Hitachi, Ltd. · TSE:6501

Hitachi — Hitachi Ltd Ord — FY2025 Earnings Presentation

45 slides from Hitachi's earnings presentation, Apr 27, 2026

  1. Slide 1: Outline of Consolidated Financial Results for the Year Ended March 31, 2026

    Outline of Consolidated Financial Results for the Year Ended March 31, 2026 [Fiscal 2025] Hitachi, Ltd. Senior Vice President and Executive Officer, CFO Tomomi Kato April 27th, 2026 ©Hitachi, Ltd. 2026. All rights reserved

  2. Slide 2: Contents

    Contents 1. Key Messages 2. FY2025 Results 3. FY2026 Forecast 4. Performance by Business Segment 5. Lumada Business Appendices 2 ©Hitachi, Ltd. 2026. All rights reserved

  3. Slide 3: Performance Highlights

    Performance Highlights 1. FY2025 Results ✓ Revenue and profit increased, driven by Power Grids business (Energy), Japanese IT business (DSS), and Rail Control business (Mobility) ✓ Adj. EBITA, Net Income, and Core FCF reached record highs. Adj. EBITA margin improved by 1.3 pts, due to profitability

  4. Slide 4: Segment Highlights FY2025

    Segment Highlights FY2025 Revenue YoY Adj. EBITA YoY DSS 2,940.0 bn yen +4% 450.0 bn yen +55.9 bn yen Front/IT Services: Domestic DSS revenue increased YoY +7%, driven by the expansion of the domestic DX and modernization business, including the Lumada business Storage: Revenue decreased due to cust

  5. Slide 5: Segment Highlights FY2026

    Segment Highlights FY2026 Revenue YoY Adj. EBITA YoY DSS 3,190.0 bn yen +4% 500.0 bn yen +22.8 bn yen SI & Services/Engineering & Services: Expansion of domestic DX and modernization business including Lumada business, and deployment of AI utilization (expansion of service businesses utilizing domai

  6. Slide 6: Impact of the Middle East Situation

    Impact of the Middle East Situation (As of April 27, 2026) ✓ While some production process delays and other issues have occurred in the Middle East, the impact at the moment is limited ✓ Only the direct impacts on Q1 currently anticipated are factored into the forecast ✓ The Middle East situation re

  7. Slide 7: DSS: FY2025 Achievements and Future Growth Strategy

    DSS: FY2025 Achievements and Future Growth Strategy FY2025 Achievements Future Growth Strategy Sector Total Achieved record-high profit (Adj. EBITA margin: 15.3%) Sector Total ✓ Contribution to the Hitachi Group: Front Business Solid momentum continues for DX/modernization in Japan Lead digitalizati

  8. Slide 8: The Business of Hitachi Energy

    The Business of Hitachi Energy ✓ Continue to drive revenue growth through capacity expansion(FY23-25 CAPEX $2.6bn) to address the long-term up-ward trend in order backlog. Continued strong market outlook to achieve a CAGR of 13-15% (FY24-FY30) ✓ Acquired a minority stake in Shermco, a leading provid

  9. Slide 9: Acceleration of Initiatives to Enhance Enterprise Value

    Acceleration of Initiatives to Enhance Enterprise Value ✓ Steady implementation of measures to improve capital efficiency ✓ Execution of shareholder returns based on the existing capital allocation policy (Return-focused, flexible and balanced capital allocation between growth investments and shareh

  10. Slide 10: Contents

    Contents 1. Key Messages 2. FY2025 Results 3. FY2026 Forecast 4. Performance by Business Segment 5. Lumada Business Appendices 10 ©Hitachi, Ltd. 2026. All rights reserved

  11. Slide 11: FY2025 Highlights

    FY2025 Highlights Consolidated Total Billions of yen Revenue 10,586.7 YoY [YoY excl. FX impact] +8% [+7%] Actual FX rate (Average) Adj. EBITA 1,311.4 FY24 : 153 YEN/USD and 164 YEN/EURO YoY +227.9 FY25 : 151 YEN/USD and 175 YEN/EURO Adj. EBITA margin 12.4% YoY +1.3 pts Net income attributable​ to Hi

