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4/24/2012

Hitachi Announces Director Candidates

Tokyo, April 24, 2012 --- Hitachi, Ltd. (NYSE:HIT / TSE:6501) today announced director candidates in accordance with a decision taken at a meeting of Nominating Committee convened today, subject to approval at Hitachi’s Ordinary General Meeting of Shareholders in June 2012.

Hitachi has worked actively over the years to strengthen its corporate governance. For instance, it adopted the Committees System under Japanese law in 2003, with the aim of creating a framework for quick business operation, by demarcating responsibilities for management oversight and those for the execution of business operations, while making management highly transparent. In selecting directorship candidates for this year, Hitachi has decided to increase the number of outside directors, including non-Japanese, to make outside directors the majority on the Board of Directors. Hitachi has made this move in order to better reflect various global viewpoints in management to drive further growth on a global basis, centered on the Social Innovation Business, as well as to further strengthen management oversight.

Specifically, Hitachi is proposing to increase the number of outside directors from four to seven, by nominating three people, including two non-Japanese, as outside director candidates. Furthermore, the number of directors appointed from within Hitachi will be reduced from eight to six, and the number of directors serving concurrently as executive officers will be reduced from two to one. With these changes in the Board composition, Hitachi aims to promote management with an enhanced global outlook and to ensure rigorous demarcation of management supervision and execution, thereby reinforcing a framework for even quicker business operation and improved management oversight.

1. Director Candidates <Proposed at Hitachi’s Ordinary General Meeting of Shareholders in June 2012> [* New]

<Chairman of the Board>

Takashi Kawamura, currently Chairman of the Board

<Outside Director>

Yoshie Ota, currently Outside Director

Mitsuo Ohashi, currently Outside Director, Advisor of Showa Denko K.K.

Nobuo Katsumata, currently Outside Director, Chairman of the Board of Marubeni Corporation

*George Buckley, currently Executive Chairman of the Board of 3M Company (USA)

*Harufumi Mochizuki, currently Senior Adviser to the Board of Nippon Life Insurance Company

Tohru Motobayashi, currently Outside Director, Attorney at law

*Philip Yeo, currently Chairman of SPRING (Standards, Productivity and Innovation Board) Singapore

<Director>

*Michijiro Kikawa, currently Director of Hitachi Construction Machinery Co., Ltd.

Stephen Gomersall, currently Director, Chairman of the Board of Hitachi Europe Ltd.

Hiroaki Nakanishi, currently Director, Representative Executive Officer and President

Takashi Hatchoji, currently Director, Chairman of the Board of Hitachi America, Ltd.

Takashi Miyoshi, currently Director

Note: Directors are listed in Japanese alphabetical order within each grouping.

2. Resigning Directors

Isao Ono, currently Director, Chairman Emeritus of Hitachi Solutions, Ltd.

Tadamichi Sakiyama, currently Director

Masaharu Sumikawa, currently Director, Chairman of the Board of Hitachi Plant Technologies, Ltd.

3. Biography of New Director Candidates

George Buckley

1. Date of Birth

:

February 23, 1947

2. Education

   
 

July 1976

:

Graduated from University of Huddersfield, Ph.D. in Engineering (after joint study at Universities of Southampton and Huddersfield)

 

April 1972

 

Graduated from University of Huddersfield, Bachelor of Science in Electrical and Electronic Engineering

3. Professional Experience

 

February, 2012

:

Executive Chairman of the Board, 3M Company (USA)

 

December, 2005

:

Chairman of the Board, President and Chief Executive Officer, 3M Company (USA)

 

June, 2000

:

Chairman and Chief Executive Officer, Brunswick Corporation (USA)

 

April, 2000

:

President and Chief Operating Officer, Brunswick Corporation (USA)

 

July, 1997

:

President, Mercury Marine Division and Corporate Vice President, Brunswick Corporation (USA)

 

September, 1994

:

President , US Electrical Motors, Emerson Electric Company (USA)

 

February, 1993

:

