23 October 2013

Tokyo, October 23, 2013 – Hitachi, Ltd. (TSE: 6501 / “Hitachi”), Hitachi Systems, Ltd. (“Hitachi Systems”) and Tokyo Electric Power Company, Inc. (TSE: 9501 / “TEPCO”) today announced that they have concluded a share transfer agreement and shareholders agreement for a strategic business alliance relating to TEPCO Systems Corporation (“TEPCO Systems”), a wholly owned TEPCO subsidiary that handles the development, maintenance and operation of information systems.

Specifically, TEPCO Systems will establish a new company in March 2014 by company split. The new company will conduct business involving the development and maintenance of systems centered on general management tasks at TEPCO and to operate all administrative systems. Thereafter, Hitachi Systems and Hitachi will promptly purchase equity interests in the new company of 51.0% and 15.6%, respectively, from TEPCO to make Hitachi Systems Power Services, Ltd. ("Hitachi Systems Power Services") a consolidated subsidiary of Hitachi.

Hitachi is accelerating global development of its Social Innovation Business to solve issues facing society and customers through innovative solutions combining products, services and highly sophisticated IT. At the same time, Hitachi is working to expand its services businesses as a pillar of its growth strategy.

Hitachi Systems, as a core company in Hitachi’s information & telecommunication systems business, provides information systems and services to all types of clients based on its core competencies of information system operation and maintenance services. In tandem, it is strengthening its information system and services businesses in the social infrastructure field, including the electric power industry.

TEPCO is working to increase external resources for TEPCO Group systems, aiming to achieve greater management rationalization and improve customer services.

Against this backdrop, Hitachi, Hitachi Systems and TEPCO today agreed that Hitachi will make Hitachi Systems Power Services its consolidated subsidiary as well as that TEPCO and the company will conclude a business alliance relating to outsourcing services for information systems by the share transfer agreement concluded today. Furthermore, the three companies plan to collaborate in development of new information services businesses through Hitachi Systems Power Services, exchange human resources and cooperate in other ways based on a shareholders agreement also concluded on the same day. The three companies will thus build a strategic business alliance relationship through these moves.

After the split, TEPCO Systems will keep its position as a wholly owned subsidiary of TEPCO, engaging in development, maintenance unique to electric power supply and sales systems as well as electric power related engineering. It will support TEPCO’s electric power businesses through alliance with Hitachi Systems Power Services.

Hitachi and Hitachi Systems, through Hitachi Systems Power Services, will fuse TEPCO Systems’ experience and know-how built up over many years in the development and operation of electric power systems with Hitachi and Hitachi Systems’ wide-ranging operating and maintenance service expertise, human resources and service platforms. This fusion will enable Hitachi and Hitachi Systems to provide high-quality and highly reliable information systems services to TEPCO. At the same time, the two companies aim to expand their information system and service businesses in the social infrastructure field, including the electric power industry.

TEPCO aims to further increase operational efficiency by utilizing Hitachi Systems Power Services. Additionally, it plans to achieve its goals for divesting subsidiaries and affiliates set out in its Comprehensive Special Business Plan by the transfer of shares announced today.

About Hitachi Systems Power Services, Ltd. (Planned)

About Hitachi, Ltd.

About Hitachi Systems, Ltd.

About Tokyo Electric Power Company, Inc.

About TEPCO Systems Corporation(As of March 31, 2013)

Contacts

Japan

Yuichi Izumisawa

Hitachi, Ltd.

+81-3-5208-9323

yuichi.izumisawa.by@hitachi.com

U.S.A.

Mickey Takeuchi

Hitachi America, Ltd.

+1-914-333-2987

masayuki.takeuchi@hal.hitachi.com

Tokyo Electric Power Company, Inc.

Japan

Public Relations Department

Tokyo Electric

Power Company Inc.

+ 81-3-6373-1111

23 October 2013

Tokyo, October 23, 2013 --- Hitachi, Ltd. (TSE: 6501 / “Hitachi”) today announced that it has decided to transfer its elevator and escalator business in Japan and integrate it with Hitachi Building Systems Co., Ltd. (“Hitachi Building Systems”), a wholly owned subsidiary, on April 1, 2014. The purpose of this restructuring is to strengthen and expand the elevator and escalator business in Japan.

