
Tokyo, April 28, 2022 --- Hitachi, Ltd. (TSE:6501, Hitachi ) today announced it has entered into a basic agreement with HTSK Co., Ltd. (the Offeror ), a wholly owned subsidiary of HTSK Holdings Co., Ltd. (the Offeror Parent ), all equity interests in which are currently owned by HTSK Investment L.P. ( KKR Fund ), which is indirectly held and operated by Kohlberg Kravis Roberts & Co. L.P., whereby (1) the Offeror will launch a tender offer ( Tender Offer ) for common shares of Hitachi Transport System, Ltd. ( Hitachi Transport System ), an equity method affiliate of Hitachi (ownership ratio*: 39.91%), around late September 2022 and Hitachi will not tender any of its shares of Hitachi Transport System (33,471,578 shares, Shares to Be Sold by Hitachi ) in the Tender Offer, (2) Hitachi will sell the Shares to Be Sold by Hitachi in accordance with the share repurchase to be conducted by Hitachi Transport System (Transaction Price: approx. 222.0 billion yen, 6,632 yen per share), and (3) Hitachi obtains 10.0 billion yen worth of the Offeror Parent's shares with voting rights (equivalent to 10% of the total voting rights, a series of transactions as the Transaction ).
In addition, upon the Transaction, (i) Hitachi, Hitachi Transport System, and KKR Fund will enter into business capital partnership agreements regarding Hitachi Transport System's operations, and (ii) Hitachi and Hitachi Transport System will enter into ancillary agreement(s) to ensure smooth operation of Hitachi Transport System and a shareholders agreement in connection with operations of Hitachi Distribution Software Co., Ltd.
If all of the Shares to Be Sold by Hitachi are transferred in the fiscal year ending March 2023 (April 1, 2022 to March 31, 2023) in the Transaction, Hitachi plans to post an extraordinary gain of approximately 210.0 billion yen in gains on sale of affiliated companies' common shares in its unconsolidated statements of operations for the fiscal year ending March 31, 2023. In addition, Hitachi plans to record a gain on business reorganization and others in the amount of approximately 140.0 billion yen in its consolidated accounts as other income.
Hitachi will use the proceeds obtained from the Transaction as a source of funds for strengthening its financial base and investing in growth opportunities etc., and will strive to enhance its corporate value through social innovation business which support people's quality of life through fostering a sustainable society with data and technology.
Also, Hitachi aims for further expansion of the Lumada business and will continue to collaborate with Hitachi Transport System in areas such as logistics digital solutions to enhance warehouse operations and transportation and delivery.
* The ownership percentage, here and throughout this release, refers to the percentage (rounded to the second decimal place) of the number of the Shares to Be Sold by Hitachi based on a total amount of 83,873,184 shares, which has been calculated by deducting the number of treasury shares held by Hitachi Transport System as of March 31, 2022 (228,530 shares, excluding the 184,700 shares held by the trust for the performance-based employee stock ownership plan) from the total number of issued shares (84,191,714 shares) as stated in the Financial Statements for the Year Ended March 31, 2022 (IFRS) (consolidated), released by Hitachi Transport System as of April 28, 2022.
Most recent headlines
20/02/2025
WASHINGTON The 2025 NAB Show, April 5-9, at the Las Vegas Convention Center will mark the debut of the Business of Entertainment track developed with The Ankler...
20/02/2025
TYSONS, Va. Tegna Inc. has announced that news veteran Adrienne Roark has been named chief content officer reporting to CEO Mike Steib, effective March 31....
20/02/2025
BIRMINGHAM, Ala. Roku has further expanded its sports content with a new media rights deal with Bassmaster that will make Roku the streaming hub for Bassmaster ...
20/02/2025
WASHINGTON National Association of Broadcasters (NAB) President and CEO Curtis LeGeyt opened The Media Institute's 2025 Communications Forum series with a s...
20/02/2025
The Belonging Co., a Nashville-based church renowned for its dynamic worship experiences and multimedia-rich conferences, tapped DigitalGlue's creative.spac...
20/02/2025
Mediahuis Radio continues its expansion with the completion of a new production facility in Amsterdam. DHD RX2 and DX2 audio mixers connected to XD3 Cores form ...
20/02/2025
At NAB 2025, Calrec is introducing a suite of new interconnected products and updates aiming to help broadcasters meet a variety of challenges. With increased c...
20/02/2025
Keepit, the world's only independent vendor of cloud backup and recovery solutions designed to protect SaaS data, today announced a remarkable year of growt...
20/02/2025
Expanded SMPTE ST 2110 support strengthens lip-sync and latency measurement solutions
Hitomi Broadcast, the market leader in audio/video alignment and latency ...
20/02/2025
LiveU, a leader in live IP-video and remote production solutions, today announced the successful implementation of its comprehensive IP remote production soluti...
20/02/2025
MainConcept, a leading provider of video and audio codecs, has announced a partnership with cloud playout solutions provider, Veset, to integrate its JPEG XS SD...
20/02/2025
OOONA, a leading provider of professional management and production tools for the media localization industry, announces the launch of On Stage, a free-to-acces...
20/02/2025
18 02 2025 - Media release Feisty Feminist Murder Mystery He Had It Coming Announced
Stars of He Had It Coming, Lydia West, Natasha Liu Bordizzo and Liv Hewso...
20/02/2025
18 02 2025 - Media release Screen Australia and Stan Announce New Comedy-Horror Series Gnomes
Gnomes writers Tegan Higginbotham and Paul Verhoeven, and creato...
