Hiroaki Nakanishi, the incoming president of Hitachi Ltd., said Thursday the electronics giant will further concentrate its resources in core operations to achieve its goal of returning to profit by the next financial year.
"The coverage of the current Hitachi group is too broad," Nakanishi, the executive vice president who will become president April 1, said in an interview. "We will distance ourselves from areas where market fluctuations are volatile and where it is hard to generate stable profits."
The conglomerate, with sprawling businesses from home appliances to railway systems to nuclear reactors, is expected to remain in the red for the current business year ending in March for the fourth consecutive year.