Yazaki
VICE PRESIDENT OF BUSINESS DEVELOPMENT
YAZAKI INNOVATIONS, INC.
WHAT IS YOUR DIVISION'S MISSION AND WHAT ARE YOUR RESPONSIBILITIES?
Yazaki Innovations, Inc. is a disruptive technology subsidiary of Yazaki Corporation, a Japanese private conglomerate with operations in 46 countries and approximately 240,000 employees. Yazaki Corporation has a broad product portfolio ranging from the automotive, transportation and mobility industries to consumer goods, commercial buildings, gas and solar power systems, industrial air conditioning systems, environmental services, recycling, agriculture, and nursing care. Yazaki Innovations, Inc. brings together Yazaki's global product portfolio, product development, manufacturing, and business strengths to provide fast, reliable, and cost-effective solutions to pursue innovations. Yazaki Innovations faces potential challenges and has been working to introduce new business models and services since 2017, primarily focusing on Silicon Valley.
WHAT LED TO THE INTRODUCTION OF VALUENEX SERVICES AT YOUR COMPANY?
To leverage the characteristics of Silicon Valley more broadly within the Yazaki Group, we were considering the implementation of a short-term intensive training program, or "boot camp", for some of our employees. Upon hearing about VALUENEX's similar program utilizing the VALUENEX Radar, which matched our envisioned program, we decided to introduce it.
WHAT HURDLES DID YOU FACE DURING INTERNAL COORDINATION FOR THE INTRODUCTION OF THE SERVICE, AND HOW DID YOU OVERCOME THEM?
Since we started planning and recruiting boot campers after the fiscal year had already started, we did not have a budget or the necessary boot campers at each site. To address this, we decided to have our company (the U.S. subsidiary) cover the entire camp operation cost, with each site covering their own travel expenses. This adjustment led to the European site agreeing to send one participant. This was made possible thanks to the foresight of the European site leader.
WE WERE ABLE TO OBJECTIVELY AND VISUALLY UNDERSTAND OUR STRENGTHS AND WEAKNESSES. THIS MADE IT EASIER TO IDENTIFY AND PROPOSE NEW BUSINESS AREAS TO CHALLENGE.
IF YOU COULD GIVE YOURSELF ADVICE BEFORE USING VALUENEX SERVICES, WHAT WOULD IT BE?
Planning should be completed before budgeting.
WHAT ORGANIZATIONAL EFFORTS ARE BEING MADE TO INTEGRATE VALUENEX SERVICES WITHIN YOUR COMPANY?
The boot camp includes two to three pitch opportunities. During these sessions, we encourage participation from overseas regional headquarters leaders and Japanese headquarters representatives. This provides an opportunity for them to see how VALUENEX Radar can be applied to our company's cases. However, we have not yet reached the point where there is a concrete need expressed, such as "we want to use it in our company," so it seems we still need to do more promotion.
BY PUBLISHING RADAR OUTPUT, WE CAN CLEARLY HIGHLIGHT OUR WEAK AREAS AND ZONES WE WISH TO STRENGTHEN. THIS CAN FACILITATE COLLABORATION WITH STARTUPS AND OTHER ENTITIES POSSESSING THE TECHNOLOGIES THAT CAN COMPLEMENT OUR NEEDS.
WHAT ARE THE RESULTS OF USING VALUENEX SERVICES?
Using VALUENEX Radar, we conducted a comprehensive analysis of all our patents, as well as those of our competitors, to identify three new business areas that leverage our strengths. We have further narrowed this down to two business areas in which we have decided to focus our efforts. The boot camper is not just ending with the proposals; upon returning to their home country, they are actively continuing their activities as a leader for the launch of these new businesses.
WHAT HAVE BEEN THE MAJOR CHANGES AFTER INTRODUCING VALUENEX SERVICES?
By using the overview maps of our own patents and those of our competitors, we were able to objectively and visually understand our strengths and weaknesses. This made it easier to identify and propose new business areas to challenge, allowing us to escape the "why-why analysis trap.”
VALUENEX RADAR IS OFTEN SEEN AS A COMMUNICATION TOOL, DO YOU THINK INTERNAL COMMUNICATIONS HAVE BEEN IMPROVED THROUGH OUR PROJECTS?
The information from our hundreds of thousands of patents was impressively consolidated into a single visual representation. The areas where our patents are densely concentrated, reflective of our business characteristics, brought some humor. Additionally, this provided participants with a great opportunity to explore and ask, "What is this area?" fostering curiosity and discussion.
DO YOU THINK IT IS POSSIBLE TO USE VALUENEX RADAR AS AN ‘EXTERNAL' COMMUNICATION TOOL TO ENGAGE WITH OTHER COMPANIES OR CUSTOMERS AS WELL?
Our U.S. subsidiary is engaged in open innovation. By publishing Radar output, we can clearly highlight our weak areas and zones we wish to strengthen. This can facilitate collaboration with startups and other entities possessing the technologies that can complement our needs.
DO YOU THINK VALUENEX OUTPUT CAN BE USED TO ENHANCE COMPANY AND ASSET VALUATIONS?
Creating overview maps using various parameters could yield intriguing evaluation charts. This approach might one day become a standard tool for venture capitalists (VCs) and corporate venture capitalists (CVCs) who are extensively searching for, organizing, and evaluating a large number of startups.
HOW DO YOU PLAN TO PROMOTE YOUR BUSINESS THROUGH VALUENEX SERVICES?
We plan to utilize the boot camp program in the next term starting July 1, 2024. Additionally, we are considering expanding its use to potentially develop it into a standard tool for new business development.
PLEASE GIVE A FEW WORDS FOR COMPANIES WHO ARE CONSIDERING VALUENEX SERVICES.
I recommend inputting all of your company's patents to create a VALUENEX Radar. This will likely open up new perspectives that were previously unseen.