Hitachi Ltd. reported a quarterly loss of ¥17.4 billion Thursday amid a global slowdown in export markets and a surge in prices of oil and other raw materials.
The company also slashed its profit forecast for the business year ending next March to ¥15 billion from ¥40 billion. Sales were projected at ¥10.9 trillion, down 3 percent from last year.
For the July-September second quarter, soaring raw materials costs and slack demand hurt Hitachi's automotive systems and semiconductors businesses, the company said. Sales slumped severely in Europe and the United States.