In Ukraine, Hitachi Group has engineering hubs of GlobalLogic, a U.S. subsidiary. As part of its strategy to put top priority on the safety of employees and their families, GlobalLogic has been taking actions based on Business Continuity Plan (BCP) including evacuation to a safer location in Ukraine and across borders to other countries.
Regarding business in Russia, Hitachi Group is suspending exports to Russia and pausing all manufacturing activities within the country for the time being, with the exception of products, services, and support for electrical power equipment that is indispensable to the daily lives of people.
The revenues in the Russian market accounts for approx. 0.5% of Hitachi’s consolidated revenues forecast for the fiscal year ending March 2022, 10 trillion yen, and more than a half of this is from revenues of construction machinery. The revenues for which engineering hubs of GlobalLogic in Ukraine are involved in accounts for approx. 0.3% of Hitachi’s consolidated revenues forecast for the fiscal year ending March 2022.
There is not anticipated to be a significant impact on Hitachi’s consolidated earnings forecast for fiscal year ending March 2022 by the current Russia-Ukraine situation at this point.
