Tokyo, February 28, 2023 –Hitachi Construction Machinery Co., Ltd. (TSE: 6305 President and Executive Officer: Kotaro Hirano, "Hitachi Construction Machinery") today announced that the company will sequentially increase selling prices of all construction machinery products for the global market starting in April 2023.
Hitachi Construction Machinery has been making efforts in cost reduction activities in response to the impact of rising energy costs such as electricity and gas, continuous raw material price hikes due to disruptions in the global supply chain, and increasing logistics costs.
We have implemented price revision in 2022 for all of our construction equipment products. We have decided to implement another price revisions for all construction machinery products out of necessity, as the impact of further cost increases in the global market, is beyond the scope of corporate efforts to address.
The main details of the revision of the selling price are as follows.
1. Applicable products and selling price increase rate
Average price increase of 8% for all products of construction and mining machinery for the global market
2. Timing of selling price revision implementation
From April 2023 in sequence