Integrated Report 2023
I n t e g r a t e d“Building links to the future”

R e p o r tContents
YBHD Group Profile
Message from the President��������������3
History of the YBHD Group���������������7
Value Creation Process�����������������9
Philosophy Framework of the Yokogawa Bridge HoldingsGroup����������������������� 11
Management Resources (Inputs)������������ 13
Services Provided (Outputs)�������������� 15

Connecting, Linking, Expanding: Toward the Future

Building Strong Bridges Bridge Building Process���� 17
Building Large Spaces Factory and Warehouse Building
Process���������������������� 21
New Bridge Construction Business��������� 23
Maintenance Business��������������� 25
Engineered Structure System Business�������� 27
Civil Engineering Business (Tunnel Segments)����� 29

Corporate Value Enhancement Strategy
Sixth Medium-Term Management Plan��������� 33
Business Strategy
Bridge Business������������������ 37
Engineering Business��������������� 41
Precision Equipment Business����������� 47
Business Base Strategies
DX Strategy������������������� 49
Technology Strategy���������������� 51
Human Resources Strategy������������� 53
ESG Initiatives������������������ 55

Striving to Help Realize a Sustainable Society
Environmental initiatives��������������� 61
Social Initiatives������������������� 65
GovernanceCorporate Governance��������������� 69
Risk Management����������������� 79
Compliance������������������� 81

Data Section
Financial Information
Financial and Non-Financial Highlights�������� 83
Consolidated Financial Statements, etc.������� 87
Location Information����������������� 91
List of Group Companies��������������� 92
Company Profile and Information Related to the Company’s
Shares����������������������� 96

Editorial Policy

PeriodGuidelines referenced

Inquiries about the report

In fiscal 2021, we began publishing an integrated report to

Fiscal 2022 (April 2022 to March 2023)• International Integrated Reporting Council (IIRC)

General Affairs Department, Yokogawa Bridge HoldingsGroup’s corporate philosophy of “Contribution to society andPublished• Ministry of Economy, Trade and Industry

the public, and sound management.”

September 2023

“International Integrated Reporting Framework”

communicate to stakeholders our efforts to realize the YBHD

helps stakeholders to understand the YBHD Group.

Tel: +81-3-3453-4111
Email: contact@ybhd.co.jp

Company-Investor Dialogues for Collaborative Value

Going forward, we will continue to deepen our efforts andwill enhance the content of the report, with the hope that it“Guidance for Integrated Corporate Disclosure and

Corp.

Scope

The YBHD Group’s initiatives, focusing on the Group’s
financial and ESG information

Creation (Guidance for Collaborative Value Creation)”• Global Reporting Initiative“GRI Global Standards for Sustainability Reporting”

WebsiteFor more information, please visit the website
of Yokogawa Bridge Holdings Corp.
http://www.en.ybhd.co.jp/

1

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

2

Message from the President

Looking a century ahead,
YBHD Group Profile

we will improve our corporate value,in both financial and non-financial terms,
striving for sustainable corporate management,
to be a company that continues to grow

Corporate Value Enhancement Strategy

Kazuhiko Takata
Yokogawa Bridge Holdings Corp.
President and Representative Director

Reflecting on the First Year of the Sixth Medium-Term
Management Plansound management” as its corporate philosophy andto take the initiative as president to rally the entire company

capturing the demand for new plant construction inpeople and technology as the sources of its growth. I

toward achieving our corporate philosophy and realizing

Japan, we were able to greatly expand our business.

firmly believe that for us to continue growing for the next

our vision for the future a century from now. Positioning

Looking back on fiscal 2022, although there were

100 years, sustainable corporate management is crucial.

the three years of the Sixth Plan as a “period for laying the

Fiscal 2022, the first year of the Sixth Medium-Termvarious changes in the external environment, their impact

This requires not only improving the financial aspects offoundation to realize the four points in our management

Management Plan (“Sixth Plan”), was a year of major

was minor for the YBHD Group’s businesses as a whole.

corporate value such as business content andvision” is not unrelated to these ideas I have in mind.

changes in the external environment, including the rapid

Despite it being only the first year of the Sixth Plan, we

performance, but also enhancing ESG and other facets

depreciation of the yen as well as global supply chain

achieved record-high sales and other results surpassingof non-financial corporate value.

disruptions and rising resource prices due to COVID-19

our initial plans. Entering fiscal 2023, as the external

I have heard that our founder, Dr. Tamisuke Yokogawa,around the bridge and engineered structure system

and geopolitical risks.

environment appears to have stabilized compared to alamented Japan’s heavy reliance on imported steel atbusinesses, which we will maintain as profit pillars. One

year ago, we expect to maintain a growth trend.

the time, voicing at the company’s founding the need forrecent tangible achievement is the development of “cusa”

domestic

structurealuminum alloy permanent scaffolding essential for bridgecomponents to support the development of Japan’s

maintenance. By developing scaffolding used for bridge

construction industry. To uphold this foundational

inspection and maintenance from lightweight yet durable

principle and remain a company that can solve societal

aluminum, we ensure a life cycle comparable to theissues, I see it as my duty at the helm of the organization

bridges themselves while also simplifying construction.

to ensure that we practice “sustainable corporate

The exceptionally strong sales of “cusa” prompted us to

management.” I am certain that if we can realize thisupgrade it from a “department” to a “division,” which I

Among the risks that could have affected our
performance, we needed to pay close attention to therising price of steel, which is essential for all of our*Please refer to pages 33–36 for details about the
Sixth Medium-Term Management Plan.

businesses. However, in the bridge business, whichcenters on public works projects, although there was aslight time lag, budget revisions reflecting the price hikes
were accepted, so there was no major impact on

3

Alongside short-term profitability improvement,
we will sow seeds for long-term growth.

ofquality

On the other hand, as a strategy to improve short-term
profitability, we will work to expand peripheral businesses

steelengineered structure system business was affected not

I believe that for the YBHD Group to continue its growthcorporate philosophy and founding spirit, we will

believe has also boosted the motivation of the employees

only by rising resource prices but also by global supply

trajectory, we need to operate our business based onnaturally grow as a sustainable company.

involved. Furthermore, in renovation work on aged

chain disruptions. However, this led to new market

concrete strategies for both the medium to long term

needs for warehouses and logistics centers that canand the short term.

As I have already mentioned, the YBHD Group has

bridges, there is a need to speed up the work to minimize

grown with people and technology as the two wheels

the impact on local communities. Accordingly, we arecope with unforeseen business risks. Furthermore, theOver the 116 years since its founding, the YBHD

driving it forward. As such, I am personally committed toalso focusing on developing new bridge decks that cantrend of bringing production bases back to Japan has

Group has expanded its business steadily, albeit quietly,

expandingmeet the demand for shorter construction timelines.

been accelerating in recent years due to wage increases

taking “Contribution to society and the public, andtechnological development as a long-term strategy. I want

Yokogawa Bridge Holdings Integrated Report 2023

investment

in

human

resource

andYokogawa Bridge Holdings Integrated Report 2023

Data Section

performance over the full year. On the other hand, theStrategies for Further Growth

production

Striving to Help Realize a Sustainable Society

We achieved record-high sales amid drasticchanges in the external environment.

in emerging countries and the weak yen. As a result of4

Message from the President

aspiring to be that type of leader. However, given mythere are three organizations: the Technical Researchother means. This had an immediate effect, with theposition, which allows me a vantage point over others, I

Laboratory, the Engineering Management Office, andmale employee paternity leave uptake rate rising fromalso recognize and am determined to fulfill my

Since becoming president, I have been frequently asked

the New Business Development Office. The Technical

5.7% in fiscal 2021 to 34.4% in fiscal 2022, and we will

responsibility to steer the “Yokogawa Bridge Holdings

questions like “What is the significance of Yokogawa

Research Laboratory conducts basic research andcontinue working to improve it steadily. Under our YBHDGroup” ship in the right direction—a better direction for

Bridge Holdings Group’s engaging in sustainable

develops new products for each business, theGroup Health Declaration, we are also focusing on

us to move forward together.

management?” My answer is always “Because theEngineering

each

health management. Various initiatives to support the

Although the YBHD Group has built up over 100 years

YBHD Group’s business itself has an inseparable

business horizontally and conducts R&D acrosshealth of employees and their families have earned usof history, our voyage has not always been smooth

relationship with sustainability.” At its core, our primarybusiness

Businesscertification as a 2023 Health & Productivity Management

sailing. We have experienced misconduct and serious

business of infrastructure development contributes toDevelopment Office has the role of exploring new

Outstanding Organization in the large enterpriseaccidents where we missed our direction as a company,

realizing a sustainable society. In particular, as abnormal

businesses that will contribute to future profitability

category.

such as the 2005 bridge bid-rigging incident and theweather and natural disasters thought to be caused by

improvement without being bound to immediate results.

Regarding employee career development and self-

2016 Arimagawa Bridge girder fall accident. However, I

climate change have been occurring more frequently in

Among these, I envision reorganizing the Engineering

improvement support, the cultivation of DX specialists

personally believe that exactly because we have suchrecent years, our new technology and productManagement Office and the New Business Developmentthat I have been particularly concerned with sinceregrettable past experiences and have sincerely reflecteddevelopment is also based on the premise of risks from

Office to conduct R&D aligned with long-term growth

becoming president fully commenced in fiscal 2022.

on them each time to work toward regaining societal

climate change, and aims to create structures that canstrategies by bringing together personnel from Group

Some 100 employees selected for their outstanding DX-

trust, we have been able to steadily expand our businesswithstand those risks. The SDGs of “Industry, Innovationcompanies

related skills and deep interest are currently undertaking

with our feet on the ground. Heading toward our visionandcollaborating across business lines.

the DX Specialists Development Course. The aim of thisfor the future a century from now, the Yokogawa Bridge

human

immediate

Holdings Group will continue sustainable corporate

performance-linked results, but to raise the DX level ofmanagement focused on tirelessly refining technology

the entire Group, centering on the employees taking theand pursuing the highest quality based on our policy ofcourse. I believe DX is indispensable to the YBHD

prioritizing safety. United as one, we will keep striving toGroup’s growth strategy and sustainable management,

be a company evaluated highly by society in bothso I want to firmly invest in human resources who can befinancial and non-financial terms.

Infrastructure”

and“Sustainable

CitiesandManagementboundaries,

engaged

Office

and

in

the

variousconnects
Newbusinesses

andCommunities” can indeed be said to be the very essenceof our business.
If asked “What is indispensable for sustainable
management?” I would answer without hesitation that it
is people and technology. While investment in humancapital including wage increases has been attracting

Carbon neutrality We launched full-scale
promotion of carbon neutrality andinvestment in human capital.

continuous, long-term perspective, not a short-term

expressed support for the TCFD recommendations andperspective just because it is demanded by the times,

set the specific target of achieving carbon neutrality byand that it is part of improving sustainable corporate

2050. In line with this objective, in fiscal 2022, we took

value. This applies in exactly the same way to wage

steps toward zero greenhouse gas emissions, including“Harmony is to be valued.” Alone, I canaccomplish nothing.

increases. In April 2023, we implemented a base pay

installing solar panels for private consumption on the

I am fully aware of the tremendous responsibility of myincrease separately from regular wage increases. Whileroof of the Technical Research Laboratory’s newly

own role as the leader of this organization, whether inother companies have announced more eye-catchingcompleted New Experimental Building and the Mobara

improving near-term profitability or devising long-termbase pay raise amounts, ours may not have left much of

Plant, and gradually switching purchased electricity tostrategies spanning 100 years into the future. I am fondan impression, but I am proud to say that our amount isgreen energy. Through these initiatives, we reduced CO2of the quote from the Analects, “Harmony is to be

not a sudden adjustment but is rather based onemissions from our business operations (Scopes 1 andvalued,” and deeply empathize with the idea that

continuous base pay raises over time.

2) in fiscal 2022 by 19% compared to fiscal 2020. In“cooperating

In addition to pay raises, investing in people includes

conjunction with our long-term growth strategies, we

acknowledging each other is the most precious thing.”

developing educational and training systems to assist

are also planning to enter the offshore wind power

Especially after rising to a position above others as awith employees’ skill development and reskilling. Alonggeneration business and are participating in collaborative

business executive, I have come to strongly feel thatwith employees’ motivation to improve their skills, we

research with industry, government, and academia and“Alone, I can accomplish nothing.”

have enhanced systems to support the acquisition of

joint projects with other companies, utilizing technology

academic

cultivated in our bridge business.

offerchangeMy Image of the Ideal Leaderinharmony

whilerespecting

andMy image of the ideal leader is not one who stands
alone at the front pulling everyone along, but one whoWith respect to work-style reforms, we actively

trusts and listens to employees, sharing expectations

another

publicized and spread awareness of our new postnatalwith them and progressing together side by side. I

indispensable element for sustainable management, wepaternity leave system through internal news articles

believe this suits my personality, and I have continued

Regardingtechnology

development,

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

andclimateresponsible for DX.

investing in people should be conducted from aqualifications,

implement

notcountermeasures, in December 2021 the YBHD GroupandefficientlyisTo

degreesmoredevelopmentattention across industries recently, I believe thate-learning with over 300 courses useful for reskilling.

5

Fiscal 2022 Results and Achievements

resource

Striving to Help Realize a Sustainable Society

interviewing male employees who took the leave andCorporate Value Enhancement Strategy

are currently reorganizing our R&D structure. At present,

Our business itself has an inseparable
relationship with sustainability.

YBHD Group Profile

The Significance of Our Sustainable Management

Yokogawa Bridge Holdings Integrated Report 2023

6

History of the YBHD Group
1907

1960

1990

2000

2010

2020

Founding, through the war years,
to post-war recovery

An era of rapid growth
Yokogawa builds skyscrapers

Linking Japan’stransportation arteries

Advanced technology

Linking and connecting large
spacesExpanding into the future

1955
The Saikai Bridge, which heralded the trend
towards larger, longer bridges.

1993
A new Tokyo landmark: The Rainbow Bridge

2001
Toyota Stadium, which was built using Yokogawa
System Buildings Corporation’s YMA moveablebuilding system

2011
Spacious, beautiful, and comfortable – the new,completely transformed Osaka Station

2020
Rocket manufacturing plant made from a system
structure: Interstellar Technologies Inc.
headquarters plant and office

1970
World Trade Center Building (Tokyo)
Also in 1970: Keio Plaza Hotel

1998
The world’s longest suspension bridge at thetime: the Akashi Kaikyo Bridge

2003
The Rokujizo section of the Kyoto Municipal
Subway Tozai Line used composite segments
supplied by Yokogawa NS Engineering Corp.

2016
An engineered structure carefully tailored to suit
its purpose and usage – Nasu no Megumi

2022
Tama River Sky Bridge, which houses lighting in
the railing to protect the precious estuary tidal flatecosystem

1974
Supporting skyscraper construction as amanufacturer of steel structures
Shinjuku Mitsui Building

1999
The world’s first triple suspension bridge,
consisting of three long successive suspension
bridges: Kurushima Kaikyo Bridge

2009
Stonecutters Bridge in Hong Kong, the world’s
largest composite cable-stayed bridge

2018
Japan’s largest solid-rib arch bridge: Tenjo Bridge

2022
Konki Athletic Stadium, which received highpraise for the steel frame roof erection method

Striving to Help Realize a Sustainable Society

1938
The company was responsible for producing thesteel frame used in the Dai-Ichi Life Insurance
head office building, which was the mostimposing building of its kind in Japan at the time.
In the immediate post-war period, the General
Headquarters (GHQ) of the Supreme Commander for
the Allied Powers (SCAP) was located in this building.