Specifically, Hitachi will use a company split to transfer the design, manufacturing and sales divisions related to elevator and escalator business in Japan operated by Hitachi in-house company Urban Planning and Development Systems Company to Hitachi Building Systems, which handles sales, installation, maintenance and refurbishment. The Urban Planning and Development Systems Company will now focus on global corporate functions and development oversight functions in the elevator and escalator business, while the respective businesses in Japan, China and Asia will be conducted by Hitachi Building Systems, Hitachi Elevator (China) Co., Ltd. (“Hitachi Elevator (China)”) and Hitachi Elevator Asia Pte. Ltd. (“Hitachi Elevator Asia”) as regional headquarters.

Certain disclosures and details have been omitted as this transaction is a company split transferring businesses from Hitachi to its wholly owned subsidiary.

1. Purpose of Company Split

The global elevator and escalator market is forecast to see higher demand going forward, particularly in emerging markets such as China and India, which account for approximately 60% of demand for new elevators and escalators. Hitachi established Hitachi Elevator (China) in 1995 in Guangzhou, Guangdong, China, and Hitachi Elevator Asia in 2010 in Singapore as the regional headquarters for China and Asia respectively, and is working to expand business globally in this field. Recently, Hitachi has been promoting the standardization of production management systems, which were different in each country and region, as well as strengthening manufacturing globally. Meanwhile, in Japan Hitachi’s Urban Planning and Development Systems Company, which is responsible for the development, design, manufacture and sale of elevators and escalators, has been working to develop business with Hitachi Building Systems, which handles sales, installation, maintenance and refurbishment. Amid lackluster demand for new elevators and escalators in Japan in recent years, Hitachi has been taking steps to strengthen the refurbishment business, since there are an increasing number of elevators and escalators due for modernization.

In addition, Hitachi is concentrating on the Social Innovation Business, which aims to provide IT-enhanced social infrastructure on a global basis. At the same time, Hitachi is working to improve the efficiency and speed of fundamental tasks and decision-making through the Hitachi Smart Transformation Project, with the goal of transforming Hitachi into a global major player. Recently, Hitachi has been pushing ahead with efforts to create a simpler, highly functional organization that focuses on strategy formulation and implementation, and on making proposals and providing support to executives. The aim is for Group Corporate divisions to drive Hitachi Group activities for promoting the Social Innovation Business.

Through this company split, Hitachi will transfer the design, manufacturing and sales divisions related to elevators and escalators of the Urban Planning and Development Systems Company to Hitachi Building Systems to realize integrated management. In this way, Hitachi will be able to provide one-stop solutions extending from manufacturing to sales and services. Moreover, this move is intended to optimize management resources and increase cost competitiveness. At the same time, by strengthening the refurbishment business, which is expected to see higher demand going forward, Hitachi aims to expand and reinforce the elevator and escalator business in Japan. Meanwhile, the Urban Planning and Development Systems Company will focus on global corporate functions, including global business oversight of the elevator and escalator business, and development oversight. By supporting regional headquarters for Japan, China and Asia and strengthening governance, this in-house company will develop global strategy models and promote overall optimization of manufacturing, thereby expanding business.

2. Outline of Company Split

(1) Company Split Schedule

(Note) The company split is deemed to be a simple absorption-type company split, pursuant to Article 784, Paragraph 3 of the Companies Act of Japan. Therefore, Hitachi does not plan to convene a shareholders’ meeting to obtain approval for the company split agreement.

(2) Company Split Method

This is an absorption-type split in which Hitachi is the transferring company and Hitachi Building Systems is the successor company.

(3) Handling of Stock Acquisition Rights and Bonds with Stock Acquisition Rights Accompanying the Company Split

Hitachi has no outstanding stock acquisition rights or bonds with stock acquisition rights.

(4) Capitalization Changes Accompanying the Company Split

The company split will result in no change in capitalization of Hitachi.

(5) Others

Other details of the company split will be announced when they are determined.

3. Profile of the Parties of the Company Split

*1 Since Hitachi has been adopting U.S. accounting standards, this figure represents stockholders’ equity per share.

*2 Since Hitachi has been adopting U.S. accounting standards, this figure represents income before income taxes.

