# If Hitachi moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/hitachi · Facet: ripple · Updated: 2026-10-14T20:23:20.853+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, Hitachi is directly linked to 2 companies (0 supply, 0 revenue, 2 investment relationships) and reaches 4 companies within two hops; the links are backed by 13 dated sources, 5 of them primary filings (as of 2026-10-14).

Hitachi priced the grid rerating early with gains of 75.4% in 2023 and 71.1% in 2024, then slowed to 37.5% in 2025 and 9.5% in 2026. Operations are still running faster than the stock: FY2026 Q1 Energy revenue rose 37% and orders 87%. Former equity-method affiliate Hitachi Construction Machinery is ahead at 15.1% in 2026, though mining capex and ITOCHU's ownership increase also drive that move. Transformer materials and components are the likely next propagation layer, but named suppliers are not disclosed. The lag thesis fails if currency support fades or HVDC execution slips rather than converting the backlog into revenue.

## Supply chain (benefiting)
- T1 Hitachi High-Tech (https://valuechain.wiki/hitachi-hightech.md)
- T1 Hitachi Construction Machinery (https://valuechain.wiki/hitachi-construction-machinery.md)
- T2 Cummins (https://valuechain.wiki/cummins.md)
- T3 United Rentals (https://valuechain.wiki/united-rentals.md)
- T2 Itochu (https://valuechain.wiki/itochu.md)
- T3 Berkshire Hathaway (https://valuechain.wiki/berkshire-hathaway.md)
- T3 CITIC Limited (https://valuechain.wiki/citic-limited.md)

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Full node: https://valuechain.wiki/hitachi.md · JSON: https://valuechain.wiki/hitachi.json