1968
As a trailblazing manufacturer of steel structures,the company provided the structural framework
for the Kasumigaseki Mitsui Building (now theKasumigaseki Building), Japan’s first skyscraper.

Corporate Value Enhancement Strategy

1913
The Yatsuyama Bridge, then the largest overpass
bridge ever built in JapanYBHD Group Profile

1907
Dr. Tamisuke Yokogawa founded Yokogawa BridgeWorks Ltd., the forerunner of Yokogawa Bridge
Corp.

2007 Yokogawa Bridge Holdings Corp. was founded.
was renamed Yokogawa Bridge Corp.

2015 Y okogawa Construction Co., Ltd. was merged into Yokogawa Bridge
Corp. (with Yokogawa Bridge Corp. as the surviving company).

Data Section

1991 Yokogawa Bridge Works Ltd.
1907 Dr. Tamisuke Yokogawa founded Yokogawa Bridge Works in Nishi-ku, Osaka City.
1963 Yokogawa Construction Co., Ltd. was founded.

2001 Yokogawa System Buildings Corp. was founded.
2003 Yokogawa acquired a controlling share in Narasaki Seisakusyo Co., Ltd., which became a Group company.
2009 Yokogawa acquired a controlling share in Yokogawa Sumikin Bridge Corp., which became a Group company.
2019 Yokogawa Sumikin Bridge Corp. was renamed
Yokogawa NS Engineering Corp.
1984 Yokogawa Techno-Information Service Inc. Established1991 Yokogawa New Life Corp. EstablishedThe background photo shows the Kototoi Bridge, the furthest upstream of the six main bridges over the Sumida River, in 1928.
At the time, this was the largest bridge in Japan.

7

Yokogawa Bridge Holdings Integrated Report 2023

2000 YCE Corp. was founded.

Yokogawa Bridge Holdings Integrated Report 2023

8

Linking,
Value Creation Process Connecting,Expanding: Toward the Future

Outcomes

The YBHD Group has contributed to society through social infrastructure development and technological innovation.
By further bolstering the Group’s strengths, we will take on the challenge of creating new value adapted to thedrastically changing social environment.

Social change

Social issues

Industry issues⃝Declining birth rate and aging
population⃝Digitization⃝Workstyle and lifestylechanges⃝Climate change⃝Increasing natural disasters⃝Aging infrastructure⃝Decarbonized society⃝Infectious disease outbreaks⃝Shortage of workers⃝Work-life balance⃝Prevention of occupational
accidents

Outputs

P.15-16⃝Net sales⃝Operating income⃝Ordinary income⃝Net income¥164.9 billion¥15.2 billion
15.4 billion yen
11.2 billion yen⃝Earnings per share

273.36 yen⃝Equity ratio⃝Payout ratio

Business activities

P.13-14

58.8%
31.1%

⃝Contribution to society
through the developmentof social infrastructure, etc.
⃝Greater customer satisfaction⃝Support for employee skill
development⃝Accumulation of technicalcapabilities and know-how⃝Revitalization of local
economies throughemployment

Bridge BusinessInputsSocial value provided

P.83-86⃝Consideration for the
global environment

7

Bridges in Japan

Production capacity of the main plant

Engineering Business

60,000 t/year
Chiba & Mobara Plants 90,000 t/year

SDGs

Osaka Plant

Co

rp
o

Human capital*

2,017
Qualified personnel 1,244

En
Roles of
YBHD Group

Over1,300(Engineered structures affiliated builders)9

Yokogawa Bridge Holdings Integrated Report 2023

Business partners
Employees

Precision machinery
manufacturing equipment

Partner companies
Local communities

M

ed

En

iu m

viro

E q uip m
B u sin e s s

e nt

Information processing
758

cisio n

P.
5

th

x

Order value
156.9 billion yen
Sales and construction agents

Construction

P.47-48

-Te

rm M

nme

-36

anagement Plan P.33

nt / So

ciety / Gover

Data Section
Data
SectionPre
Si

Social capital

Customers

Special-purpose buildings

8

143,000 tons

Shareholders and investors

3-5

Steel consumption

P.37-40

Stakeholders

Striving to Help Realize a Sustainable Society

P.41-46

Power consumption

26.61 millionkWh

e Business
idg
BrManagement vision

Precision Equipment
Business

P.3

Natural capital

Underground tunnels

y21.4 billion yen

Bridge attachmentsgi

110.4 billion yen
Interest-bearing debtri

Stockholders’ equity

neeFinancial capital

Corporate
Philosophy P.11-12

ng B
u sin e s s

500 million yen

ate

R&D spendingh a n c e m e n t str at e g

Patents 180

lu e
en

Intellectual capitalva*Including equity method affiliates.

Engineered structure
systemr

Employees

Bridges outside Japan

Corporate Value Enhancement Strategy

Manufacturing Capital
Production bases

YBHD Group Profile

Business
environment

Economic value provided

/

t
Ma

al
i
r
e

it y

Machinery steel

-82

.61

P
nance

Yokogawa Bridge Holdings Integrated Report 2023

10

 hilosophy Framework oftheP
Yokogawa Bridge Holdings Group
Group companies and their businesses

Contribution to society and the public, and sound management

Manag
vis emen
ion tManagement vision
Realization of• long-term protection of bridges• multifaceted steel structure engineering

les

of Y

Yokogawa Bridge Holdingsー

Yokogawa Bridge〇

Yokogawa System Buildings〇

Yokogawa NS Engineering

〇

●

●

Narasaki Seisakusyo

〇

●

●

Yokogawa Techno-Information Service〇

Yokogawa New Life

〇

YCE

BH

DG

rou
p

• construction of a robust operational foundation
as well as the pursuit of sustained expansion

Roles of YBHD Group⃝Contributing to the improvement of regional convenience and the development of social life and logistics
through infrastructure development

Yokogawa Techno PhilippinesーPrecision
Equipment
Business●

Real EstateBusiness
●

●

●

●

●

●
●
〇

●

ー

●

●

Segment structure
BridgeBusinessEngineering
Business⃝Contributing to and driving the development of each business segment as a leading company

Precision
Equipment
Business⃝Contributing to the development of the human talent that underpins national and regional economic
development by transferring technology and knowledge through our overseas business

Real EstateBusiness

New bridge
construction business⃝Design, manufacture, and on-site construction of new bridges

Maintenance business⃝Maintenance and repair of existing bridges

Overseas business⃝Design, manufacture, and on-site construction of bridges outside Japan

Engineered structure
system⃝Design, manufacture, and on-site construction of system structures (“yess buildings”)

Civil engineeringbusiness⃝Design and manufacture of tunnel segments⃝Design and manufacture of offshore and port structures

Construction andmachinery steelbusiness⃝Construction of steel frameworks and forge work for high-rise buildings, etc.
⃝Design, manufacture, and on-site construction of moveable building systems (YMA)⃝Water treatment business

Precision equipment⃝Production of high-precision frames for manufacturing equipment for LCD panels,
manufacturing business
OLED panels, and semiconductors
Information Processing
business⃝Software development⃝Leasing some real estate owned as logistics warehouses, etc.

Striving to Help Realize a Sustainable Society⃝Creating value for society and the public by building and protecting high-quality products and connecting
them to future generations

Engineering
Business

Corporate Value Enhancement Strategy• creation of a resilient social environment andharmonious coexistence with the naturalenvironment

Ro

BridgeBusiness

YBHD Group ProfileCo
Phi rporate
loso
phy

Corporate Philosophy

Consolidated Equity method
Groupsubsidiaryaffiliate
management

Data Section

11

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

12

Management Resources (Inputs)
The YBHD Group’s strengths include a workforce consisting of a large number of engineers, technical capabilities
accumulated through abundant achievements and experience, and a corporate culture of embracing challenges as
a leading company. In order to bolster these strengths further, we are working to enhance our management
resources, such as human capital and intellectual capital.

Manufacturing Capital

7

Production bases
Production capacity of the main plant

60,000 t/year
Chiba & Mobara Plants 90,000 t/year
Osaka Plant

Employees group-wide
Qualified personnel

2,017*
1,244*Including equity method affiliates.

Qualified personnel As of March 31, 2023

Persons
Professional engineers

165

First-class architects

40

First-class civil engineering
management engineers

753

First-class architectural construction
management engineers

130

First-class construction accountants

21

Second-class construction
accountants

135
1,244

Total

→ See P.53 and 54 for our human resource strategies.

Joint research achievements 
PeriodParticipants

Research topic

Patents held

Nov. 2012–Mar. 2024

Nippon Steel, Yokogawa Bridge Holdings,
Yokogawa NS Engineering

Mar. 2013–Mar. 2015

Geostr, Yokogawa NS Engineering

Research on expansion devices used forbridges and other structures
Development of steel/concrete composite
embedded formwork for constructing
large cross-section culvert top slabs
Research on rapid construction updating
techniques for existing RC slabs

180
R&D spending 500 million yen

Yokogawa Bridge, Metropolitan Expressway,
Kawada Industries, Kawada Construction

Dec. 2014–Mar. 2017

Hanshin Expressway, Hanshin Expressway
Technology Center, YCE, Yokogawa Bridge

Sept. 2015
–Dec. 2016
Dec. 2015–Mar. 2019

The University of Tokyo, Yokohama National
University, Maebashi Institute of Technology,
Yokogawa Bridge Holdings
Nippon Steel, Geostr, Yokogawa NS
Engineering

Apr. 2016–Mar. 2019

Nippon Steel Engineering, Yokogawa NS
Engineering

Apr. 2016–Mar. 2021

Yokogawa Bridge, Oxjack

Apr. 2017–Mar. 2021

Yokogawa Bridge, Oxjack

July 2017–July 2019

Yokogawa Bridge, Metropolitan Expressway

Feb. 2018–Mar. 2022

Nippon Steel, Yokogawa NS Engineering

Apr. 2019–Mar.2021

Yokogawa Bridge, Nikkei Engineering,
Yokogawa Bridge Holdings

Apr. 2019–Mar. 2022

Yokogawa Bridge, Nikkei Engineering,
Yokogawa Bridge Holdings

July 2019–Mar. 202

Tokyo Metro, Yokogawa NS Engineering

Nov. 2019–Mar. 2023

Yokogawa Bridge, Ecomott

Sept. 2020
–Mar. 2021
Apr. 2021–Mar. 2023

Yokogawa Bridge, Osaka Prefecture
University
Yokogawa Bridge, Osaka Metropolitan
University

Hazama Ando, Yokogawa NS Engineering

Development of segments for deep
underground road confluences
Joint research on structural improvementof closed cross-section ribbed steel plate
reinforcement
Performance evaluation of blast furnace
slag concrete for increased durability ofsteel bridge RC slabs
Development of steel/concrete composite
structure seawalls
Structure proposal for small andmedium-span bridges and research on
replacement and renewal techniques
Research on power dampers with bridge
collapse prevention function
Development of earthquake-resistantequipment (grippers) in the direction of
the bridge axis
Research on the structure andconstruction method of slab connectors
in existing RC slab renewal
Research on steel plate structure for
rapid renewal of existing RC slab bridges
Research on floor panel span extension
in “cusa” aluminum alloy permanent
scaffolding
Research on a reverse-side soundabsorption feature for “cusa” aluminumalloy permanent scaffolding
Product development of new tubular
steel columns with stacked steel bearing
platesDevelopment of AI-based management
system for tightening high-strength bolts
Development of damping assessment
method for highly damped structures
Development of highly damped
structures

1,300

Over

(Engineered structures affiliated builders)

Breakdown of consolidated orders received
Ministry of Land, Infrastructure,
Transport and Tourism 7.5%
Local governments 4.5%

Overseas 0.7%

In the bridge business, we have received orders for new
construction, maintenance work, and overseas
construction from various clients, such as the Ministry ofLand, Infrastructure, Transport and Tourism (MLIT), local
governments, highway companies, and privatecompanies, based on the relationships of trust we havecultivated up to the present.

Financial capital
As of March 31, 2023

110.4 billion yen
Interest-bearing debt 21.4 billion yen
Stockholders’ equity

In order to support business continuity as a builder ofbridges that require 100 years of durability, we strive to

Financial capital
As of March 31, 2023

26.61million kWh
Steel consumption 143,000 tons

Power consumption

Highway companies 26.7%
Private companies
58.4%

Other national
institutions 0.1%
Railway-related 2.1%

ensure financial soundness with a basic capital policy ofmaintaining a balance between financial trustworthinessand capital efficiency and a basic shareholder return
policy of paying graduated dividends and flexibly acquiring
treasury stock. We secure operating capital and funds forcapital investment through free cash flow and indirect
procurement, and financial stability and liquidity aresupplemented by commitment line agreements.
→ See P.83-90 for financial information.

The YBHD Group strives to use resources efficiently by
quantitatively ascertaining and scrutinizing resource andenergy usage at its business sites in Japan.
In addition, we will drive the reduction of environmental
impact by actively working on the use of renewableenergy and the development of environmentally friendly
products and construction methods.

Data Section

The YBHD Group has built many pioneering buildings ofvarious types. The Saikai Bridge, which we worked on in
1955, was Japan’s first large and long fixed-arch bridge.
The Kasumigaseki Mitsui Building (now the Kasumigaseki
Building), which we built in 1968, was Japan’s firstskyscraper. In addition, as a leading bridge company,
we have taken on the challenge of building other Japanfirst and even world-first bridges, such as Kurushima
Kaikyo Bridge, which is the world’s first triple suspension
bridge, and Akashi Kaikyo Bridge, which boasted theworld’s longest span at the time it was built.
To further enhance the technical capabilities
accumulated through such abundant achievements andexperience, our Technical Research Laboratory andoperating companies work together, and we focus on
R&D through joint research with universities and research
institutes.

Dec. 2013–Mar. 2016
Apr. 2014–May 2015

As of March 31, 2023

156.9 billion yen

Order value
Sales and construction agentsIn the engineered structure system business, we arefocusing on customer development and market
expansion in collaboration with more than 1,300 affiliatedbuilders nationwide.

Striving to Help Realize a Sustainable SocietyIntellectual capitalSocial capital

Osaka Plant

production of various large steel structures.
In the engineering business, we operate the industry’s
only plants dedicated to engineered structures (Chiba
Plant and Mobara Plant) at full capacity to further
increase our market share in the field of engineered
structures. → See P.91 for information on our bases.

