DPharp differential pressure/pressure transmitter released in 1991CSU10 confocal scanner unitCeremony to mark the rst shipment of DPharp50“VECTOR 21” and Organizational ReformThe stock market plunge in January 1990 precipitated the collapse of Japan’s bubble economy and the start of the “two lost decades.” Customers simultaneously revised downward their capital investment plans and performance forecasts. In scal year 1991, Yokogawa managed to increase sales but operating income dropped signicantly. Yokogawa announced the VECTOR1 21 corporate vision in 1992, aiming to become an industrial automation (IA) company in the years leading up to the 21st century by unifying process automation, factory automation, and laboratory automation, based on the company’s founding principles and corporate philosophy. This vision was intended to make employees aware of the drastic changes in the business environment and urge them to work together to overcome diculties.In July 1992, Yokogawa reorganized each business’s sales, development, and manufacturing divisions into strategic business units (SBU) in accordance with VECTOR 21. Responsibility and authority were delegated to the individual SBUs to enable them to respond appropriately and quickly to changes in the market environment. All organizations were divided clearly into cost centers and prot centers, and it was made clear that prot centers would be evaluated based on their prots. Thus, Yokogawa became prot-oriented.However, both sales and prots in scal year 1992 fell far below the target. The decrease in sales and the increase in high-cost engineering were the reasons for this poor performance.Eiji Mikawa, who became president in June 1993, focused on reducing the cost of existing products, accelerating the development of new products, improving sales eciency, and streamlining headquarters functions. He allocated more human resources to the protable semiconductor tester business, transformed the FA business into a solution business, and entered the information system business for non-manufacturing industries.1Standing for value, excellence, challenges, teamwork, open-mindedness, and responsibility, this also refers to a force that has both direction and magnitude.Developing Unique ProductsIn those days, Yokogawa developed many new products by using its unique technologies. The DPharp dierential pressure/pressure transmitter released in 1991 sold strongly because of the high accuracy and reliability achieved by using the world’s rst silicon resonant sensor. The confocal scanner released in 1996 was also highly acclaimed in the eld of life science and adopted by research organizations in many countries. The technologies in these products won prestigious awards in Japan such as the National Commendation for Invention and the Okochi Memorial Technology Prize.Yokogawa’s History —— Chapter 4Eiji MikawaOvercoming the Post-bubble Recession and the Beginning of the Age of Globalization (1991–2010)
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