<div id="readability-page-1"><div><p><span>Hitachi is moving further into portfolio streamlining as the Japanese industrial electronics maker looks to sell a significant portion of its remaining stake in Hitachi Construction Machinery (HTCMF). People familiar with the matter said Hitachi was looking to offload about 8% of Hitachi Construction Machinery shares through block trades, with one person indicating the amount could be around 100 billion based on the machinery company's market value. Deal terms seen by Bloomberg News later showed Hitachi offering 17.6 million shares at 5,062 to 5,171 each, a 5% to 7% discount to Tuesday's closing price, with the sale worth as much as 91 billion. The transaction could be announced as soon as Tuesday, according to the people, while BofA Securities, Daiwa Securities and JPMorgan are acting as joint bookrunners, according to the termsheet.</span></p><p><span>The possible sale comes shortly after Hitachi's previous block trade in November and follows the expiration last week of a 180-day lockup that had restricted additional share sales. If completed, the disposal would reduce Hitachi's stake in Hitachi Construction Machinery to about 10%, marking another step in the company's broader shift toward core businesses such as IT services and energy. Hitachi has already been trimming assets as part of that repositioning, and its exit from loss-making operations has been viewed as part of corporate Japan's wider transformation. The company also agreed last month to sell its home appliances business to electronics retailer Nojima Corp., adding another sign that management is continuing to simplify the portfolio.</span></p><p><span>For investors, the deal could be another reminder that large Japanese companies are moving more quickly to unwind legacy holdings as pressure grows around capital efficiency and cross-shareholdings. Hitachi Construction Machinery shares dropped as much as 8.7% before paring losses to close down 4.1% in Tokyo, while Hitachi slipped 0.4%. Representatives for both Hitachi and Hitachi Construction Machinery were not immediately available to comment. The broader backdrop is also important: block trades have been gaining traction in Japan as companies look for quicker and more flexible ways to sell holdings, with such transactions reaching at least 1.4 trillion last year, the highest level on record in Bloomberg-compiled data going back to 2002.</span></p></div></div>

6501

6305

<p>Hitachi plans to sell about 8% of its stake in Hitachi Construction Machinery, valued at up to 91 billion yen, through block trades. The sale, which could be announced soon, follows a previous trade and the end of a lockup period. This move is part of Hitachi's strategy to streamline its portfolio and focus on core businesses like IT services and energy. The company's shares have seen a decline, reflecting broader trends in Japan's corporate landscape towards capital efficiency and asset liquidation.</p>

GuruFocus

Hitachi,Ltd.

Hitachi Construction Machinery Co., Ltd.

Hitachi

Hitachi Metals, Ltd.

Hitachi Zosen Corporation

Bank of America

Daiwa Securities Group Inc.

JPMorgan Chase

Nojima Co Ltd

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

Hitachi Plans 91 Billion Stake Sale As Machinery Shares Drop