Corporate Value Enhancement Strategy

For the YBHD Group to achieve sustainable growth, it isessential to improve the technical capabilities of
employees – our human talent. Orders for public works
projects, in particular, require experienced, qualified
personnel, so we need a large number of highly
specialized engineers. In order to support and promoteautonomous career development, the Group has a selfreporting system in which employees meet with theperson in charge of their department to talk abouttransfer or skill development desires. We use this system
to conduct job rotations and appropriate personnel
assignments according to aptitude. We also actively
provide support for employees who need to attend

The YBHD Group has its own production bases, suchas large plants that manufacture bridge parts, where
employees and skilled production department craftsmen
fabricate and assemble parts.
The Osaka Plant, which is our main plant, is located in
the Sakai Senboku Coastal Industrial Zone. As a plantwith state-of-the-art equipment, it is responsible for the

YBHD Group Profile

Human capitaltraining sessions and seminars, including those needed
to obtain related qualifications. The expertise of eachand every employee, deepened in this way, is the sourceof the Group’s high technical capabilities.

→ See P.61-64 for our environmental initiatives.

→ See P.51 and 52 for our R&D initiatives.

13

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

14

Services Provided (Outputs)
Centered on the bridge business, which leverages our strength of comprehensive technical proposal capabilities
encompassing the entire process from design and fabrication to erection, construction, maintenance, anddiagnostics, the YBHD Group is engaged in a wide range of businesses including the construction business suchas engineered structures, civil engineering-related businesses such as steel segments, and the advanced technology
business, which includes precision equipment manufacturing and information processing.

YBHD Group Profile
Corporate Value Enhancement Strategy

Mitsuya Plant (4th Plant), Atsumi Kogyosho

Net sales and orders received (FY2022)
Real Estate Business 0.6 billion yen

Bridge Business87.0 billion yen

Precision Equipment Business4.3 billion yen

Net sales

164.9

Order balancebillion yen

Up 20.5% YoY

15

Yokogawa Bridge Holdings Integrated Report 2023

156.9

54.5 billion yen
18.3 billion yen

Engineering BusinessOur “yess” buildings, which utilize Yokogawa’s proprietary steel structural technology, are engineered structures with first-rate
design and flexibility. They range from buildings with standard dimensional specifications to highly flexible custom-madespecifications, depending on the purpose and use. With high quality, low cost, and quick delivery, our engineered structure systembusiness has steadily increased its share in the industry and continues to grow as our second core business after the bridgebusiness.

billion yen

Down 0.7% YoY

Engineered Structure System Business
Civil engineering / Construction and machinery steel

As a leading company in the bridge industry, we are constantly engaged in the development of cutting-edge technologies and havebeen involved in the construction of many of Japan’s leading bridges. In response to the aging of existing facilities and the need todevelop infrastructure that is resilient to natural disasters, we have established a total maintenance business system that covers
everything from inspections and surveys to design, fabrication, and on-site construction in maintenance and repair work, thus
contributing to the maintenance of safe and high-quality social infrastructure along with new bridge construction.

Engineered structure systembusinessEngineering Business
Civil engineering / Construction
and machinery steel

Precision Equipment
BusinessEngineering Business71.3 billion yen

Engineering Business72.9 billion yen
Engineered Structure System Business
Civil engineering / Construction and machinery steel

Consolidated

Bridge Business52.6 billion yen
18.7 billion yen

Our civil engineering business focuses on port and offshore structures for earthquake and tsunami protection, and the steel segment businessaddresses the utilization of underground space, such as major urban ring roads. In our special structures business, we are engaged in integrated
design, construction, and maintenance services related to “movable buildings,” such as retractable roofs for swimming pools and stadiums. We
are also contributing to a variety of other fields related to the construction business, such as work on steel frameworks for high-rise buildings,
etc., the construction of stadiums, and producing steel machinery structures for water gates (floodgates) and ship-lifting equipment.

Data Section

Consolidated

Bridge Business81.8 billion yen

Precision Equipment
Business
3.7 billion yen

Striving to Help Realize a Sustainable Society

Kesennuma Bay Crossing Bridge (Nickname: Kanae Ohashi)

In the precision equipment manufacturing business, we provide a stable supply of high-precision products with excellent cost
performance for use in the production of precision machinery manufacturing equipment for semiconductors, LCD panels, etc.,
through our integrated production management system from structural frame design to manufacturing. In the information
processing business, our products, such as APOLLO, which is a total system for steel bridge design, and the CA* (Caster) series
manufacturing simulation system, have gained the top share in the steel bridge industry.

Yokogawa Bridge Holdings Integrated Report 2023

16

Bridge blocks painted in the plant
are transported to the construction
site.

Building Strong Bridges Bridge Building Process
The YBHD Group accurately meets diverse requests and contributes to the development of social infrastructure by
exercising its comprehensive technical and management capabilities in all processes of bridge design, fabrication, and

YBHD Group Profile

construction.

Order

DesignAssembled blocks are then fully or partially assembled
temporarily into the bridge’s finished shape to check that
there are no errors in shape and dimensions, thus making
sure that there will be no problems in on-site construction.
There are two kinds of temporary assembly: actual
temporary assembly, in which the blocks are actuallyassembled, and simulated temporary assembly using acomputer-based 3D measurement system.

Fabrication

Fabrication

Fabrication

Fabrication

Arrangingmaterials

Cutting /Machining

Welding /Assembly

Temporaryassembly

Painting

Transportation
Striving to Help Realize a Sustainable Society

Fabrication

Corporate Value Enhancement Strategy

After creating comparative designs
to select the form of the bridge
most suited to the road plan andconditions, a detailed design ismade, including the creation ofdetailed drawings. In addition, adesign review is conducted toverify the validity of the design.

After temporary assembly, theblocks are dismantled andpainted. Some bridges use
weather-resistant steel materials
that do not require painting.

Materials are procured based on the design.
The primary material is steel plate.

17

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

The procured steel plate is cut into thedesigned shape. Steel bridges arefabricated in blocks that can betransported from the plant to theconstruction site. It is common to use
bolts as the method of joining the blocks
that make up a bridge. For this reason,bolt holes are drilled at the joints of the
cut steel plates.

Individual steel plates thathave been machined, suchas by drilling holes, areassembled by welding tocreate the shape of theblocks that will make up thefinished bridge.

Yokogawa Bridge Holdings Integrated Report 2023

18

Tamagawa Sky Bridge

Building Strong Bridges Bridge Building Process

Individual blocks are assembled on
the ground or on temporary facilities
into a size suitable for erection. The
blocks are joined by welding andbolting.

YBHD Group Profile

Construction site experts gather to build the bridge with great care forsafety. Depending on the type of bridge, topography, environment, andother conditions on site, the way the bridge is supported during
construction and the block transportation equipment will change.
Moreover, there are about 20 methods to erect bridges. In order to stickto the schedule for completion while ensuring safety as the top priority, it
is necessary to respond quickly to daily changes in circumstances. Everytime someone has a question, no matter how small, we stop the work andcheck and discuss it as many times as needed until everyone is satisfied.

Construction

Temporaryfacilities

Erection

Groundassembly

Girderconstruction

Construction

Construction

Deck

Painting

Completion

Corporate Value Enhancement Strategy

Once completed, the bridge will provide
a route over which people, goods,
hearts, and cultures pass. It will continue
to support safe and secure lives byconnecting people and communities.

Striving to Help Realize a Sustainable Society

The joints between the blocks are painted.
Data Section

Temporary facilities are set up
to support the bridge during
construction. The temporary
facilities are dismantled after
all erection work is completed.

19

Yokogawa Bridge Holdings Integrated Report 2023

Using cranes, etc., the assembled blocks are lifted into
place one by one in the order in which they are to beinstalled and built into a bridge.

A deck is built on top of the erected steel girders sothat vehicles can travel on it. The material is mainly
reinforced concrete, but there are also steel decks
fabricated from steel plate in plants.

Yokogawa Bridge Holdings Integrated Report 2023

20

Building Large Spaces Factory and Warehouse

Warehouse Building, New Kuki Shobu Sanga Logistics Facility, Yamashiro Rikuun

Head Office, Kikuta Iron Works Co., Ltd.

Uniqlo Maebashi Minami Interchange Store

Wam All Athlete Station

Engineered structure system
Yokogawa Engineered Structure System (“yess”) is an architectural brand that specializes in buildings with large, pillarless
spaces that are manufactured and constructed by applying Yokogawa’s own structural specifications to the engineering of

YBHD Group Profile

engineered structures. This enables the construction of high-quality buildings, mainly plants and warehouses, with shortdelivery times at low cost by standardizing parts such as beams, pillars, roofs, exterior walls, fittings, etc.

Affiliated builder
ClientYokogawa System
Buildings(contact point)

Everything fromestimates to construction(manufacturer)

Design and production

In addition to direct sales activities,
we are developing this business by leveraging our network of more than 1,300 affiliated builders nationwide.

Order-taking

We have established a system toproduce “yess” buildings in the only
plant in Japan dedicated to systembuildings. This allows us to provide
a stable supply of high-quality
materials in a short time and at alow cost.

DesignProduction

Construction

Completion

Frame system for “yess” buildings

Roof system for “yess” buildings

Wall system for “yess” buildings

Accessories for “yess” buildings

Our proprietary design method

Metal roofs set with insulation

We have a large lineup from

We provide a full range ofenables weight savings andensure high insulation atwhich selections can beaccessories, such as shutters,

large spans in the frame useda low cost.

made according to thedoors, cranes, etc.

for pillars and beams.

21

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Four systems to create “yess” buildings

Striving to Help Realize a Sustainable Society

The design and production system for “yess” buildings isbased on the steel bridge structure technology we havecultivated in the bridge business. This is achieved
through the Scapy3D & YMD System, which is a structuraldesign and production design system exclusively for“yess” buildings that has been independently developedby Yokogawa System Buildings.

Corporate Value Enhancement Strategy

What are “yess” building sales and construction partners (affiliated builders)?
Affiliated builders nationwide serve as direct contacts for clients, and the YBHD Group’s Yokogawa System Buildings supports
the builders. To facilitate clients’ business expansion and ensure that their capital investment goes smoothly, we provide support
together with affiliated builders, from consultation to construction and maintenance.

Mobara Plant, Yokogawa System Buildings

Rational construction methods thatstandardize members and joints enable
construction in a short period. Moreover,since “yess” buildings can have pillarless
spaces of up to 60 meters, they can beused in various fields, such as sports
facilities and stores, in addition tofactories and warehouses.

application and design.

Yokogawa Bridge Holdings Integrated Report 2023

22

Our Businesses

New Bridge Construction Business—Building Bridges
DesignFabrication

Construction

Based on clients’ project plans, we select and bid on

In our design work, we employ specialized engineering in

Bridges are characterized not only by being large structures but

Our construction planning division leads the planning of

projects to target for orders while analyzing factors such asorder to safely construct and provide steel bridges withalso by the fact that no two are exactly alike. Our plants haveconstruction methods based on the surrounding environment,

our past project track record, the feasibility of proposing

high safety and durability. Our design system complies withdedicated bridge production lines to efficiently manufacture

construction conditions, and project timeline. If there are safer

new technologies, and competitor trends.

ISO 9001 and utilizes quality control with BIM/CIM tothem. Machinery like processing machines and welding robots

and higher-quality methods than the initial plan, we will propose

deliver high-quality products.

are linked to our proprietary bridge fabrication information

them to the client and change the erection methods andequipment used.

Our sales and engineering departments collaborate,
gathering and researching information based on past analysis,

We also believe contribution to environment conservation

system CastarJupiter. This enables an integrated bridge

to understand the technical specifications and expected priceand sustainability is important. Accordingly, we continuously

production system that delivers reliable, high-quality products.

Once construction begins, we conduct optimal process

points that the client is looking for, aiming to win the contract.

work to reduce CO2 emissions in the bridge fabrication

We also strongly promote DX in our plants. Efforts such as

control for safety, accurately assembling stable-quality factorymade products on site and completing structures on schedule.

After being awarded a construction project, the sales

process, such as by reducing the amount of steel used andusing tablet devices in plant work to implement paperlessdepartment coordinates with relevant departments on initiatives torevising welding methods. We also collaborate with

operations with electronic forms and vitalize communication

earn construction performance assessment points and respond tosteelmakers in this effort.

with business chat are made to continuously improve
productivity.

Recently, we have been conducting more site tours for nearby
residents and schools, and this has been well received.
When large natural disasters occur, we promptly respond to

We strive for further quality enhancement by incorporating theconstruction scope. The department also proactively holds sitelatest ICT technologies and various technical information andsupport requests from authorities to quickly restore damaged

tours and other events to contribute to the local community.

continuously making improvements through the PDCA cycle.

road bridges, railway bridges, and other vital infrastructure.

⃝ We
have
accumulated
diverseconstruction
achievements since our founding and have numerous
experienced engineers.

⃝ As a group of engineers embodying the spirit of our
founder to “Embody integrity! Create outstanding things!”
we achieve quality improvement through teamwork,
leveraging our abundant and versatile human resources.

⃝ With sales offices and construction sites nationwide, wegather information leveraging our extensive network.
⃝ Our technical capabilities and quality-driven brandstrength garner high praise and trust from customers.
(Designated as an Excellent Construction Company by
the Regional Development Bureau of the Ministry ofLand, Infrastructure, Transport and Tourism)⃝ In addition to on-the-job training, our human resource
development system aimed at multi-skilling maintains
and enhances technical capabilities.
⃝ Workflows adapted to diverse work styles create anenvironment where people can work long term.
⃝ We are achieving operational efficiency and productivity
improvements by utilizing BIM/CIM in collaboration with
the Group’s information processing business.

⃝ We use proven manufacturing technologies, such as welding
techniques accumulated over many years, to manufacturehigh-quality bridge components.
⃝ Our proprietary automatic full-scale 3D tracing system anddedicated bridge production lines enable us to manufacturehigh-quality bridge products.
⃝ With various processing machines, we achieve short delivery times
and high productivity through 100% in-house steel plate processing.
⃝ With 200-ton lifting capacity crane facilities, we can fabricate
large bridge components.
⃝ Our pier, enabling the docking of large marine cranes, allows
marine transport of large block girders.

⃝ The experience cultivated through our long history, from thedawn of steel bridge fabrication and erection to the presentday, is passed down to employees as a track record ofachievements and a sense of responsibility.
⃝ From large-scale projects to local infrastructure development,
we utilize our expertise and technical capabilities to meetcustomer needs.
⃝ Using our proprietary BIM/CIM software and erection design
programs, we simulate complex behavior during construction
to build high-quality structures.
⃝ We safely carry out challenging construction projects byleveraging our large inventory of specialized erection
equipment and collaborating with highly skilled andexperienced top-tier subcontractors.

Striving to Help Realize a Sustainable Society⃝ We have abundant human resources capable of handlinglarge-scale projects.

⃝ In collaboration with the Technical Research Laboratory,
our designers develop and improve product lines
including composite bridge decks, permanent aluminum
scaffolding, and earthquake-resistant products.

⃝ Our main Osaka Plant has delivered many of Japan’scelebrated bridges nationwide, cementing its reputation as
Japan’s leading bridge fabrication plant.

Corporate Value Enhancement Strategy

Yokogawa’s Strengths

design changes accompanying additions and alterations to the⃝ We win contracts with our ability to propose newtechnologies backed by proof-of-concept tests
conducted in collaboration with R&D.

