r&d strategy for true collective strengths · public utilities it solutions ・securities...

1© 2006 Hitachi, Ltd. All rights reserved.

Dr. Junzo KAWAKAMISr. Vice President & Executive OfficerGeneral Manager of the Research & Development GroupHitachi, Ltd.

Thursday, 13th April 2006

R&D strategy for true collective strengthsR&D strategy for true collective strengths


R&D for increased competitiveness of the Hitachi Group

1

R&D for growing business areas

2

3

Introduction

© 2006 Hitachi, Ltd. All rights reserved.

Contents


11 -1. Hitachi Group R&D Philosophy

Based on technology and collaborative creativity, direct the group’s R&D efforts towards satisfying customers in ways that contribute to the prosperity and safety of society.

Develop world-leading technologies that drive further growth of the Hitachi Group.

Create paradigm shifts in industrial technology with original ideas and an accurate understanding of social trends.


Inspire the NextInspire the NextCustomers ・ SocietyCustomers Customers ・・ SocietySociety

Core technology/products Core technology/products

IT platformIT platform

Group ManagementGroup Management

11

Full use of Group true Full use of Group true collective strengths to collective strengths to create optimal valuecreate optimal value

Social Social infrastructureinfrastructure

LifestyleLifestyleInfrastructureInfrastructure

Industrial Industrial InfrastructureInfrastructure

-2. True collective strengths foroptimal value

Power systems

IP networks

Railway systems

Water treatment and environmental systems

Integrated platform services

OutsourcingData centerInformation systems development・Financial/Distribution/

Manufacturing/Public utilities

IT Solutions・Securities・Traceability・Sensor-nets Funds, human resources, purchasing power,

IT infrastructure, R&D, etc.

Elevators/escalators & Urban solutions

Construction machinery and systems

Electric power toolAutomotive equipmentsystems

Car information systemsAdvanced device manufacturing equipment

Systems that fuse communications &broadcasting

Digital consumer setsMedical equipment, health care

Highly functional materialsSemiconductors, LCDs,HDDs

MotorsLogistic servicesFinancial services



1


2

3

Introduction


Contents


R&D structure R&D structure serving as a hubserving as a hub

Serving a global marketServing a global marketLow costLow cost

MONOZUKURIMONOZUKURItechnologytechnology

Technology platforms across the Hitachi GroupDeveloping core technologies for business developmentRotation of human resources

IncreasingHitachi Group

competitiveness

IncreasingHitachi Group

competitiveness

22 -1. R&D for increased competitiveness

Strengthen collaboration with overseas R&DGlobal development of superior technology

Development of global supply chain management (SCM)Strengthen basic manufacturing technologiesVertical collaboration within the Group


22PresidentPresident

Research & Development Gr.Research & Development Gr.

Central Research LaboratoryCentral Research Laboratory

Advanced Research LaboratoryAdvanced Research Laboratory

Hitachi Research LaboratoryHitachi Research Laboratory

Systems Development Lab.Systems Development Lab.

Mechanical Eng. Research Lab.Mechanical Eng. Research Lab.

Production Eng. Research Lab.Production Eng. Research Lab.

Design DivisionDesign Division

Intellectual Property Gr.Intellectual Property Gr.

R&D Laboratory / DivisionR&D Laboratory / Division

BusinessDivisionBusinessDivision

Development Cntr.

Dev. & Design Sectn.

Development Cntr.

Dev. & Design Sectn.

Combined management of corporate R&D and Group R&DTechnology Platform

s acrossthe H

itachi Group

Technology Platforms across

Technology Platforms across

the Hitachi G

roupthe H

itachi Group

Business groupsBusiness groupsOverseas R&D facilitiesOverseas R&D facilities

R&D personnel: 5,891

Hitachi Group R&D Labs(30 labs)

Hitachi Group R&D Labs(30 labs)

(as at 1st April 2006)

-2. R&D as a Hitachi Group hub


22Mechanical & Electrical Electronics Information

Fostering No.1 technologyImprove business competitiveness

Improve product competitiveness

Improve productivity

Development of service businesses

Reform of solution operations

Tech

nolo

gy P

latf

orm

Tech

nolo

gy P

latf

orm

ElectronicsEnvironment & EnergyNew materialsMedical &

BiotechnologyNanotechnology

OutsourcingEA*/SoA**/Initial stage consultingApplication of advantage

technology and devicesNew service methodologies

Fusing/ strengthening Group-wide core technologies and development of human resources

Service Science

Electron beam-based measurement

Non-destructive measurement

Product design support Optimal motor

development

Solution LSIsEfficient systems developmtPlatformingProject managementOptimal inverter

development

Embedded SystemsDigital EngineeringMaterials

March2005

Coop

erat

ive

Crea

tion

with

Cu

stom

ers

（Lab.

