Hitachi to mull US$640 million stake sale in machinery firm
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Hitachi is considering selling approximately 8% of its shares in Hitachi Construction Machinery for around US$640 million. This decision follows the expiration of a 180-day lockup period. After the sale, Hitachi's stake will decrease to about 10%. The company is divesting assets to concentrate on core businesses like IT services and energy, reflecting a broader trend in corporate Japan. Block trades are becoming more popular in Japan as companies seek efficient ways to manage holdings, with record levels reported last year.
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