Hitachi earnings hit hard in Q4
Blames Japanese tsunami and Thai flooding
Japanese conglomerate Hitachi – which derives a fair portion of its sales and profits from the IT and telecom sectors – has taken it in the chin profit-wise in its third quarter of fiscal 2011 ended in December. For the quarter, sales were essentially flat at ¥2,2665bn ($29bn), but net income fell by 42.3 per cent to ¥46.4bn ($595m).…
