Hitachi Koki is changing its name to Hikoki next month, as the company says it looks to incorporate “Japanese wisdom” into its core.

Osami Maehara, President and Representative Executive Officer, says the company is applying “heart, technique and physical ability” as it looks to expand its global presence.

The power tools manufacturer was acquired by US holding firm KKR last year, which means its name is changing to Koki Holdings.

Its power tools division is being renamed Hikoki so that it can be easily identified as making power tools, rather than the other products Koki Holdings makes such as vehicles and televisions.

Hikoki recently invested in its existing UK production facilities and a new headquarters in Germany, and created a new website.

It also intends to increase its training facilities and number of staff in the UK, and build more toolbars and showstands.

Maehara said: “Koki Holdings originated in Japan and has conscientiously pursued the path of manufacturing.

“Age-old Japanese wisdom has it that, to accomplish something important, we must apply heart, technique and physical ability.

“We will now engage these essential elements of Japan's cultural DNA as we pursue reliability, technology and growth in building a global organisation, developing our businesses, and continuing to grow into a truly global company.”