Hitachi Ltd. President Kazuo Furukawa said Friday that the question of job security for even regular employees remains uncertain and that the global economic downturn may drag on for two years.

But the chief executive of Japan's largest electronics maker in terms of sales vowed to pursue growth through mergers and acquisitions in energy and other core businesses.

Furukawa also emphasized that the company target of getting its struggling flat-panel television business into the black in the 2009 business year remains in force despite the adverse economic conditions and persistent price declines.