*3 Since Hitachi has been adopting U.S. accounting standards, these figures represent net income attributable to Hitachi, Ltd. stockholders and net income attributable to Hitachi, Ltd. stockholders per share basic, respectively.

4. Overview of the Business to Be Transferred

(1) Business of the Business to Be Transferred

Design, manufacture, sale, etc. related to elevator and escalator business in Japan.

(2) Others

Other details concerning the business to be transferred will be announced as they are decided.

5. Status of Succeeding Company After Transfer

6. Status of Hitachi After the Company Split

There will be no change in the company name, head office location, representative’s position or name, business activities, capital or fiscal year of Hitachi due to the company split.

7. Outlook

The company split will have no impact on the consolidated operating results of Hitachi.

(Reference) Consolidated Business Forecasts for the Year Ending March 31, 2014 (announced on October 23, 2013) and Consolidated Operating Results for the Previous Fiscal Year

(Millions of yen)

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company’s consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others. For more information on Hitachi, please visit the company’s website at http://www.hitachi.com.

Cautionary Statement

Certain statements found in this document may constitute “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” reflect management’s current views with respect to certain future events and financial performance and include any statement that does not directly relate to any historical or current fact. Words such as “anticipate,” “believe,” “expect,” “estimate,” “forecast,” “intend,” “plan,” “project” and similar expressions which indicate future events and trends may identify “forward-looking statements.” Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or implied in the “forward-looking statements” and from historical trends. Certain “forward-looking statements” are based upon current assumptions of future events which may not prove to be accurate. Undue reliance should not be placed on “forward-looking statements,” as such statements speak only as of the date of this document.

Factors that could cause actual results to differ materially from those projected or implied in any “forward-looking statement” and from historical trends include, but are not limited to:

• economic conditions, including consumer spending and plant and equipment investment in Hitachi’s major markets, particularly Japan, Asia, the United States and Europe, as well as levels of demand in the major industrial sectors Hitachi serves, including, without limitation, the information, electronics, automotive, construction and financial sectors;

• exchange rate fluctuations of the yen against other currencies in which Hitachi makes significant sales or in which Hitachi’s assets and liabilities are denominated, particularly against the U.S. dollar and the euro;

• uncertainty as to Hitachi’s ability to access, or access on favorable terms, liquidity or long-term financing;

• uncertainty as to general market price levels for equity securities, declines in which may require Hitachi to write down equity securities that it holds;

• the potential for significant losses on Hitachi’s investments in equity method affiliates;

• increased commoditization of information technology products and digital media-related products and intensifying price competition for such products, particularly in the Digital Media & Consumer Products segment;

• uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technologies on a timely and cost-effective basis and to achieve market acceptance for such products;

• rapid technological innovation;

• the possibility of cost fluctuations during the lifetime of, or cancellation of, long-term contracts for which Hitachi uses the percentage-of-completion method to recognize revenue from sales;

• fluctuations in the price of raw materials including, without limitation, petroleum and other materials, such as copper, steel, aluminum, synthetic resins, rare metals and rare-earth minerals, or shortages of materials, parts and components;

• fluctuations in product demand and industry capacity;

• uncertainty as to Hitachi’s ability to implement measures to reduce the potential negative impact of fluctuations in product demand, exchange rates and/or price of raw materials or shortages of materials, parts and components;

• uncertainty as to Hitachi’s ability to achieve the anticipated benefits of its strategy to strengthen its Social Innovation Business;

• uncertainty as to the success of restructuring efforts to improve management efficiency by divesting or otherwise exiting underperforming businesses and to strengthen competitiveness;

• uncertainty as to the success of cost reduction measures;

• general socioeconomic and political conditions and the regulatory and trade environment of countries where Hitachi conducts business, particularly Japan, Asia, the United States and Europe, including, without limitation, direct or indirect restrictions by other nations on imports and differences in commercial and business customs including, without limitation, contract terms and conditions and labor relations;

• uncertainty as to the success of alliances upon which Hitachi depends, some of which Hitachi may not control, with other corporations in the design and development of certain key products;

• uncertainty as to Hitachi’s access to, or ability to protect, certain intellectual property rights, particularly those related to electronics and data processing technologies;

• uncertainty as to the outcome of litigation, regulatory investigations and other legal proceedings of which the Company, its subsidiaries or its equity method affiliates have become or may become parties;

• the possibility of incurring expenses resulting from any defects in products or services of Hitachi;

• the possibility of disruption of Hitachi’s operations by earthquakes, tsunamis or other natural disasters;

• uncertainty as to Hitachi’s ability to maintain the integrity of its information systems, as well as Hitachi’s ability to protect its confidential information or that of its customers;

• uncertainty as to the accuracy of key assumptions Hitachi uses to evaluate its significant employee benefit-related costs; and

• uncertainty as to Hitachi’s ability to attract and retain skilled personnel.

