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Millions of Yen Millions of Yen 201420152015201620142016201520142016 Cautionary Statement with Respect to Forward-looking Statements:Statements made in this annual report with respect to the Company s plans and projections as well as other statements that are not historical facts are forward-looking statements, which involve risks and uncertainties. Potential risks and uncertainties include, without limitation, general economic conditions in the Company s markets, exchange rates and the Company s ability to continue to win customers acceptance of its products, which are offered in highly competitive market characterized by continual new product introductions and rapid developments in Total assetsCorporate Name:Head Office:Hitachi Kokusai Electric UDX Building 11th floor,4-14-1 Sotokanda, Chiyoda-ku, Tokyo 101-8980, JapanEstablished:Fiscal Year-end:Accounting Auditor:Paid-in Capital:Employees:URL:November 17, 1949 March 31 Ernst & Young ShinNihon LLC 10,058 million4,980 (consolidated) Review.

tach ousa Eectrc Annua eport 2016 2 A Message from the President In regards to the market environment surrounding Hitachi Kokusai Electric Group (the “Group”) in fiscal 2015, the

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1 Millions of Yen Millions of Yen 201420152015201620142016201520142016 Cautionary Statement with Respect to Forward-looking Statements:Statements made in this annual report with respect to the Company s plans and projections as well as other statements that are not historical facts are forward-looking statements, which involve risks and uncertainties. Potential risks and uncertainties include, without limitation, general economic conditions in the Company s markets, exchange rates and the Company s ability to continue to win customers acceptance of its products, which are offered in highly competitive market characterized by continual new product introductions and rapid developments in Total assetsCorporate Name:Head Office:Hitachi Kokusai Electric UDX Building 11th floor,4-14-1 Sotokanda, Chiyoda-ku, Tokyo 101-8980, JapanEstablished:Fiscal Year-end:Accounting Auditor:Paid-in Capital:Employees:URL:November 17, 1949 March 31 Ernst & Young ShinNihon LLC 10,058 million4,980 (consolidated) Review.

2 14 Consolidated Statements of Financial Position .. 15 Consolidated Statements of Profit and Loss .. 17 Consolidated Statements of Comprehensive Income .. 18 Consolidated Statements of Changes in 19 Consolidated Statements of Cash Flows .. 21 Notes to Consolidated Financial 23 Independent Auditor s Report .. 62 Consolidated Financial 1A Message from the President .. 2 Directors and Executive 4 Corporate Governance .. 5 Review of 7 Research and 10 Global Network .. 12 Revenues by SegmentTotal 180,740 millionTotal 180,740 millionJapan 91,787 millionNote: The revenues are calculated based on the customers , Adjustmentsand eliminations 959 millionEco- and Thin FilmProcessing 90,563 12,807 millionKorea 25,344 millionTaiwan 19,533 millionEurope and others 10,710 millionOther Asia 20,559 % % % % by RegionVideo and WirelessNetwork 89,218 million Millions of Yen ContentsMillions of Yen (Except as otherwise noted)2016180,740 16,746 12,998 5,739 95,964 RevenuesIncome before income taxesNet income attributable to owners of the parentComprehensive income attributable to owners of the parent Equity attributable to owners of the parent2014165,327 17,581 15,592 18,722 85,042 174,569 Total assets187,147 11,635 (2,351)(7,003)

3 47,567 Net cash provided by operating activities Net cash used in investing activitiesNet cash used in financing activitiesCash and cash equivalents at end of the year 15,644 (4,722)(2,035)57,149 Basic earnings per share (Yen) Equity attributable to owners of the parent (Yen) 2015185,181 19,805 17,471 20,508 94,885 189,283 7,745 (6,700)(13,278)46,870 Net income attributable to owners of the parentNote: The Company has adopted International Financial Reporting Standards (IFRS) for the fiscal year ended March 31, InformationCorporate DataShareholder InformationCommon Share:Number of Common SharesNumber of ShareholdersNumber of Shares per Unit105,221,259 shares7,708100 Stock Listing:Transfer Agent for Shares:Tokyo (1st Section)Tokyo Securities Transfer Agent Co.

4 , , Kanda Nishiki-cho, Chiyoda-ku, 6F Kanda Nishiki-cho 3-chome Building Tokyo 101-0054, JapanPhone: +81-3-6833-3907 Stock Data4,980 4,943 4,976 Number of employeesMajor Shareholders:As of March 31, 2016 Breakdown of Shareholders by Category:Name of ShareholderHitachi, Master Trust Bank of Japan, Ltd.(Trust Account) Japan Trustee Services, Ltd.(Trust Account) GOLDMAN SACHS INTERNATIONALGOLDMAN,SACHS & MSCO CUSTOMER SECURITIES CBNY-GOVERNMENT OF NORWAY53,0704,0873,7541,9751,3721,2801, ofShares Held(thousands)Percentageof Total(%)CHASE MANHATTAN BANK GTS CLIENTS ACCOUNTESCROWBNP PARIBAS SECURITIES SERVICES LUXEMBOURG/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETSSTATE STREET BANK AND TRUST COMPANY505223*The above excludes 2,514 thousands of treasury shares ( ) held by Hitachi Kokusai Electric and on attributable to owners of the parent / Return on Equity (ROE) ( )Ratio of equity attributable to owners of the parent to total assets / Equity Ratio ( )Price earnings ratio (PER) (times)

5 165,327185,181180,74017,47115,592050,000 100,000150,000200,00012,99805,00010,0001 5,00020,000187,174174,569050,000100,0001 50,000200,000189,283 Years Ended March 31 Consolidated Financial Highlights Millions of Yen Millions of Yen 201420152015201620142016201520142016 Cautionary Statement with Respect to Forward-looking Statements:Statements made in this annual report with respect to the Company s plans and projections as well as other statements that are not historical facts are forward-looking statements, which involve risks and uncertainties. Potential risks and uncertainties include, without limitation, general economic conditions in the Company s markets, exchange rates and the Company s ability to continue to win customers acceptance of its products, which are offered in highly competitive market characterized by continual new product introductions and rapid developments in Total assetsCorporate Name:Head Office:Hitachi Kokusai Electric UDX Building 11th floor,4-14-1 Sotokanda, Chiyoda-ku, Tokyo 101-8980, JapanEstablished:Fiscal Year-end:Accounting Auditor:Paid-in Capital:Employees:URL:November 17, 1949 March 31 Ernst & Young ShinNihon LLC 10,058 million4,980 (consolidated) Review.