Ope

n-D

ays)

From2002

uVAL

UE

Inno

vatio

n Ce

nter

Oct. 2005

Embe

dded

Sys

tem

s Pl

atfo

rm T

echn

olog

y La

bora

tory

April2005

Mat

eria

ls R

esea

rch

Labo

rato

ry

March2004

April2004

Adv.

Mea

sure

men

t &

Ana

lysi

s Ce

nter

April2004

*EA: Enterprise Architecture**SoA: Service Oriented Architecture

Purpose

Details

-3. Technology Platforms across the Hitachi Group

Mec

hani

cal

Inno

vatio

n Ce

nter

Mec

hani

cal

Inno

vatio

n Ce

nter

Adva

nced

Des

ign

Sim

ulat

ion

Cent

er

Mot

or I

nnov

atio

n Ce

nter

Oct.2005

Inve

rter

In

nova

tion

Cent

er

April2006


22

Broadband PCBroadband PC

HDD/DVDHDD/DVDappliancesappliances

Flat panel TVFlat panel TV

Car navigationCar navigation& Telematics& Telematics

Embedded Systems Platform Laboratory (Personnel: approx. 120)Embedded Systems Platform Laboratory (Personnel: approx. 120)

Terrestrial digital broadcastingAdvanced navigationHuman machine interfaces

Development of Leading TechnologyDevelopment of Leading Technology

Improved quality & productivityDevelopment methodology

& process innovations

Development of production technologyDevelopment of production technology

Digital Digital consumer appliancesconsumer appliances

Car information Car information systemssystems

Improve competitiveness & productivity in electronics area

Embedded software

Medical Medical diagnostic diagnostic equipmentequipment

SemiconductorSemiconductorMfg. EquipmentMfg. Equipment

AutomotiveAutomotiveequipmentequipment

TransportationTransportationsystemssystems

-4 Embedded Systems Platform Lab.

AVAV・・CIS common platformsCIS common platforms(System on chip)(System on chip)


22Realize data management functions using embedded RDBIncrease development speed of embedded software

Dramatic improvement in productivity of the data management portion

HDDBoardApplication

Entier Current model

Current model

Next modelNext

model

• Simple description using SQL

• Concentrate on development of core applications

Complex logic for data managementB

efor

e

SQL processing

DBMS engine

Device driver Map dataImage data

New data handling functions easily added

Core application

Former modelFormer model

DBMS: Data Base Management System

-5. Increasing production efficiency of embedded software

Aft

er in

trod

uct

ion

• Easily adapted to new data management


Admission control

Finger vein authentication technology

MatchingMatching

Near infra-red light image

Verified registered vein pattern

ATM authorization

22

Finger vein authentication Equipment (FY 2004)

Bank ATM (FY 2005)Hitachi Engineering& Services Co.,Ltd. Hitachi-Omron Terminal

Solutions, Corp.

Safety deposit box management systemSafety deposit box management systemThe Mie Bank, Ltd., The Hokuetsu Bank, Ltd., The Keiyo Bank, Ltd., Fukuoka Shinkin Bank

Finger vein authentication ATMFinger vein authentication ATMSumitomo Mitsui Banking Corporation

am/pm (＠ＢΛＮＫ), Bank of Kyoto, Ltd.,

The Juroku Bank, Ltd.,The Joyo Bank, Ltd.,

The Bank of Fukuoka, Ltd.,The Daisan Bank, Ltd.,

The San-in Godo Bank, Ltd.,The Kyoto Shinkin Bank,

The Eighteenth Bank, Limited, etc.

Office admission control systemOffice admission control systemFukoku Mutual Life Insurance Company head office,

NIWS Co., Ltd. head office, System Banking Kyushu Kyodo Center,

Hitachi Tower - Singapore, etc.

