Summary
Hitachi Medical Corporation, headquartered in Tokyo, Japan, is a leading manufacturer of diagnostic imaging systems, including MRI, CT, PET, X-ray, ultrasound and optical topography systems. The company also provides medical information systems and services. Hitachi Medical is a subsidiary of global electronics giant, Hitachi Group.
Hitachi Medical sells medical systems in Japan, North America, Europe, Asia and other regions. Japan accounts for about 60% of total sales, and overseas markets for the remaining 40%. The North American market is the company's principal international market, accounting for approximately 60% of overseas sales.
Hitachi Medical has nearly 1,500 open MRI systems installed throughout the US and over 3,100 open MRI systems installed worldwide. The company is currently working to expand its product range and establish the Hitachi Medical brand in overseas markets by implementing a product strategy that takes into consideration the characteristics of each region in which it operates.
For the year ended 31st March 2005 (i.e. fiscal 2004), Hitachi Medical reported a 2.8% decline in sales to 119.3 billion (US$1.1 billion). Although the company achieved higher sales of CT systems during the year, this growth was offset by weaker revenue from accessories used with image analysis systems. In addition, operating profit for Hitachi Medical fell by 4.7% to 7.8 billion (US$72.7 million) during the year and net income declined by 34.4% to 2 billion (US$18.8 million).
Medical Device Company Intelligence Reports provide a full review of the company's activities, from its origins to its latest corporate activity, including mergers and acquisitions, agreements, divestitures, major purchasing contracts and litigation. Sections are included on products, international activities and R&D, as well as a full, in-depth five year financial analysis. An introduction to each report and a full table of contents is provided for review. More than 60 Medical Device Company Intelligence Reports are currently available.
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