MHPS President Ando delivers New Year Message to Employees for 2018
YOKOHAMA, JAPAN (January 5, 2018) - The following is a summary of the main points of President and CEO Kenji Ando's remarks to employees of Mitsubishi Hitachi Power Systems, Ltd. (MHPS) on starting out the new year of 2018.
“2018 is a year of great importance for MHPS, as this spring we will complete our 2015 Medium-Term Business Plan and launch our new 2018 Business Plan. Meanwhile, all around the world we are witnessing a rapid shift away from fossil fuels and toward renewable energies. As a result, today we continue to face a challenging market environment characterized by limited demand for new thermal power plants.
Given these circumstances, in order to wield competitive strength in the thermal power systems business, we must respond swiftly to diversifying customer needs and take bold and aggressive initiatives to provide solutions that make optimal use of ICT and AI. To do so, it's imperative for us to strive for a lean corporate structure by promoting PMI(Note) and business operations with a greater focus on speed.
Going forward, although demand for new installations will center primarily on renewable energies, a great many thermal power plants are already in operation, and these will require regular maintenance. By applying ICT, AI and other technologies to our current customer sites and providing them with ever-faster and more efficient servicing operations, we can expand our business scope. In addition, in order to go beyond merely supplying individual products as in the past, and to strengthen our ability to provide solutions capable of supporting customers' broad business needs, starting this year we will be establishing a new Power & Energy Solution Business Headquarters. Under our new 2018 Medium-Term Business Plan commencing this spring, we will make servicing operations and our solutions business our two growth engines.
In order for MHPS to be the business partner of choice for customers, I ask that you all make full use of technologies and ideas gleaned worldwide, and apply your individual knowledge and capabilities to the fullest degree. By breaking out of our mold, let's work together to make 2018 a year of decisive change for MHPS—and a year that will mark the start of a robust recovery.”
- PMI:post-merger integration
