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Hitachi forecasts record profit as restructuring pays off

Leaner operations meet strong sales in mainstay segments

Chief Financial Officer Mitsuaki Nishiyama was upbeat about Hitachi's earnings in a Thursday briefing.

TOKYO -- Hitachi upgraded its operating profit forecast for the current fiscal year Thursday to a record 660 billion yen ($5.79 billion) in light of strong earnings from mainstay operations such as chipmaking equipment, construction machinery and information and telecommunications systems.

The new figure represents a 12% increase on the year and beats the company's earlier projection by 30 billion yen. Sales now are expected to rise 2% to 9.3 trillion yen, up 250 billion yen from the previous forecast.

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