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.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.