Takeshita T.,Africa and Americas Center |
Kimishima T.,Africa and Americas Center |
Inokuchi M.,Africa and Americas Center |
Kusakabe A.,Africa and Americas Center
Hitachi Review | Year: 2012
OVERVIEW: Although the Federative Republic of Brazil suffered from hyperinflation and external debt problems during the 1980s and 1990s, inflation was finally overcome through the adoption of the "Plano Real" in 1994, whereby the nation's currency, the Real, was linked to the US dollar (a floating exchange rate was subsequently adopted in 1999). Since then, Brazil has enjoyed sustained economic growth, backed up by its extensive natural resources, population, and land area. Hitachi has been doing business in Brazil for more than 70 years, starting with the export of a turbine and generator for the Macabu Hydro Power Plant in 1939, and the establishment of a Brazilian Office in 1940. Entry into the Brazilian market by group companies has further picked up pace since 2010. Also, Brazil was identified as one of 11 nations targeted in the group-wide New Globalization Plan launched in FY 2010, and Hitachi has stepped up its business operations in the country through measures such as holding Brazil Hitachi Exhibition encompassing all group companies.