  12. Slide 12: Breakdown of YoY Changes in Revenue and Adj. EBITA in FY2025

    Breakdown of YoY Changes in Revenue and Adj. EBITA in FY2025 Billions of yen [YoY +7%] [YoY +8%] 9,783.3 +661.9 10,445.2 +141.5 10,586.7 Revenue ⊕ Power Grids(Energy) ⊕ Front Business (DSS) ⊕ Mobility FY24 Energy・DSS・ エナジー・DSS・他 小計 Foreign 為替影響 FY25 FY24 Others Subtotal Exchange FY25 Adj. EBITA marg

  13. Slide 13: Breakdown of YoY Changes in Net Income and Core FCF in FY2025

    Breakdown of YoY Changes in Net Income and Core FCF in FY2025 Billions of yen (*)HCM：Hitachi Construction Machinery +150.8 ⊖Income taxes related with share transfer of HCM(*) and Astemo ⊖Absence of gains from large asset sales in previous year +227.6 (64.9) 802.3 Net Income (126.9) (Attributable to

  14. Slide 14: Financial Position and Cash Flows

    Financial Position and Cash Flows Summary of Consolidated Financial Position As of As of Difference from Billions of yen March 31, 2025 March 31, 2026 March 31, 2025 Total assets 13,284.8 15,041.2 +1,756.4 Cash and cash equivalents 866.2 1,323.4 +457.2 Trade receivables and contract assets 3,496.3 4

  15. Slide 15: Regional Revenues in FY2025

    Regional Revenues in FY2025 Expanded overseas, led by Europe ✓ Energy : Expanded across all regions primarily (+)Favorable lifecycle mix of large-scale projects in Europe, North America, and Other areas and solid execution of strong order backlog ✓ Mobility : Expanded in Europe, North America, (+)Im

  16. Slide 16: Order Results by Business Segment in Q4 FY2025/FY2025

    Order Results by Business Segment in Q4 FY2025／FY2025 Key Drivers of Order Intake in FY2025 ✓ DSS (+) Increase in DX/modernization projects ✓ Mobility (+) Increase in Rail Control projects (–) Disciplined deal governance in storage business (–) High base effect from previous year’s large-scale Rail

  17. Slide 17: Contents

    Contents 1. Key Messages 2. FY2025 Results 3. FY2026 Forecast 4. Performance by Business Segment 5. Lumada Business Appendices 17 ©Hitachi, Ltd. 2026. All rights reserved

  18. Slide 18: FY2026 Highlights

    FY2026 Highlights Consolidated Total FX sensitivity(*) Billions of yen Assumed (FY2026) FX rate Revenue 11,100.0 Revenue Adj. EBITA YoY +5% USD 150 yen +14.5 bn yen +1.5 bn yen EURO 175 yen +9.0 bn yen +0.8 bn yen Adj. EBITA 1,420.0 (*) Impact of FX rate fluctuation by one-yen depreciation YoY +108.

  19. Slide 19: Breakdown of YoY Changes in Revenue and Adj. EBITA in FY2026

    Breakdown of YoY Changes in Revenue and Adj. EBITA in FY2026 Billions of yen YoY +7% YoY +5% +778.3 11,365.0 11,100.0 10,586.7 (58.0) (167.0) (40.0) Revenues FY25 Volume, etc etc Subtotal Foreign Foreign Business Portfolio The Middle Middle EastEast risk FY26 FY25 Volume, Subtotal Exchange reorganiz

  20. Slide 20: Breakdown of YoY Changes in Net Income and Core FCF in FY2026

    Breakdown of YoY Changes in Net Income and Core FCF in FY2026 Billions of yen +115.7 +46.7 850.0 802.3 (114.7) Net Income (Attributable to ⊖Decrease in Equity earnings of affiliates Hitachi, Ltd. ⊖High base effect from previous year of Shareholders) Net gain on business reorganization and others ⊕Hi

  21. Slide 21: Contents

    Contents 1. Key Messages 2. FY2025 Results 3. FY2026 Forecast 4. Performance by Business Segment 5. Lumada Business Appendices 21 ©Hitachi, Ltd. 2026. All rights reserved

  22. Slide 22: Change in Reporting Segments

    Change in Reporting Segments Old Reporting Segment Structure (FY2025) New Reporting Segment Structure (FY2026) Finance/Social Segment BU / Subsidiary / Business Infrastructure SI business Segment BU / Subsidiary / Business Digital Front Business (Incl. Financial Institutions BU, Social Infrastructur

