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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (54848)	10/30/2001 8:42:36 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hitachi Ltd. (6501) expects to post a consolidated operating loss of 60 billion yen in fiscal 2001, its first group loss in three years The Nikkei English News Service via NewsEdge Corporation : TOKYO (Nikkei)--Hitachi Ltd. (6501) expects to post a consolidated operating loss of 60 billion yen in fiscal 2001, its first group loss in three years and a sharp turnaround from fiscal 2000 profit of 342.3 billion yen, The Nihon Keizai Shimbun has learned. The expected downturn reflects stress in several key business lines. Conditions in the semiconductor market are deteriorating, particularly for memory chips. Hitachi's liquid crystal business is being hurt by falling prices, while the storage business is bracing for a slowdown caused by a decline in U.S. information technology investments. Although Hitachi is projecting a 140 billion yen group net loss, chances are good that this will swell to nearly 200 billion yen due to higher-than-expected restructuring charges. Hitachi's semiconductor business has been jolted by a sharp price drop in DRAM chips, which has hurt profit margins. Price declines on system chips are also generating losses. For the entire fiscal year, the semiconductor business is likely to lose over 100 billion yen. (The Nihon Keizai Shimbun Tuesday morning edition) 300130 JST OCT 01 <<The Nikkei English