FOR IMMEDIATE RELEASE

Hitachi Announces Revisions of Consolidated
Business Forecasts for Fiscal 2011
Tokyo, March 15, 2012 --- Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced revisions
to the Company’s consolidated business forecasts for fiscal 2011, year ending March 31,
2012, which were announced on February 2, 2012, in light of recent business performance.
Revisions of Consolidated Business Forecasts for Fiscal 2011
(from April 1, 2011 to March 31, 2012)(Millions of yen)

Revenues

OperatingincomeIncome before
income taxes

Net income

Previous forecast (A)9,500,000

400,000

410,000

280,000

Net income
attributable toHitachi, Ltd
200,000

Revised forecast (B)9,500,000

400,000

490,000

360,000

280,00000

80,00080,00080,000

0.0

0.0

19.5

28.6

40.0

9,315,807

444,508432,201

303,126

238,869(B)-(A)% change
Fiscal 2010
ended March 31, 2011

Reasons for Revisions
Income before income taxes, net income and net income attributable to Hitachi, Ltd. for theyear ending March 31, 2012 are projected to exceed the previous forecasts Hitachi announced
on February 2, 2012. The main reason was the increase of a gain on sales for the transfer ofHitachi’s hard disk drive business to Western Digital Corporation completed on March 8, 2012
compared to its estimation in the previous forecasts.
Hitachi does not change its previous forecasts for revenues and operating income.

Cautionary Statement
Certain statements found in this document may constitute “forward-looking statements” as defined in theU.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-lookingstatements,” 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:- more --2-•

economic conditions, including consumer spending and plant and equipment investment in Hitachi’smajor 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 in Japan, 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 andintensifying price competition for such products, particularly in the Components & Devices and theDigital Media & Consumer Products segments;•

uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate newtechnologies on a timely and cost-effective basis and to achieve market acceptance for suchproducts;•rapid technological innovation;•the possibility of cost fluctuations during the lifetime of, or cancellation of, long-term contracts forwhich 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 shortagesof 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 offluctuations in product demand, exchange rates and/or price of raw materials or shortages ofmaterials, 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 divestingor otherwise exiting underperforming businesses and to strengthen competitiveness and other 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 incommercial and business customs including, without limitation, contract terms and conditions andlabor 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 ofwhich 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 in Japan by earthquakes, tsunamis or other natural
disasters, including the possibility of continuing adverse effects on Hitachi’s operations as a result of- more --3-

the earthquake and tsunami that struck northeastern Japan on March 11, 2011;•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 Hitachi’s periodic
filings with the U.S. Securities and Exchange Commission and in other materials published by Hitachi.

About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global
electronics company with approximately 360,000 employees worldwide. Fiscal 2010
(ended March 31, 2011) consolidated revenues totaled 9,315 billion yen ($112.2 billion).
Hitachi will focus more than ever on the Social Innovation Business, which includes
information and telecommunication systems, power systems, environmental, industrial andtransportation systems, and social and urban systems, as well as the sophisticatedmaterials and key devices that support them. For more information on Hitachi, please visit
the company's website at http://www.hitachi.com.

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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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