Hitachi (TYO:6501) is considering selling its Japanese white goods business to sharpen its focus on social infrastructure and digital solutions, Nikkei reported Tuesday.
The group has approached potential buyers, including Samsung Electronics (KRX:005930), with a deal possibly valued at around 100 billion yen ($680 million) or more, according to the report.
The unit, Hitachi Global Life Solutions, posted sales of 367.6 billion yen in the year ended March, down 2%, while EBITDA rose 13% to 39.2 billion yen. Despite its brand value, the business is reliant on one-off sales and less aligned with Hitachi's Lumada IoT platform, which emphasizes recurring digital revenue, the report said.
Hitachi sold its overseas home appliance business to Turkey's Arcelik in 2021 and has since offloaded other non-core assets like Hitachi Metals. CEO Toshiaki Tokunaga said in June the group would continue restructuring to drive growth, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.