Hitachi eyes expansion in Phl

MANILA, Philippines - Japanese multinational engineering and electronics company, Hitachi Ltd., is eyeing to expand its presence in the Philippines in various aspects of business.

These include social infrastructure and urban development such as transportation, elevators and escalators and home appliances comprising of mainly high-end products, the company said in a report.

Furthermore, the company intends to continue to utilize the Philippines, which has many English speakers, for the human resource needs of its business in the region.

In a report, Hitachi said it is forward-looking regarding the future of the company as its announced the progress of its 2015 Midterm Management Plan which focuses on achieving growth and corporate transformation driven by the further promotion of Hitachi’s Social Innovation Business.

The Japanese conglomerate said its global strategy would focus on amplifying its business in North America and China, and increasing the overall profit in Asia.

Part of Hitachi’s plan is to evolve the Hitachi Smart Transformation Project to develop cash-generating capabilities. The project is expected to generate an estimated amount of ¥400 billion by 2015 from the ¥75 billion in 2012.

“Hitachi is continuing initiatives to deliver revenues and profits by expanding the products and services businesses as well as expanding the Social Innovation Business globally,” the company said in its report.

Through the Social Innovation Business, Hitachi hopes to provide total solutions for sustainable, urban development worldwide and to address critical global issues such as the need for creating and improving the transportation infrastructure in urban areas, improving access to clean water and developing technologies that promote a smooth and efficient transition.

Hitachi has already began its Social Innovation Business in many parts of the Association of Southeast Asian Nations (ASEAN) and implemented some of its projects in the region.

For instance, the company is supplying equipment for an ultra-super critical coal-fired thermal power plant in Malaysia. In order to achieve world-class efficient power generation, Hitachi focuses on its sophisticated technological capabilities.

Moreover, Hitachi aims to boost their sales through their competitive products such as data storage, medical systems, construction machinery, wind power generation, inverters, pumps and motors. Part of the company’s plan is to develop new products that would meet the needs of the society and the consumers and to further enhance competitiveness with overseas expansion of operations and management.

The Tokyo-based company is confident that the steady and continuous implementation of the 2015 Midterm Management Plan would achieve further growth until 2015 and beyond. – With reports from Louise Maureen Simeon