Yokogawa's President and CEO, Isao Uchida, announced a new corporate vision and strategy that will guide Yokogawa Group into the twenty-first century. Entitled VISION-21 and ACTION-21 , the new corporate strategy identifies long-term business objectives that will reshape the business structure of the company and broaden its scope to better serve customers needs.

"Since its founding in 1915, Yokogawa has remained committed to providing the highest quality solutions and leading edge technologies in the fields of industrial automation and test & measurement," noted Mr. Uchida. "But we have entered a new era of industry. Enterprises are searching for the most effective corporate operations by integrating all information systems - including process control, plant management and general business systems. We recognized this paradigm shift in 1997 when we first announced our commitment to provide Enterprise Technology Solutions - a complete, flexible and open business approach that effectively manages all elements of the enterprise."

With the introduction of VISION-21, Yokogawa is moving further in the direction of an Enterprise Technology Solutions Servicing Company. "ACTION-21 is an exciting concept for our company," said Uchida. "Our goal is to realize the powerful YOKOGAWA brand in the world market in any of the three business domains; industrial automation, test and measurement and information by Year 2005."

The Yokogawa Group will further increase its competitiveness in industrial automation by concentrating on more profitable operations, while allocating resources to newly emerging business such as information technology.

"To do this, Yokogawa will utilize our full strength; namely our invaluable customer base throughout the world, incomparable capabilities in system integration, and accumulated industry knowledge and expertise," said Uchida.