YBHD Group Profile

Overview/Department in Charge

Sales

Promoting DX in Factory Production
Takashi Fujimoto, Osaka Plant, Production Headquarters, Yokogawa Bridgethat was previously difficult to convey through words and documents

bridge fabrication, maintaining high productivity requires the rapid sharing

alone, greatly contributing to operational efficiency.

and mutual understanding of various types of information. To enable this,In the use of DX for safety, we have a system where safety patrol

we utilize tablet devices in our plant, allowing centralized management offindings input directly into tablets on-site are automatically distributed to

information and rapid response by electronically issuing all kinds ofthe departments in charge, enabling prompt and efficient improvement

production documents, such as drawings and work procedures.

of unsafe conditions. We have also introduced a quadruped robot

For the cable-stayed bridge tower fabrication that I am involved in, we

Data Section

While communication between engineers and workers is essential in▲▶ Cable-stayed bridge tower
under fabrication

nicknamed “Y.LEAD” to help reduce manpower in safety patrols.

utilize tablets to promote mutual understanding with workers of the

While leveraging our accumulated manufacturing expertise, we

complex structure. Sharing visual information through video calls andincorporate new technologies to pursue further quality and productivity

photos allows me to give precise instructions remotely even for content

improvements.
◀ Safety patrol using the quadruped
robot “Y.LEAD”

23

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

24

Our Businesses

Maintenance Business—Protecting Bridges
Sales

Planning

Construction

Bridge repair and reinforcement work is carried out after
damage is assessed through periodic inspections by the client.
The target bridges are then selected and repair methods are
examined and designed by consultants. For large-scale renewal
projects, further considerations are taken into account, such as
traffic impact, before the work is commissioned.
We consider whether we have the capacity in terms of onsite personnel, design staff, material supply, and partnercompany arrangement, before bidding for a commissioned
project. For increasingly diverse maintenance work, the ability
to estimate costs and provide quotes based on accumulated
data greatly affects whether contracts can be won.
In maintenance projects, changes in conditions often arise
after contracting due to discrepancies between initial plans andactual site conditions. We coordinate with relevant departments
to address design changes, which take considerable time. We
also provide on-site support, such as client handling.

Maintenance projects begin with a survey of the existing
structure after contract award. Scaffolding enables close
visual inspection, but members designed for repair based on
design documents and inspection results sometimes cannot
be installed due to factors such as structural degradation
over time. Therefore, a detailed survey must be conducted
promptly considering the project content. In recent years,
the use of BIM/CIM to measure 3D point cloud data to grasp
three-dimensional shapes and confirm workability has
resulted in quality and productivity improvements.
Furthermore, in addition to conventional maintenance work
such as crack repair, we are strategically strengthening ourtechnical capabilities and systems to handle diversifying
projects, such as bridge deck replacement and permanent
scaffolding installation, as well as larger-scale projects.

For site construction, the planning department considers optimal

In on-site construction, the construction division takes the lead

combinations of safety, quality, schedule, cost, and other factors

in daily safety management, quality control, progress monitoring,to determine the best construction method. Recently, there isand cost management. Selecting the right partner companies

demand from all quarters for construction that takes into accountfor the construction project is also important. The role of partner

carbon neutrality and reduced environmental impact, and wecompanies

actively adopt new technologies and techniques that contribute

maintenance business as the variety of work diversifies andto these goals. Also, the use of BIM/CIM in construction planning

projects become larger.

⃝ We have the ability to handle diverse projects based on our⃝ We possess advanced technical capabilities in the maintenancebusiness, built up through many years of achievement.

construction experience.
challenging construction work such as special bridges.
⃝ Ourwell-developed

costestimating

systemenables

meticulous response to clients, even amid design changes.
⃝ The high acclaim and trust we receive from clients has
earned us numerous construction awards.
⃝ Leveraging extensive achievements and experience, we willlead the bridge maintenance business.

⃝ We thoroughly understand and reliably respond to clientneeds based on our corporate culture of valuing integrity.
⃝ We achieve continuous evolution in the maintenancebusiness by actively utilizing cutting-edge technologies.
⃝ We have established BIM/CIM-compatible design skills
and systems, contributing to productivity improvement.
⃝ We realize rational, effective design and construction
through close coordination between surveying, design,
fabrication, planning, and construction.
⃝ Responding to a diversified work environment, we
systematically cultivate versatile engineers by actively
rotating staff between new bridge construction andmaintenance and promoting work-style reforms.

Materials used on-site are delivered after being arranged by theincreasingly

importantintheThe safety division periodically patrols sites, checking thestatus of safety management and legal compliance, and requires
the construction division to rectify any problems.

procurement division at reasonable prices and with on-time delivery.

When technical problems or issues are found on-site,

At the start of on-site work, members from each division, including

specialist engineers from each division are called together tosales, design, planning, procurement, construction, and safety, meetcollaboratively resolve the problems and complete the work

to share points requiring attention in carrying out the work.

within the deadline while ensuring the required quality.

⃝ We have a long history and wealth of construction experience,
having inherited the advanced technical capabilities of Yokogawa
Maintenance Technology Co. (now Yokogawa Bridge),
established in 1988 as a specialist bridge maintenance company.

⃝ We promote technological development related to bridge
maintenance construction through coordination within ourcompany, with Group companies, and with external institutions,making us highly competitive in the bridge maintenance market.

⃝ In maintenance work, we have been awarded many projectand engineer awards, earning deep trust from various
ordering agencies and road administrators.

⃝ We possess many bridge-related products, such as seismic
control devices and permanent aluminum alloy scaffoldingthat can generate synergy with the maintenance business, aswell as high technical and proposal capabilities combining
these products with various construction techniques.

⃝ In addition to our inherent steel structure technology, we have
many engineers with diverse skills, including expertise in concrete
technology, and have established construction systems capableof handling many types of large-scale and difficult projects.
⃝ We have a wide variety of construction machinery andequipment, along with several of our own plants in Japan for
their maintenance, and are working to improve the safety andproductivity of on-site construction.

⃝ In collaboration with a department specialized in ICT construction,
we actively engage in the “i-Construction” promoted by Japan’s
Ministry of Land, Infrastructure, Transport and Tourism.
⃝ We have established a network among partner companies
with high technical capabilities, promoting information sharing
and strengthened coordination.

Striving to Help Realize a Sustainable Society

Yokogawa’s Strengths⃝ We have many experienced site engineers and excel in highly

productivity improvements pursued in each project.

becoming

Corporate Value Enhancement Strategy

strong information-gathering capabilities and extensive

has a major effect in maintenance work, with safety andis

YBHD Group Profile

Overview/Department in Charge

Surveying/Design

Large-Scale Repair Work on the Metropolitan Expressway Kanagawa Route No. 2 Mitsuzawa Line
Toshiya Ozaki, Tokyo Construction Dept. 2, Tokyo Construction Headquarters, Yokogawa Bridge
This project involves large-scale repair work on the Metropolitan Expressway

The construction area is located in a busy downtown area densely

scaffolding installation, structural improvement, and repainting. The existing

packed with buildings and commercial facilities, with high pedestrian

bridge’s underside was fitted with exterior louvers, making close inspection

traffic day and night. The subject bridge has a two-level structure. Whendifficult, even with mechanical scaffolding. Damage to the exterior louvers wasworking on the upper level, traffic on the lower-level highway is regulated

also reported, increasing the need for renewal. Permanent scaffolding was

at night. When working on the lower level, we occupy the waterway andinstalled in consideration of safety, maintainability, and cost performance.

public roads, making safety management for general vehicles and

The site employs about 20 staff members, including a wide range ofpedestrians important. Working day and night without interruption, weages from young to veteran members, women, and foreign nationals.

are progressing with construction as a team while taking meticulous careAround 10% of the approximately 100 people working on-site are foreign

to achieve accident- and disaster-free completion.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

25

nationals, making for a diverse construction site.

Mitsuzawa Route near the west exit of Yokohama Station. It includes permanent▲ Continuous connection of Gerber girders▲▶ Installed “cusa” permanent scaffolding

Yokogawa Bridge Holdings Integrated Report 2023

26

Our Businesses

Engineered Structure System Business—Building Large-Scale Structures

DesignProduction

Construction

We provide clients with optimal buildings that meet needs

The design department supports technologies enabling

Production takes place at two plants, the Chiba Plant located in

We construct approximately 600 buildings annually while

for cost, construction timeline, space utilization, etc., bystreamlining and weight reduction in “yess” building design

Sodegaura City, Chiba Prefecture, and the Mobara Plant inconsidering safety and the environment and achieving shortswitching from conventional to engineered structure

through construction, providing optimal plans capturing

Mobara City, Chiba Prefecture. The Chiba Plant specializes inconstruction periods. Steel framework erection involves

system construction methods to having warehouses andclients’ building visions. While specialized in warehouses

producing steel framing materials for purlin and furring strips andlightweight, standardized members, enabling better workability

factory buildings across Japan. Our sales and construction

and plants, “yess” buildings are also used for various otherexterior materials for roofs and walls. The Mobara Plant

than conventional steel frameworks and allowing construction

agency builders and internal engineering departments

applications such as offices, stores, and sports facilities.

specializes in BH members for main pillars and large beams.

with fewer workers. Amid an intensifying labor shortage in thecollaborate to put together plans to realize this.

We have built over 10,000 buildings that meet the

Automatic dedicated production lines at both plants greatly

construction industry, we are addressing the lack of engineers

expectations of clients by realizing the functions andcontribute to production efficiency and product quality

and workers.

designs they have requested.

assurance.

Demand ranges from 200 m2 to over 20,000 m2 dependingon the building’s intended use, but no matter the plan, we

We also thoroughly pursue standardization in design,

put together proposals that capture the clients’ visions.

operational efficiency, playing a central role in improvement

and sports facilities to provide products essential for urban

activities for product quality, cost performance, and shortdevelopment.

delivery times.

In addition to direct sales activities, we leverage a network

A feature of “yess” buildings is a design method for achieving
weight and labor reductions through a construction methodthat has acquired structure general appraisal certification.
Based on advanced design technology, the design andproduction system for “yess” buildings is grounded on Yokogawa’s
proprietary steel structure technology cultivated in our bridgebusiness and achieved by combining this with the “Scapy3D & YMD
System,” a structural and production design system independently
developed by Yokogawa System Buildings for “yess” buildings.

of over 1,300 affiliated builders nationwide to expand ourYokogawa’s Strengths

business.
Yokogawa Engineered Structure System (“yess”)
Buildings Sales and Construction Agency Builders(affiliated builders)Affiliated builders nationwide serve as direct contacts forsmoothly, we provide support together with affiliatedtoconstruction

joints enable construction in a short period. Moreover, sincezero, in order to efficiently produce “yess” buildings’ unique steel“yess” buildings can have pillarless spaces of up to 60 meters,

members and roofing/exterior wall materials. Stable production

they are used for buildings in various fields beyond warehouses,and quality assurance are possible with dedicated production

such as sports facilities and stores.

lines, allowing us to supply products responsibly and confidently.
While emphasizing product quality assurance, we aim tofurther improve production capabilities by enhancing production◀ Structural analysis
Scapy3D

expansion and ensure that their capital investment goes
consultation

Rational construction methods that standardize members andensure that the lead time for arranging materials is essentiallydemand for “yess” buildings in recent years.

supports the builders. To facilitate clients’ businessfrom

In addition to owning specialized plants, we stock materials toefficiency at both specialized plants in response to the increasingclients, and the YBHD Group’s Yokogawa System Buildings

builders,

abundant experience.

Striving to Help Realize a Sustainable Society

fabrication, and on-site construction for labor andOur construction site system comprises our own exceptional
engineers at the core, along with partner companies withand◀ Structural diagram YMD

maintenance.

Corporate Value Enhancement Strategy

To bring the visions of many clients to life, we are also
expanding into building applications such as offices, stores,

YBHD Group Profile

Overview/Department in Charge

Sales◀ Exterior diagram YMD

Tomomasu Drink Co., Ltd. Warehouse and Office
Yoshinori Murakami, Fukuoka Branch Manager, Osaka Sales Department, Sales Division, Yokogawa System Buildings

27

Yokogawa Bridge Holdings Integrated Report 2023

building, a system structure product of the YBHD Group, for this project.
It is a large logistics warehouse with a building width of 80 meters, abuilding length of 170 meters, an eaves height of 12 meters, and a total
floor area of 9,698m2.
The design and construction conditions were challenging, involving alogistics warehouse with a second-floor office space and two otherwarehouses placed in tandem on a slope. However, “yess” buildings
offer high design freedom despite being system structures, and can be
combined with conventional construction methods. This allowed us to
fully demonstrate “yess” buildings’ strengths and provide a building thatmet expectations for price, construction timeline, and quality.
Going forward, “yess” buildings will continue contributing toconstruction investment nationwide.

Data Section

I will introduce the warehouse and office for Tomomasu Drink Co., Ltd.
completed in March 2023.
Tomomasu Drink Co., Ltd. is a beverage maker in Saga Prefecturewith a history spanning over 120 years since its establishment in 1902. It
manufactures and sells a wide range of beverages, especially cider andcarbonated water but also including fruit juices, sports drinks, andalcoholic beverages. It has also recently produced many products with aplayful spirit, such as Kodomo Beer (Kids’ Beer), so please check themout in stores or online shops.
To respond to growing product demand, the company decided to build
a new logistics center on land adjacent to its Ogi Plant and head office in
Ogi City, Saga Prefecture—one of two production sites, the other being the
Fujisan Plant in Fujiyoshida City, Yamanashi Prefecture. It chose a “yess”

Project Name: Tomomasu Drink Co., Ltd. Warehouse Building
Building Overview: Total floor area 9,698 m2
Location:
2575-3 Iwakura, Ogi-machi, Ogi City, Saga Prefecture
80 meters wide × 170 meters long × 12-meter eaves height

Yokogawa Bridge Holdings Integrated Report 2023

28

Our Businesses

Civil Engineering Business (Tunnel Segments)—Manufacturing Tunnel Segments
DesignFabrication

Tunnel segments are structures forming undergroundspaces constructed using the shield method, serving asimportant walls bearing the weight of soil and water.
The shield method involves excavating through theground with a shield machine while assembling segments
inside the tunnel. Segments are products created by
dividing the tunnel wall into sections.
In Japan, this shield method is widely used for theconstruction of road and railway tunnels, mainly in Tokyoand other urban areas.

The tunnel segments the YBHD Group manufactures are sold

Tunnel segment design conditions vary enormously depending

Steel shell fabrication for segments is primarily performed at ouras products to primary contractors carrying out construction

on the construction site, including natural conditions such as

Kashima Plant in Kamisu City, Ibaraki Prefecture. Since

projects. While there are general-purpose segments for shield

groundwater and geology as well as tunnel use, construction

beginning operations in April 1999, the Kashima Plant has

tunnels, the YBHD Group targets large construction projects

methods, ground surface conditions, surrounding existing

fabricated many segments and bridges with approximately 200

such as roads and railways where the tunnels themselves areunderground structures, etc. We work with clients to solve theseplant staff. After receiving material delivery, it handles fabrication,

large in scale, with circular to rectangular and other diverse

challenges and determine optimal safe, secure, and economical

in-factory painting, and product transport. Leveraging longcross-sectional shapes and various ground conditions.

segment structures.

years of accumulated experience and high technical capabilities,

While our designs adhere to guidelines from institutions likethe plant delivers high-quality products with reduced fabrication

technical capabilities and product features/advantages to

the Japan Society of Civil Engineers, advanced technical design

and inspection costs achieved by advancing automation withclients and make technical proposals encompassing design.

adopts many other standards. In some cases, we use a 3D

welding robots and digitization of inspection.