The factors listed above are not all-inclusive and are in addition to other factors contained in other materials published by Hitachi.

Contacts

Japan

Katsunori Shimokawara

Hitachi, Ltd.

+81-3-5208-9325

katsunori.shimokawara.zs@hitachi.com

U.S.A.

Mickey Takeuchi

Hitachi America, Ltd.

+1-914-333-2987

masayuki.takeuchi@hal.hitachi.com

23 October 2013

Tokyo, October 23, 2013 --- Hitachi, Ltd. (TSE:6501) today announced revisions to the Company’s consolidated business forecasts for the first half of fiscal 2013, the year ending March 31, 2014, which were announced on July 30, 2013 in light of recent business performance.

Revisions of Consolidated Interim Business Forecasts for Fiscal 2013

Reasons for Revisions

Hitachi has raised its forecast for revenues for the first half of fiscal 2013 by 70 billion yen from the previous forecast announced on July 30, 2013 expecting higher revenues in the Information & Telecommunication Systems Segment, Automotive Systems Segment and other segments.

The Company has also raised its forecast for operating income by 28 billion yen. This revision is based on improved operating income in all business segments, most notably in Power Systems segment and Social Infrastructure & Industrial Systems Segment. Hitachi plans to post the fine due to violations of U.S. antitrust laws, which Hitachi Automotive Systems, Ltd. -- subsidiary of Hitachi -- has agreed to pay with the United States Department of Justice, in the amount of 195 million U.S. dollars (19.0 billion yen) on other deductions. On the other hand, Hitachi plans to post improved net gain on foreign exchange and net loss on sale and disposal of fix assets on other income. As a result, Hitachi has also raised its projection for income before income taxes by 20 billion yen, and raised its forecasts for net income by 19 billion yen and net income attributable to Hitachi, Ltd. stockholders by 17 billion yen.

Hitachi adopted EBIT^* as one of KPIs to measure its business performance from this fiscal year. The Company has raised its forecast for EBIT for the first half of fiscal 2013, which were 120 billion yen, by 22 billion yen to 142 billion yen. This mainly reflecting the improvement in operating income. EBIT of the same period of previous fiscal year was 124 billion yen.
^* EBIT is defined income before income taxes less interest income plus interest charges.

On the basis of these results, Consolidated Interim Business Forecasts for Fiscal 2013 will mark increases both in revenues and profits.

Hitachi has not revised its full-year forecasts at this time because of considerable uncertainty surrounding the business environment in the second half of fiscal 2013. Uncertain factors include trends in the global economy, especially in the U.S., Europe and China, foreign currency fluctuations, and fluctuations in raw materials prices.

Cautionary Statement

Certain statements found in this document may constitute “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” reflect management’s current views with respect to certain future events and financial performance and include any statement that does not directly relate to any historical or current fact. Words such as “anticipate,” “believe,” “expect,” “estimate,” “forecast,” “intend,” “plan,” “project” and similar expressions which indicate future events and trends may identify “forward-looking statements.” Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from those projected or implied in the “forward-looking statements” and from historical trends. Certain “forward-looking statements” are based upon current assumptions of future events which may not prove to be accurate. Undue reliance should not be placed on “forward-looking statements,” as such statements speak only as of the date of this document.

