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Hitachi shares hit 20-year high as IT shift bears fruit

Investors bullish over profit boost from restructuring drive

Hitachi is looking to transform itself from an industrial conglomerate to a services-driven company.   © Reuters

TOKYO -- Hitachi shares reached a roughly 20-year high in Tokyo trading on Friday, buoyed by forecasts that the company is headed toward a record net profit for the second year in a row for the 12 months ending March 2022.

The issue gained as much as 2% to 5,536 yen at one point before ending the session at 5,505 yen.

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