Hitachi needs $4.6 billion in cash
In 2010 Hitachi will celebrate its centenary and its executives don’t feel like celebrating. For the first time in 27 years, Hitachi needs cash to ensure its debt doesn’t affect its viability, all $4.6 billion of it. The $100 billion-a-year company was hit badly by the recession and it expects to lose more than $2 billion this year. It is now forced to follow the path already taken by its competitors NEC and Toshiba. It may not be easy for them to raise all that cash as investors are generally cool on the old giant’s future. Read more: BBC News
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