46control computers in Japan. At the time of the merger, the company, which had the top share in Japan in the dierential pressure transmitter and electromagnetic owmeter segments, enjoyed a high reputation for its technology and was one of the three dedicated industrial instrument companies in Japan, along with Yokogawa.Both presidents decided on this merger based on mutual trust and a shared sense of crisis. They aimed to create the world’s top dedicated industrial instrument company, by pulling together capable employees from the two companies and by providing outstanding service to customers that only such specialist companies could provide, thus overtaking the competition.On April 1, 1983, Yokogawa Hokushin Electric Corporation was established. Shozo Yokogawa became president, and Masahiro Shimizu (the former Hokushin president) vice president. The new company started with 5,800 employees and an annual sales target of 120 billion yen.At the start, Shozo Yokogawa emphasized his management philosophy: “One for all, all for one.” He urged former Yokogawa and Hokushin employees to cooperate closely with each other in order to make the merger a success. As expected, harmonization was not easy at rst. Even though the stock swap ratio for the merger had been calculated based on each company's assets and stock price, and was favorable to Yokogawa, management repeatedly made it clear through personnel policies and other measures that the two companies were equally balanced, both in terms of human resources and technology. As a result, the new company started to come together and its performance and market share began to rise.Following the merger, the new company’s sales department opened its oces in the Shinjuku Center Building and the Shinjuku NS Building. New oces and factory buildings were constructed one after another at the headquarters. The Shimomaruko factory, where Hokushin used to be headquartered, was sold o in 1985 and thus the relocation to the new company’s headquarters was completed.In 1986, the company name was changed to Yokogawa Electric Corporation to strengthen the corporate identity. The YEW trademark was also changed to the current symbol and brand logo, which people worldwide found easier to understand and remember. In 1988, Yokogawa dened its corporate philosophy, marking the nal step of the merger.Yokogawa’s resources, including technologies, increased as a result of the merger. This advantage enabled Yokogawa to enter new elds, release many new products, and quickly set up several Group companies outside Japan.Stronger Yen and Yokogawa’s DiversicationIn the early 1980s, high-performance yet low-price Japanese products ooded Western markets and led to trade friction. Japan came under pressure to take measures to make the yen stronger and increase domestic demand. Though it had suered a high-yen recession in 1986, Japan’s economy once again started picking up at the end of the year.After the merger, the control business grew steadily. Yokogawa’s History —— Chapter 3After the signing ceremony, President Yokogawa (left) shaking hands with President ShimizuThe Yokogawa Hokushin Electric logoThe current symbol and brand logoAt this 1956 Yokogawa exhibit of automation solutions, a rst for Japan, the company also featured Hokushin products
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