HDS + Japan: Fiscal 2Q12 (Ended in September) Financial Results

(in ¥ billion)	2Q11	2Q12	6 mo. 11	6 mo. 12	FY 2012 (forecast)
Revenues	84.0	91.0	167.0	175.0	360.0
*Growth*		8%		5%	3%

Hitachi Ltd. announced financial results for the second quarter of fiscal 2012 ended September 30, 2012.

For its storage solutions from HDS and in Japan, sales are better than expected, at $1.157 billion for the period, the highest figure for the company in a second quarter of fiscal year, up 7% on a dollar basis and 8% on a yen basis from the same quarter one year ago. For the first six months, they reach $2.204 billion, up yearly 5%

Without OEM or Japan domestic sales, hardware represented 55%, services 30% and software 15%.

Revenue grew 18% in America, 2% in EMEA and 11% in APAC under the same conditions.

Not including OEM sales, the company said it achieved Y/Y growth across its entire file and content portfolio and hardware business:

Hitachi File and Content portfolio grew in the low one hundreds
Hitachi Content Platform grew in the mid thirties
NAS platform grew in the mid one hundreds
Total hardware revenues grew in the high single digits
Enterprise storage grew in the mid teens
Modular storage grew in the low single digits

Software and service revenue were up in the low teens from the second quarter of fiscal 2011.

Hitachi does not disclose operating profit for its storage business on a quarterly basis, only on a yearly basis. For FY11, the operating profit margin was 8%, and for FY12 it is forecasted to be 8% as well.