Hitachi Ltd. lowered its target for power-system sales in fiscal 2012 by 3.3 percent, as the company expects reduced revenue from its nuclear energy business.
The nation's second-largest maker of reactors reduced its sales target for the power-system business to ¥870 billion in the 12 months ending in March 2013, down from a previous goal of ¥900 billion, the Tokyo-based company said Thursday in a statement. Hitachi also cut its goal for fiscal 2015 to ¥1.1 trillion from ¥1.2 trillion.
The company said last week its nuclear business may generate sales of ¥360 billion in the year ending March 2021, 5 percent less than its previous target. Net income may drop 16 percent this fiscal year as the March 11 quake and tsunami crippled Hitachi's factories, the company said June 9.