# Who does Hitachi pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/hitachi · Facet: suppliers · Updated: 2026-10-14T20:23:20.853+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Hitachi discloses no named confirmed suppliers/cost counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 cost edges, backed by 2 dated sources, 1 of them primary filings (as of 2026-10-14).

### 히타치건설기계 (high)  → /hitachi-construction-machinery.md
- metric: Market share 18.36% · FY2025 · ownership excluding treasury shares
- note: Hitachi sold 15 million Hitachi Construction Machinery shares in November 2025, reducing ownership from 25.42% to 18.36%. HCM ceased to be an equity-method associate, while Hitachi remained its second-largest shareholder with 39.062 million shares at March 31, 2026.
- [confirms] Hitachi Construction Machinery (EN, filing, published 2026-03-31) https://www.hitachicm.com/global/en/ir/stock-and-bond/information/: "Hitachi held 39.062 million HCM shares, or 18.36%, at March 31, 2026."
- [confirms] Hitachi, Ltd. (EN, filing, published 2026-01-29) https://www.hitachi.com/New/cnews/month/2026/01/260129/2025_3Q.pdf: "The sale of 15 million shares reduced ownership from 25.4% to 18.4%, and HCM ceased to be an equity-method associate."
- [confirms] Hitachi Construction Machinery (EN, filing, published 2025-09-30) https://www.hitachicm.com/content/dam/hitachicm/global/en/sustainability/download/docs/ir2025/all-version-pdf/ir2025_all_en.pdf: "Hitachi, Ltd. disclosed a 25.42% holding."
- [confirms] The Japan Times (EN, news, published 2022-01-14) https://www.japantimes.co.jp/news/2022/01/14/business/hitachi-construction-sale/: "Hitachi sells half its construction-machinery stake to ~26%, making it an equity-method affiliate."

### JCH (히타치 40% 출자 공조 합작, 2025 보쉬 매각으로 청산) (high)
- note: The Johnson Controls-Hitachi Air Conditioning JV (JCH) in which Hitachi held 40% — sold to Bosch alongside JCI's stake in July 2025, exiting Hitachi from the AC joint venture too.
- [confirms] HPAC Magazine (EN, news, published 2025-08-01) https://www.hpacmag.com/heating-plumbing-air-conditioning-general/bosch-completes-acquisition-of-johnson-controls-hvac-business/1004145415/: "The Johnson Controls-Hitachi Air Conditioning JV (Hitachi 40%) was sold to Bosch."

### 히타치 하이테크 (high)  → /hitachi-hightech.md
- note: The wholly-owned subsidiary that links the graph to the semiconductor cycle — Hitachi took Hitachi High-Tech fully private via a 2020 tender offer (¥8,000/share, ~¥531.1bn) and delisted it, folding its measurement/analysis business into Connective Industries. The stake is not a mere investment but a structural link that broadens Hitachi's growth exposure from power grids into the semiconductor fab-capex cycle.
- [mentions] Hitachi (EN, filing, published 2026-04-27) https://www.hitachi.com/content/dam/hitachi/global/en/press/files/2026/04/260427/2025_An.pdf: "Hitachi High-Tech (Measurement & Analysis Systems) is reported within the Connective Industries segment."
- [confirms] Hitachi, Ltd. (EN, news, published 2020-02-14) https://www.hitachi.com/en/press/articles/2020/02/0214/: "Hitachi takes Hitachi High-Tech wholly owned via tender offer; delisted from TSE."

### 변압기 원자재·부품 공급망 (전기강판·구리·부싱·OLTC) (mid)
- note: Key inputs for Hitachi Energy transformer/HVDC ramp — grain-oriented electrical steel, copper, insulation, bushings and tap changers. Component capacity investments (e.g. Alamo, Tennessee) expand procurement to serve a surging order backlog ($57.9bn).
- [mentions] Hitachi (EN, filing, published 2026-04-27) https://www.hitachi.com/content/dam/hitachi/global/en/press/files/2026/04/260427/2025_An.pdf: "Energy sector growth driven by strong demand for transmission equipment and execution of order backlog (FY2025)."
- [confirms] Hitachi Energy (EN, ir, published 2025-08-01) https://www.hitachienergy.com/news-and-events/press-releases/2025/08/hitachi-energy-invests-106-million-usd-to-expand-transformer-component-manufacturing-capacity-at-facility-in-alamo-tennessee: "$106M investment to expand transformer component (HVDC bushing) manufacturing capacity."

### 반도체·전자부품·강재 공급망 (mid)
- note: Semiconductors, electronic parts, steel and drivetrain components for IT systems, industrial equipment, measurement tools and rolling stock. Broad, diversified supplier base across the conglomerate portfolio.
- [mentions] Hitachi (EN, filing, published 2026-04-27) https://www.hitachi.com/content/dam/hitachi/global/en/press/files/2026/04/260427/2025_An.pdf: "Four sectors (DSS, Energy, Mobility, Connective Industries) manufacture across IT, power, rail and industrial products."

Reverse side: https://valuechain.wiki/hitachi/customers.md · Ripple: https://valuechain.wiki/hitachi/ripple.md

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