Hitachi Establishes New Home Appliance Company with Nojima
Hitachi and Nojima are forming a new company to operate Hitachi's home appliance business, with Nojima acquiring a majority stake.
Tokyo – Hitachi, Ltd. and its subsidiary Hitachi Global Life Solutions (Hitachi GLS) are establishing a strategic partnership with Nojima Corporation to advance the company's home appliance business. Under the agreement, Hitachi GLS will transfer 80.1% of the shares in a newly established company, focused on the home appliance sector, to a special purpose company managed by Nojima.
This capital restructuring aims to bolster the business's competitiveness and foster sustainable growth in the evolving home appliance market. Hitachi GLS will retain a 19.9% stake in the new entity.
Furthermore, Hitachi GLS has entered into an agreement with Arçelik A.S. to acquire Arçelik's 60% shareholding in Arçelik Hitachi Home Appliances B.V., which manages Hitachi-branded home appliances in overseas markets. The new company will succeed the rights and obligations of Arçelik Hitachi Home Appliances B.V. through a company split.
These transactions will consolidate Hitachi's home appliance operations in Japan and internationally under the new company. The goal is to strengthen a customer-centric business model and expand it globally. The transfer of the 80.1% stake is valued at approximately 110 billion yen and is expected to be completed by the end of fiscal year 2026, pending regulatory approvals. Hitachi states the transaction's impact on its consolidated financial results will not be material.