launch construction of its hybrid-generation site designed for AI-optimised data centres.
Air Products posts $394mn net loss in 2025 and streamlines energy project portfolio
The US group reported a $877mn operating loss for fiscal year 2025, impacted by $3.7bn in charges related to project exits and restructuring.
SLB launches Tela, an agentic artificial intelligence for upstream oil operations
SLB has unveiled Tela, an agentic artificial intelligence technology designed to automate upstream processes and enhance operational efficiency at scale.
Gibson Energy sets throughput record across terminals in Q3 2025
Gibson Energy reported record volumes in Canada and the United States, supported by the commissioning of key infrastructure and a cost reduction strategy.
TGS signs three-year strategic agreement with Chevron for offshore seismic acquisition
Norwegian provider TGS will mobilise its marine seismic resources for at least 18 months for Chevron under a three-year capacity agreement covering exploration and development projects.
Eversource posts $367.5mn profit in Q3 driven by electric distribution
Eversource Energy rebounded in the third quarter with a net profit of $367.5mn, driven by revenue increases in electric distribution and a sharp reduction in offshore wind-related losses.
Ameresco strengthens long-term visibility with $5.1bn order backlog
Ameresco posted a 5% increase in quarterly revenue, supported by stronger project execution and sustained demand for energy infrastructure solutions.
Primoris raises full-year forecast after 32% surge in revenue
US-based Primoris posted record quarterly revenue of $2.18bn, driven by strong momentum in its Energy and Utilities segments, and raised its earnings guidance for the full year 2025.
Constellation plans 5,800 MW of new capacity to secure Maryland’s power supply
Energy group Constellation proposes a massive investment in electricity generation and storage, with a planned capacity of 5,800 megawatts to meet rising energy demand in Maryland.
Aegir Insights expands Aegir Quant™ to hybrid, solar and storage assets
Danish firm Aegir Insights extends its Aegir Quant™ platform to onshore wind, solar, storage and hybrid assets, strengthening its investment intelligence offering for developers and investors.
TotalEnergies unveils three global energy trajectories through 2050
TotalEnergies has released its Energy Outlook 2025 report, outlining three scenarios for the global energy system’s evolution and the economic implications of consumption and production trends through 2050.
Shell transfers $8.4bn in debt to its U.S. subsidiary
Shell launches a bond exchange offer on six USD-denominated series to restructure $8.4bn in debt through its newly formed entity Shell Finance US.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.