Only when our proposals align with client needs do we receive

development system in collaboration with Yokogawa Techno-

For composite segments where the steel shell is filled withan order. While technical proposals for large projects are

Information Service when special geometries need to be verified.

concrete, we have selected high-quality concrete plants withextremely difficult and time-consuming, we are proud of the

For development and performance confirmation, we work withproven track records.

YBHD Group’s role in accomplishing this.

Yokogawa Bridge Holdings’ Technical Research Laboratory.

Segments account for a high proportion of tunnel⃝ We have many years of experience and knowledge regarding
the shield method and tunnel segments.

While tunnel segment projects involve large production volumes,⃝ We possess broad knowledge and technical capabilities
encompassing everything from materials to engineering forsteel structures as well as high technical capabilities regarding
steel–concrete composite structures.

tailored to customer requirements through collaboration within⃝ We offer optimal one-of-a-kind products such as six-sided
steel shell composite segments and TUF segments that are
ideal for tunnels requiring high bearing capacity, such as
those at great depths and with large cross sections.

development with project owners and primary contractors,

construction costs as the only permanent structures,quality. By handling design, fabrication, and delivery
together and by bringing the advanced technical capabilities
we have cultivated to bear in projects, we have gained
deep client trust.

we achieve high-quality, stable fabrication and production plans
the YBHD Group, including the Technical Research Laboratory
and our production plants in the Kansai, Kanto, and Hokkaido
regions. We also proactively engage in joint research andaiming for promising business development.

Striving to Help Realize a Sustainable Society

Yokogawa’s Strengths▲▼ Conceptual image of a shield tunnel

leading to high client requirements for performance and⃝ We have over 50 years of tunnel segment design andmanufacturing experience, with extensive achievements ranging
from medium-sized tunnels with an external diameter of around5 meters to large ones exceeding 15 meters in external diameter.
▲ Segment loading test

Segment ▶

Corporate Value Enhancement Strategy

Therefore, from the project planning stage, we explain our

YBHD Group Profile

Sales

Overview/Department in Charge

What are Tunnel Segments?

▲ Segment fabrication

Designing Shield Tunnel Segments
Shunsuke Nakamura, Underground Space Engineering Department, Yokogawa NS Engineering Corp.
find it interesting to solve the various design challenges through repeatedand gas pipelines to large road and railway tunnels. Yokogawa NS

communication with clients and people outside and inside the company.

Engineering specializes in large-diameter shield tunnel segments
between 7 and 16 meters, used for roads and railways.
Required performance and functionality vary enormously based on
ground conditions at the construction site, crossing conditions,29

The way we work has changed considerably over the past few years
with remote work and online meetings and inspections. Going forward,
we will continue to actively adopt new technologies such as ICT and AI
to improve productivity.

construction methods, and use (roads, railways, walkways, etc.). The

With various large-scale underground road and railway projects underway

railway tunnel I am currently working on is situated in soft ground in an area

in urban areas, we will contribute to social infrastructure developmentwith a high risk of major earthquakes. This is a challenging setting, but I

through the safe, secure design and fabrication of shield tunnel segments.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Shield tunneling methods range from small-diameter tunnels for water▲▶ Segment design

After assembly completion ▶

Yokogawa Bridge Holdings Integrated Report 2023

30

YBHD Group Profile
Corporate Value Enhancement Strategy

Business Strategy
Bridge Business……………………………………37
Engineering Business………………………………41
Precision Equipment Business… ………………47
Business Base Strategies
DX Strategy… ………………………………………49

Striving to Help Realize a Sustainable Society

Corporate Value
Enhancement Strategy

Sixth Medium-Term Management Plan……………33

Technology Strategy… ……………………………51
Human Resources Strategy………………………53

31

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

ESG Initiatives………………………………………55

32

Sixth Medium-Term Management Plan

Basic Policies

Build a highly resilient business base

2 Create and develop diverse businesses
Move into new fields such as seawalls, port facility upgrades, and offshore wind turbines

Business Base Strategies

 Engineering business Engineered structure system

P.41-43

 DX Strategy

P.49-50

 Technology Strategy

P.51-52

 Engineering business Construction and machinery steel

P.44-46

 Human Resources Strategy

P.53-54

 Precision equipment businessP.47-48

 ESG Initiatives

P.55-58

Civil engineering /Precision equipment,other¥7.4 billion

Net sales in FY2024¥187.0 billion
Operating income
18.3 billion yen

Engineered structure
system¥72.0 billion

Bridge¥84.6 billion

Engineering¥95.0 billion

Performance in fiscal 2022, the first year of the Sixth
Medium-Term Plan, was generally on track for achieving
the final year targets. Net sales grew substantially to
164.9 billion yen, breaking free of the flat trend fromfiscal 2017. Operating profit reached 15.2 billion yen forincreased sales and profit. Orders received totaled
156.9 billion yen, on a par with the previous fiscal year.
Civil engineering /Construction and machinery
steel¥18.3 billion

Precision equipment, other¥5.0 billion

Bridge businessNet sales rose to a record high of 87 billion yen, as
construction work for ongoing projects steadily
progressed. Despite sluggish growth in orders for new
bridges and large-scale maintenance projects, strong
orders for new bridge construction, including expansionof highways to four lanes, offset the decrease inmaintenance orders, resulting in an order balance of
81.8 billion yen, achieving the initial fiscal year plan targetof 79 billion yen.

Engineered structure system businessNet sales in FY2022¥164.9 billion
Operating income¥15.2 billion

Yokogawa’s
120th anniversary
Net sales¥187.0 billion

Net sales¥136.9 billion yen

Core businesses

Engineering
Engineered structure system
BridgesEngineered structure
system¥54.5 billion

Fifth Plan

Sixth Plan
2021

Seventh Plan
2024

Net Sales, FY2017–2022(100 million yen)

Yokogawa Bridge Holdings Integrated Report 2023

26% increase

Strengthen further

164.9

Realize management vision
131.0

2027 (FY)033

Engineering¥72.9 billion

Develop new plans for shield tunneling business
Expansion into minimum-cost,
Post-pandemic recovery
multi-story structuresin construction investment
Western extension of the Osaka Bay Road /Four-lane highway conversion projects
Five-year national resilience
Major upgrade projects
acceleration plan; disaster prevention / mitigation

While there was some movement toward revision ofcapital investment plans due to construction cost
increases, net sales rose to a record 54.5 billion yen andorders also hit a new high of 52.6 billion yen thanks to
the impact of price revisions.

Data Section

Civil engineering /Construction and machinery steel

Expand business andmove into new fields

Seawalls, port facility upgrades,
offshore wind turbines

Promote Group-wide DX

Precision Equipment
Engineering

Explore new digitalbusinesses

Bridge¥87.0 billion

Striving to Help Realize a Sustainable Society

P.37-40Corebusinesses Bridge business

Civil engineering /Construction and machinery
steel¥23.0 billion

Review of Fiscal 2022

3 Establish a robust business base for the next 100 years
Develop new materials, construction methods, and other technologies with low environmental impact,
promote wider use of renewable energy, double investment in IT, and accelerate DX measures
Business Strategy

We have set the following earnings targets for fiscal 2024,
the final year of the Sixth Medium-Term Plan: net sales of
187 billion yen, operating profit of 18.3 billion yen, andearnings per share (EPS) of 290 yen. Sales targets bysegment are: 84.6 billion yen for the bridge business; 72
billion yen for the engineered structure system business ofthe engineering business; 23 billion yen for the civilengineering and construction and machinery steelbusinesses, and 7.4 billion yen for the precision equipment
and other businesses. We will strive to expand theperformance of all of our businesses, but in particular, we
will aim to achieve our targets by significantly increasing
growth in the engineered structure system business.

Corporate Value Enhancement Strategy

1 Further reinforce core businesses
Bridge business: Reinforce maintenance services, secure orders for major new projects
Engineered structure system business: Develop various management systems to improve coordination
between orders and production and make additional capital investments to improve productivity

Earnings Targets
YBHD Group Profile

The period of the Sixth Medium-Term Management Plan – Moving to the Next Phase of Growth – for the three-year
period from fiscal 2022 to fiscal 2024 (“Sixth Medium-Term Plan”) is a time to lay the foundation for the realizationof our management vision. Under the plan, we will do more to bolster our bridge business and expand ourengineering business. We will also prepare to create new businesses that anticipate medium- to long-term market
trends in the years ahead and will spend these three years building a highly resilient business base that can flexibly
respond to drastically changing social conditions. The Sixth Medium-Term Plan designates the bridge business andthe engineered structure system business as our two core businesses, and we will reinforce and grow both of them.
We will also make efforts to move into new civil engineering business fields, develop technologies to reduce
environmental impact, promote DX, and further build up our business base.

2017

2018

2019

2020

2021

2022

(FY)

Yokogawa Bridge Holdings Integrated Report 2023

34

Sixth Medium-Term Management Plan

Outlook for Fiscal 2023
In the current fiscal year, the second year of the Sixth
Medium-Term Plan, we forecast increased sales andprofit, with net sales of 175.8 billion yen, orders of 175.7
billion yen, and operating profit of 15.5 billion yen. We
will advance initiatives in each business to achieve our
final year performance targets.
Civil engineering /Construction and machinery
steel¥17.5 billion

Precision equipment, other¥5.8 billion

Bridge¥98.0 billion

Operating income¥15.5 billion

Engineered structure
system¥54.5 billion

Engineering¥72.0 billion

Anticipating progress on abundant ongoing construction
projects, we forecast sales of 98 billion yen. With orders
having remained in the 80 billion yen range for two
consecutive years, we aim to reach the 90 billion yen
range this fiscal year, expecting an expansion inmaintenance orders.

Engineered structure system business
Assuming demand recovery from the second half, net
sales will remain flat, but we aim to increase orders by
10 billion yen year on year to 62.6 billion yen.
In addition to firmly capturing demand for plants andwarehouses driven by bringing supply chains back toJapan and the 2024 issue facing the logistics industry,
we will increase orders by expanding into markets
beyond plants and warehouses, such as stores andoffices.

Under the Sixth Medium-Term Plan, our policy is to“expand shareholder returns while maintaining adividend payout ratio of 30% or higher, continue toincrease dividends, and flexibly buy back treasury
shares, to maintain and improve ROE.” In fiscal 2022,
we increased annual dividends by 10 yen and acquired
1 billion yen in treasury shares. We also aim to raise
dividends in fiscal 2023. ROE has exceeded 10% forfour consecutive fiscal years since fiscal 2019.

We believe we are achieving capital profitability
surpassing shareholders’ cost of equity, but will continue
to analyze and evaluate the current situation to improve
the YBHD Group’s market valuation. Based on proactive
dialogue with investors, we will steadily work on businessbase strategies and business strategy, including
shareholder returns, to build a foundation for sustainablegrowth and achieve increasing performance.

Sixth Medium-Term Management Plan (FY2022-2024)
FY2023 forecast

FY2024 targets

Net sales

164.9 billion yen

175.8 billion yen

187.0 billion yen

Operating income

15.2 billion yen

15.5 billion yen

18.3 billion yen

EPS

273 yen

259 yen

290 yen

ROE

10.1%

Approx. 9%

9% or higher

Payout ratio

31.1%

34.7%

30% or higher

Business Environment and Performance Outlook
In the bridge business, we have an abundant backlog oforders, and we expect orders for large projects like thewestern extension of the Osaka Bay Road in addition tosteady underlying demand such as for major upgrade
projects on highways. Given this, performance is
projected to continue at a high level for the time being.
In the engineered structure system business, the impactof the COVID-19 pandemic is waning, and we are seeinga resumption of projects postponed due to decreased
inbound tourism demand as well as new plant construction
associated with shifts of manufacturing bases fromoverseas to Japan. In addition, results are starting toemerge from recent sales expansion efforts, including
receiving orders for new large-scale store projects, whichshould enable accelerating business growth.
Progress in fiscal 2022, the first year of the Sixth
Medium-Term Plan, got off to a good start, with recordhigh net sales surpassing the initial fiscal year plan at
164.9 billion yen. This represented over 20% growth year
on year, breaking free of the flat trend since fiscal 2017.
By segment, the bridge business in Japan functioned
steadily as an earnings pillar, achieving both net sales
and operating profit targets, while the engineered
structure system business, positioned as a growth
driver, significantly exceeded expectations with recordhigh net sales and operating profit.
Given that fiscal 2022 performance broadly met theplan despite the still challenging external environment,
we are confident about achieving our targets for fiscal
2023, when further improvement can be expected. We
aim to sustain this growth trend and achieve the final
fiscal-year targets of 187 billion yen in net sales and 18.3
billion yen in operating profit.

Investment Strategy and Profit
Distribution
Regarding cash flow over the three years of the Sixth
Medium-Term Plan, we forecast 31 billion yen in operating

cash flow as cash inflow, against which we anticipate cash
outflows of 18 billion yen in capital investment and around13 billion yen returned to shareholders. Of the 18 billion
yen in capital investment, 7 billion yen, the largest portion,is IT/DX-related. This includes upgrading the Group-wide
core information system, rebuilding the production
management system for the engineered structure systembusiness, and other investments towards digitization.
Improving productivity through DX is an urgent task toaddress the approaching 2024 issue. Also, recognizingthat the greatest risk for the YBHD Group is theoccurrence of a serious accident, we will promote theintroduction of DX measures to improve worksite safety.
Concurrently, as training digital-savvy human resources
is essential to realize DX, about 100 members selectedfrom each division are currently undertaking specialized
study as part of their duties this fiscal year.
For capital efficiency, we use return on equity (ROE) as
an indicator, with the Sixth Medium-Term Plan establishinga minimum target of 9% ROE, which exceeds ourestimated cost of shareholders’ equity of around 7.3%.
However, we aim to maintain the actual ROE at around
10% by improving performance and enhancing shareholder
returns. In terms of shareholder returns, we have set a
dividend payout ratio of 30% or more, maintain continuous
dividend increases, and buy back a certain amount oftreasury shares, but from fiscal 2023, we changed ourbasic dividend policy from “stable dividends” to “progressive
dividends.” For the past 16 years, Yokogawa Bridge
Holdings has never reduced annual dividends, and has
increased them 13 times. We will continue this track record
with the introduction of progressive dividends.
In closing, as a builder of bridges that must last for 100
years, we recognize that while aiming for sustainablegrowth it is also important to earn high regard in thecapital market. Accordingly, we will continue our efforts
to communicate the state of the YBHD Group in aneasy-to-understand manner.

Data Section

FY2022 resultsof Finance & IR Office and Accounting Department

Striving to Help Realize a Sustainable Society

Capital Policy and Shareholder Returns

Hidenori Miyamoto, Director & Managing Executive Officer, in charge

Corporate Value Enhancement Strategy

Net sales in FY2023¥175.8 billion

Bridge business

YBHD Group Profile

Smooth start for the Sixth Medium-Term Plan
Strengthening business base through proactive
investment in digital technology and human resource
development
ROE maintained around 10%, and progressive
dividend policy is introduced*Cost of equity assumption is roughly 7.3%.

