Hitachi CEO Pro Quake will cause corporate profits to fall sharply

Beijing Time April 6 Evening News, Hitachi said in Wednesday, Japan's earthquake and tsunami caused its factories seriously damaged, electricity and production disruptions, which may lead to a sharp decline in corporate profits.　　Hitachi is one of the three major manufacturers of Fudao nuclear reactors in Japan. Hiroaki Nakanishi, Hitachi President Cheng Sihongming, said in Wednesday: "We are not yet able to provide detailed revenue data, I apologize for this, we need about 6 months to calculate the loss."　　Xi Hongming also said the company would reconsider its nuclear business plan. Hitachi, a builder of the No. 4th nuclear reactor at the Fudao nuclear power plant, has lost 18% of its market capitalisation at 6 factories in northern Japan after the great earthquake.　　Hitachi's net profit forecast for fiscal year 2010 was set to increase by 15% this February to 230 billion yen (about $2.7 billion trillion), while the previous fiscal year lost 107 billion yen (about 1.26 billion dollars). Hitachi is Japan's second largest nuclear reactor builder, after the Fudao nuclear power plant accident, the Chinese and western HM said Hitachi will reconsider the nuclear business plan. "It will be difficult to build a nuclear power plant in the future to get the support of the Japanese people, but it is impossible for Japan to completely abandon its use of nuclear power," Xi Hongming said. "(Li Ming)