Hitachi Ltd. on Friday reported a 68 percent decline in group net profit in the April-December period from a year earlier, with the firm primarily attributing the fall to its subsidiary’s suspension of a nuclear power plant project in the United Kingdom.
The Japanese electronics giant said net profit sagged to ¥82.6 billion for the nine months, down from ¥258.58 billion for the same period the previous year, due to a special loss attributed to the project.
The firm also slashed its net profit projection for the full year through March by 50 percent compared with the previous fiscal year, to ¥180 billion.