January 31, 2012 / 6:38 PM / 6 years ago

Hitachi's Q3 operating profit may fall 33 percent: report

(Reuters) - Japanese conglomerate Hitachi Ltd might post a 33 percent fall in its operating profit for the three months ended December, hurt by a strong yen and weak sales, business daily The Nikkei reported.

A Hitachi logo is seen at an electronics shop in Tokyo August 4, 2011. REUTERS/Kim Kyung-Hoon

The company is expected to report operating profit of about 80 billion yen ($1.05 billion) for the quarter, the daily said.

It had posted a 9 percent dip in its operating profit in the quarter ended September 2011, the paper said.

For the nine months ended December, operating profit may decline by 26 percent to 250 billion yen ($3.28 billion), the newspaper said.

Sales of air conditioners, especially in Europe, fell short of Hitachi’s expectations and the demand for LCD televisions and personal computers declined in the industrialized countries, hurting its earnings from electronics-materials-related businesses, the paper said.

Demand for construction machinery also slowed for Japan’s biggest industrial electronics firm due to a drop in construction projects in China, Nikkei reported.

However, earnings from Hitachi’s automobile-related operations have remained stable due to consistent demand from Nissan Motor Co, the daily said.

Reporting by Eileen Anupa Soreng in Bangalore; Editing by Sreejiraj Eluvangal

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