-6.Business development based on core superior technology (1)


Compact finger vein authentication tech (Oct. 2005)

Volume: 19cc

39mm(d)×34mm(w)×15mm(h)

Grip-type finger vein authentication tech. (Oct. 2005)

PC with ID unit embedded (Dec. 2005 product released)

Door handle model

22Awarded

2005 (48th) Ten Great New Products Award – Nippon Brand Prizeby The Nikkan Kogyo

Shimbun Ltd.(Jan. 2006)

Exhibited at the 39th Tokyo Motor Show(22nd Oct. – 6th Nov. 2005)

Business development based on core superior technology (2)

Awarded 2006 (38th) Ichimura Prizes in Industry -

Meritorious Achievement Prize

by The New Technology Development Foundation

(April 2006)

-6.


22Rotation of personnel within the Hitachi Group

Training and use of employees to contribute to Hitachi Group businesses

Business Group&

Hitachi Group company

Overseas research

collaborations

Foster HRFoster HR

R&D Group

Universities & other research organizations FosterFoster

Effective Effective use of HRuse of HR

Secure HRSecure HR0

50

100

150

200

Business Gr./Hitachi Gr. ⇒ Lab.Lab. ⇒ Business Gr./Hitachi Gr.

(estimate)

(No.

of

pers

onne

l)

FY2004 FY2005 FY2006

-7. HR rotation within the Hitachi Group

HR: Human resource


　

Lead Hitachi Group reform movement

Laboratories

Power & Industrial systems

Power & Industrial systems

Highly function materials & components

Highly function materials & components

Digital media & Consumer

products

Digital media & Consumer

products

Logistics, Services & Others

Logistics, Services & Others

FinancialservicesFinancialservices

Hitachi Group (Business divisions, Group companies)

22

Monozukuri Engineering Division,

Corporate Environmental Policy Division, Corporate Quality Assurance Division

Electronicdevices

Electronicdevices

Information & Telecommunication

Systems

Information & Telecommunication

Systems

Develop MONOZUKURI technology

-8. Strengthening MONOZUKURI

Coordination

Corporate Divisions

Central Research Lab., Hitachi Research Lab., Systems

Development Lab., Mechanical Engineering Research Lab.,

Production Eng. Research Lab., Adv. Research Lab.


　

MONOZUKURI concept

Key technologies

Sale

Processing/Molding Testing & Measurement

Materials & Process Assembly etc.

CustomerSupplier

Market

Plan

Manufacture

Develop

Design

MONOZUKURI for No. 1 products１High reliability & high yield

Strengthening global business platform2

Reform through establishing WW-TSCM

Strengthening MONOZUKURI core technologies3

New materials development & simulation technologies

Realization of high quality & low costRealization of high quality & low cost

Vertical start-up of new lines & stable production

Recycling within the Hitachi Group (waste material raw material)

22

WW-TSCM: World Wide Total Supply Chain Management

-9. MONOZUKURI Concept & Policies

Purchase

Mounting/Connections


22

Open innovationAcademia-industry

collaborations

“TOKKEN ” special research project to

develop high quality, highly reliable new

products(Collaboration between business divisions and

laboratories)

Market

Plan

Manufacture

Develop

Design

PDP（ALIS）

HDD(PerpendicularMagnetic Recording)

Automotive Parts(Electric power train)

Vertical start-upof new lines

Stable production

High reliabilityHigh yield

Targets

HDD(MONOZUKURI)

Production systems

• Collaboration within the Hitachi Group using Tokken　(Hitachi GST & Central Research Laboratory, Production Engineering Research Laboratory)

• National & international academia-industry collaborations

Highly reliable

materials

FrameworkTechnology

-10. MONOZUKURI for core products


22High temperature lead-free solder

Low temperature anodic bonding technology

2005 Environment PrizeMinister of the Environment/ Merit Award

(Hitachi Environment Foundation/Nikkan Kogyo Shimbun, Ltd.)

