Hitachi, Ltd. (NYSE:HIT) today announced the appointment of a new chairman and
president, effective April 1, 1999. The company will also establish a new position of
vice-chairman after an amendment to the Articles of Incorporation to be proposed at the
Ordinary General Meeting of Shareholders in June 1999.
* Current position in parentheses.
Effective April 1, 1999
New Chairman and Representative Director
Tsutomu Kanai (President and Representative Director)
New President and Representative Director
Etsuhiko Shoyama (Executive Vice-President and Representative
New Chairman Emeritus
Katsushige Mita (Chairman and Representative Director)
Effective June 1999
New Vice-Chairman and Representative Director
Hiroshi Kuwahara (Executive Vice-President and Representative
Dr. Tsutomu Kanai, 69, has been President and Representative Director of Hitachi, Ltd.
since June 1991. He joined Hitachi in 1958 and served in the Central Research
Laboratory, developing nuclear reactors. In 1985, Dr. Kanai was elected Executive
Managing Director and Group Executive of the Power Group. He assumed the position
of Senior Executive Managing Director in 1987 and the positions of Executive Vice-
President and Director in 1989. Dr. Kanai received his B.S., M.S. and Ph. D. in
Mechanical Engineering from the University of Tokyo.
During his tenure as president, Dr. Kanai accelerated the implementation of market-
oriented management by emphasizing customer satisfaction. He has expanded
Hitachi's international operations by significantly increasing overseas sales, off-shore
production and international procurement. Most recently, Dr. Kanai has been taking a
strong leadership role to implement drastic management reforms and reduce costs.
Mr. Etsuhiko Shoyama, 62, has been Executive Vice-President and Representative
Director of Hitachi, Ltd. since 1997. His current responsibilities cover the Consumer
Products Group, multimedia products operations, investment planning, production
engineering, quality assurance, environmental issues and procurement. He joined
Hitachi in 1959 and started his career at the Hitachi Works as a power plant engineer.
He was elected Board Director and General Manager of the Consumer Electronics
Division in 1991. He assumed the position of Executive Managing Director in 1993
and Senior Executive Managing Director in 1995. He graduated from the Tokyo
Institute of Technology, Department of Electrical & Electric Engineering, in 1959.
Since his assignment to the consumer products business, he has been restructuring
operations aggressively, which has included a realignment of audiovisual product
operations and a merger between Hitachi Sales Corporation and Hitachi, Ltd. in April
1995. Through the restructuring effort and launches of various new competitive
products, he moved the consumer products business back into profitability in 1997.
Mr. Shoyama has also expanded the fast-growing multimedia business, such as by the
introduction of DVD products. Most recently, he has been pursuing further
restructuring of consumer product operations as well as actively participating in overall
Mr. Hiroshi Kuwahara, 63, has been Executive Vice-President and Representative
Director of Hitachi, Ltd. since 1995. His current responsibilities cover the Information
Systems Group, Electronics Components Group, Space Systems Division and Business
Development Office. He joined Hitachi in 1960 at the Kokubu Works and contributed
to the development of industrial computer systems. He was elected Board Director
and Group Executive of the Industrial Processes Group in 1989. He assumed the
position of Executive Managing Director in 1991 and Senior Executive Managing
Director in 1993. He received his B.S. in Electrical Engineering from the University
of Tokyo in 1960.
Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading global
electronics companies, with fiscal 1997 (ended March 31, 1998) consolidated sales of
8,417 billion yen ($63.8 billion*). The company manufactures and markets a wide
range of products, including computers, semiconductors, consumer products and power
and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi's
Web site at http://www.hitachi.co.jp.
*At an exchange rate of 132 yen to the U.S. dollar.