6 14 Consolidated Statements of Financial Position .. 15 Consolidated Statements of Profit and Loss .. 17 Consolidated Statements of Comprehensive Income .. 18 Consolidated Statements of Changes in 19 Consolidated Statements of Cash Flows .. 21 Notes to Consolidated Financial 23 Independent Auditor s Report .. 62 Consolidated Financial 1A Message from the President .. 2 Directors and Executive 4 Corporate Governance .. 5 Review of 7 Research and 10 Global Network .. 12 Revenues by SegmentTotal 180,740 millionTotal 180,740 millionJapan 91,787 millionNote: The revenues are calculated based on the customers , Adjustmentsand eliminations 959 millionEco- and Thin FilmProcessing 90,563 12,807 millionKorea 25,344 millionTaiwan 19,533 millionEurope and others 10,710 millionOther Asia 20,559 % % % % by RegionVideo and WirelessNetwork 89,218 million Millions of Yen ContentsMillions of Yen (Except as otherwise noted)2016180,740 16,746 12,998 5,739 95,964 RevenuesIncome before income taxesNet income attributable to owners of the parentComprehensive income attributable to owners of the parent Equity attributable to owners of the parent2014165,327 17,581 15,592 18,722 85,042 174,569 Total assets187,147 11,635 (2,351)(7,003)

7 47,567 Net cash provided by operating activities Net cash used in investing activitiesNet cash used in financing activitiesCash and cash equivalents at end of the year 15,644 (4,722)(2,035)57,149 Basic earnings per share (Yen) Equity attributable to owners of the parent (Yen) 2015185,181 19,805 17,471 20,508 94,885 189,283 7,745 (6,700)(13,278)46,870 Net income attributable to owners of the parentNote: The Company has adopted International Financial Reporting Standards (IFRS) for the fiscal year ended March 31, InformationCorporate DataShareholder InformationCommon Share:Number of Common SharesNumber of ShareholdersNumber of Shares per Unit105,221,259 shares7,708100 Stock Listing:Transfer Agent for Shares:Tokyo (1st Section)Tokyo Securities Transfer Agent Co.

8 , , Kanda Nishiki-cho, Chiyoda-ku, 6F Kanda Nishiki-cho 3-chome Building Tokyo 101-0054, JapanPhone: +81-3-6833-3907 Stock Data4,980 4,943 4,976 Number of employeesMajor Shareholders:As of March 31, 2016 Breakdown of Shareholders by Category:Name of ShareholderHitachi, Master Trust Bank of Japan, Ltd.(Trust Account) Japan Trustee Services, Ltd.(Trust Account) GOLDMAN SACHS INTERNATIONALGOLDMAN,SACHS & MSCO CUSTOMER SECURITIES CBNY-GOVERNMENT OF NORWAY53,0704,0873,7541,9751,3721,2801, ofShares Held(thousands)Percentageof Total(%)CHASE MANHATTAN BANK GTS CLIENTS ACCOUNTESCROWBNP PARIBAS SECURITIES SERVICES LUXEMBOURG/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETSSTATE STREET BANK AND TRUST COMPANY505223*The above excludes 2,514 thousands of treasury shares ( ) held by Hitachi Kokusai Electric and on attributable to owners of the parent / Return on Equity (ROE) ( )Ratio of equity attributable to owners of the parent to total assets / Equity Ratio ( )Price earnings ratio (PER) (times)

9 165,327185,181180,74017,47115,592050,000 100,000150,000200,00012,99805,00010,0001 5,00020,000187,174174,569050,000100,0001 50,000200,000189,283 Hitachi Kokusai Electric Annual Report 201612)JtachJ ,oLusaJ EMectrJc AnnuaM 3eport 2016A Message from the PresidentIn regards to the market environment surrounding Hitachi Kokusai Electric Group (the Group ) in fiscal 2015, the United States economy remained strong, but there was a slowdown in the Chinese economy and a downturn in the economies of emerging nations like Brazil. This meant that the overall situation continued to remain fluid. In addition, while the Japanese economy continued to make a gradual recovery, the situation deteriorated from the beginning of the year due to factors such as a strong yen and low stock such circumstances, the Group has promoted policies aimed at expanding our global business and launching new business.

10 Together with this, we proactively tackled business activities toward acquiring orders in Japan and regards to our current operating situation, there has been a reduction in public work sector investment in Japan and a decrease in DRAM-related investment by semiconductor manufacturers. This led to a year-on-year decrease in orders of to 162,626 million yen and a year-on-year decrease in revenues of to 180,740 million yen. In addition to a decrease in revenues, the development of unprofitable projects led to a year-on-year decrease in operating income of to 16,149 million yen and a year-on-year decrease in net income attributable to shareholders of parent company of to 12,998 million mission of the Group is to be a social innovator trusted by customers and creating new value in the next era in line with our Medium-term Management Plan HK-AV10 for fiscal 2010 to fiscal 2015.


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