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Hitachi to cut $5.1 bln in costs, shuffle management

  Hitachi Ltd said on Monday it would cut ¥500 billion ($5.1 billion) in costs next business year via restructuring steps including splitting off its automotive system and consumer business units.

Hitachi also said Takashi Kawamura, chairman of Hitachi Plant Technologies, will become its president and chairman in April, and current president Kazuo Furukawa will become vice chairman. (Reuters)