17 December 2009
Tokyo, December 17, 2009 – Hitachi, Ltd. (Hitachi; TSE:6501 / NYSE:HIT) announced that in connection with the issuance of new shares by way of third-party allotment pursuant to a decision by its President and Chief Executive Officer on November 16, 2009, Hitachi has been notified that the allottee elects to fully subscribe for the shares issuable in accordance therewith, as set forth below.
| (1) | Number of New Shares to Be Issued | 60,000,000 shares (Number of New Shares Issuable: 60,000,000 shares) | |
| (2) | Issue Price Per Share | ¥220.48 | |
| (3) | Total Issue Price | ¥13,228,800,000 | |
| (4) | Amount by Which Stated Capital and Capital Reserve Are to Be Increased | Amount by Which Stated Capital Is to Be Increased | ¥6,614,400,000 |
| Amount by Which Capital Reserve Is to Be Increased | ¥6,614,400,000 | ||
| (5) | Subscription Period (Subscription Date) | December 24, 2009 (Thu.) | |
| (6) | Payment Date | December 25, 2009 (Fri.) | |
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1. The issuance of new shares by way of third-party allotment described above was determined, along with the issuance of new shares and the secondary offering of Hitachi’s shares (by way of over-allotment) as well as the issuance of 130% Call Option Attached Unsecured Convertible Bond Type Bonds with Stock Acquisition Rights (8th Series) (with inter-bond pari passu clause) (the “Bonds with Stock Acquisition Rights”), pursuant to a decision by Hitachi’s President and Chief Executive Officer on November 16, 2009. For more detailed information on the issuance of new shares by way of third-party allotment and other information, please refer to “Issuance and Sale of New Shares and Issuance of Call Option Attached Unsecured Bonds with Stock Acquisition Rights (Convertible Bonds)” announced on November 16, 2009, and “Determination of Offer Price and Selling Price for Issuance and Sale of Shares and Conversion Price and Other Conditions for Issuance of Convertible Bond Type Bonds with Stock Acquisition Rights” announced on December 7, 2009.
2. Change in the Number of Issued Shares as a Result of the Issuance of New Shares by Way of Third-Party Allotment
| Total number of issued shares at present | 4,458,126,056 shares |
| Increase in number of issued shares by way of third-party allotment | 60,000,000 shares |
| Total number of issued shares after the issuance of new shares by way of third-party allotment | 4,518,126,056 shares |
3. Use of Proceeds
Hitachi intends to use the net proceeds from the issuance of new shares by way of third-party allotment described above, the Japanese offering, the international offering and the issuance of the Bonds with Stock Acquisition Rights, which approximately amount to ¥349,292 million, to fund capital expenditures of ¥220.0 billion to strengthen its Social Innovation Business, to make investments of ¥40.0 billion to strengthen its Social Innovation Business and to use the remainder to repay Hitachi’s debt. Please refer to “Issuance and Sale of New Shares and Issuance of Call Option Attached Unsecured Bonds with Stock Acquisition Rights (Convertible Bonds)” announced on November 16, 2009 for more details of Hitachi’s plan for use of proceeds.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501) is a leading global technological and industrial company with total revenues of ¥10,000 billion ($102.0 billion) for the year ended March 31, 2009. Hitachi’s business is highly diversified, encompassing operations in the following seven segments: Information & Telecommunication Systems; Electronic Devices; Power & Industrial Systems; Digital Media & Consumer Products; High Functional Materials & Components; Logistics, Services & Others; and Financial Services. For more information on Hitachi, please visit Hitachi's website at http://www.hitachi.com.
Contacts
Japan: Masanao Sato
Hitachi, Ltd.
+81-3-5208-9324
masanao.sato.sz@hitachi.com
U.S.: Dash Hisanaga
Hitachi America, Ltd.
+1-914-333-2987
tadashi.hisanaga@hal.hitachi.com
Hitachi in Canada
At Hitachi, green and digital innovation drives our mission as climate change innovators. Converging operational and information technologies, Hitachi is addressing societal and environmental challenges, shaping a greener, brighter tomorrow for all.
