Hitachi Mulls Selling Domestic Large Household Appliances Business; Company Continuing Restructuring Efforts
The move is seen as part of the company's restructuring efforts, which are aimed at concentrating resources around core infrastructure businesses, such as electric power and railways, and growth businesses, such as information technology services for companies.
The home electronics maker Hitachi Global Life Solutions, Inc., a subsidiary of Hitachi, deals with refrigerators, washing machines and other major household appliances. The company reported sales of ¥367.6 billion in its financial results for the fiscal year ending March 2025.
In 2021, Hitachi established a joint venture with Turkey's Arcelik A.S. to target major home appliance markets overseas and transferred the business to it.
While major household appliance businesses have the potential to enhance a company's brand strength, the market in Japan is expected to plateau due to the country's aging population and low birth rate. Hitachi is reportedly considering multiple companies as candidates to sell the business to, including a South Korean firm, but negotiations may prove challenging.
Hitachi has sold subsidiaries and affiliated companies in the past, such as Hitachi Metals, Ltd. and Hitachi Transport System, Ltd. (present Logisteed, Ltd.) Last year, it announced its withdrawal from home air conditioner production, in line with its strategy of project selection and concentration.
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