20/02/2025
Do I Know You From Somewhere? Shot with URSA Mini Pro 12K
Brie Clayton February 19, 2025
0 Comments
Canadian indie film uses Blackmagic camera to crea...
20/02/2025
Berklee Ensemble for Musicians with Disabilities Is Stronger for Our Differences Associate Professor Adrian Anantawan, who founded Berklee's Music Inclusi...
19/02/2025
For more than a decade, Tyler, The Creator has blazed his own trail, exploring unique aesthetics across music, fashion, and art. Now he's bringing his signa...
19/02/2025
Spotify Singles, our longest-running original recorded music franchise, has officially surpassed 10 billion collective streams worldwide. That's a whole lot...
19/02/2025
Via Satellite recognizes Don Claussen's leadership in driving innovation to ...
19/02/2025
At the 2025 NAB Show, April 6-9 in Las Vegas, Calrec will introduce a suite of new interconnected products and updates aiming to help broadcasters attract more ...
19/02/2025
LONDON and LOS ANGELES ThinkAnalytics will feature its newly launched ThinkMediaAI, a unified artificial intelligence (AI)-powered platform that encompass conte...
19/02/2025
NEW YORK FuboTV Inc.has announced plans to launch of multicultural content bundles that will provide U.S. consumers with international programming available in ...
19/02/2025
STAMFORD, Conn. Charter's Spectrum Business has announced new packages, pricing, improved internet speeds for new business customers and free internet speed...
19/02/2025
A new survey among media HR professionals identifies broadcast operations professionals as among the most sought after jobs in the content development sector....
19/02/2025
Behind the Scenes of The Brutalist: An Oscar-Buzzed Workflow with Signiant Media...
19/02/2025
Berklee Ensemble for Disabled Musicians Is Stronger for Our Differences Associate Professor Adrian Anantawan, who founded Berklee's Music Inclusion Ensemb...
19/02/2025
Metaphysics AI neural performance toolset, which was used on the Tom Hanks and Robin Wright film Here, was recently honoured at the Visual Effects Society Award...
19/02/2025
Responding to the ratings realignment, SES provided a market update ahead of its Full Year 2024 Results which will be published on 26th February
By Matthew Co...
19/02/2025
Ikegami Electronics announces a new addition to its range of broadcast quality television production, control and monitoring equipment. The IPX-100 is an IP gat...
19/02/2025
BCNEXXT, a leading provider of virtualized, cloud-native systems for Linear, VoD, and OTT publishing, today announced
its successful collaboration with Amazon...
19/02/2025
Experience Commerce, a leading full-service digital marketing agency within the Cheil Network, has won the social media mandate for Invecto Technologies Pvt. Lt...
19/02/2025
ThinkAnalytics, the global leader in video content discovery and personalization, today launched ThinkMediaAI, the video industry's first unified AI powered...
19/02/2025
Luxembourg, 18 February 2025 -- SES S.A. has taken note of Moody's Ratings Press Release today with regards to SES and is providing a market update ahead of...
19/02/2025
MAHWAH, N.J. Ikegami Electronics has announced a new addition to its range of broadcast quality television production, control and monitoring equipment for the ...
19/02/2025
NEW YORK Veteran local media executive Joel Davis has been named president and general manager of NBCU Local Philadelphia's NBC10 / WCAU, Telemundo62 / WWSI...
19/02/2025
RALEIGH, N.C. Capitol Broadcasting Company, Inc. (CBC) has announced that longtime local media leader Heather Gray has been named interim general manager of WRA...
19/02/2025
NILES, Ill. Shure Incorporated has announced that it is forming the Wireless Microphone Spectrum Alliance (WMSA), a coalition that will work to ensure access to...
19/02/2025
Lipstick on the Legacy: The Pitfalls of Superficial Media Transformation
The media and entertainment (M&E) industry has been undergoing digital transformation ...
19/02/2025
In 2024, TAG Video Systems dedicated itself to empowering customers to achieve their goals and deliver truly extraordinary media experiences. For 2025, TAG has ...
19/02/2025
Alfalite, the only European manufacturer of LED screens, is proud to announce that its Modularpix Pro VP XR solution is the core technology behind the new Coru ...
19/02/2025
The Ninth Order Completed With URSA Mini Pro 4.6K G2 and Fairlight
Brie Clayton February 18, 2025
0 Comments
Film shown at 20 global film festivals us...
19/02/2025
People Want Ads as Intelligent as their Content
Andy Marken February 18, 2025
0 Comments
In situations like this, carelessness, mistakes they will ha...
19/02/2025
Leadership change at Capitol Broadcasting Company's WRAL-TV/FOX 50
Capitol Broadcasting Company, Inc. (CBC) today announced that longtime local media lea...
19/02/2025
In financial services, AI has traditionally been used primarily for fraud detect...
19/02/2025
Collaboration enables long-term testing and evaluation support for HAPS platform...
19/02/2025
Mercedes-Benz Stadium Overhauls Production Ecosystem With Upgraded Control Rooms...
19/02/2025
Season two of the Sky Exclusive drama series The Last of Us debuts 14 AprilOfficial Teaser Posters ReleasedWednesday 19 February 2025
The seven-episode second ...
19/02/2025
Elevate your networks IQ: ipoques AI-driven DPI technology unveiled ipoque, a Rohde & Schwarz company, showcases its groundbreaking Encrypted Traffic Intellig...
19/02/2025
Kyocera and Rohde & Schwarz join forces to demonstrate OTA characterization of m...
19/02/2025
Back to All News
Taiwanese Rom-Com Series I am Married But!' Wins Hearts w...