35

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

36

Business Strategy

Bridge BusinessBusiness overview

Yokogawa Bridge Holdings Integrated Report 2023

mitigation, demand for repairing and upgrading suchaging bridges is expected to remain steady in themedium to long term. Leveraging the YBHD Group’s
strengths in design and construction, we will take onchallenging projects such as repair and reinforcement ofspecial bridges like arch and truss bridges and largescale upgrading and repair including deck replacement.
In our overseas business, strong investment appetite fortransportation infrastructure in the rapidly growing economy
of Southeast Asia is driving the YBHD Group’s preparations
to bid on large-scale ODA projects and establish new
overseas bases in countries like the Philippines andBangladesh. While vigilantly planning for various country risks
stemming from local political and economic conditions, wewill proactively take on challenges, aiming to contribute to theeconomic development of these countries and regions.
In the bridge peripheral business, amid rising needs forinfrastructure maintenance and extended life spans, “cusa”
aluminum alloy permanent scaffolding is seeing increased
adoption, mainly on intra-city highways. Going forward, we
will continue providing new added value tailored to customer
needs, such as a sound absorption feature and landscape
improvement, to reduce the burden on administrators andcontribute to extended infrastructure life spans.

New bridge construction business
Review of fiscal 2022
The volume of new bridge construction orders in Japan
totaled around 160,000 tons, down about 20,000 tons
year on year due to delays and postponements, marking asluggish year. However, with steady orders from a wide
range of clients, including six regional development bureausof the Ministry of Land, Infrastructure, Transport andTourism, highway companies in eastern and westernJapan, local governments, and railway companies, the
YBHD Group’s order volume was favorable. Major contracts
include the Shin-Tonegawa Bridge West construction on
the Ken-O Expressway (East Nippon Expressway) and the
Nagaidani Junction Overpass construction on the Daini

Shinmei Road (West Nippon Expressway).
Completed projects earning accolades include theShinmachi River Bridge Superstructure construction
ordered by the Shikoku Regional Development Bureau,
which received the bureau chief’s award, and projects for
the Kanto Regional Development Bureau, Okinawa General
Bureau, and West Nippon Expressway Co., Ltd. thatreceived excellent construction awards. The YBHD Group’s
safety management and quality improvement efforts arereflected in construction performance assessment scores,
resulting in high praise and trust from clients.

Fiscal 2023 business policy
With no anticipation of major increases, new bridge
construction order volume in Japan is projected to remain
flat. However, orders are expected soon for major new
construction projects like the Osaka Bay Road West
Extension, Shin-Omiya Ageo Road (extension of the Omiya
Route of the Metropolitan Expressway), and the TamaRiver Bridge in Tokyo. We will move ahead with preparations
to participate in these projects. We will continue requestingand encouraging clients to adopt ordering methods where
our technical strengths differentiate us from competitors,
such as those with detailed design and construction plans.
Furthermore, given the rise in joint ventures transcending
industry boundaries against the backdrop of diversifying
ordering methods like ECI, we have an active policy ofalliance building with other industries, particularly withmajor and semi-major construction and PC companies,
without being constrained by the conventional frameworkof the traditional steel bridge industry.
Regarding technology development, expectations for DX
keep growing to solve various issues in the bridge businesssuch as ensuring safety and quality, passing on expertise,reforming work practices, and improving productivity. The
YBHD Group links advanced technologies, including BIM/
CIM using 3D steel bridge data, XR, AI, and robotics, tomaximize digital technology use throughout every production
process, leading to streamlining and labor-saving versus
conventional methods. As a general engineering company
undertaking everything from steel bridge design, fabrication,and erection to maintenance, we will keep leveraging ourstrengths to further promote DX going forward.

Data Section37⃝ Increase in demand for bridge maintenance⃝ Progress on the Osaka Bay Road Western Extension
project⃝ Expansion of BIM/CIM application⃝ Ongoing railway continuous grade-separation projects⃝ Demand for transportation infrastructure in emerging
countries⃝ Increasing needs for maintenance and extended life spans

The Sixth Medium-Term Management Plan aims to achieve higher productivity and profitability comparedto the previous plan. We got off to a good start, with record-high net sales in the first year. Going forward,
we will continue striving tirelessly for further improvement without relaxing our efforts.
We have also positioned the period of this medium-term plan as one for preparing various measuresin anticipation of market environment changes expected over the long term. Leveraging the wisdom
gained from overcoming adversity many times in the past, we will flexibly address diversifying societal
needs and evolve our business.

Striving to Help Realize a Sustainable SocietyOver the medium to long term, the new bridge
construction market is on a declining trend, but with theaging of social infrastructure, demand is expected toremain strong for maintenance and upgrading projects.
Industry-wide, the shift from new construction tomaintenance is projected to accelerate further.
Orders in Japan for new bridges in fiscal 2022 totaled
around 160,000 tons, recovering from around 130,000 tons
in fiscal 2019 but remaining sluggish at less than 20% of
peak levels. However, the YBHD Group has steadily
maintained and expanded its market share, retaining the No.
1 position in Japan for bridge orders, by refining its technicalprowess and strengthening its order-receiving andproduction systems. In 2024, the new bridge market is
expected to temporarily recover as large projects getunderway, including the Osaka Bay Road Western Extension.
In the maintenance business, orders are increasing
substantially for major upgrades and earthquakeproofing projects, spurring rapid market growth. Around
50% of bridges in Japan will be at least 50 years old in
2029. Backed by central government initiatives toenhance national resilience and disaster prevention/⃝ Possession of a full range of construction equipment⃝ Specialized department for BIM/CIM⃝ Integrated management system from material
procurement to design, production, and on-site
construction⃝ Proposal sales capabilities that take advantage ofsynergies across the Group⃝ Industry’s largest R&D facility (Technical ResearchLaboratory)

Akihito Yoshida, President and Representative Director, Executive Officer, Yokogawa Bridge

Corporate Value Enhancement Strategy

Risks⃝ Decrease in demand for new bridges⃝ Safety risks such as disasters andaccidents⃝ Quality defects⃝ Shortage of field engineers⃝ Foreign exchange risk, country risk
⃝ 2024 problem facing the constructionindustry

Opportunities

Strengths⃝ Workforce consisting of a large number of qualified
personnel⃝ Advanced technical capabilities accumulated overmany years⃝ Corporate culture of taking on challenges⃝ Active use of state-of-the-art technology⃝ Ability to respond to customer needs⃝ State-of-the-art production plant (Osaka Plant) withannual production capacity of 60,000 tons

Towards achieving the Sixth Medium-Term Management Plan (2022–2024)
YBHD Group Profile

As the top player in steel bridges in Japan, the YBHD Group has focused sincerely on refining its technical capabilities
and strengthening its order-receipt and production systems for over 100 years, contributing to society by deliveringhigh-quality products and safe construction. Our bridge business consists of four businesses: the new bridge
construction business, the maintenance business, the overseas business, and the bridge peripheral business.

Examining a 3D structure using VR and an avatar conference system

Yokogawa Bridge Holdings Integrated Report 2023

38

Business Strategy

Bridge Business

Review of fiscal 2022

Review of fiscal 2022

Review of fiscal 2022

In fiscal 2022, as the COVID-19 pandemic subsided,
multiple overseas projects made substantial progress
and were completed. In Tanzania, the Gerezani Bridge,
Africa’s first composite deck bridge, was completed.
Also, in Bangladesh, the Modhumoti Bridge (project
name: Kalna Bridge), one of the largest Nielsen-Lohse
bridges in South Asia, was completed. Both bridges
eliminate bottlenecks on important routes, and are
expected to make significant contributions tointernational logistics going forward.

Permanent scaffolding that makes bridge inspections andmaintenance easier has gained attention, and installation
is progressing, driven mainly by highway companies. The
YBHD Group sells the “cusa” aluminum alloy permanent
scaffolding, the adoption of which is increasing. On the
Metropolitan Expressway, long-span installation projects
have advanced on the Kanagawa Route No. 2 Mitsuzawa
Line and the No. 10 Daiba Route. Adoption has also
progressed on expressways including NEXCO and the
Kitakyushu Expressway in Fukuoka.

Fiscal 2023 business policy

Fiscal 2023 business policy

In fiscal 2023, while advancing ongoing projects in ouroverseas business, for new projects we are focusing on
ODA construction in fast-growing regions fromSoutheast Asia to the African continent. In particular, we
will actively pursue orders in Bangladesh and thePhilippines, where large bridge projects are expected,
and are even considering establishing local bases. We
will also examine our approach for the medium to longterm regarding the potential for expanding ourmaintenance business overseas in response to expected
higher future demand.

Bridge permanent scaffolding can help reduce roadmanagement costs, and the market has grown over the
past few years. We will improve product quality anddevelop attractive features and options to aim for
expanded orders. We will also promote sales of thereverse-side sound absorption panel, developed as an
option in fiscal 2022. In fiscal 2023, we will continue
developing the landscape-improving side members that
we started working on last fiscal year and aim for productcommercialization. We will also focus efforts on
promotional activities to further expand the market.

In the maintenance business, we carried out deck
replacement, earthquake-proofing, and bridge repair
work. As the bridge maintenance market has become
more active, driven by large-scale upgrading projects,
the entrance of other manufacturers and construction
companies has made the market environment
challenging. Even under these conditions, we won major
contracts including deck replacement on the Takigawa
Bridge on the Tohoku Expressway (East Nippon
Expressway) and earthquake-proofing of the Nakatani

Bridge (outbound line) and one other bridge (WestNippon Expressway).
For completed projects, we received a branchmanager award from West Nippon Expressway Co.,
Ltd. for two projects and an excellent construction
award from Metropolitan Expressway Co., Ltd., earninghigh esteem from clients for our serious commitment toquality and safety management in challenging
maintenance work.

Fiscal 2023 business policy
The bridge maintenance market is growing rapidly, withthe contracting of major upgrading and earthquakeproofing projects now in full swing. This fiscal year, we
will again focus mainly on deck replacement, earthquakeproofing, and bridge repair. For upgrading projects (deckreplacement) in particular, additional upgrading plans
have been announced by highway companies. The
YBHD Group will further reinforce internal systems toparticipate even more actively in these projects going
forward.
To maximize results with limited resources, we will
optimize the balance between new construction andmaintenance, carefully selecting large-scale upgrading
and repair projects to bid on based on project details
and aggressively seeking to win orders. We will also
continue undertaking demanding earthquake-proofing
and repair of special bridges, where we can leverage the
YBHD Group’s technical strengths.
To improve our competitiveness in the maintenancebusiness, we will also proactively engage in related R&D.
We are continuing development of a precast wallbalustrade (product name: Rapid Guard Fence) toimprove construction efficiency and enable rapid
construction in large-scale upgrading of existing RC
decks. While the standard sections and vertical joints
had already passed precast product standard tests,
since demand had also increased for precast end
sections, which are generally cast-in-place, we improved
the structure for precasting and passed collisionperformance testing simulating vehicle impact. This willfurther enhance the product’s specifications. With
adoption of the Rapid Guard Fence already decided forsome projects, we will continue development with aview to wider application. We also partner withcompanies in other industries, including PC
manufacturers, construction companies, and steel
makers, to jointly advance R&D in technologies such as
those needed in deck replacement.

Conceptual image of “cusa”
with sound-absorbing feature

Striving to Help Realize a Sustainable Society

Bridge peripheral businessCorporate Value Enhancement Strategy

Overseas business

YBHD Group Profile

Maintenance business

Completed the Gerezani Bridge (Tanzania)

Data Section

Large-scale upgrading between the Chugoku-Ikeda and Takarazuka interchanges

39

Yokogawa Bridge Holdings Integrated Report 2023

Removal work on the arch rib of the Tenno Bridge (Ishinomaki City, Miyagi Prefecture)“cusa” on the Higashi
Ogishima Bridge(Metropolitan
Expressway)

Yokogawa Bridge Holdings Integrated Report 2023

40

Business Strategy

Engineering Business⃝ Advanced technical capabilities accumulated overmany years⃝ Corporate culture of taking on challenges Active useof state-of-the-art technology⃝ Collaboration with more than 1,300 affiliated “yess”
builders nationwide⃝ Plant dedicated to engineered structures with annual
production capacity of 90,000 tons

⃝ Market expansion of sports business⃝ Underground use in metropolitan areas⃝ Growing need for port facility upgrades⃝ Growing need for technologies related to carbon neutrality⃝ Growing need for disaster prevention facilities and flood control
techniques due to the intensification of natural disasters

Business overview

Kazuya Kuwahara, Representative Director, President and Executive Officer, Yokogawa System Buildings Corp.
We have been promoting DX reforms since fiscal 2020. The ICT infrastructure within the company will be completed
by the end of fiscal 2023, and we will embark on the first year of full-fledged DX activities in fiscal 2024. Effects are
already emerging, further enhancing the strengths of our products: speed, cost competitiveness, high quality.
We have also made progress in developing products for stores and offices, which had been an area of
weakness. In fiscal 2024, we will have a system in place to support rapid growth. Together with sales
reforms we are implementing in parallel, this will establish a robust management foundation.

Review of fiscal 2022

Earnings-wise, the engineered structure systembusiness saw improved profitability, as production ofprojects that reflected surging steel prices progressed,
and production recovered in the civil engineeringbusiness. As a result, net sales for the full-year entire
business reached 72.9 billion yen and operating profit
totaled 6.8 billion yen, significantly updating the previous
record highs for both. In the engineered structure systembusiness, we will work to expand orders to achieve thefinal fiscal year targets under the Sixth Medium-Term
Plan by capturing demand for factories and warehouses
due to the reshoring of supply chains and the 2024
problem in the logistics industry, while also strengthening
efforts targeting stores and offices.

