News Releases from Headquarters


Corporate Name and Management Announced for
New Telecommunications Company
Tokyo, Japan, July 24 - Hitachi, Ltd. (TSE:6501, NYSE:HIT, Hitachi) and Hitachi Telecom Technologies, Ltd. (President: Yukio Kawamoto; hereinafter "Hitachi Telecom") today announced the corporate name and management for a new company, which was the subject of a prior announcement made on April 24, 2002, "Hitachi Reorganizing Operations to Strengthen Hitachi Group's Telecommunication Equipment Business."

Accelerated convergence of computers and communications and progress with broadband technology are combining to bring a "ubiquitous information society" ever closer to becoming a reality. As this happens, the volume of data sent around networks is expected to grow phenomenally, creating increasing demand for communications network solutions services, particularly related to IP (Internet Protocol) networks. Meanwhile, the telecommunications equipment market is witnessing escalating competition as national borders give way to market forces. At the same time, technological innovation is propelling us toward IP-based, open networks. Hitachi is conscious of the need to bolster its competitiveness on the world stage in light of these trends. This is being accomplished through greater selection and concentration of resources to create speedier, more efficient businesses.

The new company will be formed by separating Hitachi's Telecommunication Systems Division along with other Hitachi departments that handle marketing and support services for telecommunications equipment operations, and integrating these units with Hitachi Telecom. The separation and integration takes advantage of Japan's new corporate split-off system.

The new company will be a core entity, providing products that support the Hitachi Group in offering communications network solutions, a central focus of its systems solutions business. The new company will integrate everything from development and manufacturing to sales and maintenance of telephone switching equipment for the public and private sectors, optical transmission equipment, base stations for mobile communications systems, IP-related equipment and network equipment. This will significantly strengthen the Hitachi Group's communications network solutions business.

Details of the new company are as follows.

Profile of the New Company

1. Company name Hitachi Communication Technologies, Ltd.
2. Capital ¥3.0 billion
3. Main business lines Manufacturing and sales of communications-related equipment
4. President Yukio Kawamoto (Presently President, Hitachi Telecom)
5. Start of operations October 1, 2002
6. Address (Head office) D Building, Omori Bellport, 6-26, Minami-ohi, Shinagawa-ku, Tokyo
(Manufacturing bases) 216, Totsuka-cho, Totsuka-ku, Yokohama, Kanagawa 94, Aza Funabamukai, Kooriyamashi, Fukushima
7. No. of employees Approx. 1,540
8. Net sales Approx. ¥60 billion (projected figure for the fiscal year ending March 31, 2003)
9. Management  
President and Director Yukio Kawamoto (President, Hitachi Telecom)
Senior Managing Director Eiji Aoki (Head, Managing Officer President, Telecommunication Systems Division, Hitachi)
Managing Directors Kenzo Tamaki (Managing Director, Hitachi Telecom)
Tetsuaki Egawa (Managing Director, Hitachi Telecom)
Directors (Part time) Kunihiro Kamiya (Managing Officer, Chief Operating Officer, Information Business Group, Hitachi)
Kazuo Furukawa (Administrative Officer, Chief Operating Officer, Information & Telecommunication Systems, Hitachi)
Executive Officers Hiroatsu Suzuki (Presently Director, Hitachi Telecom)
Hiroshi Yamazaki (Director, Hitachi Telecom)
Tokuoki Nishikawa (Director, Hitachi Telecom)
Yoshihiro Miyano (Vice President, Telecommunication Systems Division, Information & Telecommunication Systems Group, Hitachi)
Tsutomu Hayashi (Senior Vice President, Telecommunications Network Sales Division, Industrial & Infrastructure Information Systems Sales Management Division, Hitachi)
Ken Masuda (Executive Vice President, Telecommunication Systems Division, Information & Telecommunication Systems Group, Hitachi)
Corporate Auditor Masanori Ariyoshi (Corporate Auditor, Hitachi Telecom)
Auditors (part time) Hiroshi Yamauchi (Senior Manager, Group Management Office, Hitachi)
Kazuo Yoshioka (General Manager, Finance Department, Information Business Group, Hitachi)

About Hitachi
Hitachi, Ltd., headquartered in Tokyo, Japan, is a leading global electronics company, with approximately 320,000 employees worldwide. Fiscal 2001 (ended March 31, 2002) consolidated sales totaled 7,994 billion yen ($60.1 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://global.hitachi.com.

About Hitachi Telecom
Hitachi Telecom Technologies, Ltd., in Fukushima, Japan is a wholly owned subsidiary of Hitachi, Ltd. The company manufactures and markets to corporate customers products such as PBX-and IP related products. For more information on Hitachi Telecom Technologies, please visit its Web site at http://www.hitachi-telecom.co.jp/

Reference: Abridged Biography
Name: Yukio Kawamoto
Date and place of birth: Aug. 1936, Osaka
Abridged biography:

Mar. 1959 Kyoto University, Electrical Engineering
Apl. 1959 Joined Hitachi, Ltd.
Sep. 1966 Completed masters degree at University of California
Aug. 1981 Appointed Deputy General Manager, Central Research Laboratory, Hitachi
Jun. 1985 Appointed General Manager, Hitachi Research Laboratory
Jun. 1989 Appointed Head, New Media Development
Feb. 1990 Appointed General Manager, Information & Image System Division
Jun. 1991 Appointed Director
Jun. 1993 Appointed Managing Director
Jun. 1995 Appointed President, Hitachi Information Network, Ltd.
Jun. 1999 Appointed President, Hitachi Telecom Technologies, Ltd.


Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.

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