Hitachi to sell about half its stake in construction unit: NHK report

Japan's Hitachi Ltd will sell about half its 51% stake in unit Hitachi Construction Machinery Co to trading firm Itochu Corp and investment fund Japan Industrial Partners, public broadcaster NHK reported on Thursday.

Hitachi will sell the stake for about 200 billion yen ($1.7 billion), according to a Nikkei business daily report, which did not identify the source of the information.

The construction unit's market value at the end of share trading in Tokyo was 753 billion yen. The sale would represent the final tranche of Hitachi's decade-long business portfolio overhaul, following sales of chip-making equipment manufacturer Hitachi Kokusai Electric and chemicals