"MCAP is committed to continue our support to Mitsui Chemicals Group in moving towards a solution-based business model to respond to social and environmental challenges."

Takayuki Inagaki

MANAGING DIRECTOR, MITSUI CHEMICALS ASIA PACIFIC (MCAP)

July 20, 2022

Could you please introduce yourself to our audience?

I am the Managing Director for Mitsui Chemicals Asia Pacific (MCAP), as well as the Asia Representative for Mitsui Chemicals. My career with the Group started in 1989, and over the decades, I served in different roles, from engineering to corporate planning and leadership positions. I am confident that the experience I amassed will contribute to the success of MCAP and its affiliates, and I look forward to working with colleagues across the region.

Mitsui Chemicals Group has mapped out Vision 2030. Please can you share the key elements of this long-term business plan?

Vision 2030 is a re-commitment to further the company’s transformation towards a global solutions company. Building upon Vision 2025, the renewed plan considers changes in both the internal and external environment, setting the direction of our group’s growth across five strategies:

As part of Strategy 1, we are pursuing a portfolio transformation to move away from our conventional materials supply business model into new areas like healthcare, mobility, ICT solutions, and basic & green materials. This structural reform is governed by our intention to become a holistic solutions company focused on mitigating social issues. Tied to the first strategy, Strategy 2 is to develop solution-based business models by strengthening cross-company partnerships and fostering growth through organizational ties.

Thirdly, an important pillar of Vision 2030 is to bolster Circular Economy (CE) initiatives. All of our businesses will be designed with a CE-oriented view, and we will roll out CE-compatible products by transitioning to low-carbon materials and fuels. We have already announced significant milestones in this regard, including foundational technology acquisitions that contribute to carbon neutrality.

Strategy 4 looks inwards, at corporate transformation through the adoption of Digital Transformation (DX). Mitsui Chemicals Group will apply DX across all corporate functions and domains, including production, sales, research, and supply chain, to create value at each level.

Finally, our ambitious vision must be supported by concomitant transformation at the management and governance level, through improved corporate culture, strengthened internal engagement, and increased competitiveness for all of our bases around the world.

Could you highlight the latest developments in Singapore?

In October last year, we established a new Regional HR Division in MCAP to accelerate and support various global human resource initiatives.

Another significant change is the consolidation of the purchasing and logistics function of MCAP with MPS (Mitsui Phenols Singapore) and MELS (Mitsui Elastomers Singapore), all brought under a single entity from April 2022 onwards. All purchasing functions of MELS and MPS are transferred into a new Purchasing Division in MCAP. All logistics functions from both Singapore affiliates, similarly, are consolidated into the current MCAP Logistics Division.

We are also in the process of implementing DX across our businesses for three of our Singapore affiliates, having already put a DX Team in place to lead various DX projects. Digitalization and AI will allow us to run more intelligent operations, drive energy efficiencies, reform work styles, and, most crucially, improve safety outcomes.

How is MCAP recovering from the challenges of the pandemic?

We are at a juncture where the effects of the pandemic are still lingering. Mobility restrictions have impacted our employees, and many of our service workers had to find new ways to continue to support customers, remotely. The MCAP IT Division has done its best to facilitate business–as-usual. The pandemic has been challenging, but we adapted continuously, and today we notice that different divisions collaborate even more closely than they used to do. As we speak, international travel is gradually resuming, and we are quite hyped to travel again in a safe fashion. Taking this opportunity, I would like to thank our employees for their utmost support during this trying period.

Do you have a final message?

Change is the only constant in business, and the business environment is undoubtedly changing, leaning more on green solutions. Sustainability will be the main driver of change for the years to come.

Following this course, MCAP is committed to continue our support to Mitsui Chemicals Group in moving towards a solution-based business model to respond to social and environmental challenges. Mitsui Chemical Group recognizes the need for change to continue to solve social issues. We are ready to offer the right solutions for the right needs, and we look forward to creating a better world for all.

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