<p>日立正在進一步簡化其投資組合，因為這家日本工業電子製造商計劃出售其在日立建機（HTCMF）剩餘股份的顯著部分。知情人士表示，日立希望通過大宗交易出售約 8% 的日立建機股份，有人指出，基於該機械公司的市值，這一金額可能在 1000 億日元左右。彭博社看到的交易條款顯示，日立提供 1760 萬股，價格在 5062 到 5171 日元之間，較週二的收盤價折扣為 5% 到 7%，此次出售的總價值可能高達 910 億日元。根據這些人士的説法，交易可能在週二儘快宣佈，而美銀證券、大和證券和摩根大通則作為聯合賬簿管理人蔘與其中。</p>
<p>此次可能的出售緊隨日立在 11 月的前一次大宗交易，並且在上週 180 天的鎖定期結束後進行，該鎖定期限制了額外的股份銷售。如果交易完成，日立在日立建機的持股比例將降至約 10%，這標誌着公司在向 IT 服務和能源等核心業務轉型過程中的又一步。日立已經在這一重新定位過程中削減資產，其退出虧損業務被視為日本企業更廣泛轉型的一部分。上個月，該公司還同意將其家電業務出售給電子零售商野島公司，這進一步表明管理層正在繼續簡化投資組合。</p>
<p>對於投資者而言，這筆交易可能再次提醒人們，大型日本公司正在更快地解除遺留持股，因為資本效率和交叉持股的壓力不斷增加。日立建機的股價在東京下跌了最多 8.7%，隨後收窄損失，最終下跌 4.1%，而日立則下滑 0.4%。日立和日立建機的代表未能立即對此作出評論。更廣泛的背景也很重要：隨着公司尋求更快、更靈活的方式出售持股，大宗交易在日本逐漸受到關注，去年此類交易的總額達到至少 1.4 萬億日元，創下自 2002 年以來彭博社編制數據的最高水平。</p>

6501

6305

<p>日立計劃通過大宗交易出售其在日立建機中約 8% 的股份，估計價值高達 910 億日元。這項銷售可能很快會被宣佈，此舉是在之前交易和鎖定期結束之後進行的。此舉是日立戰略的一部分，旨在精簡其投資組合，專注於 IT 服務和能源等核心業務。該公司的股票已經出現下滑，反映了日本企業在資本效率和資產清算方面的整體趨勢</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>日立正在進一步簡化其投資組合，因為這家日本工業電子製造商計劃出售其在日立建機（HTCMF）剩餘股份的顯著部分。知情人士表示，日立希望通過大宗交易出售約 8% 的日立建機股份，有人指出，基於該機械公司的市值，這一金額可能在 1000 億日元左右。彭博社看到的交易條款顯示，日立提供 1760 萬股，價格在 5062 到 5171 日元之間，較週二的收盤價折扣為 5% 到 7%，此次出售的總價值可能高達 910 億日元。根據這些人士的説法，交易可能在週二儘快宣佈，而美銀證券、大和證券和摩根大通則作為聯合賬簿管理人蔘與其中。</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>此次可能的出售緊隨日立在 11 月的前一次大宗交易，並且在上週 180 天的鎖定期結束後進行，該鎖定期限制了額外的股份銷售。如果交易完成，日立在日立建機的持股比例將降至約 10%，這標誌着公司在向 IT 服務和能源等核心業務轉型過程中的又一步。日立已經在這一重新定位過程中削減資產，其退出虧損業務被視為日本企業更廣泛轉型的一部分。上個月，該公司還同意將其家電業務出售給電子零售商野島公司，這進一步表明管理層正在繼續簡化投資組合。</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>對於投資者而言，這筆交易可能再次提醒人們，大型日本公司正在更快地解除遺留持股，因為資本效率和交叉持股的壓力不斷增加。日立建機的股價在東京下跌了最多 8.7%，隨後收窄損失，最終下跌 4.1%，而日立則下滑 0.4%。日立和日立建機的代表未能立即對此作出評論。更廣泛的背景也很重要：隨着公司尋求更快、更靈活的方式出售持股，大宗交易在日本逐漸受到關注，去年此類交易的總額達到至少 1.4 萬億日元，創下自 2002 年以來彭博社編制數據的最高水平。</p>
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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

美國銀行

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

日立計劃出售價值 910 億的股份，因機械類股票下跌