TOKYO (dpa-AFX) - Japanese conglomerate Hitachi Ltd. (HTHIF.PK, HTHIY.PK) reported Wednesday that its fiscal 2020 net income attributable to stockholders surged to 501.6 billion Japanese yen or $4.52 billion from 87.5 billion yen in the year-ago period. Earnings per share rose to 518.51 yen or $4.67 from 90.60 yen last year.
EBIT for the year grew to 850.2 billion yen or $7.66 billion from 183.6 billion yen in the year-ago period. Adjusted operating income was 495.1 billion yen or $4.46 billion, lower than last year's 661.8 billion yen.
Revenue was 8.73 trillion yen or $78.64 billion, down from 8.77 trillion yen a year ago.
Looking ahead for fiscal 2021, Hitachi projects net income of 550 billion yen or $4.96 billion, EBIT of 820 billion yen or $7.39 billion, adjusted operating income of 740 billion yen or $6.67 billion, and revenues of 9.50 trillion yen or $85.59 billion, which is up 9 percent from last year.
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