After projecting a record loss of 700 billion yen for the year to March 31, Hitachi Ltd is already on its way to work a turn around! The Japanese manufacturer is planning two chief moves - replacing its president, and separating its automotive systems and consumer-goods businesses.

According to the Tokyo-based company, April 1 onwards, Hitachi Plant Technologies chairman Takashi Kawamura will take over as the company's president and chairman; while the present president Kazuo Furukawa will become the vice chairman.

Commenting on the Hitachi move of replacing its president, senior analyst Takeo Miyamoto, of Deutsche Securities, said: "You could say the appointment is an acknowledgement of the importance of heavy industry to Hitachi's business."

With the July 1 move of separating its two businesses, Hitachi plans to focus on auto systems associated with the environment and safety, at the same time as using collaborations for products like mobile phones and optical disk drives.

Hitachi's automotive systems group would comprise small-size motors, lithium-ion batteries, and inverters. The company expects the business, which would be employing
2,700 workers, to yield total revenue of 280 billion yen next fiscal year.

On the other hand, Hitachi's anticipates nearly 160 billion yen sales at the consumer operations unit, which would employ 750 workers, and comprise mobile phones, plasma TVs, and LCDs for industrial use.