Hitachi Ltd. announced Monday that it will raise up to ¥415.67 billion by issuing new shares and convertible bonds to bolster its financial base, which has been battered by the global economic slump.
Earlier reports said the company would try to raise ¥300 billion.
Hitachi said the capital boost is part of its efforts to return to profitability by strengthening operations with growth potential, such as information technology and social infrastructure.
The company suffered a worst-ever group net loss of ¥787.34 billion for the 2008 business year, which ended in March.