In fiscal 2022, the Japanese economy saw a stark
divergence from initial expectations, as the rapid spreadof the Omicron variant of COVID-19 along with global
inflation and economic slowdown resulting from Russia’s
invasion of Ukraine were compounded domestically by
sharp depreciation of the yen driving price hikes. Despite
this environment, steady private-sector capital
investment provided underlying support for the economy.
In the construction industry, while large-cap and midcap companies vigorously pursued capital investments,
investment was sluggish among small to medium-sizedenterprises that are the core of the market. As a result,the number of construction starts for “non-residential
steel-frame buildings,”* a market size indicator, wasaround 8% lower than the previous fiscal year.
Given this market environment, we changed our sales

policy. From the second half, we reflected surging
material costs in pricing and took into account cost
predictions based on the accurate cost awareness wehad built up in each department. Together with proactive
cost-reduction measures such as revising workflows
and improving business software, this allowed us tosecure appropriate profits in contracts. Consequently,
while orders for the period were down 15% year on year
in terms of area at 860,000 m2, order amount reached arecord high of 52.5 billion yen, up 4.2 billion yen.
Earnings also achieved record highs, with completed
construction revenue reaching 54.5 billion yen (up 15.7
billion yen), as we absorbed increased costs fromsurging prices of steel and other materials, resulting inincreased operating profit.
* Ministry of Land, Infrastructure, Transport and Tourism, “Fiscal 2022 Statistics
on Building Construction Started”

Mitsuya Plant (4th Plant), Atsumi Kogyosho

65,042(Million yen)

71,382

72,93357,197
48,32154,431
6,785

61,73452,673
4,537

2020

2021

Orders received

41

Yokogawa Bridge Holdings Integrated Report 2023

2022

Order backlog

(FY)

3,718

2020

2021

Net sales

2022

Operating income(FY)

Atsumi Kogyosho, based in Toyohashi City, Aichi Prefecture, is the only company nationwide specializing in
manufacturing inspection walkways for bridges and highways. For the major project of relocating its head officeand building a new head office plant on the occasion of its 50th anniversary, the company adopted ourengineered structure system product “yess” building for the head office plant.
The large plant, 36 meters wide by 135 meters long, totaling 4,860m2 in area,
is impressively suited to demonstrate one of the features of “yess” buildings,
large open spaces, with eight ceiling cranes traversing the 135-meter space(see P.16). It is my understanding that Atsumi Kogyosho’s deep ties with
Yokogawa Bridge and tremendous trust in the YBHD Group’s technology andhistory were also factors in choosing the “yess” building. We will continue towork together as a Group to vigorously pursue more orders.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

63,285Junpei Ito, Nagoya Sales Office, Osaka Sales Department, Sales Division, Yokogawa System Buildings

Net sales / Operating income

Orders received / Order backlog(Million yen)

Striving to Help Realize a Sustainable Society

While domestic demand in the construction market is on
a recovery trend with the improvement in corporate
earnings providing underlying support, the situation
remains uncertain due to global financial tightening andprice hikes.
In our main business, the engineered structure systembusiness, there were some moves to postpone or revise
plans due mainly to rising construction costs, but wewere nevertheless able to set a record high for orderamount thanks to the impact of price revisions.
Full-year orders received for the engineering businessas a whole also reached a record high of 71.4 billion yen.

Aiming for an engineered structure system business that is resilient tochanges in the business environment

Corporate Value Enhancement Strategy

Risks⃝ Safety risks such as accidents⃝ Building market trends⃝ Shortage of field engineers⃝ Political and economic situation
at overseas bases⃝ Increasing construction costs

Opportunities

Strengths⃝ Workforce consisting of a large number of qualified
personnel⃝ Active use of state-of-the-art technology⃝ Ability to respond to customer needs⃝ High productivity through use of robots⃝ Development and design capabilities in new fields,such as offshore wind turbines and port facility
upgradesEngineered structure system
YBHD Group Profile

Applying the technologies cultivated in our bridge business, the YBHD Group engages in three engineeringbusinesses: the engineered structure system business, the civil engineering business, and the construction andmachinery steel business. The engineered structure system business has established itself as the No. 1 in theindustry through production at a dedicated plant and by realizing short construction periods.

42

Business Strategy

Engineering Business

Fiscal 2023 business policy

Working to expand existing businesses and create diverse businesses
Kiyotsugu Takagi, Representative Director, President and Executive Officer, Yokogawa NS Engineering
We are working to expand the civil engineering business, which is a core business alongside the bridge business,in order to realize “multifaceted steel structure engineering,” part of the YBHD Group’s management vision, andto “create and develop diverse businesses,” an aspect of the basic policy under our Sixth Medium-Term Plan.
For tunnel segments, following the Tokyo Outer Ring Road and Hokkaido Shinkansen, we aim toreceive orders for and produce segments for new rail lines planned in major cities. Also, at our production
site, the Kashima Plant, we will invest in tunnel segment production equipment to improve productivity inlarge-diameter tunnel segments in Japan.
Regarding civil engineering steel structures, we are harnessing the collective strength of the YBHDGroup to ensure the successful completion of ongoing tsunami countermeasure projects for electric
power companies. We are also pushing forward joint development with other companies, aiming tocommercialize offshore wind turbines in the future in a bid to create diverse businesses.

Review of fiscal 2022

Advertising coordinated with the campaign site is deployed on news sites, social
media, magazines, billboards, etc.

The civil engineering business is focused on expanding
the scale of the tunnel segment business and securing
stable earnings through the production and constructionof seawalls for electric power companies’ tsunami
countermeasure projects. We are also working on offshore
wind turbines and port facility upgrades, fields with good

growth prospects, aiming to rapidly launch businesses.
In fiscal 2022, we carried out tunnel segment production
systematically, focusing primarily on the Tokyo Outer Ring
Road and railway segments for the Hokkaido Shinkansen.
Production at the plant for the tsunami countermeasureproject is progressing smoothly.

Fiscal 2023 business policy
For tunnel segments, while focusing on production for the
Tokyo Outer Ring Road, we will also engage in sales
activities targeting orders for new rail lines in urban areas. Inline with the Sixth Medium-Term Plan, we will move ahead
with upgrading tunnel segment production equipment at
our Kashima Plant to improve productivity, and will advancedevelopment aimed at expanding business scale.
On-site construction for the tsunami countermeasureproject is scheduled to start this fiscal year. Production atplants across the YBHD Group is underway and progressing
smoothly to ensure completion. We will also make efforts to
win orders for ongoing harbor structure projects. Regarding
offshore wind turbines, an area in which we aim to rapidly
launch business, we will continue examinations in fiscal
2023, working together with construction companies
toward participating in the business.

Striving to Help Realize a Sustainable Society

Further improvement to establish systems forcontinuous growthWith steel prices stabilizing, securing appropriate profits
while enhancing competitiveness will require continuous

Civil engineering businessCorporate Value Enhancement Strategy

Initiatives to increase orders
We started collaborating with specialized agencies onadvertising campaigns two years ago and will step up
this effort while confirming its effectiveness. At the sametime, we need to broaden awareness of the range ofapplications for our products. We will seek to increaseinquiries from customers by aggressively advertising
new products we are focusing on, such as two-story
buildings as well as stores and offices.
On top of increasing the number of inquiries, we need to
improve the rate of securing contracts. Since fiscal 2022,
sales and design have been conducting integrated sales
activities based on an SFA (sales force automation) system.
We will promptly and accurately identify customer needs andcarry out proposal-based sales that leverage the features ofour products and product development capabilities.

efforts to reduce costs by improving operational
efficiency within the company. We will revise workflows
and promote the establishment of core systems utilizing
ICT aligned with the new flows to further enhance thestrengths of our products: speed and costcompetitiveness. In fiscal 2023, we aim to complete
new production management systems. Through active
utilization of such DX, we will continue working to enablesimple workflow execution and more efficient
coordination between departments.
As described above, fiscal 2023 is an important year
as the final stage of laying the groundwork for the
coming fiscal year, which marks the final year of the
Sixth Medium-Term Plan. The entire company will unite
efforts to achieve each target one step at a time.

YBHD Group Profile

There are signs of market recovery, including economic
bounce-back after COVID, reshoring of supply chains,and demand for logistics bases due to the 2024 problem
in the transportation industry. Given this situation, in
fiscal 2023 we will focus on the initiatives below.

Data Section

Tama Sales Office, Seikitokyu Kogyo Co., Ltd. (Tokyo)

43

Yokogawa Bridge Holdings Integrated Report 2023

Tunnel segments

Yokogawa Bridge Holdings Integrated Report 2023

44

Business Strategy

Engineering Business

Construction and machinery steel business

Review of fiscal 2022

In fiscal 2022, performance exceeded initial forecasts
thanks to progress on large-scale redevelopment
projects in the Tokyo metropolitan area and constructionof gymnasiums and stadiums.
Large-space structures like high-rise buildings,
gymnasiums, and stadiums are areas in which the YBHDGroup excels. We have also earned high praise and trustfrom clients in earthquake-proofing and railway-related
construction projects.
The Kudan Kaikan reconstruction project involved
seismically isolating the existing building and revitalizing
it by integrating it with a new high-rise building. For thisproject, we contributed with our expertise in seismic
isolation retrofitting and steel frame construction for
high-rise buildings.
At Konki Athletic Stadium, we participated in theerection of a steel frame roof. By assembling the roof’s
25-meter-high steel frame on the ground, we were able tocomplete construction without using temporary supports,
earning high praise from the client for safety and quality.
In railway-related construction, we have participated inrenovation work at many train stations, including
Ochanomizu, Shibuya, Shinagawa, and Nakano stations.
Work must be completed within the limited nighttime hours,
so by thoroughly reviewing construction plans in advance,
we were able to earn an exceptional level of trust from clients.

While no large project orders were received this period
due to delays and reviews of large projects, the numberof orders increased from the previous fiscal year thanks
to acquired design changes for a large overseas project.
However, earnings made little progress due to atemporary decline in profitability.

Yokogawa Bridge Holdings Integrated Report 2023

With an 88-year history since it was founded in Hokkaido, Narasaki Seisakusyo has one of the largest
plants in Hokkaido, specializing in manufacturing large steel structures. Our location adjacent to MuroranPort, a good natural harbor, provides ideal access for marine transport. We also possess proprietary steel
pipe manufacturing technology and machinery manufacturing technologies encompassing electricalcontrol design. With the progress on offshore wind farms and many other development projects in
Hokkaido, I am confident that our technologies will find application.
In addition, we plan to establish a new sales base in Tokyo. This will strengthen our sales to major construction
companies headquartered in the metropolitan area and enable us to pursue further order expansion.

While the harsh order environment looks set to continue,
with delays and reviews of large projects, we will aim to
expand orders by stepping up information disseminationand sales activities targeting private-sector sponsors,
teams, and other investing companies as well as
management/planning organizations.
As aging facilities require more large-scale repairs forextending life spans, the maintenance and repair market
is expected to expand. By accurately proposing andcarrying out repairs tailored to the different environments
and deterioration conditions of each facility, we willcontribute to enabling long-term continued use.
For the large overseas project currently underway,
installation of the drive system is entering the final stage
toward completion in autumn 2024. Despite thechallenging overseas work, we are advancing
construction safely with a view to quality.

Review of fiscal 2022
In fiscal 2022, we relocated the sales base for themachinery steel department to Sapporo and boosted
staff to aim for further order expansion. As a result, we
increased orders to about 1.5 times the annual volume.
In addition to orders for conventional products such aspenstocks and water treatment systems, we received
an order from the Hokkaido Bureau of Public Enterprises
for the first time in nine years for the Horobetsu Dam

Earthquake-proofing Project, involving dam floodgate
work. We also won three orders for our original shiplifting equipment, including the new lift-type lifting
equipment we have been developing since 2021.
Furthermore, we commenced sales of biomass plants,
which are attracting attention in dairy farming-intensive
Hokkaido, and stainless-steel flap gate tidal barriers to
help improve national resilience, as new products.

Fiscal 2023 business policy
Major projects are underway in Hokkaido in fiscal 2023,
including redevelopment around Sapporo Station,
construction of a new semiconductor plant, and offshore
wind turbine-related projects. In addition to existingsales activities, we will focus efforts on participating inthese projects by enhancing coordination with generalcontractors and consultant companies. Particularly foroffshore wind farms, a major construction company has
decided to use Muroran Port as the home port for its

self-elevating platform (SEP) ship. Furthermore, plans for
specific projects are emerging, including for
manufacturing bases for floating structures. We
established an offshore wind farm project office last
fiscal year to ensure that we capitalize on thesedevelopments. Along with the increase in production
volume, we will resume operations at the temporarilyclosed Shukutsu Plant (approx. 30,000 m2) and aredeveloping new partner companies.

Data Section

45

Hirohito Kaji, Representative Director, President and Executive Officer, Narasaki Seisakusyo

Fiscal 2023 business policy

Fiscal 2023 business policy
While construction market activity may settle downslightly in the second half of fiscal 2023, numerous large
projects including high-rise buildings and stadiums areplanned from fiscal 2024 onward, so we need to startearly on construction planning and review operations.
By making high-quality construction proposals, we will
aim to gain client trust and win orders for these projects.
With the construction market expected to remain
active for years to come and abundant large projects inthe pipeline, we see this as an opportunity to expand ourconstruction capacity. We will carefully tackle eachconstruction project, enhance our capabilities beyond
current levels, and work to expand the business.
Business expansion will require not only increasing
personnel and partner companies but also boosting
employees’ skills. Building on the skills enhancement training
introduced last fiscal year, we intend to further improve skills.

Leveraging our location and machinery manufacturing technologies tofurther expand orders

Striving to Help Realize a Sustainable Society

Review of fiscal 2022

Machinery steel businessCorporate Value Enhancement Strategy

Special structures business

YBHD Group Profile

Construction business(Left) Dam floodgate
Ochanomizu Station(Right) Ship-lifting
equipment

Yokogawa Bridge Holdings Integrated Report 2023

46

Business Strategy

Precision Equipment BusinessIn the precision equipment manufacturing business, we design and manufacture high-precision, large-scale, high-damping
welded structural body frameworks. In the information processing business, we provide a wide range of systems andservices associated with steel bridge design, including preliminary design, detailed design, and reconstruction design.

Promoting DX for the YBHD Group and growing the information processing businessAkira Kobayashi, Representative Director, President and Executive Officer, Yokogawa Techno-Information Service Inc.

Review of fiscal 2022
orders and production remained firm for framework
products for semiconductor manufacturing equipment.
We also received orders for and produced framework
products we had been working on previously for new
equipment development platforms, with mass
production expected soon. Additionally, we advanced
technological development to further improve ourproprietary high-damping structure frameworks andstrengthened our mass production system by enhancing
manufacturing efficiency and reducing labor.

Fiscal 2023 business policy

Yokogawa Techno-Information Service was established in 1984 when the R&D division for information
systems was spun off as an independent company to commercialize, as a service for the industry, theintegrated steel bridge design and production system Yokogawa Bridge Works had been developing
since the 1970s.
With these origins, our company fulfills two roles: promoting the information processing business andserving as the information systems department for the YBHD Group.
Guided by the information strategy of the Sixth Medium-Term Management Plan, the YBHD Group isundertaking diverse DX projects. We intend to successfully guide these projects and leverage the results
to grow the information processing business.

Review of fiscal 2022

In fiscal 2023, with the LCD and OLED panel manufacturing
equipment market expected to gradually recover from thesecond half, we will secure steady order receipts andproduction of existing products. We are also advancing
development design and prototypes for several new
framework products to improve equipment performance,

aiming for new orders and mass production. Further, in
addition to past initiatives, we will expand our mass
production system to flexibly meet customers’ diverse
product requirements and fluctuations in demand,
working to achieve continued business growth.

While the YBHD Group has been utilizing IT andpromoting DX mainly in production departments, DX
initiatives encompassing various departments including
administrative departments have become much more
active, mirroring how new IT is enabling DX in the civilengineering and construction industries.

In fiscal 2022, we advanced joint development ofsystems with Group companies, building on initiatives
started in previous years, aiming at practical application
centering on BIM/CIM features utilizing 3D models andVR technologies as well as quality/construction
management features leveraging AR and AI.

