What insights does the development path of Japanese chemical enterprises bring?

What insights does the development path of Japanese chemical enterprises bring?

At present, Japanese chemical manufacturers have made progress in reducing their exposure to bulk chemicals and shifting their business towards high-value materials. But in order to maintain profit growth and offset the impact of Japan's weak economy, lack of raw material advantages, aging population, and shrinking population, Japanese chemical companies still need to explore more paths. Recently, industry insiders pointed out that Japanese chemical companies need to focus on developing products that address environmental, social, and sustainable development challenges, maintain innovation and research and development capabilities, adhere to digital operations, and embrace digitization in order to achieve further transformation and development.

Differentiated development is*

Mitsui Chemicals CEO Sadakazu Tanigaki stated that Japanese chemical companies need to continue strengthening their technological capabilities. There are significant business opportunities in differentiation and high-value materials, including solutions that can reduce greenhouse gas emissions, promote the development of renewable energy, improve agricultural productivity, and address the needs of an aging society.

Hideki Kobori, President of Asahi Kasei Corporation, said, "Japanese chemical companies have become more competitive and differentiated. In the future, we will continue to increase production capacity for high value-added products and support future business growth. This means adjusting our investment portfolio to meet social demands. These demands and challenges may change rapidly and to a great extent. We must ensure that we are building new businesses that can quickly adapt to the new environment

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Masaaki Ito, President of Japan's Coca Cola Company, stated that the business environment in Japan and elsewhere is rapidly changing for chemical manufacturers. New market entrants, increasingly strict regulations, and new technologies including digitization have created both opportunities and challenges. Keleli Company will compensate for its vinyl acetate business by establishing new growth poles in the isoprene and activated carbon sectors. Business acquisitions and technological improvements will contribute to the development of these new core businesses as well as the development of new business areas.

Yujiro Goto, President of Catalyst Company, stated that companies must continue to increase their share of differentiated products. Two years ago, Japan Catalyst took decisive action and carried out a large-scale restructuring of its research and development business. The target areas include medical materials, personal care, energy efficiency, and water treatment. In addition to accelerating research and development, the company has been advancing its merger and acquisition plans. The benefits of these measures have begun to emerge.

Sustainable development provides impetus

Hitoshi Ochi, President of Mitsubishi Chemical Holdings, said, "Providing solutions to climate change and other social challenges is crucial for Japanese chemical companies. Chemical companies need to respond quickly, provide necessary materials and services, and seize the new markets created to address these challenges. Enterprises must use artificial intelligence and the Internet of Things to upgrade their business technology and maintain competitiveness

Jun Suzuki, President and CEO of Teijin Corporation, said, "The impact of sustainable development and environmental issues is increasing. The demand for environmentally friendly products is growing. The true value of the company's existence lies in contributing to the sustainable development of society

Yuzuru Yamamoto, President and CEO of Ube Industries, stated that the company's strategy is now more closely integrated with sustainable development.

Yasuhiko Saitoh, President of Shinetsu Chemical Company, stated that supporting sustainable development and addressing climate change are crucial for chemical companies. Chemical producers can contribute in two ways: ensuring maximum efficiency and providing products with sustainable benefits. In our operations, the focus is on improving efficiency, reducing emissions, and protecting energy. The materials and products we supply to the market should improve efficiency and productivity

Currently, technological transformation is happening very rapidly, and the value chain is undergoing significant changes. We need to actively engage in digital transformation, significantly improve productivity, and enhance innovation capabilities to solve social problems. This will be a key driving force for the success of Japanese chemical companies, "said Kaoru Ino, CEO of DIC

Focus on the future market

Japanese chemical manufacturers are focusing on developing the next generation of businesses that can meet environmental and social needs. This includes products or solutions that improve the environment, increase energy efficiency, healthcare, packaging, and other aspects.

Masakazu Tokura, President of Sumitomo Chemical Corporation, stated, "The company has identified healthcare, reducing environmental impact, food, and information and communication technology as priority areas for development. We will also improve our internal development processes in each area and collaborate with academia, startups, and other institutions to establish an innovative ecosystem for the company