Hitachi Ltd set a five year business expansion plan targeting an average 26% year-on-year growth in parent current profit and a 6% increase in parent revenue. If it achieves these targets, its parent current profit would jump to $3,135m in the year to March 31, 2001, from an estimated $1,140m this business year, and revenue would rise to $52,256m in 2000-01 from $40,000m 1995-96, the company said. It plans $11,876m in total capital spending in the next five years with the money going mainly on chips, liquid crystal displays and multimedia-related products. It also plans to cut its total workforce to 72,000 by March 2001 from 76,000 as of the end of this month.
