Nay Pyi Taw, Myanmar, July 5, 2016<\/strong>\u00a0— Hitachi, Ltd. (TSE: 6501, \u201cHitachi\u201d) and Hitachi Asia Ltd. announced today that it is hosting a \u201cHitachi Social Innovation Forum in Myanmar\u201d on 5 July 2016 at Hilton Nay Pyi Taw. H.E U Kyaw Myo, Deputy Minister for Ministry of Transport and Communications, Myanmar, will grace the event as guest-of-honor.<\/p>\nThrough hosted exhibition and business seminars, the forum will showcase a broad range of solutions in Hitachi\u2019s \u201cSocial Innovation Business\u201d, which combines infrastructure and advanced information technologies. Customers, business partners, and major stakeholders in Myanmar will be able to have a better understanding of Hitachi\u2019s key business fields such as information and telecommunication systems, transportation, power systems and healthcare.<\/p>\n
Delegates will also be able to hear from Hitachi speakers Mr. Yoshitaka Tsuda, Vice President and Executive Officer, Hitachi, Ltd., Mr. Alistair Dormer, Senior Vice President and Executive Officer, CEO of Railway Systems Business Unit, Hitachi, Ltd. and Executive Chairman of the Board, Hitachi Rail Europe Ltd., and Mr. Atsushi Takita, Corporate Officer, Hitachi, Ltd. They will share their views on Myanmar\u2019s growth opportunities and challenges, and introduce some of Hitachi\u2019s solutions for collaborative creation from the view of Geospatial Solutions and Public Transportation supported by IT Systems.<\/p>\n
Following the success of last year\u2019s event, Hitachi will once again hold its Social Innovation Forum in Myanmar\u2019s capital city as part of its business expansion plans in the country. In the recently announced 2018 Mid-term Management Plan, Hitachi targets to increase its overseas sales ratio to more than 55%. Myanmar is one of the fastest growing countries in Asia and demand for infrastructure is expected to be one of the main drivers of growth.<\/p>\n
In recent months, Hitachi has rapidly expanded its business in Myanmar. In May 2015, Hitachi signed a 2.4 billion yen contract with Myanmar Railways to deliver a signaling system by June 2017, along a 140 km route connecting Yangon Central Railway Station and Pyuntasa Station in the Bago region. Later in December, Hitachi Solutions won a tender to implement an electronic data interchange (EDI) system for the Myanmar Port Authority. The system aims to modernize and improve efficiency of the port administration and is scheduled for completion by February 2017.<\/p>\n
Hitachi has also established various joint ventures and new companies in the country since July 2015, including Hitachi Soe Electric & Machinery Co., Ltd., a transformer joint venture of Hitachi Industrial Equipment Systems with Soe Electric & Machinery, Hitachi Elevator (Myanmar) Co., Ltd., a joint venture with Prime Deco Engineering Co., Ltd. for sales and services of elevators and escalators, and Hitachi Home Electronics Myanmar Co., Ltd.<\/p>\n
Mr. Hiroaki Nakanishi, Chairman of the Board, Representative Executive Officer Hitachi, Ltd. said, \u201cLast year, Hitachi announced plans to expand our business in Myanmar and increase the number of local employees five times \u2013 from 200 to 1,000 \u2013 by 2020. We are very much on track and I am pleased to share that our employee numbers have more than doubled to over 500 in just one year. Hitachi remains committed to resolving the various social issues faced by Myanmar through our Social Innovation Business. As demonstrated in our business presentations and exhibition at today\u2019s forum, we will combine Hitachi\u2019s infrastructure technologies in areas such as railways with advanced information technologies to improve Myanmar\u2019s quality of life.\u201d<\/p>\n
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