Hitachi to invest in ‘social innovation’

Hitachi Ltd. said Monday it will invest 1 trillion yen ($11 billion), or about 70% of its capital expenditure over the next three years, on its “social innovation” businesses, which include its information technology and infrastructure-related operations.

The plan underlines the Japanese electronics giant’s strategy for long-term growth, as it looks to move its focus away from gadgets and appliances toward areas with stronger earnings potential such as power plants and railway systems.

[Wall Street Journal]