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HITACHI KOKUSAI ELECTRIC INC. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED JUNE 30, 2009

Consolidated Quarterly Balance Sheets (Unaudited)

As of June 30, 2009 and March 31, 2009

Balance Sheets
  YEN (millions) U.S.Dollars
(millions)
1Q of FY2009 FY2008 1Q of FY2009
Assets
 Current assets
Cash and deposits
Deposits with Hitachi, Ltd.
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts
 18,127
25,219
18,819
8,509
12,616
5,123
2,487
1,831
(132)		 36,162
12
35,798
7,754
12,880
5,867
2,650
1,681
(186)		 189
263
196
89
131
53
26
19
(1)
Total current assets
 92,605 102,621 965
 Noncurrent assets
 Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Construction in progress
Other, net
13,844
2,224
5,508
180
3,091
13,979
2,397
5,508
295
3,383
144
23
57
2
32
Total property, plant and equipment
 24,849 25,565 259
 Intangible assets
 Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
 1,903

3,529
32
2,402
3,505
(928)		 1,964

3,397
36
2,330
3,573
(941)		 20

37
0
25
37
(10)
Total investments and other assets
 8,541 8,395 89
Total noncurrent assets
 35,295 35,925 368
 Total assets 127,900 138,546 1,332
Summary
  YEN (millions) U.S.Dollars
(millions)
1Q of FY2009 FY2008 1Q of FY2009
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Income taxes payable
Accrued expenses
Provision for product warranties
Notes payable-facilities
Other
9,976
1,417
135
5,572
719
1
4,955
15,222
1,417
206
7,494
926
5
5,317
104
15
1
58
7
0
52
Total current liabilities 22,778 30,588 237
 Noncurrent liabilities
Provision for retirement benefits
Provision for directors' retirement benefits
Deferred tax liabilities
Other
25,794
345
511
286
25,529
343
469
298
269
4
5
3
Total noncurrent liabilities
 26,938 26,640 281
 Total liabilities 49,716 57,229 518
Net assets
 Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
10,058
26,204
45,133
(2,556)
10,058
26,204
48,427
(2,553)
105
273
470
(27)
Total shareholders' equity
 78,839 82,136 821
 Valuation and translation adjustments
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
453
(1,189)
329
(1,258)
5
(12)
Total valuation and translation adjustments
 (735) (928) (8)
 Minority interests 80 110 1
 Total net assets 78,183 81,317 814
Total liabilities and net assets 127,900 138,546 1,332