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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction
06 EDB Singapore Interview
07 Enterprise Singapore Interview
08 SCIC Interview
09 ASPRI Interview
10 Section 2: Ecosystem
11 Sustainability
12 Business Insights: Transformations by the Country’s Biggest Players
13 Linde Interview
14 Advario Interview
15 Behn Meyer Group Interview
16 Leschaco Interview
17 The Energy Transition
18 Two Scenarios
19 Energy Market Authority Interview
20 PacificLight Interview
21 Air Products Interview
22 Environmental Resources Management Interview
23 Talent
24 Airswift Interview
25 McKinsey & Company Interview
26 Section 3: Production
27 Petrochemicals
28 ExxonMobil Interview
29 Shell Chemicals and Products Asia Interview
30 Chevron Interview
31 Infineum Interview
32 Chemical Specialties Limited Interview
33 Circularity
34 In Search of a Sustainable Solution To Singapore's Plastics Waste
35 Mitsui Chemicals Asia Pacific Interview
36 Eastman Asia Pacific Interview
37 LyondellBasell Interview
38 Dow Interview
39 SABIC Interview
40 Specialty Chemicals
41 Business Insights: Investments in the Mobility & E-mobility Sector
42 BASF Interview
43 Henkel Interview
44 Lanxess Interview
45 Evonik Interview
46 Arkema Interview
47 Nutrition
48 Tate and Lyle Interview
49 Syngenta Interview
50 Roquette Interview
51 Nutrisource Interview
52 Fermatics Interview
53 Section 4: Supply Chain
54 Logistics
55 Maritime and Port Authority of Singapore Interview
56 Maersk Interview
57 Vopak Interview
58 Jurong Port Interview
59 Trade
60 Brenntag Specialities Interview
61 Integra Petrochemicals Interview
62 Tradeasia Interview
63 Azelis Asia Pacific Interview
64 New Asia Shipbrokers Interview
65 Section 5: Local Tribute
66 Talks with the founders of Singaporean-born traders
67 Talks with the founders of Singaporean-based advisory firms
68 Talks with executives in the shipping industry
69 Section 6: Company Profiles
70 Integra Company Profile
71 Behn Meyer Company Profile
72 Credits

Takayuki Inagaki, Managing Director,

MITSUI CHEMICALS ASIA PACIFIC (MCAP)

“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.”

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.

Next:

Interview: Eastman Asia Pacific