Hitachi

Hitachi is a Japanese group that sells power grid equipment, IT services, rail systems and industrial products. It has four main sectors. Digital Systems & Services sells IT systems, software and storage. Energy includes Hitachi Energy, which makes power grid equipment such as HVDC links and transformers, and nuclear power services.

Mobility makes rail vehicles and rail signalling systems. Connective Industries makes semiconductor measurement equipment, clinical analyzers, elevators, building systems and home appliances. In the six months to September 30, 2026, revenues were ¥5,614.0 billion, and Energy was the largest sector with revenues of ¥1,872.4 billion. Revenues from outside Japan were 67% of the total.

Its fiscal year ends on March 31, and it reports in yen under IFRS. Its shares trade on the Tokyo Stock Exchange. In the United States, its ADS trades over the counter under HTHIY. Hitachi does not file reports with the SEC, so this research uses its own releases.

The market doubts that Hitachi can keep its fast profit growth, and the intrinsic value here is an AI estimate. Much of the growth comes from Hitachi Energy, where H1 fiscal 2026 orders grew 66% and segment profit rose 59% to ¥274.9 billion. Investors fear that grid and data center spending is near a peak and that large HVDC and rail projects can bring cost overruns. Other parts grow more slowly: Digital Systems & Services had ¥9.0 billion of one-off cost increases on domestic projects in Q2.

For the gap to close, three things must be true. Adjusted EBITA must reach the raised forecast of ¥1,560.0 billion and net income ¥920.0 billion for the year to March 2027. Energy orders must keep the order backlog growing from ¥10.5 trillion. Hitachi must complete the planned share buybacks of ¥550.0 billion in the year while ROIC rises toward the 13.5% forecast.

The Q3 fiscal 2026 report, expected in late January 2027, gives the next test. The full-year report, expected in late April 2027, tests the forecast and the buybacks. If these checks pass, the gap can close within one to two years.

AI estimate, checked by Kevin. How it is made

1. Jan 28, 2027 · est.Pending

   Q3 fiscal 2026 results: Energy orders and forecastAdjusted EBITA on the path to ¥1,560.0 billion, growing Energy orders and a kept or higher forecast pass; a lower forecast or new project losses fail.
2. Apr 2027 · est.Pending

   Fiscal 2026 results and buybacksNet income of ¥920.0 billion or more and share buybacks of ¥550.0 billion in the year pass; lower profit or smaller buybacks fail.

Every passed and failed checkpoint across all picks

• October 28, 2026Hitachi reported results for the six months to September 30, 2026. Revenues rose 17% to ¥5,614.0 billion, and Adjusted EBITA rose to ¥699.7 billion. Q2 revenues and Adjusted EBITA were records for a second quarter. Net income attributable to Hitachi stockholders fell 12% to ¥416.6 billion because the prior year included a gain from the sale of the air conditioning joint venture. Hitachi raised its forecast for the year to March 2027 to revenues of ¥12,000.0 billion, Adjusted EBITA of ¥1,560.0 billion and net income of ¥920.0 billion. It raised the interim dividend to ¥32 per share from the forecast of ¥28.
• October 1, 2026Hitachi sold part of its shares in Astemo to Honda for ¥152.3 billion. Its stake fell from 40.0% to 19.0%. On the same day, Hitachi Channel Solutions' ATM business became a joint venture, OH Channel Innovations.
• August 21, 2026Hitachi completed the sale of its shares in Hitachi Construction Machinery.

• Energy gave ¥274.9 billion of the ¥734.8 billion of segment profit in H1 fiscal 2026. If spending on power grids and data centers slows, orders and profit can fall.
• Hitachi works on large, long projects such as HVDC links, rail systems and IT systems. Cost overruns can lower profit, as the ¥9.0 billion of one-off costs on domestic IT projects in Q2 fiscal 2026 showed.
• Revenues from outside Japan were 67% of the total in H1 fiscal 2026. A stronger yen lowers reported revenues and profit, and it also lowers the value of each ADS in U.S. dollars. Trade rules and conflicts, such as the situation in the Middle East, can also lower orders.
• The ADS trades over the counter with low volume, and Hitachi does not file reports with the SEC. The ADS ratio in this research comes from market prices, not from a depositary notice.

Hitachi has more cash than debt. At September 30, 2026, cash and cash equivalents were ¥1,511.0 billion. Read more

Paid per share

$0.00 in the last 12 months (0 payments)

Latest ex-dividend date

March 28, 2025, $0.153 per share

Dividends per share by year

Source: company filings and market data, read on November 9, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.