FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2004
Commission File Number 1-8320
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Hitachi, Ltd.
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(Translation of registrant's name into English)
6, Kanda-Surugadai 4-chome, Chiyoda-ku, Tokyo 101-8010, Japan
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F _________
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ________
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ________ No x
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________
This report on Form 6-K contains the following:
1. Press release dated January 26, 2004 regarding agreement on establishment
of joint venture with Omron.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Hitachi, Ltd.
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(Registrant)
Date February 27, 2004 By /s/ Takashi Hatchoji
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Takashi Hatchoji
Vice President and Executive Officer
FOR IMMEDIATE RELEASE
Hitachi and Omron Agree to Establish Joint Venture in
the Field of ATM's and Other Information Equipment
TOKYO, January 26, 2004 -- Hitachi, Ltd. (NYSE:HIT / TSE: 6501) and Omron
Corporation (TSE / OSE: 6645) today announced an agreement to establish a joint
venture combining their ATM and other information equipment businesses to
strengthen their capability to respond to the diversification and enhancement of
customer needs domestically, as well as strengthening the business structure in
China among other overseas growth markets.
Aiming for a globally competitive position, in an information equipment
market expected to see growth during the ubiquitous era, the new company will
fulfill broad customer needs by providing optimal solutions based on recognition
and handling technologies for cash, cards, passbooks, forms, etc. and other
human interface technologies that enable simple operation for customers and
end-users.
The joint venture company is scheduled to be established and commence
business on October 1, 2004.
Hitachi and Omron will take advantage of the joint establishment division
under the Commercial Code of Japan to create a company that will integrate the
total business of Hitachi's Ubiquitous Platform Group Mechatronics Systems
Division, such as ATM's among other self-service machines and terminal systems
together with the ATM and other self-service machines, modules and solutions
handled by Omron's Social Systems, Solutions, & Services Business Company and
Advanced Modules Business Company.
In the Japanese financial market, characterized by diverse and enhanced
services, user needs concerning safety and security are ever increasing. To that
end, financial institutions demand greater enrichment of customer services,
ATM's that can operate in a variety of different environments with a broad range
of services, and robust security and functionality.
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For instance, with the arrival of the ubiquitous era it is anticipated that
ATM's even in off-site locations will offer transportation reservation services
and public services among numerous non-financial related services in one place.
In China, meanwhile, recent expansion of the market-based economy has led
to a diversification of financial services. Moreover, financial infrastructure
development has escalated ahead of the 2008 Olympic games in Beijing and 2010
Shanghai World Expo. Under these circumstances, highly functional ATM's
utilizing technologies from both companies are anticipated to become widespread.
Hitachi and Omron initially formed an ATM joint development alliance in
2000. However, in response to the changes in the global business environment and
to take advantage of opportunities for market growth, they have reached an
agreement to expand the alliance by establishing a joint venture company. This
new company will not only combine the superior technologies of both companies,
but by building on a global scale a more efficient operation structure
incorporating everything from development to production, sales and maintenance,
they will be able to unleash each of their core strengths to the fullest extent
possible, thus satisfying broad customer needs.
Since the 1960's when Hitachi developed Japan's first online train seat
reservation system, the company has been expanding its business for
high-reliability online terminal systems that power essential operations at
stations and banks. In 1979, Hitachi made a full-scale entry into the online
terminal ATM business and has since expanded business-use terminals along with
solutions not only for operators but also consumers. Through this business
integration Hitachi will work to further strengthen its core machines and
modules, accelerate expansion of its solutions businesses utilizing these, and
strive for expansion in related businesses of the entire Hitachi Group,
including the new joint venture.
Over the past 30 years since it developed the world's first magnetic card
based cash dispenser in 1969, Omron has been expanding its ATM business.
Moreover, Omron has positioned itself as a leader in such fields as money
changing machines and card reader modules, expanding these businesses. Through
this business integration Omron will place all ATM and related businesses under
the control of the new company. Hereafter, Omron will continue to promote
expansion of the business and strive for long-term maximization of corporate
value.
The business integration announced today, aiming for greater expansion,
respects the business achievements of both companies and observes the spirit of
equality.
Because both companies are concerned about customer support and a smooth
launch, as far as management of the company and implementing an optimal
structure, it is anticipated that the post of chairman will be assumed by a
person from Hitachi and the post of president and CEO will be assumed by a
person from Omron. Regarding the ratio of investment, Hitachi will hold over
half of the shares granting it voting power, though the exact proportions will
be decided later.
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The location of the headquarters for the new company is expected to be in
Tokyo. Details of the new company will be discussed by both companies and
reported as soon as agreement is reached.
About Hitachi, Ltd.
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Hitachi, Ltd. (NYSE: HIT), headquartered in Tokyo, Japan, is a leading
global electronics company, with approximately 340,000 employees worldwide.
Fiscal 2002 (ended March 31, 2003) consolidated sales totaled 8,191.7 billion
yen ($68.3 billion). The company offers a wide range of systems, products and
services in market sectors, including information systems, electronic devices,
power and industrial systems, consumer products, materials and financial
services. For more information on Hitachi, please visit the company's Web site
at http://www.hitachi.com
About Omron Corporation
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Headquartered in Kyoto, Japan, OMRON Corporation is a global leader in the
field of automation. Established in 1933 and headed by President and CEO Hisao
Sakuta, Omron has more than 23,000 employees in over 35 countries working to
provide products and services to customers in a variety of fields including
industrial automation, electronic components, social systems (ticket gate
machines, ticket vending machines, ATM's, and traffic control), and healthcare.
The company is divided into five regions and head offices are in Japan (Kyoto),
Asia Pacific (Singapore), China (Shanghai), Europe (Amsterdam) and US (Chicago).
For more information, visit Omron's Web site at http://www.omron.com
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