Factors that could cause actual results to differ materially from those projected or implied in any “forward-looking statement” and from historical trends include, but are not limited to:

• economic conditions, including consumer spending and plant and equipment investment in Hitachi’s major markets, particularly Japan, Asia, the United States and Europe, as well as levels of demand in the major industrial sectors Hitachi serves, including, without limitation, the information, electronics, automotive, construction and financial sectors;

• exchange rate fluctuations of the yen against other currencies in which Hitachi makes significant sales or in which Hitachi’s assets and liabilities are denominated, particularly against the U.S. dollar and the euro;

• uncertainty as to Hitachi’s ability to access, or access on favorable terms, liquidity or long-term financing;

• uncertainty as to general market price levels for equity securities, declines in which may require Hitachi to write down equity securities that it holds;

• the potential for significant losses on Hitachi’s investments in equity method affiliates;

• increased commoditization of information technology products and digital media-related products and intensifying price competition for such products, particularly in the Digital Media & Consumer Products segment;

• uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technologies on a timely and cost-effective basis and to achieve market acceptance for such products;

• rapid technological innovation;

• the possibility of cost fluctuations during the lifetime of, or cancellation of, long-term contracts for which Hitachi uses the percentage-of-completion method to recognize revenue from sales;

• fluctuations in the price of raw materials including, without limitation, petroleum and other materials, such as copper, steel, aluminum, synthetic resins, rare metals and rare-earth minerals, or shortages of materials, parts and components;

• fluctuations in product demand and industry capacity;

• uncertainty as to Hitachi’s ability to implement measures to reduce the potential negative impact of fluctuations in product demand, exchange rates and/or price of raw materials or shortages of materials, parts and components;

• uncertainty as to Hitachi’s ability to achieve the anticipated benefits of its strategy to strengthen its Social Innovation Business;

• uncertainty as to the success of restructuring efforts to improve management efficiency by divesting or otherwise exiting underperforming businesses and to strengthen competitiveness;

• uncertainty as to the success of cost reduction measures;

• general socioeconomic and political conditions and the regulatory and trade environment of countries where Hitachi conducts business, particularly Japan, Asia, the United States and Europe, including, without limitation, direct or indirect restrictions by other nations on imports and differences in commercial and business customs including, without limitation, contract terms and conditions and labor relations;

• uncertainty as to the success of alliances upon which Hitachi depends, some of which Hitachi may not control, with other corporations in the design and development of certain key products;

• uncertainty as to Hitachi’s access to, or ability to protect, certain intellectual property rights, particularly those related to electronics and data processing technologies;

• uncertainty as to the outcome of litigation, regulatory investigations and other legal proceedings of which the Company, its subsidiaries or its equity method affiliates have become or may become parties;

• the possibility of incurring expenses resulting from any defects in products or services of Hitachi;

• the possibility of disruption of Hitachi’s operations by earthquakes, tsunamis or other natural disasters;

• uncertainty as to Hitachi’s ability to maintain the integrity of its information systems, as well as Hitachi’s ability to protect its confidential information or that of its customers;

• uncertainty as to the accuracy of key assumptions Hitachi uses to evaluate its significant employee benefit-related costs; and

• uncertainty as to Hitachi’s ability to attract and retain skilled personnel.

The factors listed above are not all-inclusive and are in addition to other factors contained in other materials published by Hitachi.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company’s consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

Contacts

Japan

Yoji Maruo

Hitachi, Ltd.

+81-3-5208-9324

yoji.maruo.pt@hitachi.com

U.S.A.

Mickey Takeuchi

Hitachi America, Ltd.

+1-914-333-2987

masayuki.takeuchi@hal.hitachi.com

12 December 2013

Strategic acquisition reaffirms Hitachi Solutions’ commitment to Canadian market, expands breadth and depth of industry solutions and grows global footprint

IRVINE, Calif., U.S., TORONTO and CALGARY, Canada, Dec 2, 2013 – Hitachi Solutions America, Ltd., a leading provider of global industry business solutions, today announced Hitachi Solutions Canada, Ltd., the subsidiary of Hitachi Solutions America, has acquired Ideaca, a Canadian-based consulting company. This acquisition will better position Hitachi Solutions to meet the needs of its growing Canadian client base by broadening its services and expanding its industry offerings. It also further increases its global market footprint with the addition of more than 300 highly-skilled resources for service delivery throughout North America.

Founded in 2000, Ideaca has locations in Toronto, Kitchener, Edmonton, Calgary, and Vancouver that deliver solutions to more than 350 clients. Using a benefits-based approach to ensure successful outcomes and realized results, the company delivers a portfolio of management consulting, implementation and support services including enterprise resource planning (ERP), business intelligence (BI), portals and collaboration, cloud computing, custom development and integration, customer relationship management (CRM), application infrastructure and mobility across a broad range of industries.

