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TOKYO : Japanese high-tech giant Hitachi Ltd. said Thursday that it had lost about 1.5 billion US dollars in the six months through September because of weak demand for electronics.
Hitachi, which makes everything from refrigerators to nuclear power systems, posted a net loss of 133.2 billion yen (1.47 billion US dollars) for the first half of its business year, against a year-earlier profit of 14.2 billion yen.
The loss was roughly in line with a preliminary estimate released by the company earlier this week.
It logged an operating loss of 24.8 billion yen for the first half period, against a 197.1-billion-yen profit a year earlier. Revenue fell to 4.12 trillion yen from 5.31 trillion yen.
Hitachi is restructuring after losing 787.3 billion yen in the year to March 2009 -- the biggest ever loss for a Japanese manufacturer.
The overhaul includes up to 7,000 job cuts, a tie-up in mobile telephones with fellow high-tech makers NEC and Casio Computer and a move to take full control of five of its key businesses.
Hitachi maintained its outlook for a net loss of 230 billion yen for the year to March 2010, alongside an operating profit of 80 billion yen and revenue of 8.7 trillion yen.
- AFP/ir
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