Global Machinery: Takeaways from Call with COO of Hitachi Construction Machinery Americas

研报英文原文证据摘录

Global Machinery: Takeaways from Call with COO of Hitachi Construction Machinery Americas

Flash |

30 Jun 2026 04:00:08 ET │ 11 pages

Global Machinery

Takeaways from Call with COO of Hitachi Construction Machinery

Americas

CITI'S TAKE

On 6/26, we hosted a call with Simon Wilson, COO of Hitachi

Construction Machinery Americas (HCM). HCM continues to focus on

growing its presence in North America, driven by investments it is making Kyle MengesAC

in its dealer network, which Mr. Wilson characterized as being amongst +1-212-816-1817

the top tier networks. HCM’s re-brand to LANDCROS (effective April 1, kyle.menges@citi.com

2027) was of focus, which should come with expansion across its product Graeme McDonaldAC

portfolio, likely via partnerships with other brands in North America. +81-3-6776-4614

Demand trends remain largely positive, particularly in heavy CE where graeme.mcdonald@citi.com

HCM is seeing strengthening order books and elongating lead times, while

compact CE remains a bit more muted. Despite tariff headwinds and Randy Marker

OEMs attempting to pass through pricing to offset, Mr. Wilson highlighted +1-212-816-3537

randy.marker@citi.com that pricing in the market is starting to stick in heavy CE as demand is

outpacing expectations. Lastly, it sounds like management remains

committed to its Japan-based manufacturing strategy.

Focus on Dealer Network -- Growing and strengthening its dealer network has been

a core focus for HCM in North America, particularly since the termination of its JV

with DE in 2022. On that point, we note that HCM signed a five year agreement with

DE to continue shipping excavators to DE (comprised 1/3 if of HCM's total American

revenues last year), which could be in question with DE bringing more of its

excavator production in-house.