TOKYO, Feb 3 (Reuters) - Hitachi Ltd reported a sharp jump in nine-month operating profit as it cut costs and boosted sales in emerging economies, and raised its annual outlook for the second time this year.
The electronics conglomerate, which has battled back after suffering one of the biggest losses in Japanese corporate history two years ago, reported an operating profit of 337.9 billion yen ($4.1 billion) for the nine months ended in December.
That compared with a 41.6 billion yen profit a year earlier.
Hitachi, a sprawling empire of 900 firms that makes everything from washing machines to railway systems and is General Electric's partner in nuclear power, raised its operating profit forecast for the fiscal year ending March 31 to 440 billion yen from 410 billion yen previously.
The forecast is more than the average forecast of 424.6 billion yen in a poll of 20 analysts.
Listed subsidiary Hitachi Construction Machinery Co, which competes with top ranked Caterpillar Inc, last week reported a nearly 12-fold rise in quarterly profit to 10.6 billion yen, powered by robust demand from China and other Asian markets.
Hitachi Ltd, on track to turn its first net profit in five years, is overhauling its operations to focus more on growing infrastructure businesses such as power plants and transportation, while trying to shed unprofitable businesses and those seen as vulnerable to market volatility.
Shares of Hitachi rose about 19 percent in the October-December quarter, outpacing a 9 percent rise in the benchmark Nikkei index. (Reporting by Chris Gallagher; Editing by Vinu Pilakkot and Nathan Layne)