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Hitachi Promotes ASEAN Business Strategy at Board of Directors Meeting in Singapore
2017/12/14

Aiming for Business of 700 billion yen
Singapore, 13 December 2017 - Hitachi, Ltd. (TSE: 6501, Hitachi) announced today that it held its Board of Directors Meeting in the Republic of Singapore where Hitachi’s headquarters for the ASEAN region is located. This is Hitachi’s first Board of Directors Meeting in the ASEAN region, and the fifth outside of Japan. Under the 2018 Mid-term Management Plan, Hitachi aims to become "an Innovation Partner for the IoT Era" by focusing on expanding Social Innovation Business globally. Discussion at the meeting centered on Hitachi’s growth strategy from 2018 onwards and includes means of harnessing the growth potential of the ASEAN region, which is expected to drive the world economy in future.

In the ASEAN region, as momentum in the regional economy accelerates with integration of the market through various partnerships including the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), other various plans for the region including strategies relating to Infrastructure Export and Economic Corporation of the Japanese government, and the One Belt, One Road initiative of the Chinese government continue to raise growth expectations. In addition, Singapore and Malaysia, aiming to take the lead in introducing groundbreaking technologies and to forge ahead with nonstop industry innovations, announced their adoption of a regulatory sandbox. With a burgeoning market underpinned by a population of over 600 million people and the most advanced expertise as reflected in the wisdom of FinTech, ASEAN is a region brimming with untapped potential.

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