OREANDA-NEWS. Hitachi's consolidated revenues for the first half of fiscal 2013 increased 3% year over year to 4,470.6 billion yen. This increase was due mainly to higher revenues year over year in the Social Infrastructure & Industrial Systems Segment primarily resulting from strong sales of elevators and escalators in China; in the Information & Telecommunication Systems Segment, due to strong services revenues; and in the Digital Media & Consumer Products Segment, due to growth in sales of air-conditioning equipment and home appliances, particularly overseas. Conversely, revenues declined year over year in the Power Systems Segment because of lower revenues in the nuclear power generation systems business in Japan.

Hitachi posted operating income of 173.4 billion yen, up 9.8 billion yen from the first half of fiscal 2012. This result mainly reflected higher year over year operating income in the High Functional Materials & Components Segment, due mainly to a recovery in automobile-related markets and the benefits of business structure reforms, and an improvement in the Construction Machinery and Information & Telecommunication Systems segments. Operating income declined in the Electronic Systems & Equipment and Power Systems segments in line with lower revenues.

EBIT increased 17.9 billion yen year over year to 142.0 billion yen. Hitachi posted net other deductions of 37.9 billion yen, a 9.4 billion yen improvement year over year. This was mainly the result of improved equity in net earnings of affiliated companies and effect of foreign exchange movements.

However, Hitachi posted the fine due to violations of U.S. antitrust laws, which Hitachi Automotive Systems, Ltd. - subsidiary of Hitachi -- has agreed to pay with the United States Department of Justice, in the amount of 195 million U.S. dollars (19.0 billion yen) on other deductions.

As a result, Hitachi recorded income before income taxes of 135.5 billion yen, up 19.2 billion yen year over year. After deducting taxes of 66.1 billion yen, Hitachi posted net income of 69.3 billion yen, up 3.8 billion yen year over year. After deducting net income attributable to noncontrolling interests of 36.5 billion yen, Hitachi posted net income attributable to Hitachi, Ltd. stockholders of 32.7 billion yen, up 2.6 billion yen year over year.

For the second quarter of fiscal 2013, the three months ended September 30, 2013, consolidated revenues were up 7% year over year to 2,387.7 billion yen. Operating income increased 17.9 billion yen year over year to 117.9 billion yen with all segments recording profits, with the exception of the Digital Media & Consumer Products Segment.

EBIT increased 11.6 billion yen year over year to 83.4 billion yen, mainly reflecting higher operating income. Hitachi posted net income attributable to Hitachi, Ltd. stockholders of 21.9 billion yen, a 1.1 billion yen decline year over year.