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| May 29, 2003 |
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| Hitachi to Acquire Its Own Shares from a Subsidiary |
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Tokyo, May 29, 2003 --- Hitachi, Ltd. (NYSE:HIT / TSE:6501) announced that, pursuant to the provisions of Article 211-3 of the Commercial Code of Japan, it will acquire its own shares from a subsidiary as follows:
| 1. Name of subsidiary: Hitachi Unisia Automotive, Ltd. |
| 2. Reason for acquisition: |
Upon the exchange of shares between Hitachi, Ltd. and Hitachi Unisia Automotive, Ltd. (Hitachi Unisia) on October 1, 2002, shares of Hitachi, Ltd. were allocated to shares of Hitachi Unisia held by such company. Hitachi, Ltd. will purchase such shares in conformity with the Commercial Code of Japan. |
| 3. Details of acquisition: |
-Class of shares to be acquired: Common stock of Hitachi, Ltd.
-Number of shares to be acquired: Up to 18,000 shares
-Acquisition amount: Up to 9 million yen
Hitachi, Ltd. will execute the purchase without delay.
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| Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice. |
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