Hitachi Construction Machinery to Adopt International Financial Reporting Standards (IFRS)

Hitachi Construction Machinery Co., Ltd. (TSE: 6305, “Hitachi Construction Machinery”) today announced its plan to voluntarily adopt International Financial Reporting Standards (IFRS) in place of the traditional Japanese accounting standard (JGAAP). The decision was made at the Board of Directors meeting held January 28. Hitachi Construction Machinery plans to apply IFRS to the presentation of the consolidated financial statements in its annual securities report for the fiscal year ending March 31, 2015 (from April 1, 2014 to March 31, 2015).

Hitachi Construction Machinery Group has been actively promoting global business development. It aims to further increase its corporate value by building a management foundation that can increase management transparency, accelerate management enhancement and governance reinforcement. As part of these efforts and for the purpose of improving the international comparability of financial statements in the capital markets, Hitachi Construction Machinery introduces IFRS as a global accounting standard and unifies the accounting methods within the group. 

Disclosure schedule for the fiscal year ending March 31, 2015 (Planned) is as follows.