Simulation

Software productivity

Materials & Process

Measurement technology & embedded systems

Production technology & Management systems

MONOZUKURI Technology

MEMS processed silicon wafer

Glass

Anode junction

（200℃）

Implemented under the Hitachi Group Platform Research scheme

Seal

-11. Strengthening core MONOZUKURI technologies

Material to　be connected

Sold

ered

join

t

Cu-Sn Compound

Cu

Sn

JIEP outstanding presentation prize(March 2006, Japan Institute of Electronics Packaging (JIEP)

Material to　be connected


22Flat-panel TV

LCDsIPS Alpha

Technology Ltd.*

LCDsLCDsIPS Alpha

Technology Ltd.*

TunersHitachi Media Electronics

Co., Ltd.

TunersTunersHitachi Media Electronics

Co., Ltd.

Driver ICs, LSIsRenesas Technology Corp.*

Driver ICs, LSIsDriver ICs, LSIsRenesas Technology Corp.*

PDPsFujitsu-Hitachi

Plasma Displays Limited

PDPsPDPsFujitsu-Hitachi

Plasma Displays Limited

Display-related materialsHitachi Chemical Co., Ltd.,

Hitachi Metals, Ltd.

DisplayDisplay--related materialsrelated materialsHitachi Chemical Co., Ltd.,

Hitachi Metals, Ltd.

High performance panel technologyHigh reliability & high yield technology

User interfaces technologyStructural & cooling technology

Technology platforms

* equity-method affiliate company

HDD/DVD Recorder

HDDsHitachi Global Storage

Technologies, Inc.

HDDsHDDsHitachi Global Storage

Technologies, Inc.

DVD driversHitachi-LG Data

Storage Korea, Inc.

DVD driversDVD driversHitachi-LG Data

Storage Korea, Inc.

-12. Technology as axes for vertical integration within the Hitachi Group


R&D formation & fortified alliances for expanding global business

22

<40><25>

<80>

HDD

<5>

Quantum communicationsOrganic electronicsAutomotive systems Storage network solutions

Car information systemsWide area broadband comm. systems

IP networksHome networksDigital TVsAdv. software

<100>

Next-generation HDDNew HDD applications

Hitachi Europe Ltd. (Europe) Hitachi America, Ltd. (U.S.)

Hitachi (China) Research & Development Corporation

Hitachi Asia Ltd. (Singapore) Hitachi Global Storage Technologies, Inc.

SanJose Lab.

-13. Global R&D Network

R&D Organization<R&D Personnel>Main Research Themes

Dec. 2005: Established Shanghai Research Institute

Oct. 2005: Established Automotive R&D Lab.In Munich and Paris

April 2005: Established Storage Mechanics Lab.


22

Beijing

Shanghai

Xian

2004 Hitachi ExhibitionBeijing, Shanghai, Guangzhou

(Oct. – Nov. 2004)

Major locations of Hitachi business groups

& Group companies

FY 2004: 800FY 2006: 1,000 (estimate)

R&D personnel in China (incl. planning, design & development)

-14. R&D for business in China

Guangzhou

Research personnel by business segment(FY 2004; incl. planning, design & development)

Information & telecommunication

systems36%

Power & industrial systems

36%

Electronic devices

2%

Digital media & consumer

products20%

High function materials & components

6%


22Storage solutions

Rail carriages & systems• Virtual storage providing optimal

systems realized in the mid-range class (July 2005)

NAS* functionality securing sustained business achieved in the

mid-range class(Nov. 2005)

Order received for high-speed carriages for the British CTRL service commencing

2009 (June 2005)

Commercialization of embedded databases for HDD car navigation

(July 2005)

**Channel Tunnel Rail Link *Network attached storage

-15. Superior technology forthe global market (1)

Car navigation systems


22Explosives trace detection systems

US Transportation Security Administration (TSA) certification

(July 2005)(First non-U.S. company to receive certification)

Ministry of Land, Infrastructure and Transport

New guideline for security countermeasures

(April 2006 full enforcement)Mass spectrometry technology

Order received from Yusen Air & Sea Service Co., Ltd.

(Feb. 2006)

Superior technology forthe global market (2)

Ion source

Collection of explosives

HeatM: Molecule of explosive

Transport ions

Vacuum

Mass spectrometer(3D-quadrupole mass

spectrometry)

Detector

-15.



