Hitachi was founded in 1910 by electrical engineer Namihei Odaira in Ibaraki Prefecture. The company’s first product was Japan’s first 4-kilowatt (5 hp) induction motor, initially developed for use in copper mining.
The company began as an in-house venture of Fusanosuke Kuhara’s mining company in Hitachi, Ibaraki. Odaira moved headquarters to Tokyo in 1918. Odaira coined the company’s toponymic name by superimposing two kanji characters: hi meaning “sun” and tachi meaning “rise.
World War II had a significant impact on the company with many of its factories being destroyed by Allied bombing raids, and discord after the war. Founder Odaira was removed from the company and Hitachi Zosen Corporation was spun out. Hitachi’s reconstruction efforts after the war were hindered by a labor strike in 1950. Meanwhile, Hitachi went public in 1949.
Hitachi America, Ltd. was established in 1959. Hitachi Europe, Ltd. was established in 1982. From 2006 to 2010, Hitachi lost US$12.5 billion, the largest corporate loss in Japanese history. This prompted Hitachi to restructure and sell a number of divisions and businesses, a process that is expected to finish in 2021.
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