Hitachi : has not given up yet on UK nuclear project - executive
December 17, 2018 at 02:03 pm IST
Share
TOKYO (Reuters) - Hitachi Ltd has not given up yet on its nuclear project in Britain, a senior executive said on Monday, denying recent media reports that it was considering scrapping the 3 trillion yen (21 billion pounds) project.
"Britain and Japan are both making efforts," Executive Vice President and Executive Officer Toshikazu Nishino said at a briefing on Hitachi's acquisition of ABB's power grid business.
"It's not an easy negotiation, but we haven't given up and are still working on it," he said.
The comments come after Japan's TV Asahi reported the firm is considering scrapping the project in Britain due to projections of further increases in construction costs.
(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).