1


2

3

Introduction


Contents

24© 2006 Hitachi, Ltd. All rights reserved.CIS: Car information systems PCB: Printed circuit boards 3PL: Third party logistics

33Creation of core businesses for Hitachi Group growth

Information & Information & communication communication systemssystems

Electronic Electronic devicesdevices

Power & Power & industrial industrial systemssystems

Digital media Digital media & consumer & consumer

productsproducts

Logistics Logistics servicesservices

-1. Promotion of Inspire A businessesB

usi

nes

ses

expa

nsi

onA

reas

to

fost

er

• Storage solutions• HDDs• Wide area access

networks• Consulting• Outsourcing

• Semiconductor/ LCD manufacturing equipment

• LCD displays• Medical diagnostic

systems (image diagnostics, diagnostic testing equipment)

• Industrial semiconductors

• Next-generation networks

• Finger vein authentication systems

• RFID solutions• Sensor Net &

Positioning information

• Coal-fired thermal power plants

• Urban development systems

• Transportation systems

• Automotive systems(Engine systems, CIS, drive control)

• Total clean systems

• 3PL• Wooo World• All-electricity

• Materials for semiconductor packaging processes

• High function multi-layer material

High functional materialsHigh functional materials

• Adv. medical equipment

• Electric power train (inc. Li ion batteries)

• PCB manufacturing equipment

• Electric operation of construction machinery


33Uncompromising pursuit of high picture quality by integrated panel/set development

High-definition vertical display of 1,080 pixelsFujitsu-Hitachi Plasma Displays Limited

Ubiquitous Platform Group

High performance video imaging using ”double speed super impulse display”

IPS Alpha Technology Ltd.*

1080 ALIS panel IPS α panel

Wooo World High-definition TV High quality video processing

「●Rec for plasma」　　「●Rec for LCD」Ubiquitous Platform Gr.,

Hitachi Global Storage Technologies, Inc. (Announced 4th April 2006)

←Previous

100% real display of high definition broadcasting signals (vertical)

Total 1.110,000 pixels

Picture master HDPicture master HD

High resolution engine for a fully high-definition generation

max. 16 bit processing

-2.

* equity-method affiliate company

Superior technology in the Wooo World (1)

New →Double the Double the number of number of

framesframes


33

7 tuners for simultaneous double recordingUbiquitous Platform Group, Hitachi Global Storage Technologies, Inc.,

Hitachi LD Data Storage Korea, Inc.

High-definition HDD/DVD recorder

“Deji-deji niko tori”(simultaneous recording (simultaneous recording

of 2 highof 2 high--definition definition programs)programs)

1 1 TB high capacity HDDTB high capacity HDD(128 hrs. high(128 hrs. high--definition definition

recording)recording)

Replay digest

Shoot! Goal!

90 min. game5 min. replay of

not-to-be missed moments

Sensational moment!

Superior technologyin the Wooo World (2)

(Announced 4th April 2006)

Uncompromising pursuit of high functionality to provide “convenience” & “fun”

“Ii-tokomi”

High-definition extended recording

1 TB HDD for high capacity extended recording

-2.


33

300Vbattery

DC/DCconverter

Electrical brakes

Millimeter-wave radar

Groundspeed sensor

Image processing camera

42Vbattery

Vehicle LAN

MotorElectrical steering

High-efficiency transmission

Inverter Integrated control• Vehicle stability

control• Energy management

Integrated control• Vehicle stability

control• Energy management

HEV technologyIntegrated electrical control technology

Key devices & componentsKey devices & components

High power density rechargeable battery

Lithium-ion battery

HEV: Hybrid Electric Vehicle IGBT: Insulated Gate Bipolar Transistor

Display

Devices for inverters

Direct water-cooling IGBT module

High voltage IC

Base of module

Cross section of motor

MagnetGap

Iron

-3.Superior technology of in the electric powertrain

High efficiency motors


33

Emergency patients, accidents, status of missing persons at

disaster sitesNatural disaster

surveillance

City disaster surveillance

Disaster prevention

centerPlant & facilities

emergency surveillance & management Emergency

response

Environmental control for agriculture and

fisheries, etc.

