The Hitachi Foundation

The Hitachi Foundation was an independent nonprofit philanthropic organization founded by Hitachi, Ltd. in 1985. Its mission was to integrate business actions and societal well-being in North America, focusing on discovering and expanding business practices that create economic opportunities for low-wealth Americans while enhancing business value[1][5].

Purpose and Activities

The foundation's purpose was to explore and promote socially sustainable business practices and corporate citizenship. It operated under an independent Board of Directors composed of distinguished Americans, ensuring its autonomy and ability to innovate in philanthropic efforts[1]. The Hitachi Foundation's strategic focus included investments that improved economic opportunities for low-income families and communities in the United States[1].

Good Companies, Good Jobs Strategy

In 2016, The Hitachi Foundation launched the Good Companies, Good Jobs Strategy, aimed at promoting business practices that support good jobs and worker rights. As part of this initiative, the foundation made three final gifts totaling $11 million to The Aspen Institute, the MIT Sloan School of Management, and Investors' Circle. This strategy marked the foundation's transition as it ceased operations in December 2016[2].

Closure and Legacy

The Hitachi Foundation closed on December 31, 2016, as Hitachi, Ltd. realigned its global corporate social responsibility programs to be more region-specific and aligned with Social Innovation initiatives[2]. The foundation's efforts have had a lasting impact on societal and economic development in the United States, particularly in the realms of social entrepreneurship and sustainable business practices[2].

Suspended Operations

Following its closure, The Hitachi Foundation's legacy continues through the initiatives and organizations it supported. Its work remains significant in the context of corporate social responsibility and socially responsible business practices[2].