Chief Technology Officer, Motors, Drives and Appliances, Emerson Electric Company (USA)

 

September, 1989

:

Managing Director, Central Services Division, British Railways Board (UK)

 

October, 1987

:

Director of Research, British Railways Board (UK)

 

July, 1986

:

General Manager, Generator Division, GEC Turbine Generators Ltd. (UK)

 

April, 1979

:

Joined Detroit Edison Company (USA),

Senior Engineer

Harufumi Mochizuki

1. Date of Birth

:

July 26, 1949

2. Education

   
 

March, 1973

:

Graduated from the Faculty of Law, Kyoto University

3. Professional Experience

 

October, 2010

:

Senior Adviser to the Board, Nippon Life Insurance Company

 

August, 2010

:

Special Adviser to the Cabinet of Japan

(Retired in September, 2011)

 

July, 2008

:

Vice-Minister of Economy, Trade and Industry of Japan

 

July, 2006

:

Director-General, Agency for Natural Resources and Energy, Ministry of Economy, Trade and Industry (“METI”) of Japan

 

July, 2003

:

Director-General, Small and Medium Enterprise Agency, METI

 

July, 2002

:

Director-General for Commerce and Distribution Policy, Minister’s Secretariat, METI

 

April, 1973

:

Joined Ministry of International Trade and Industry of Japan

Philip Yeo

1. Date of Birth

:

October 29, 1946

2. Education

   
 

June, 1976

:

Graduated from Harvard Business School,

Master of Business Administration

 

August, 1974

:

Graduated from National University of Singapore,

Master of Science in Systems Engineering

 

June, 1970

:

Graduated from University of Toronto,

Bachelor of Applied Science in Industrial Engineering

3. Professional Experience

 

September, 2011

:

Chairman, Singbridge International Pte Ltd*

* A wholly owned subsidiary of Temasek Holdings (Private) Limited of the Ministry of Finance, Singapore

 

April, 2007

:

Chairman, SPRING (Standards, Productivity and Innovation Board) Singapore (Current)

Special Advisor in Economic Development,

Prime Minister’s Office, Government of Singapore

(Retired August, 2011)

Senior Advisor for Science and Technology

to the Ministry of Trade & Industry, Singapore

(Retired in September, 2008)

 

February, 2001

:

Chairman, Agency for Science,

Technology and Research of Singapore

 

January, 1986

:

Chairman, Economic Development Board of Singapore

 

June, 1970

:

Joined Ministry of Defense of Singapore

Michijiro Kikawa

1. Date of Birth

:

August 2, 1947

2. Education

   
 

March, 1970

:

Graduated from the Faculty of Engineering, Kyushu University

3. Professional Experience

 

April, 2012

:

Director, Hitachi Construction Machinery Co., Ltd. ("HCM")

 

April, 2006

:

President, Chief Executive Officer and Director, HCM

 

June, 2005

:

Executive Vice President, Representative Executive

Officer and Director, HCM

 

April, 2005

:

Executive Vice President and Representative Executive Officer, HCM

 

June, 2003

:

Senior Vice President and Executive Officer, HCM

 

April, 2003

:

Senior Vice President, HCM

 

June, 2002

:

Vice President, HCM

 

June, 2001

:

Executive Officer, HCM

 

May, 1995

:

Managing Director for Hitachi Construction Machinery (China) Co., Ltd.

 

February, 1992

:

General Manager of the Production Engineering Department for Tsuchiura Works, HCM

 

October, 1970

:

Joined HCM

 

April, 1970

:

Joined Hitachi Construction Machinery Co., Ltd. (manufacturing company)

About Hitachi, Ltd.

Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2010 (ended March 31, 2011) consolidated revenues totaled 9,315 billion yen ($112.2 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

Press Contacts

Japan

Atsushi Konno

Hitachi, Ltd.

+81-3-5208-9324

atsushi.konno.gs@hitachi.com

U.S.

Mickey Takeuchi

Hitachi America, Ltd.

+1-914-333-2987

masayuki.takeuchi@hal.hitachi.com