10-Year Financial Data
Hitachi, Ltd. and Subsidiaries

U.S. GAAPFor the year:
Revenues

FY2006

FY2007

FY2008FY2009FY2010FY2011FY2012¥10,247,903¥11,226,735¥10,000,369¥8,968,546¥9,315,807¥9,665,883¥9,041,071

Operating income

182,512345,516

127,146

202,159444,508

412,280

422,028

EBIT (Earnings before interest and taxes)

214,218

335,729(275,239)

77,815443,812573,218

358,015(32,799)(58,125)(787,337)(106,961)

238,869

347,179

175,326 Net income (loss) attributable to
Hitachi, Ltd. stockholders
Cash flows from operating activities

615,042

791,837

558,947

798,299

841,554447,155

583,508

Cash flows from investing activities(786,170)(637,618)(550,008)(530,595)(260,346)(195,584)(553,457)

Free cash flows(171,128)

154,219

8,939

267,704

581,208

251,571

30,051

Cash flows from financing activities

121,259(185,556)

284,388(502,344)(584,176)(167,838)(180,445)

Cash dividends declared

19,974

19,947

9,971—

36,13336,727

47,690 Capital expenditures(Property, plant and equipment)1,048,572

969,087

788,466

546,326

556,873649,234

742,537

Depreciation (Property, plant and equipment)

472,175

541,470

478,759441,697382,732

360,358

300,664

R&D expenditures

412,534

428,171416,517372,470

395,180

412,514341,310

Total assets

10,644,259

10,530,847

9,403,709

8,964,464

9,185,629

9,418,526

9,809,230

Property, plant and equipment

2,688,977

2,653,918

2,393,946

2,219,804

2,111,270

2,025,538

2,279,964

Total Hitachi, Ltd. stockholders’ equity

2,442,7972,170,612

1,049,951

1,284,658

1,439,865

1,771,782

2,082,560

Interest-bearing debt

2,687,450

2,531,506

2,820,109

2,367,143

2,521,551

2,396,454

2,370,079

Number of employees

349,996

347,810

361,796359,746

361,745

323,540

326,240  Basic¥(9.84)¥(17.48)¥(236.86)¥(29.20)¥52.89¥76.81¥37.28  Diluted(9.87)(17.77)(236.87)(29.20)

49.38

71.86

36.29

6.0

6.0

3.0

­—

8.0

8.0

10.0

734.66652.95315.86287.13318.73382.26431.13Operating income ratio1.8

3.1

1.3

2.3

4.8

4.3

4.7

EBIT ratio

2.1

3.0

–2.8

0.9

4.8

5.9

4.0

Return on revenues

–0.3

–0.5

–7.9

–1.2

2.6

3.6

1.9

Return on equity (ROE)

–1.3

–2.5

–48.9

–9.2

17.5

21.6

9.1

Return on assets (ROA)

0.4

0.5

–8.0

–0.9

3.3

4.4

2.5

 D/E ratio(Including non-controlling interests) (times)

0.76

0.76

1.29

1.04

1.03

0.86

0.75

Total Hitachi, Ltd. stockholders’ equity ratio

22.9

20.6

11.2

14.3

15.7

18.8

21.2

At year-end:

Per share data: Net income (loss) attributable toHitachi, Ltd. stockholders:Cash dividends declared
Total Hitachi, Ltd. stockholders’ equity

Financial ratios:

Notes: 1	In order to be consistent with financial reporting principles and practices generally accepted in Japan, operating income is presented as total revenues less cost of sales and selling,general and administrative expenses. The Company believes that this is useful to investors in comparing the Company’s financial results with those of other Japanese companies.
Under accounting principles generally accepted in the United States of America, restructuring charges, net gain or loss on sales and disposal of rental assets and other property
and impairment losses for long-lived assets are included as part of operating income.
2	The restructuring charges mainly represent special termination benefits incurred with the reorganization of our business structures and as the result of the Company andits ­subsidiaries reviewing and reshaping the business portfolio.
3	EBIT is presented as income before income taxes less interest income plus interest charges.
4	The Company has changed the number of employees to exclude temporary employees starting from the year ended March 31, 2010. The figures for the prior years have been
restated to reflect the current year’s presentation.
5	Effective from FY2014, a part of the thermal power generation systems business is classified as a discontinued operation in accordance with the provision of ASC 205-20,“Presentation of Financial Statements - Discontinued Operations,” which was not transferred to MITSUBISHI HITACHI POWER SYSTEMS, LTD. for the business integrationin the thermal power generation systems with Mitsubishi Heavy Industries, Ltd. The results of the discontinued operation are reported separately from continuing operations.
In line with this classification, “Revenues” and “Operating income” for FY2013 are reclassified.
6 ROA (Return on Assets) = Net income / Total Assets (Average between the end of current fiscal year and the end of previous fiscal year) x 100

