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03/11/2022
Idemitsu Kosan's DX, what is necessary for transformation to "decarbonization" | Business + IT
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Idemitsu Kosan's DX, what is necessary for transformation to "decarbonization"
In 2021, when the movement toward decarbonization accelerates worldwide, Japan has announced the "2050 Carbon Neutral Declaration" as a country. How do you draw up a growth strategy in the midst of a trend that cannot be said to be positive for an oil company whose main business is fossil fuels? We interviewed Mr. Yukio Saegusa, who is a leader in digital transformation and is the key to transforming Idemitsu Kosan's business portfolio and continuing to grow into the future. .
Interviewer, Composition: Ryuji Yamada, Editorial Department Written by: Yasuhiro Hatanabe
Interviewer, Composition: Ryuji Yamada, Editorial Department Written by: Yasuhiro Hatanabe
- Review of medium-term management plan due to acceleration of global decarbonization
- Internal and external collaboration, DX for customers
- Present What are the results of the "three DX measures" that we are focusing on
- CDOs are required to have a "strong mind and positive spirit"
── Idemitsu Kosan's business Please tell us about the overall picture based on the medium-term management plan. Mr. Yukio Saegusa (hereafter, Mr. Saegusa): Since its founding in 1911, Idemitsu Kosan has a history of tackling challenging areas while overcoming various crises such as World War II and the oil crisis. . Our medium-term management plan is formulated every three years. We are currently in the middle of the medium-term management plan for fiscal 2020 to 2022 announced in November 2019, but one year after the start of the plan period, we will be able to In May 2021, we announced the “Review of the Medium-Term Management Plan” due to changes. This "review" is almost entirely reworked. Major changes in the environment include changes in lifestyles due to the impact of COVID-19 and a decline in demand for major products. This is largely due to the acceleration of the carbonization movement. In addition to fuel oil, our company is developing various businesses such as basic chemicals, electric power, high-performance materials, and resource development, but the current situation is that both sales and profits are highly dependent on fuel oil. It can be said that we are approaching a major change point for our company, which is the new corona disaster and carbon neutrality. Under such circumstances, the medium-term management plan envisions the challenge of putting us on the next growth trajectory through DX. ──Will the most drastic change in the review be the transformation of the business portfolio? Mr. Saegusa: That's right. In the medium-term management plan that we released in 2019, we explained that there were various attempts, and I think that it was largely due to the fact that we grouped them into three categories and indicated the direction. The three are the transition to advanced materials, next-generation mobility, and next-generation energy. Regarding energy, there is currently not enough energy to replace fossil fuels, and society needs fossil fuels for the time being. I think it will be ──How do you think about the DX policy? Mr. Saegusa: We have three axes: "Digital for Idemitsu," "Digital for Ecosystem," and "Digital for Customer." "Digital for Idemitsu" is the concept of using digital technology to create new ways of working for employees. And "Digital for Ecosystem" is to promote co-creation through collaboration between companies. "Digital for Customer" is a direction to provide new services and new value based on digital to customers regardless of existing or new businesses. The most important mission is to create new businesses. However, it is not, for example, creating a corporate venture capital (CVC) to launch a new business in a completely different area from the current business, but rather a "transition". As the demand for fossil fuels declines, we will gradually shift to next-generation energy and expand it. Therefore, in terms of human resources as well, the people currently selling fuel will change to provide new renewable energy as a service. In that sense, "Digital for Idemitsu" is a very important mission. [next page] DX recommended articles for internal and external collaboration and customers
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