Hitachi Ltd, a leading maker of electronics and power station equipment, has said that it has promoted Toshiaki Higashihara to the post of the president from senior vice president.

Toshiaki Higashihara will replace Hiroaki Nakanishi who will be now work as the chairman of the company.  Higashihara will assume in the new role from April 1, according to a statement sent to the Tokyo Stock Exchange today.  Nakanishi will also become Hitachi's chief executive officer from April.

The company has been aiming to streamline operations to revive business.  The company has merged its units and cuts costs and television output under Nakanishi in order become more conpetitive in the market.  It is aiming to compete with the likes of Siemens AG and General Electric Co for business in the competitive market conditions.

The company, which is based in Tokyo, has alsready sold its hard-disk drive business and has announced plans to merge the energy-equipment businesses with Mitsubishi Heavy Industries Ltd.  The company is focusing on expanding its infrastructure business and is setting up a factory in the U. K. to build trains after securing a tender.  Its might also open a railcar plant in Germany.

Source: Top News