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HITACHI TO HALVE CHIP OUTLAYS, EXPAND STORAGE BUSINESS: CHIEF.
TOKYO, Sep 3 Asia Pulse - Hitachi Ltd. (TSE:6501) will rebuild itself through job cuts and lower capital spending, and by expanding its data storage business, company president Etsuhiko Shoyama told reporters.
"We will aim to strengthen the firm using both defensive and offensive measures," Shoyama said, referring to the company's announcement of plans to slash the group work force by 14,700 and scale back capital spending on semiconductor-manufacturing equipment to 60 billion yen (US$500 million) this fiscal year, less than half than originally planned.
At the same time, it plans to invest 100 billion yen this year in external data storage devices for the fast-growing information processing services market, as well as make more than 100 billion yen in acquisitions in the field over the next year.
"We will revamp the business structure itself, instead of taking emergency stopgap measures," the president said, adding that ...
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Source: HighBeam Research, HITACHI TO HALVE CHIP OUTLAYS, EXPAND STORAGE BUSINESS: CHIEF.