Hitachi to Post Extraordinary Items on Unconsolidated Basis for the First Half of Fiscal 2006.TOKYO -- Hitachi, Ltd. (NYSE NYSE See: New York Stock Exchange :HIT) (TOKYO:6501) today announced that it plans to post certain extraordinary items on an unconsolidated basis for the first half of fiscal 2006, ended September 30, 2006. Hitachi plans to post extraordinary gains of approximately 17.8 billion yen from the sale of investments in securities as a part of the Company's asset management policy. Hitachi will post an extraordinary loss of approximately 64.8 billion yen in restructuring charges restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. as an allowance for doubtful receivables relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc an advance to subsidiary experiencing a downturn in business performance. Also, Hitachi will post an extraordinary loss of approximately 12.5 billion yen in impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. losses on certain subsidiary and affiliated company shares and investments. Hitachi, Ltd., (NYSE:HIT) (TOKYO:6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 356,000 employees worldwide. Fiscal 2005 (ended March 31, 2006) consolidated sales totaled 9,464 billion yen ($80.9 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . For more information on Hitachi, please visit the company's website at http://www.hitachi.com. |
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