<p>日立正在进一步简化其投资组合，因为这家日本工业电子制造商计划出售其在日立建机（HTCMF）剩余股份的显著部分。知情人士表示，日立希望通过大宗交易出售约 8% 的日立建机股份，有人指出，基于该机械公司的市值，这一金额可能在 1000 亿日元左右。彭博社看到的交易条款显示，日立提供 1760 万股，价格在 5062 到 5171 日元之间，较周二的收盘价折扣为 5% 到 7%，此次出售的总价值可能高达 910 亿日元。根据这些人士的说法，交易可能在周二尽快宣布，而美银证券、大和证券和摩根大通则作为联合账簿管理人参与其中。</p>
<p>此次可能的出售紧随日立在 11 月的前一次大宗交易，并且在上周 180 天的锁定期结束后进行，该锁定期限制了额外的股份销售。如果交易完成，日立在日立建机的持股比例将降至约 10%，这标志着公司在向 IT 服务和能源等核心业务转型过程中的又一步。日立已经在这一重新定位过程中削减资产，其退出亏损业务被视为日本企业更广泛转型的一部分。上个月，该公司还同意将其家电业务出售给电子零售商野岛公司，这进一步表明管理层正在继续简化投资组合。</p>
<p>对于投资者而言，这笔交易可能再次提醒人们，大型日本公司正在更快地解除遗留持股，因为资本效率和交叉持股的压力不断增加。日立建机的股价在东京下跌了最多 8.7%，随后收窄损失，最终下跌 4.1%，而日立则下滑 0.4%。日立和日立建机的代表未能立即对此作出评论。更广泛的背景也很重要：随着公司寻求更快、更灵活的方式出售持股，大宗交易在日本逐渐受到关注，去年此类交易的总额达到至少 1.4 万亿日元，创下自 2002 年以来彭博社编制数据的最高水平。</p>

6501

6305

<p>日立计划通过大宗交易出售其在日立建机中约 8% 的股份，估计价值高达 910 亿日元。这项销售可能很快会被宣布，此举是在之前交易和锁定期结束之后进行的。此举是日立战略的一部分，旨在精简其投资组合，专注于 IT 服务和能源等核心业务。该公司的股票已经出现下滑，反映了日本企业在资本效率和资产清算方面的整体趋势</p>

<p>Hitachi is moving further into portfolio streamlining as the Japanese industrial electronics maker looks to sell a significant portion of its remaining stake in Hitachi Construction Machinery (HTCMF). People familiar with the matter said Hitachi was looking to offload about 8% of Hitachi Construction Machinery shares through block trades, with one person indicating the amount could be around 100 billion based on the machinery company's market value. Deal terms seen by Bloomberg News later showed Hitachi offering 17.6 million shares at 5,062 to 5,171 each, a 5% to 7% discount to Tuesday's closing price, with the sale worth as much as 91 billion. The transaction could be announced as soon as Tuesday, according to the people, while BofA Securities, Daiwa Securities and JPMorgan are acting as joint bookrunners, according to the termsheet.</p>
<div class="lb-trans"><p>日立正在进一步简化其投资组合，因为这家日本工业电子制造商计划出售其在日立建机（HTCMF）剩余股份的显著部分。知情人士表示，日立希望通过大宗交易出售约 8% 的日立建机股份，有人指出，基于该机械公司的市值，这一金额可能在 1000 亿日元左右。彭博社看到的交易条款显示，日立提供 1760 万股，价格在 5062 到 5171 日元之间，较周二的收盘价折扣为 5% 到 7%，此次出售的总价值可能高达 910 亿日元。根据这些人士的说法，交易可能在周二尽快宣布，而美银证券、大和证券和摩根大通则作为联合账簿管理人参与其中。</p>
</div><p>The possible sale comes shortly after Hitachi's previous block trade in November and follows the expiration last week of a 180-day lockup that had restricted additional share sales. If completed, the disposal would reduce Hitachi's stake in Hitachi Construction Machinery to about 10%, marking another step in the company's broader shift toward core businesses such as IT services and energy. Hitachi has already been trimming assets as part of that repositioning, and its exit from loss-making operations has been viewed as part of corporate Japan's wider transformation. The company also agreed last month to sell its home appliances business to electronics retailer Nojima Corp., adding another sign that management is continuing to simplify the portfolio.</p>
<div class="lb-trans"><p>此次可能的出售紧随日立在 11 月的前一次大宗交易，并且在上周 180 天的锁定期结束后进行，该锁定期限制了额外的股份销售。如果交易完成，日立在日立建机的持股比例将降至约 10%，这标志着公司在向 IT 服务和能源等核心业务转型过程中的又一步。日立已经在这一重新定位过程中削减资产，其退出亏损业务被视为日本企业更广泛转型的一部分。上个月，该公司还同意将其家电业务出售给电子零售商野岛公司，这进一步表明管理层正在继续简化投资组合。</p>
</div><p>For investors, the deal could be another reminder that large Japanese companies are moving more quickly to unwind legacy holdings as pressure grows around capital efficiency and cross-shareholdings. Hitachi Construction Machinery shares dropped as much as 8.7% before paring losses to close down 4.1% in Tokyo, while Hitachi slipped 0.4%. Representatives for both Hitachi and Hitachi Construction Machinery were not immediately available to comment. The broader backdrop is also important: block trades have been gaining traction in Japan as companies look for quicker and more flexible ways to sell holdings, with such transactions reaching at least 1.4 trillion last year, the highest level on record in Bloomberg-compiled data going back to 2002.</p>
<div class="lb-trans"><p>对于投资者而言，这笔交易可能再次提醒人们，大型日本公司正在更快地解除遗留持股，因为资本效率和交叉持股的压力不断增加。日立建机的股价在东京下跌了最多 8.7%，随后收窄损失，最终下跌 4.1%，而日立则下滑 0.4%。日立和日立建机的代表未能立即对此作出评论。更广泛的背景也很重要：随着公司寻求更快、更灵活的方式出售持股，大宗交易在日本逐渐受到关注，去年此类交易的总额达到至少 1.4 万亿日元，创下自 2002 年以来彭博社编制数据的最高水平。</p>
</div>

Hitachi Plans 91 Billion Stake Sale As Machinery Shares Drop

GuruFocus

Hitachi,Ltd.

Hitachi Construction Machinery Co., Ltd.

日立(ADR)

Hitachi Metals, Ltd.

Hitachi Zosen Corporation

美国银行

Daiwa Securities Group Inc.

摩根大通

Nojima Co Ltd

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

日立计划出售价值 910 亿的股份，因机械类股票下跌