FOR IMMEDIATE RELEASE

Notice Concerning Conclusion of Absorption-type Corporate
Split Agreement Relating to Car Information Systems BusinessRealignment
Tokyo, February 22, 2013 – Hitachi, Ltd. (TSE: 6501, “Hitachi”) and Hitachi
Automotive Systems, Ltd. (“Hitachi Automotive Systems”) on December 6,2012 announced that the two companies agreed that the operations of theCar Information Systems (“CIS”)* 1 Division of Hitachi Automotive Systems
would be transferred to the Information & Telecommunication Systems
Company of Hitachi on April 1, 2013 through a corporate split. The purpose ofthe transfer is to drive expansion and growth of the Hitachi Group’s CIS
business and optimize the business structure in this field. Having concluded
an absorption-type corporate split agreement today, the two companies haveannounced matters that were undecided in the press release issued on
December 6, 2012, as follows. Changes to that press release ar e underlined.
*1 Car Information Systems (“CIS”): Systems for realizing a new automotive society for the next generation
combining ICT (Information & Communication Technology) services and solutions, and car information systems
incorporated with in-car information terminals such as car navigation systems.

1. Outline of the Corporate Split(1) Corporate Split Schedule
Execution of Corporate Split Agreement
Scheduled Corporate Split Date
(Effective Date)

February 22, 2013
April 1, 2013 (Tentative)* For Hitachi, the corporate split is deemed to be a simple absorption -type corporate split pursuant toArticle 796, Paragraph 3 of the Companies Act of Japan. And for Hitachi Automotive Systems , thecorporate split is deemed to be a short -form absorption-type corporate split pursuant to Article 7 84,Paragraph 1 of the Companies Act of Japan. Therefore, Hitachi and Hitachi Automotive Systems do notplan to convene shareholders’ meetings to obtain approval for the corporate split agreement.

- more --2-(2) Corporate Split Method
This is an absorption-type split in which Hitachi Automotive Systems is thetransferring company and Hitachi is the successor company.
(3) Details of Allotments Related to the Corporate Split
Hitachi will pay Hitachi Automotive Systems cash in the amount obtainedby deducting the equivalent carrying value of liabilities from the equivalent
carrying value of assets included in rights and obligations subject tosuccession on the day before the effective date of this corporate split.
(4) Handling of Stock Acquisition Rights and Bonds with Stock
Acquisition Rights Accompanying the Corporate Split
Hitachi Automotive Systems has not issued any stock acquisition rights orbonds with stock acquisition rights.
(5) Capitalization Changes Accompanying the Corporate Split
The corporate split will result in no change in capitalization of Hitachi.
(6) Succession of Rights and Obligations
Hitachi will succeed to all rights and obligations of Hitachi Automotive
Systems relating to the business to be transferred, including assets,
intellectual property, claims, obligations, the statuses under contract andlabor agreements with employees.
The succession of obligations by Hitachi from Hitachi Automotive Systems
will be carried out through the cumulative assumption of obligations, withthe burden of the obligations borne by Hitachi.
(7) Prospect on Fulfillment of Obligations
It is judged that there should be no problems in fulfilling all obligations thatshould be borne by Hitachi in the corporate split.

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2. Overview of the Business to Be Transferred(1) Businesses of the Business to Be Transferred
Car information systems business for automobiles such as the telematics
business(2) Business Results of the Business to Be Transferred
Revenues : 7,716 million yen (Year ended March 31, 2012)(3) Assets and Liabilities to Be Transferred ( As of March 31, 2013)(Millions of yen)
Category

Details

AmountAssets to beInventory, Tangible and Intangible assets,

1,462

transferredLong-term prepayments, etc.

Liabilities to beAdvances received, etc.

296-1,166

transferred
Net amountCautionary 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 notdirectly relate to any historical or current fact. Words such as “anticipate,” “believe,”“expect,” “estimate,” “forecast,” “intend,” “plan,” “project” and similar expressions whic hindicate future events and trends may identify “forward -looking statements.” Suchstatements are based on currently available information and are subject to various risks
and uncertainties that could cause actual results to differ materially from thoseprojected 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 thisdocument.
Factors that could cause actual results to differ materially from those projected orimplied in any “forward-looking statement” and from historical trends include, but a renot limited to:•

economic conditions, including consumer spending and plant and equipment inv estment in Hitachi’s major
markets, particularly Japan, Asia, the United States and Europe, as well as lev els of demand in the majorindustrial sectors Hit achi 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 inwhich Hitachi’s assets and liabilities are denominated, particularly against the U.S. dollar and the euro;•

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

uncertainty as to general market price lev els for equity securities, declines in which may require Hitachi to write
down equity securities that it holds;- more --4-•

the potential for significant losses on Hitachi’s inv estments in equity method affiliates;•increased commoditization of information technology products and digital media -related products andintensifying price competition for such products, particularly in the Digital Media & Consumer Products
segments;•uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technologies
on a timely and cost -effectiv e basis and to achiev e market acceptance for such products;•

rapid technological innov ation;•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 rev enue from sales;•fluctuations in the price of raw materials including, without limitation, petroleum and other materials, such ascopper, steel, aluminum, synthetic resins, rare metals and rare -earth minerals, or shortages of materials, partsand components;•fluctuations in product demand and industry capacity;•uncertainty as to Hitachi’s ability to implement measures to reduce the potential negativ e impact of fluctuationsin product demand, exchange rates and/or price of raw materials or shortages of materi als, parts andcomponents;•

uncertainty as to Hitachi’s ability to achiev e the anticipated benefits of its strategy to strengthen its Social
Innov ation Business;•

uncertainty as to the success of restructuring efforts to improve management efficiency by divesting orotherwise 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 Hita chi 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 thoserelated to electronics and da ta processing technologies;•

uncertainty as to the outcome of litigation, regulatory inv estigations and other legal proceedings of which theCompany, 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 serv ices 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 ev aluate 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 byHitachi.

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About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global
electronics company with approximately 320,000 employees worldwide.
Fiscal 2011 (ended March 31, 2012) consolidated revenues totalled 9,665
billion yen ($117.8 billion). Hitachi is focusing more than ever on the Social
Innovation Business, which includes information and telecommunication
systems, power systems, industrial, transportation and urban dev elopment
systems, as well as the sophisticated materials and key devices that support
them. For more information on Hitachi, please visit the company's website at
http://www.hitachi.com.
About Hitachi Automotive Systems, Ltd.
Hitachi Automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd.,
headquartered in Tokyo, Japan. The company is engaged in the development,
manufacture, sales and services of automotive components, transportation
related components, industrial machines and systems, and o ffers a wide
range of automotive systems including engine management systems, electric
power train systems, drive control systems and car information systems.
For more information, please visit the company's website at
http://www.hitachi-automotive.co.jp/en/.

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Information contained in this news release is current asof the date of the press announcement, but may be subject
to change without prior notice.
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