  23. Slide 23: DSS: Performance by Business Segment (FY2025)

    DSS: Performance by Business Segment (FY2025) FY2025 YoY vs Previous Forecast Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Digital Systems & Services 2,940.0 450.0 +4% +55.9 ±0% +13.0 15.3% [+4%](*) +1.4 pts +0.5 pts Front Business 1,309.9 187.2 +7% +34.0 +1% +10.7 14.3%

  24. Slide 24: DSS: Performance by Business Segment (FY2026)

    DSS: Performance by Business Segment (FY2026) FY2025 FY2026 YoY Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Digital Systems & Services 3,068.3 477.1 3,190.0 500.0 +4% +22.8 15.5% 15.7% [+4%](*) +0.2 pts SI & Services 1,473.8 226.1 1,530.0 234.0 +4% +7.9 15.3% 15.3% ±0.0

  25. Slide 25: Energy: Performance by Business Segment

    Energy: Performance by Business Segment FY2025 YoY vs Previous Forecast FY2026 YoY Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Energy 3,219.9 416.0 +23% +164.0 +2% +16.0 3,700.0 500.0 +15% +83.9 (*) 12.9% [+20%] +3.3 pts +0.3 pts 13.

  26. Slide 26: Mobility: Performance by Business Segment (FY2025/FY2026)

    Mobility: Performance by Business Segment (FY2025/FY2026) FY2025 YoY vs Previous Forecast FY2026 YoY Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Mobility 1,321.5 108.1 +13% +13.2 +2% +2.1 1,350.0 127.0 +2% +18.8 (*) 8.2% [+6%] +0.1 p

  27. Slide 27: CI: Performance by Business Segment (FY2025)

    CI: Performance by Business Segment (FY2025) FY2025 YoY vs Previous Forecast Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Connective Industries 3,262.7 367.3 (1)% +22.0 ±0% +11.3 11.3% [(1)%](*) +0.8 pts +0.4 pts Urban Systems 1,213.6 127.0 (7)% (2.6) ±0% +3.6 10.5% +0.5

  28. Slide 28: CI: Performance by Business Segment (FY2026)

    CI: Performance by Business Segment (FY2026) FY2025 FY2026 YoY Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Connective Industries 3,086.0 340.3 3,150.0 371.0 +2% +30.6 11.0% 11.8% [+2%](*) +0.8 pts Industrial Solutions 1,426.6 180.8 1,539.0 195.4 +8% +14.6 12.7% 12.7% ±0.

  29. Slide 29: Contents

    Contents 1. Key Messages 2. FY2025 Results 3. FY2026 Forecast 4. Performance by Business Segment 5. Lumada Business Appendices 29 ©Hitachi, Ltd. 2026. All rights reserved

  30. Slide 30: Lumada Business Expansion: Accelerating HMAX Scale-up

    Lumada Business Expansion: Accelerating HMAX Scale-up Scaling HMAX deployment across sectors to establish continuous and stable earnings bases Lumada HMAX FY2025 FY2026 FY2025 FY2026 Revenue Revenue Adj. EBITA Revenue Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Ratio Margin Ratio Margin

  31. Slide 31: Lumada Business

    Lumada Business ✓ DSS drives digitalization of the OT and product domains across the Hitachi Group ✓ Digital Services expanded, centered on highly profitable HMAX ✓ The overall Lumada business grew as Digitalized Assets, the source of future Digital Services, expanded FY2025 YoY FY2026 YoY Revenue A

  32. Slide 32: Contents

    Contents 1. Key Messages 2. FY2025 Results 3. FY2026 Forecast 4. Performance by Business Segment 5. Lumada Business Appendices 32 ©Hitachi, Ltd. 2026. All rights reserved

  33. Slide 33: Consolidated Total: Performance by Business Segment in FY2025

    Consolidated Total: Performance by Business Segment in FY2025 Q4 FY2025 YoY FY2025 YoY vs Previous Forecast Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Digital Systems & 898.7 164.9 +9% +35.6 2,940.0 450.0 +4% +55.9 ±0% +13.0 Service

