Deal to sell the home appliances division
Hitachi announced the sale of its home appliances division to Nojima Corp for 110.1 billion yen (US$691 million) as part of a strategy to concentrate efforts on the air conditioning business.
Agreement details
Under the agreement, Hitachi Global Life Solutions will spin off the home appliances division into a new company in which Nojima will own 80.1% of the shares, while Hitachi will retain 19.9%.