Chiyoda Corporation

The biggest challenge for Chiyoda Corporation was to instill an understanding among stakeholders of the leadership’s intention to change course towards “self-transformation,” pursuing project scales and contract formats that avoided taking on excessive risk, even as the company had a track record and strengths built up through large-scale EPC, including in fields such as overseas LNG (natural gas).
Chiyoda Corporation thus needed to carefully advance the formation of measures and messaging for internal stakeholders that avoided creating the misapprehension that the business would shrink, or, in other words, measures and messaging that contributed to employee engagement in the form of business viability and investment in personnel development. The company also needed to create momentum and structures for tackling a self-transformation that was advanced in a companywide, united manner.
For external stakeholders such as shareholders, institutional investors and stock analysts, the company needed to engage in communications that conveyed the feasibility and probability of financial soundness stemming from the renewal plan, and that therefore fostered an expectation of growth.

In formulating a long-term vision and a medium-term management plan, Chiyoda Corporation needed unity of purpose from the whole company, and not just to sketch out a strategy. For this reason, ABeam Consulting worked side by side with the company to enact the following measures.

As a result of these measures, we managed to build systems and foster attitudes geared towards execution, by ensuring that both the current leadership and next-generation leaders were satisfied with the direction of the whole company.

From 2023 to 2024, ABeam Consulting supported Chiyoda Corporation by facilitating discussions with leadership and long-term strategizing through tens of individual working groups aimed at considering transformation encompassing the whole company.

We then worked in unison with the Mid-term Management Plan Promotion Office to drive the design of discussion points, the formulation of initial hypotheses, and the setting of initial points of incorporation and standards for determination, as the results of these discussions were reincorporated into the medium-term management plan, through consideration of the 10-year plan. We thus managed to conclude leadership discussions in a short span of just three months. ABeam also supported the company in formulating a communication plan for making external announcements and for explaining these plans internally. This support even went as far as covering point of emphasis and caution when instilling these ideas in stakeholders, and methods for managing progress.

In line with this, ABeam also worked side by side with Chiyoda Corporation to support key agenda items that served as transformation themes put forward in the group’s medium to long-term strategy, such as: the “business vision to develop, manufacture and sell water electrolysis equipment” in collaboration with Toyota Motor Corporation; the establishment of a "Business Strategy and Sales Department” to formulate a system for accelerating the development of Non-EPC business; “sales transformation” aimed at data sharing and sales strategy formulation for domestic and overseas sales; and the “formulation of CXO Vision 2030” as a business transformation vision for the subsidiary company, Chiyoda X-One Engineering. ABeam has thus contributed Chiyoda Corporation’s corporate transformation as a partner that pursues performance, so that Chiyoda’s long-term vision does not just end up being a purely on-paper exercise.