  34. Slide 34: Consolidated Total: Performance by Business Segment in FY2026

    Consolidated Total: Performance by Business Segment in FY2026 FY2025 FY2026 YoY Billions of yen Revenue Adj. EBITA Revenue Adj. EBITA Revenue Adj. EBITA Digital Systems & 3,068.3 477.1 3,190.0 500.0 +4% +22.8 Services 15.5% 15.7% [+4%](*) +0.2 pts Energy 3,219.9 416.0 3,700.0 500.0 +15% +83.9 12.9%

  35. Slide 35: Summary of Consolidated Statement of Profit & Loss

    Summary of Consolidated Statement of Profit & Loss vs Previous Q4 FY24 Q4 FY25 YoY FY24 FY25 YoY FY26 YoY Billions of yen Forecast Revenue 2,772.1 3,084.9 +11% 9,783.3 10,586.7 +8% +1% 11,100.0 +5% Adj. Operating Income 316.6 373.5 +56.8 971.6 1,199.2 +227.6 +49.2 1,315.0 +115.7 Acquisition-related

  36. Slide 36: GlobalLogic: Synergies and Stand-Alone Revenue Trends

    GlobalLogic：Synergies and Stand-Alone Revenue Trends Total 1,424 Units: MUSD YoY+44% The total is included in Lumada business revenue 903 Synergies 482 462 550 593 YoY+87% (booked by other BUs & Group companies)(*) Stand-Alone 496 521 507 503 512 (*): GlobalLogic contribution to the Lumada business.

  37. Slide 37: Change in Reporting Segments (DSS)

    Change in Reporting Segments (DSS) Revenue of transferred Billions of yen businesses Segment BU / Subsidiary / FY25 Segment BU / Subsidiary / Business FY25 FY26 Business Financial and Social Infrastructure SI Digital Front Business Revenue 1,309.9 business c. 1,233.0 Revenue 1,473.8 1,530.0 Systems

  38. Slide 38: Change in Reporting Segments (CI)

    Change in Reporting Segments (CI) Billions of yen Segment BU / Subsidiary / FY25 Revenue of Segment BU / Subsidiary / Business FY25 FY26 Business Transferred Connective Urban Systems Revenue 1,213.6 businesses Connective Revenue 1,426.6 1,539.0 Industries BU Industries Industrial Solutions BU Adj. E

  39. Slide 39: HMAX Projects

    HMAX Projects HMAX for Mobility HMAX for Industry HMAX for Energy Hitachi Rail's Acquisition of Clever Devices Predicting, Optimizing, and Autonomously Transforming Critical Energy Infrastructure with AI and Digital Transformation Controlling Power Supply and Demand with Physical AI Hitachi has laun

  40. Slide 40: Our Ambition / Lumada and HMAX

    Our Ambition / Lumada and HMAX Our Ambition： Aspirations of Inspire 2027 “Contribute to a harmonized society by True One Hitachi and grow To be a global leader sustainably” ✓ “Lumada,” which leverages Hitachi's unique strength in combining in continuously transforming social IT, OT, and products, he

  41. Slide 41: Lumada Business Growth Model

    Lumada Business Growth Model ✓ Hitachi’s strength in physical-digital integration forged in the mission-critical social infrastructure business ✓ Lumada growth model evolved through co-creation with customers and partners ✓ Driving Lumada business growth by scaling “HMAX” recurring Digital Services

  42. Slide 42: HMAX by Hitachi: Next-generation Solution Suite Innovating Social Infrastructure Enabled by AI

    HMAX by Hitachi: Next-generation Solution Suite Innovating Social Infrastructure Enabled by AI ✓ HMAX is a recurring service included in Lumada Digital Services ✓ We provide high-value-added services by combining AI and frontline / on-site data with our 110 years of domain expertise in developing an

  43. Slide 43: Notes

    Notes Items Contents Adj. EBITA Adj. operating income plus acquisition-related amortization Acquisition-related amortization Amortization and depreciation of intangible assets and other assets allocated from goodwill recognized through fair-value evaluation of an acquired company’s assets and liabil

  44. Slide 44: Cautionary Statement

    Cautionary Statement Certain statements found in this document may constitute “forward-looking statements” as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” reflect management’s current views with respect to certain future events and financial

  45. Slide 45: HITACHI

    HITACHI

Hitachi Ltd Ord — FY2025 Earnings Presentation on 6ix