“This strategic acquisition underscores Hitachi Solutions’ commitment to meeting the unique needs of the Canadian market,” said Mike Gillis, Chief Operating Officer, Business Solution Group, Hitachi Solutions America. “Ideaca’s proven leadership and reputation for delivering benefit-driven solutions is an ideal fit for our expansion. As we combine our strengths with their strong management consulting, post-implementation support and renowned business intelligence practice, we can rapidly expand our capabilities and extend the lifetime value of our client engagements.

Canada is a key geography for the company because of its strong business outlook and talented and well-educated workforce. In April 2013, Hitachi Solutions opened a Canadian subsidiary to be more responsive to existing Canadian clients and to enhance its ability to win new business in Canada.

With this acquisition, Ideaca will become part of Hitachi Solutions Canada, Ltd. and will be operating under the Business Solutions Group. Hitachi Solutions America’s Business Solutions Group brings proven, award-winning industry solutions, software domain expertise, intellectual property and global resources to open up exciting business and employment opportunities around Canada.

Muneer Hirji will be appointed as President to lead the new entity and will report to Gillis.

“Ideaca is extremely pleased to join a global brand with the outstanding caliber of Hitachi Solutions,” said Hirji. “We look forward to integrating our experience and strengthening our synergies to bring great industry-focused solutions to both regionally-focused and multinational companies throughout Canada. With its long history of technology excellence, industry leadership and employee-driven culture, Hitachi Solutions will make a great home for our employees.”

“With this acquisition, Hitachi Solutions is now even better positioned to elevate Microsoft Dynamics solutions and services available to clients throughout Canada,” Rob Adams, General Manager, Microsoft Dynamics Canada. “This is a significant milestone that will help us continue to gain a stronger foothold in this key market.”

Both companies will utilize their respective business process integration skills to work toward a smooth transition to maintain business momentum, retain personnel and continue to deliver the highest quality of client support.

About Hitachi Solutions Ltd.

Hitachi Solutions, Ltd., headquartered in Tokyo, Japan, is a core member of Information & Telecommunication Systems Company of Hitachi Group and a recognized leader in delivering proven business and IT strategies and solutions to companies across many industries. The company provides value-driven services throughout the IT life cycle from systems planning to systems integration, operation and maintenance. Hitachi Solutions delivers products and services of superior value to customers worldwide through key subsidiaries in the North America, Europe, China and India. The flagship company in the Hitachi Group's information and communication system solutions business, Hitachi Solutions also offers solutions for social innovation such as smart cities. For more information on Hitachi Solutions, please visit: http://www.hitachi-solutions.com.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company’s consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

Contacts

U.S.

Craig Burbidge

Vice President Market Development

Hitachi Solutions America, Ltd.

+1-949-242-1313

cburbidge@hitachi-solutions.com

3 December 2013

Johnson Controls and Hitachi Announce Global Air Conditioning Joint Venture

Johnson Controls together with new joint venture will create world’s largest commercial air conditioning provider

MILWAUKEE and TOKYO – (December 3, 2013) – Today Johnson Controls, Inc., Hitachi, Ltd. and Hitachi Appliances, Inc. (collectively referred to as Hitachi) announced that the companies have signed a non-binding memorandum of understanding for a transaction in which Johnson Controls will obtain a 60% ownership stake in Hitachi Appliances’ global air conditioning business, excluding sales and service operations in Japan and certain other assets. The companies expect the joint venture to begin operations in 2014, subject to final due diligence and board approvals, definitive agreement on terms, required regulatory approvals and other customary conditions.

Building on the leadership of both companies, the partnership will include key products such as Variable Refrigerant Flow (VRF) and inverter technologies supporting both the commercial and residential markets. The joint venture will combine Johnson Controls’ global reach with Hitachi’s technology expertise.

“Technology leadership derived from its ongoing investments in research and development have established Hitachi as a key contributor to the global HVAC*1 industry,” said Alex Molinaroli, president and chief executive officer, Johnson Controls. “The addition of these capabilities adds key technologies to our product portfolio. Combined with our existing $15 billion building technologies and services business, this investment positions Johnson Controls as the world’s largest commercial air conditioning provider.”

