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Hitachi to Host Social Innovation Forum on December 16 and 17 in New Delhi
Hitachi, Ltd. and Hitachi India Pvt. Ltd. today announced that Hitachi Group will host the "Hitachi Social Innovation Forum New Delhi" in Delhi as part of efforts to expand business in the country. This Group exhibition will take place over two days on December 16 and 17. The Forum will include an Innovation Summit held jointly with the Confederation of Indian Industry (CII), as well as various business seminars and exhibits of products and solutions.

The goal of the event is to introduce Indian customers and business partners the Hitachi Group’s industrial devices and solutions, rail systems, and other social infrastructures, along with a wide range of other products, solutions, and advanced technologies, such as information and telecommunication systems, construction machinery, automotive devices, and air conditioners.  

“This is a momentous day for us as we are organizing the 'Hitachi Social Innovation Forum' in India. The Forum comprising of Innovation Summit, Business seminars, and Exhibition organized here on December 16 and 17 have underscored our long-term commitment towards India, which is one of the most important regions in Hitachi’s Global strategy. We have demonstrated this in December 2012, when we conducted for the first time in India a Board meeting outside Japan. After that historic Board meeting, Hitachi announced its 'India Business Strategy 2015' targeting consolidated revenues of 300 billion yen in Fiscal 2015 which is approximately three times higher than in Fiscal 2011, and executing investments of 70 billion yen to promote various measures to achieve this target.” said Junzo Nakajima, Executive Vice President and Executive Officer, CEO for Asia Pacific, Hitachi, Ltd. Hitachi's aims to stand by India and together fuel a big change of building a sustainable society.

Hitachi has positioned India as one of the most important regions in its global strategy; for example, in December 2012, a board meeting was held in India, marking the first time for Hitachi to hold a Board meeting outside of Japan since its establishment.

In conjunction with that first overseas board meeting, the company announced its “India Business Strategy 2015,” which focuses on plans for total investments of 70 billion yen in India by FY2015 and an increase in consolidated revenues to 300 billion yen in FY2015, which is about 3 times the level in FY2011.

Since the announcement of the “India Business Strategy 2015,” Hitachi has been steadily promoting local production for local consumption through increased localization; for example, with the expansion of manufacturing and sales of power electronics products and the startup of a new automotive powder metallurgy and friction materials plant, as well as strengthening construction machinery R&D in India.

In terms of promoting global business rollout employing India as a base, Hitachi will start full-scale exports of construction machinery products to Africa and the Middle East and volume exports of power electronics products to Middle East and Asian markets respectively starting from FY2014. Hitachi has also decided to acquire Prizm Payment Services Pvt Ltd., a major provider of settlement services for Indian financial institutions.

With this acquisition, Hitachi will establish a firm customer base among major financial institutions, and will utilize its expertise in settlement systems and other solutions for customers in the financial industry, as part of efforts to bolster the IT service business.  

Additionally, Hitachi will continue to strengthen its management base in India in order to support business expansion. Specific measures include the establishment of three new local bases of operation; promoting R&D activities with close ties to the regional market; building a human resource management system; and executing the Hitachi Smart Transformation Project, which is a cost structure reform project.

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