56

Hitachi, Ltd. | Integrated Report 2016

Millions of yen

Millions of yen

FY2013

FY2014IFRS
For the year:¥9,563,791¥9,761,970

Revenues¥9,666,446¥9,774,930¥10,034,305

538,288

600,479

Adjusted operating income

604,798

641,325

634,869

585,662551,018

EBIT

691,230

534,059

531,003413,877

217,482

172,155

264,975

241,301 Net income attributable toHitachi, Ltd. stockholders

FY2013

FY2014FY2015439,406

447,348

Net cash provided by operating activities

306,777

451,825

812,226(491,363)(610,255)

Net cash used in investing activities(550,179)(612,545)(730,799)(51,957)(162,907)

Free cash flows(243,402)(160,720)

81,42732,968250,335

Net cash provided by (used in) financing activities

228,840

233,206(26,467)

50,711

57,944

Cash dividends declared

50,711

57,94457,939 Capital expenditures(Property, plant and equipment)

849,877

848,716

491,170

431,201

528,551

329,833

349,614

Depreciation (Property, plant and equipment)

331,228

350,783

366,547

351,426

335,515

R&D expenditures

354,487

334,814

333,730

11,016,899

12,395,379

Total assets

11,098,191

12,433,727

12,551,005

2,342,091

2,564,105

Property, plant and equipment

2,258,933

2,472,497

2,500,226

2,651,241

2,930,309

Total Hitachi, Ltd. stockholders’ equity

2,668,657

2,942,281

2,735,078

2,823,049

3,354,616

Interest-bearing debt

3,033,985

3,557,356

3,604,455

320,725

333,150

Number of employees

323,919

336,670

335,244

At year-end:

Yen

Yen

Per share data: Earnings per share attributable toHitachi, Ltd. stockholders:¥54.86¥49.97  Basic¥85.69¥45.04¥35.65

54.85

49.93

  Diluted

85.66

45.00

35.62

10.5

12.0

10.5

12.0

12.0

549.02606.87552.62609.35566.48Cash dividends declared
Total Hitachi, Ltd. stockholders’ equity%%

Financial ratios:
5.6

6.2

Adjusted operating income ratio

6.3

6.6

6.3

6.1

5.6

EBIT ratio

7.2

5.5

5.3

2.8

2.5

Return on revenues

4.3

2.2

1.7

11.2

8.6

Return on equity (ROE)

17.5

7.8

6.1

3.5

3.1

Return on assets (ROA)

5.0

2.9

2.4

0.78

0.83

0.87

24.0

23.7

21.8

0.73

0.78

 D/E ratio(Including non-controlling interests) (times)

24.1

23.6

Total Hitachi, Ltd. stockholders’ equity ratio

Notes: 1	In order to be consistent with financial reporting principles and practices generally accepted in Japan, adjusted
operating income is presented as total revenues less cost of sales and selling, general administrative expenses.
The Company believes that this is useful to investors in comparing the Company’s financial results with those ofother Japanese companies.
2	A part of the thermal power generation systems business is classified as a discontinued operation in accordancewith the provision of IFRS 5, “Non-current Assets Held for Sale and Discontinued Operations,” which was nottransferred to MITSUBISHI HITACHI POWER SYSTEMS, LTD. for the business integration in the thermal power­generation systems with Mitsubishi Heavy Industries, Ltd. The results of the discontinued operation are reported
separately from continuing operations.
3 From fiscal 2013, capital investment is stated exclusive of investment in lease assets classified as finance leases.
4	ROA (Return on Assets) = Net income / Total Assets (Average between the end of current fiscal year and the endof previous fiscal year) x 10057