Mr. Yosuke Nakanishi

Yosuke Nakanishi Named President of Hitachi Electronic Devices (USA), Inc.

In announcing the action, Yosuke Nakanishi, president and chief executive officer of Hitachi Electronic Devices (USA) Inc., said, "Changes in our markets have been dramatic and have necessitated a change in our manufacturing focus in the Greenville plant in order to improve the outlook for our operations.These market conditions have dictated that we concentrate on tubes for large screen projection TVs, where we are the world's market leader and where there is strong future growth potential.As a result, the production of direct view color TV tubes is being phased out."

"The action will be effective by the end of April, 2002 and the affected employees will be given severance commensurate with years of service and health care coverage options.We are committed to the viability of our plant, and that means aggressively addressing the realities of the marketplace and seeking new opportunities to expand our business in profitable new markets.We are equally committed to taking care of our people as they make this difficult transition," said Mr. Nakanishi.
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President & CEO: Yosuke Nakanishi

Nakanishi, who has been president of the Greenville company since May 2000.Nakanishi has been named corporate executive officer of Hitachi High Technologies in Japan.

Shibuya, who joined Hitachi in 1973, previously was a member of the board of directors and executive project manager of Global Electronic Devices Group, Hitachi Display, in Japan.He graduated from Shizuoka University with a master's degree in electrical engineering.

Yosuke Nakanishi, president and CEO of Hitachi Electronic Devices (USA), said, "Changes in our markets have been dramatic and have necessitated a change in our manufacturing focus in the Greenville plant in order to improve the outlook for our operations.These market conditions have dictated that we concentrate on tubes for large screen projection TV receivers.As a result, the production of direct view color TV receiver tubes is being phased out."

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Yosuke Nakanishi Named President of Hitachi Electronic Devices (USA), Inc.Hitachi: Yosuke Nakanishi Named President of Hitachi Electronic Devices (USA), Inc.
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Yosuke Nakanishi Named President of Hitachi Electronic Devices (USA), Inc.

May 12, 2000 09:18 AM

BRISBANE, Calif., GREENVILLE, S.C. and ATLANTA, Ga.-- May 12, 2000-- Hitachi America, Ltd., a subsidiary of Hitachi, Ltd, (NYSE:HIT), today announced the appointment of Yosuke Nakanishi as president of Hitachi Electronic Devices (USA), Inc., a subsidiary of Hitachi America, Ltd., effective May 31, 2000.

Mr. Nakanishi succeeds Kenichi Fukuzawa, who has been named president of Hitachi Electronic Devices (Singapore) Pte.
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Mr. Nakanishi most recently was executive vice president of Hitachi Electronic Devices (USA), Inc., a position he has held since April 1998.Previously he was general manager of electronic devices International Sales Division of Hitachi, Ltd. in Tokyo.

Mr. Nakanishi holds a BS degree in Law and has been engaged in the marketing and sales of electronic devices for more than twenty years.

The color picture tube division will close by the end of April and employees will be given severance packages and health care options, president and chief executive Yosuke Nakanishi said.

The company makes a range of electronics, computer systems and consumer electronics.

Hitachi warned Thursday that its full-year net loss is expected to reach 480 billion yen (dlrs 3.58 million), a more than double the losses previously forecast.

The company said restructuring costs and weak sales of computer chips and displays, electronics materials, telecommunications equipment would account for the bigger-than-expected losses.It also cited lower revenues from construction machinery and industrial equipment.

In announcing the action, Yosuke Nakanishi, president and chief executive officer of Hitachi Electronic Devices (USA) Inc., said, ``Changes in our markets have been dramatic and have necessitated a change in our manufacturing focus in the Greenville plant in order to improve the outlook for our operations.These market conditions have dictated that we concentrate on tubes for large screen projection TVs, where we are the world's market leader and where there is strong future growth potential.As a result, the production of direct view color TV tubes is being phased out.''

``The action will be effective by the end of April, 2002 and the affected employees will be given severance commensurate with years of service and health care coverage options.We are committed to the viability of our plant, and that means aggressively addressing the realities of the marketplace and seeking new opportunities to expand our business in profitable new markets.We are equally committed to taking care of our people as they make this difficult transition,'' said Mr. Nakanishi.

The company will be pursuing new-product opportunities that will enhance the company operations.

Hitachi Electronic Devices (USA) Inc., a subsidiary of Hitachi America, Ltd., manufactures and markets electron tubes, projection tubes, and LCD display components.The Greenville plant was established in 1990.

Hitachi America, Ltd. markets and manufactures a broad range of electronics, computer systems and products, consumer electronics and semiconductors, and provides industrial equipment and services throughout North America.
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& CEO: Yosuke Nakanishi