10-Year Financial Data
Hitachi, Ltd. and subsidiaries

U.S. GAAPFor the year:

FY2005

FY2006

FY2007

FY2008FY2009FY2010

Revenues¥9,464,801¥10,247,903¥11,226,735¥10,000,369¥8,968,546¥9,315,807

Operating income

256,012

182,512345,516

127,146

202,159444,508

EBIT (earnings before interest and taxes)

289,959214,218

335,729(275,239)

77,815443,812Net income (loss) attributable to Hitachi, Ltd.
stockholders

37,320(32,799)(58,125)(787,337)(106,961)

238,869

Cash flows from operating activities

690,875

615,042

791,837

558,947

798,299

841,554

Cash flows from investing activities(501,362)(786,170)(637,618)(550,008)(530,595)(260,346)

Free cash flows

189,513(171,128)

154,219

8,939

267,704

581,208

Cash flows from financing activities(261,638)

121,259(185,556)

284,388(502,344)(584,176)

Cash dividends declared

36,641

19,974

19,947

9,971—

36,133Capital expenditures (Property, plant andequipment)

954,706

1,048,572

969,087

788,466

546,326

556,873Depreciation (Property, plant andequipment)

451,170

472,175

541,470

478,759441,697382,732

R&D expenditures

405,079

412,534

428,171416,517372,470

395,180

Total assets

10,021,195

10,644,259

10,530,847

9,403,709

8,964,464

9,185,629

Property, plant and equipment

2,460,186

2,688,977

2,653,918

2,393,946

2,219,804

2,111,270

Total Hitachi, Ltd. stockholders’ equity

2,507,773

2,442,797

2,170,612

1,049,951

1,284,658

1,439,865

Interest-bearing debt

2,419,044

2,687,450

2,531,506

2,820,109

2,367,143

2,521,551

Number of employees

327,324

349,996

347,810

361,796359,746

361,745		Basic¥11.20¥(9.84)¥(17.48)¥(236.86)¥(29.20)¥52.89		Diluted

10.84(9.87)(17.77)(236.87)(29.20)

49.38

11.0

6.0

6.0

3.0

­—

8.0

752.91734.66652.95315.86287.13318.73Operating income ratio

2.7

1.8

3.1

1.3

2.3

4.8

EBIT ratio

3.1

2.1

3.0

–2.8

0.9

4.8

Return on revenues

0.4

–0.3

–0.5

–7.9

–1.2

2.6

Return on equity (ROE)

1.5

–1.3

–2.5

–48.9

–9.2

17.5

Return on assets (ROA)

0.4

–0.3

–0.6

–8.4

–1.2

2.6

D/E ratio (including noncontrollinginterests) (times)

0.68

0.76

0.76

1.29

1.04

1.03

Total Hitachi, Ltd. stockholders’ equity ratio

25.0

22.9

20.6

11.2

14.3

15.7

At year-end:

Per share data:Net income (loss) attributable to Hitachi, 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 andimpairment 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 and its 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 restatedto 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 integration in 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 thisclassification, “Revenues” and “Operating income” for FY2013 are reclassified.

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Hitachi, Ltd. | Annual Report 2015

Millions of yen

Millions of yen

IFRS

FY2011FY2012FY2013

FY2014

For the year:FY2013

FY2014¥9,665,883¥9,041,071¥9,563,791¥9,761,970

Revenues¥9,666,446¥9,774,930

412,280

422,028

538,288

600,479

Adjusted operating income

604,798

641,325

573,218

358,015585,662551,018

EBIT

691,230

534,059

241,301Net income attributable to Hitachi, Ltd.
stockholders

413,877

217,482

347,179

175,326

264,975

447,155

583,508

439,406

447,348

Net cash provided by operating activities

306,777

451,825(195,584)(553,457)(491,363)(610,255)

Net cash used in investing activities(550,179)(612,545)

251,571

30,051(51,957)(162,907)

Free cash flows(243,402)(160,720)(167,838)(180,445)

32,968250,335

Net cash provided by financing activities

228,840

233,206

36,727

47,69050,711

57,944

Cash dividends declared

50,711

57,944

848,716Capital expenditures (Property, plantand equipment)

849,864

850,953

331,228

350,783

354,487

334,814649,234

742,537

849,877

360,358

300,664

329,833

349,614Depreciation (Property, plant andequipment)

412,514341,310351,426

335,515R&D expenditures

9,418,526

9,809,230

11,016,899

12,395,379

Total assets

11,098,191

12,433,727

2,025,538

2,279,964

2,342,091

2,564,105

Property, plant and equipment

2,258,933

2,472,497

1,771,782

2,082,560

2,651,241

2,930,309

Total Hitachi, Ltd. stockholders’ equity

2,668,657

2,942,281

2,396,454

2,370,079

2,823,049

3,354,616

Interest-bearing debt

3,033,985

3,557,356

323,540

326,240

320,725

333,150

Number of employees

323,919

336,670

At year-end:

Yen

Yen

Per share data:Earnings per share attributable toHitachi, Ltd. stockholders:¥76.81¥37.28¥54.86¥49.97

71.86

36.29

54.85

49.93

8.0

10.0

10.5

12.0

382.26431.13549.02606.87

Basic				Diluted
Cash dividends declared
Total Hitachi, Ltd. stockholders’ equity¥85.69¥45.04

85.66

45.00

10.5

12.0

552.62609.35%%

Financial ratios:
4.3

4.7

5.6

6.2

Adjusted operating income ratio

6.3

6.6

5.9

4.0

6.1

5.6

EBIT ratio

7.2

5.5

3.6

1.9

2.8

2.5

Return on revenues

4.3

2.2

21.69.1

11.2

8.6

Return on equity (ROE)

17.5

7.8

3.7

1.8

2.4

1.9

Return on assets (ROA)

3.7

1.7

0.78

0.83

24.0

23.7

0.86

0.75

0.73

0.78

D/E ratio (including noncontrollinginterests) (times)

18.8

21.2

24.1

23.6

Total 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 lesscost of sales and selling, general administrative expenses. The Company believes
that this is useful to investors in comparing the Company’s financial results withthose of other Japanese companies.
2. A part of the thermal power generation systems business is classified as a discontinued operation in accordance with the provision of IFRS 5, “Non-current Assets
Held for Sale and Discontinued Operations,” which was not transferred toMITSUBISHI HITACHI POWER SYSTEMS, LTD for the business integration in thethermal power generation systems with Mitsubishi Heavy Industries, Ltd. The
results of the discontinued operation are reported separately from continuing
operations.

31