“Local” is the key word. Takuoka repeatedly stressed the importance of working with local partners.

Connecting information, organizations and enterprises to promote symbiosis is the direction Yokogawa Electric has been striving to promote over the years. “Yokogawa Electric has a lot of business experience in China, but that’s not enough. Even if there is a lot of contact with clients and organizations, it is still not enough. This year, we set up a China Foreign Affairs Office to follow the Chinese government and understand their thoughts. The department will collect information from all parties in a timely manner, and will continue to work to deliver our message and promote the implementation of solutions. In addition to local partners in China, there are also overseas investment companies from Japan, Europe and the United States, and Yokogawa Electric can help them set up networks in China. They may have the latest technological advantages or their own business model, but we can share with them how to survive or expand their business through the Yokogawa network to help adjust in real time. Yokogawa will also share information with overseas investment companies to find suitable partners. Through ongoing discussions, we build ecological relationships, develop solutions together, solve problems for our customers, and use our channels to support our goals in China today.”

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Achieve sustainable development

In 2015, the 21st United Nations Climate Change Conference adopted the Paris Agreement, calling for the realization of the Sustainable Development Goals by 2030. Yokogawa is now well on its way to achieving this goal, setting three major goals in August 2017: achieving net zero emissions, ensuring health and well-being, and transitioning to a circular economy.

These three goals are also in line with China’s official plan for the future.

“By 2030, Yokogawa aims to contribute to three main areas – net zero emissions, circular economy and ensuring health and well-being – which are all related to the key indicators of the Sustainable Development Goals (SDGs).”

“In addition, we also refer to the 14th Five-Year Plan of the Chinese government and think about how, as a part of the community, we can assist and support the Chinese government in realizing the 14th Five-Year Plan.” The 14th Five-Year Plan refers to the national plan for China’s economic and social development for the 14th Five-Year period from 2021 to 2025. In addition to economic development and people’s well-being, and also emphasizing green transformation, promoting the reduction of carbon emissions and energy consumption, Yokogawa Electric pays special attention to social safety, security and sustainability, which is also part of the 14th Five-Year Plan to achieve. And the technology we’re going to develop is consistent with those goals.”

“Yokogawa’s current market presence in China is still insufficient to achieve the company’s three goals. Therefore, we try to introduce the latest technological advantages for digital transformation, including AI(artificial intelligence), VR(virtual reality), XR(Extended reality), cloud technology and edge solutions. However, some of these technologies have not been widely covered, so there is a lot of cooperation with outside companies.

Beyond that, human well-being is an important goal. The proportion of consideration of living environment and quality of life will increase with the increase of people’s age. Yokogawa has entered the life sciences market related to public health, an area we will challenge, and has already done so with local partners in China.

The other is the new industry sector, where many new technologies are emerging, especially in renewable energy. Using these resources can reduce energy consumption, reduce carbon dioxide emissions, and develop new energy, automotive LED battery business, as well as semiconductor or mobile business. Yokogawa will challenge more new business areas, including entering the biopharmaceutical sector, and will not rule out food and beverage.” Takeoka Ichihiko confidently painted the grand blueprint of Yokogawa Electric.