A compact wireless sensor node connecting various items in the real world with the IT

network

6.9cm3

World’s smallest sensor node

(Joint development by YRP Ubiquitous Networking

Laboratory and Hitachi R&D)(Nov. 2004)

-4. Superior technology in the Sensor Net (1)

From data input by people to automatic collection of data from sensor-nodes in the environment

Constructions deterioration surveillance


33５月２４日リリース　Wristband-type sensor node (announced April 2005)

Sensor Net & UWB radio transmission (announced Oct. 2005)

• 10Mbps for 10m distance• 30cm positioning accuracy• Min. power consumption of

3 nanoW/bps

Superior technology in the Sensor Net (2)

Data transfer speed (Mbps)

100101

10

100

1,000IEEE802.11b

BluetoothTM(*2

)

IEEE802.11a

Zigbee(*1)

0.10.01

Weak

radio waves

IEEE802.11n

For Sensor Net(sensed data, etc.)

UWB

For multimedia(video, music, etc. ）

[mW]

Pow

er C

onsu

mpt

ion

Prototype transmission RF-IC fabricated (Min. power consumption 3 nanoW/ bps)

Transmission Circuit(approx. 1mm2）

Family

Customer CenterInternet

Image of home life-support service for the elderly

Healthmonitor

Confirm well-being

Health management

Homeserver

Securityequipment

NetTV

SphygmomanometerScalesUser

Wristband-type sensor node (prototype)

Lifestyle-support

-4.

Monitoring human movement andpulse with radio transmission


33５月２４日リリース　Brain function measurement DNA analysis

Optical TopographyOptical Topography

Hideaki KOIZUMIHitachi Fellow

DNA sequencerDNA sequencer

High-speed DNA sequencer

Hideki KAMBRAHitachi Fellow

April 2005

Compact DNA analysis equipment

-5. Superior technology in medical diagnostic systems

Optical Topography image of brain activity following alcohol intake (Left: high-activity ALDH2, Right: low-activity ALDH2)

100a%

-100%

Changes in brain activity observed

DNA bands

Laser beam

Sheath-flow

Gel-filled capillaries

Fluorescence


Research Personnel at Laboratories & Development Centers (as of 1st April)

SupplementaryNotes R&D Group Quick Facts

(billion JPY)

FY 2004 FY 2005 (estimate)

404

9,027

279

4.44.3

9,220

240

(1)

(2) R&D expenditure

Revenue

Operating income

%R&D of Revenue (2)/(1)

Group Companies

Hitachi, Ltd.

248 (64%)

Business Groups

Corporate Laboratories 64 (17%)

76 (20%)

Group Companies

Hitachi, Ltd.　

5,595

FY 2004 FY 2005 FY 2006 (estimate)

5,694Total

3,548

2,0473,5972,097

5,891

3,7152,176

389


Thank youThank you


Cautionary 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 not directly relate to any historical or current fact. Words such as “anticipate,” “believe,” “expect,” “estimate,” “intend,” “plan,” “project” and similar expressions which indicate future events and trends are used to assist readers in identifying these “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 on 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 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:

rapid technological change, particularly in the Information & Telecommunication Systems segment and Electronic Devices segment;uncertainty as to Hitachi’s ability to continue to develop and market products that incorporate new technology on a timely and cost-effective basis and to achieve market acceptance for such products;fluctuations in product demand and industry capacity, particularly in the Information & Telecommunication Systems segment, Electronic Devices segment and Digital Media & Consumer Products segment;increasing commoditization of information technology products, and intensifying price competition in the market for such products;fluctuations in rates of exchange for the yen and other currencies in which Hitachi makes significant sales or in which Hitachi’s assets and liabilities are denominated, particularly between the yen and the U.S. dollar;uncertainty as to Hitachi’s ability to access, or access on favorable terms, liquidity or long-term financing, particularly in the context of limited credit availability currently prevailing in Japan;uncertainty as to Hitachi’s ability to implement measures to reduce the potential negative impact of fluctuations in product demand and/or exchange rates;general economic conditions and the regulatory and trade environment of Hitachi’s major markets, particularly, the United States, Japan and elsewhere in Asia, including, without limitation, continued stagnation or deterioration of the Japanese economy, or direct or indirect restriction by other nations on imports;uncertainty as to Hitachi’s access to, and ability to protect, certain intellectual property rights, particularly those related to electronics and data processing technologies;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; anduncertainty as to general market price levels for equity securities in Japan, declines in which may require Hitachi to write-down equity securities it holds.

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.

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