Hitachi To Raise USD 975M By Issuing a Single Preferred Share to KKR Investments

Hitachi Transport System Ltd of Japan announced that it would raise 127.2 billion yen ($975 million) by issuing a single preferred share to majority shareholder KKR & Co.

As an indemnity claim, it will also issue a second class of preferred shares to KKR for 10 billion yen.

Hitachi Transport is set to be delisted on February 24 following a successful tender offer by a private equity firm in the United States.

KKR is a global investment firm that specialises in alternative asset management, capital markets, and insurance.

They aim to generate attractive investment returns as investors with an industrialist vision by taking a patient and disciplined approach, employing high-quality people, pursuing the highest standards of excellence, and aligning our interests with those of our investment partners.

Hitachi, Ltd. is a Japanese multinational conglomerate based in Chiyoda, Tokyo, Japan. It is the parent company of the Hitachi Group and was previously a member of the Nissan zaibatsu, DKB Group, and Fuyo Group of companies before DKB and Fuji Bank merged to form the Mizuho Financial Group. As of 2020, Hitachi's business ranges from IT to infrastructure, including AI, the Internet of Things, and big data.

Hitachi is traded on the Tokyo and Nagoya stock exchanges, and its Tokyo stock exchange listing is a component of the Nikkei 225 and TOPIX Core30 indices. It is ranked 38th in the Fortune Global 500 for 2012 and 129th in the Forbes Global 2000 for 2012.