Evacuation of company employees to the athletic eld at the Tokyo headquarters following the Great East Japan Earthquake54Announcing the Evolution 2015 Mid-term Business PlanIn 2011, several disasters and incidents struck the world economy, including the Great East Japan Earthquake, severe ooding in Thailand, and the debt crisis in Europe.Amidst this turmoil, Yokogawa announced its mid-term business plan, Evolution 2015, in November 2011. This plan set business targets for scal year 2015 and specic strategies to achieve them, and aimed to transform Yokogawa into a global solutions and service company. This plan was the rst step towards the goal of becoming the global No.1 in the control business.The growth strategies for the control business were drawn up from three aspects: region, industry, and product. The regional strategy was to concentrate management resources on resource-rich and emerging countries. The industry strategy was to expand business in oil rening and petrochemicals, where Yokogawa already had a large share of the market while continuing to focus on the upstream (exploration and production) sectors of the oil and gas industries, and on electric power and specialty chemicals. The product strategy was to continue to develop highly reliable products that help customers address business issues, to capture the global top share with highly competitive products such as dierential pressure/pressure transmitters, and to strengthen high value-added consulting services. Concurrently, Yokogawa built a production system suitable for global business, and globalized its headquarters functions.In December 2012, Yokogawa acquired a minority interest in Soteica Visual MESA LLC, a US rm with advanced energy management solutions (EMS), and began oering EMS services as part of its service solution lineup.The control business did well with overseas projects, including a large LNG project in Australia and a second-phase project for a world-class oil rening and petrochemical plant in Saudi Arabia.However, the control business in Japan faced challenging circumstances, and new investment in plants continued to shrink. Customers started to shift focus from installing new equipment to increasing the added value of their existing facilities, by means such as making more eective use of energy by improving production eciency, reducing costs, and making operations safer. As a solutions and service company, Yokogawa responded by bringing the sales, engineering, and service functions of the Japan control business under the management of Yokogawa Solution Service, which was established for this purpose in April 2013. These three functions had formerly been handled by separate companies. In the same year, Yokogawa ushered in a new generation of leadership with the appointment of Takashi Nishijima as president.Control Business Responds to Structural Changes in MarketBuoyed by energy-related demand in emerging and resource-rich countries, the non-Japan control business expanded, mainly in the oil, gas, and petrochemical industries. Starting in 2014, sales also were positively impacted by the weak yen. In line with this, orders for systems integration, advanced control, operation assistance, production management, security, and other types of solutions gradually increased. At the same time, Yokogawa focused on the development of new products to enhance its solution capabilities and sales.In Japan, as manufacturers accelerated their eorts to restructure their businesses, Yokogawa strove to provide solutions that would make its customers' businesses more ecient, but they could not compensate for the decrease in the conventional control businesses.Yokogawa’s History —— Chapter 5Takashi NishijimaAiming to Become the Global No.1 in the Control Business (2011–)
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