A global multi-industrial company, Johnson Controls is a leading supplier of heating, ventilation, air-conditioning, building controls, refrigeration and security systems for buildings. Through its Building Efficiency business, the company delivers solutions that increase energy efficiency and lower operating costs for over a million customers who are served through nearly 700 offices in more than 150 countries.

A global home appliances and air conditioning solutions provider, Hitachi Appliances, a wholly owned subsidiary of leading global electronics and infrastructure solutions provider Hitachi, Ltd., supplies high quality, efficient and reliable air conditioning solutions across the globe, from inverter based residential room air conditioners to variable refrigerant flow systems, and other air conditioning equipment for commercial and industrial use.

The proposed joint venture comes at a time when the worldwide air conditioning market is rapidly changing. Customers are increasingly demanding air conditioning options with better energy efficiency in response to an increase in energy-saving and environmentally-protective regulations.

“Both companies have a long and proud history of innovation and growth in the industry with similar values and cultures,” said Hiroaki Nakanishi, President of Hitachi, Ltd. “As the worldwide air conditioning business environment continues to evolve, we believe Johnson Controls and Hitachi’s partnership can supply integrated solutions to fulfill the needs of customers around the world.”

“This is great news for our customers who will benefit from the full range of solutions, equipment and service that Johnson Controls and Hitachi can offer them on a global scale,” said Molinaroli.

Hiroaki Nakanishi also said "Alongside with this joint venture, we look forward to exploring further opportunities to collaborate with Johnson Controls and Hitachi's broad building solution business capitalizing on IT-related technologies.”

^*1: Acronym for Heating, Ventilation, and Air Conditioning

About Johnson Controls

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2013, Corporate Responsibility Magazine recognized Johnson Controls as the #14 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company’s consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others.

For more information on Hitachi, please visit the company’s website at http://www.hitachi.com.

About Hitachi Appliances, Inc.

Hitachi Appliances, Inc., headquartered in Tokyo, was established in April 1, 2006, through the merger of Hitachi Air Conditioning Systems Co., Ltd. and Hitachi Home & Life Solutions, Inc. that were both wholly owned by Hitachi, Ltd. Its consolidated sales for fiscal year ended March 31, 2013, totaled 569 billion yen (approximately $6.0 billion). The company supplies eco-friendly, comfortable home appliances and air conditioning products around the world capitalizing on its cutting-edge technologies.

For more information on Hitachi Appliances, please visit http://www.hitachi-ap.com/index.html

FORWARD-LOOKING STATEMENTS

Johnson Controls, Inc. and Hitachi, Ltd. have made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” or terms of similar meaning are also generally intended to identify forward-looking statements. Johnson Controls and Hitachi caution that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls’ and Hitachi’s control, that could cause Johnson Controls’ and Hitachi’s actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the ability to negotiate and enter into a definitive joint venture agreement and the receipt of all necessary government and other approvals, and the satisfaction of any closing conditions, relating to the creation of the joint venture, as well as other factors discussed in Item 1A of Part I of Johnson Controls’ most recent Annual Report on Form 10-K for the year ended September 30, 2013. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are only made as of the date of this document, and Johnson Controls and Hitachi assume no obligation, and disclaims any obligation, to update forward-looking statements to reflect events or circumstances occurring after the date of this document.

Contacts

Johnson Controls Contact:

Fraser Engerman

Director, Global Media Relations

+1 414 524 2733

fraser.engerman@jci.com

Johnson Controls Contact in Japan:

Nozomu "Bobby" Fukuda

Hakuhodo, Inc.

+81-3-6441-4454

NOZOMU.FUKUDA@hakuhodo.co.jp

Hitachi, Ltd. Contact:

Hiroshi Inami

Manager, Public Relations and Investor Relations Department

hiroshi.inami.tf@hitachi.com

+81-3-5208-9325

Hitachi Appliance, Inc. Contact:

Kantaro Tanii

Senior Manager, Corporate Communications Department

kantaro.tanii.gx@hitachi.com

+81-3-3506-1476

8 January 2014

8 January 2014

28 January 2014

28 January 2014

4 February 2014