Ultra-precision coordinate measuring machine

Small precision 5-axis machining center

Automatic blasting machine

In fiscal 2023, we will continue past efforts to generateconcrete results, while also focusing on DX for safety
management. As safety management is a universal
issue for the entire industry, we intend to examine anddevelop specific measures jointly with Group companies
not only to increase corporate competitiveness, but also
to contribute to the industry and maintain/expand

business by commercializing the results as products.
Meanwhile, for our steel bridge design/production
system that is widely used in the steel bridge industry
and our structural analysis that is in increasing demand
due to the increase in maintenance work, we willcontinue to expand features and improve services tomeet customer needs.

<Steel bridge construction simulator>
Simulations considering crane capabilities assist in selecting which cranes touse, positioning, ground assembly point decisions, etc.

<Column-beam assembly inspection system>
Uses AR (augmented reality) to overlay 3D models on actual members, aiding
inspection tasks like confirming attachment positions for small parts.

Striving to Help Realize a Sustainable Society

Fiscal 2023 business policy

Corporate Value Enhancement Strategy

Leveraging our strengths in steel framework design,technological development, high-precision processing, andhigh-quality assurance systems, the precision equipment
manufacturing business has continued to steadily secureorders for existing products while also actively engaging inequipment development design and focusing on securing
orders for next-generation equipment framework products.
In fiscal 2022, amid growing uncertainty about the
global economy, there was a decline in the LCD and
OLED panel manufacturing equipment market. However,

YBHD Group Profile

Precision equipment manufacturing businessInformation processing businessYokogawa’s products contribute to the precision equipment industry!
Tsugumasa Takashima, Technology Department, Advanced Engineering Division, Yokogawa Bridge Corp.

of high-damping structure framework(wafer microscope image)47

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

My department handles sales, design, and technology development. We promote our products andtechnologies at exhibitions while carefully listening to customer requests to propose optimal framework
solutions. Our proprietary high-damping structure frameworks, which provide excellent vibration damping, areattracting many inquiries and much interest from customers
who expect them to help improve the performance of LCD/
OLED panel and semiconductor manufacturing equipment,
which require miniaturization and higher speeds. Going forward,
we will continue to provide high value-added products leveraging(Normal(High-damping
our unmatched design and technology development capabilities,
framework)
framework)
thereby contributing to the precision equipment field.
Product promotion through an exhibition Example of vibration damping effectYokogawa Bridge Holdings Integrated Report 2023

48

Business Base Strategies

DX Strategy

Realize our DX Vision

DX Vision

Upgrade core IT systems
Promote user-led DX at Group companies

Review of fiscal 2022

AssetsBuild IT infrastructure

PeopleInformation

Cultivate DX specialists

Acquire knowledge and tech

Establish user rules for IT services
Implement IT security measures

DX Promotion OfficeInformation
Planning OfficeEntering identified issues during a patrol into a tablet

Checking drawings on a tablet

Yokogawa TechnoInformation Service
Utilize know-how as the Group’s
information processing company
to support Groupwide DX⃝ With the aim of “standardizing business processing andmanagement,” “streamlining, digitizing, and visualizing
information,” and “passing on the knowledge and skillsof predecessors,” we started upgrading core IT systems
to “build a foundation for resilient business operations.”⃝ We began trials for introducing electronic services forordering, invoicing, and other order-related tasks.
⃝ We decided to introduce an integrated BI platform
and started trials aimed at realizing data-driven
management.

Case Study 2 Utilizing the video software “tebiki” to pass on skills and standardize work
The software enables easy creation of operation standard videos
by automatically generating captions using speech recognitionand editing videos from smartphone-recorded operation videos.
Visual verification by watching the videos on a smartphone ortablet makes work more efficient compared to conventional paperbased operation standards.
Adoption is increasing in each department, with over 300 video
manuals completed so far. In addition to using them in new employee
training, we intend to use the videos for standardizing operations
externally with partner companies in the future, as well as across the
YBHD Group, and for passing on the skills, techniques, and knowhow of veteran employees, which is a common Group-wide challenge.

Striving to Help Realize a Sustainable Society⃝ To develop “DX specialists,” we conducted DX
assessments (to visualize skills and knowledge) andIT literacy education via e-learning for around 1,000
back office department employees.
⃝ We worked on reducing labor and improving
productivity at worksites by applying new technologies
such as simulations of full-scale implementation ofdeck bar arrangement inspection using digital data.
⃝ We started consideration of the use of AI, robots, andother technologies to improve safety.

Money
Expand IT-related investment

The Osaka Plant of Yokogawa Bridge issues electronic manufacturing documents, and fills out inspection sheets and management
sheets electronically using tablets. Documents created in Excel can be directly migrated to electronic documents, enabling a shift topaperless systems of safety andmachinery inspection records. Photos
can be attached to inspection sheets
and inspection records can beemailed, eliminating the hassle ofrecreating documents at the office.
Tablets enable viewing, sharing, andwriting of documents, allowing
immediate confirmation of necessary
information anywhere, leading to
improved productivity and quality.

Example of a video manual

Efforts in fiscal 2023

49

Yokogawa Bridge Holdings Integrated Report 2023

trials and commence full-scale introduction in somedepartments of electronic services for ordering andinvoicing operations.
⃝ To roll out the integrated BI platform across the YBHDGroup, we will examine utilization scenarios andconfirm and evaluate the effects of introduction.
DX Certification acquired
In August 2023, wewere certified by the
Ministry of Economy,
Trade and Industry
as a “DX Certified Company.”
We will continue setting up base for DX promotion in eachdepartment to support achievement of work-style reforms
and improved productivity.

Case Study 3 DX specialist development: Implementation of specialized education
Our specialized DX specialist development training started in May
2023. Upon its commencement, President Takata sent thefollowing message to participants:“While DX is extremely broad, I want us all to consider ‘What DX
means for the Yokogawa Bridge Holdings Group’ and promote it
accordingly. For the entire company to move forward using DX,
raising the overall level is necessary, not just a small number of
specialized personnel taking action. Company commitment,cooperation between departments, and your understanding are allindispensable to realize this. I ask you 104 members taking thisspecialized DX course to reflect what you learn in your departments,
spur changes in workplace atmosphere, and seek cooperation for
DX. I expect that this will drive the YBHD Group’s DX adoption.”

Data Section⃝ For the approximately 100 personnel identified in thefiscal 2022 DX assessment as possessing a certain levelof DX skills and knowledge, we will provide specialized
education in problem-solving training, data science,
cutting-edge technologies like AI, practical skills inplanning/promoting/managing DX projects, Python,
databases, no-code/low-code development, and more.
⃝ In fiscal 2023, we will continue initiatives such as
reducing labor at worksites through new technology
adoption and making use of AI.
⃝ We plan to complete requirements definition andbasic design for the new core information system infiscal 2023.
⃝ To comply with the Invoice System and amended
Electronic Bookkeeping Act, we will proceed with

Corporate Value Enhancement Strategya) U se DX to reform work practices, improve productivity,and deliver the new “3Ks” at worksites (kyuryo [wages],
kyuka [time off], and kibo [prospects])b) Use digital tools to reinforce safety measuresc) Use digital tools to preserve and utilize the skills of
Yokogawa’s master engineersd) Use DX to support and accelerate growth in theengineered structure systems businesse) Use DX to explore new business opportunities

Case Study 1 Digitization of manufacturing documents and inspection sheets and utilization of tablets
YBHD Group Profile

In order to achieve sustainable corporate growth and create new value in the midst of the drastically changing
social conditions around the YBHD Group, we will seek to achieve our vision by developing a DX platform throughthe concentrated investment of management resources and the establishment of an implementation system under
the slogan “Harnessing Digital Tools to Transform, Grow, and Support.”

Opening ceremony for DX specialist development specialized training(online)Yokogawa Bridge Holdings Integrated Report 2023

50

Business Base Strategies

Technology Strategy
Under the Sixth Medium-Term Plan, we are working on R&D that contributes to the goals of strengthening competitivenessin existing markets, expanding into new markets, being environmentally friendly, and promoting construction DX.

Crash tests of Rapid Guard Fence

Case Study 1 Development of “Precast Power Slab”

Review of fiscal 2022
to improve product competitiveness and increase
market share. Our civil engineering business andconstruction and machinery steel business worked tocommercialize and launch products for civil engineeringand building structures like port facility upgrades,
underground rivers, and offshore wind turbines, as wellas environment-related technologies like next-generationwater processing facilities, in order to meet social
demands for disaster prevention/mitigation, greater
national resilience, and reduced environmental impact.
In the precision equipment business, we enhanced
product value by improving existing products andadding functions based on the latest market andcustomer needs, while intensively tackling Group-wide
DX support, a key issue in the Sixth Medium-Term Plan.

Efforts in fiscal 2023

51

Yokogawa Bridge Holdings Integrated Report 2023

and their practical application to actual bridges.
Additionally, we will work on developing technologies tomake sectional use of stainless steel to prevent localized
corrosion damage, which is problematic in steel bridges.
We will continue developing and improving “cusa” andother bridge-related products to meet customer needs.
For construction DX, we will work on developing systems
that enable sharing BIM/CIM models and 3D data in thedesign, production, and erection phases to improve

RC decks on highways built during Japan’s high economic growth period are deteriorating with age, and RC deck upgrading projects areunderway nationwide. However, as these bridges are subject to long-term traffic control, streamlining thestructure and construction to shorten traffic control times is desired. The STEEL-C.A.P. Method minimizes
removal of the existing concrete on the top flange of the main girder, a process bottleneck, enabling
replacement of existing RC decks with steel decks. It is expected to greatly reduce traffic control periods.
Through fiscal 2021, we conducted various tests including full-scale replacement construction tests,
element tests on joints, and loading tests on main girder models to
Newly constructed steel deck
confirm structural viability and construction rationality.
In fiscal 2022, we carried out a project applying this method toreplace the existing RC deck of a composite girder with a steel
deck on the Midorikawa Bridge in Kitakyushu City. In addition toconfirming workability of the method on an actual bridge, loading
tests using heavy vehicles verified the structural adequacy. We
Joint member
Existing main girder
expect that this method will be adopted on many bridges,
Steel deck joint structure
Replacement with steel deckincluding on highways, in the future.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Building on last year’s efforts, we will continue initiatives toachieve the goals set out in the Sixth Medium-Term Plan.
In the bridge business, we will focus R&D on the
expanding bridge maintenance and upgrade business.
For “precast composite decks,” we will examine structuresand construction methods for applying this technology indeck upgrading projects. We will also continue to study
and make improvements to the “Rapid Guard Fence” and“STEEL-C.A.P.” method with a view to further rationalization

Case Study 2 Development of STEEL-C.A.P. Method

Striving to Help Realize a Sustainable Society

In the bridge business, we developed “precast
composite decks” to improve on-site construction
efficiency and quality, and achieved commercialization.
We also developed technologies related to maintaining
and upgrading aging bridges: the Submarine Slicer deck
removal method, the Rapid Guard Fence precast wallbalustrade, and the STEEL-C.A.P. deck replacement
method, achieving commercialization of all three. With
the market for bridge-related products like “cusa”
expanding,wecontinued
development
andimprovements tailored to customer needs, completing a
product with sound absorption capabilities.
In the engineering business, our engineered structure
system business conducted R&D to reduce costs
through streamlining design and manufacturing in order

In recent years, there has been growing demand for precast
concrete members to improve quality and reduce labor atconstruction sites. To address this need, we worked on
precasting Power Slabs, which are steel–concrete composite
decks. The Precast Power Slab is based on the structure of theconventional cast-in-place Power Slab, but uses a rationalized
joint at the perpendicular transverse joint between adjacentprecast decks, taking workability at the site into consideration.
Verification of durability through wheel
Verification of workability throughTo verify the load performance, durability, and workability load running test
actual-scale construction testof the proposed structure, we conducted joint strength tests,
wheel load running tests, and loading tests on beam models focused on main girder behavior.
We also carried out actual-scale construction testing to confirm workability. These tests confirmed that there were no issues with thestructure or workability. The results of this series of studies were recognized, resulting in adoption on an actual bridge.

Corporate Value Enhancement Strategy

The YBHD Group conducts R&D with the objective of “creating technologies that enhance the Group’s corporate
value and contribute to sustainable growth, thereby leading to business expansion.” Our units for conducting
R&D are the Technical Research Laboratory and the development and engineering departments of each
operating company. The Technical Research Laboratory is mainly responsible for basic technology research andhigh-priority research, while each operating company develops new construction methods and adds or
improves the functionality of existing products related to its own business. The Engineering Management Officeoversees all of these technology development efforts, but to further improve efficiency, we newly established theTechnology Committee in fiscal 2023 to spearhead our medium- to long-term technology strategy across theGroup. We intend to respond more promptly and accurately to societal demands while making maximum useof the YBHD Group’s entire gamut of human resources and technical capabilities related to R&D.

Common issues throughout the Group include thepromotion of Construction DX at production sites andthe reduction of environmental impact in businessactivities. We will aggressively pursue this in all of ourbusiness segments, including the use of new ICT andnew materials.

YBHD Group Profile

Basic Policies

productivity, and will work on developing safety monitoring
systems utilizing images and AI.
In the engineering business, the engineered structure
system business will continue R&D to reduce costs, andwill develop technologies to improve two-story productcompetitiveness. We will also work on development toenter new markets, such as the “Phovare” pitch hovering
arena as a special structure.
Our civil engineering business and construction andmachinery steel business will engage in development toexpand tunnel segment orders. As in the previous year,
we will also work on developing civil engineering andbuilding structures like port facility upgrades,
underground rivers, and offshore wind turbines.

52

Business Base Strategies

Human Resources Strategy
Four Pillars to Achieve Our Vision for the Futurea) As a leading company in the industry,
systematically accumulate a wide range ofexperiences and skills to swiftly respond toincreasingly diverse and advanced
technical needs.

Basic Policies

In addition to maintaining and enhancing our high levelof technical skill accumulated over 100 years of history,
we aim to strengthen the human skills that allow us towork cooperatively with various internal and external
stakeholders with a sense of mission as a leading
company in the industry.

Based on the above characteristics, our policies
regarding human capital are as follows:

YBHD’s characteristics
In considering our human resources strategy, we haveorganized the characteristics and strengths of ourbusiness as follows:⃝D riven by the desire to safely and securely support
the lives of as many people as possible, we haveworked diligently in “monozukuri” manufacturing tomeet the needs of customers and expectations oflocal residents. As an industry leader, we haveproactively pioneered the development of newtechnologies and construction methods.
⃝A mid changes in society, we have pursued growth byleveraging our existing strengths while seizing new
business opportunities and actively taking onchallenges.

Under our basic policy on sustainability, we arecommitted to “contributing to the development ofsociety by creating and protecting high-quality products
and passing them on to future generations.” We also
regard people as the most important factor in running acompany. Given that, we believe that to achievesustainable corporate growth and increase corporate
value, it is extremely important to develop personnel
with a wide range of experiences and skills who can
respond to increasingly diverse and advanced needs.
Therefore, our policy is to foster the continuous growthof each diverse employee from a medium- to long-term
perspective so that they acquire a high level of expertise.

b) Workplace Environment Development Policy

Indicators to Monitor the Outcomes of Human Capital Initiatives
Indicators
Train humanresources
Improve company
environment

FY2022 results

FY2023 target

Number of qualified personnel*

1,244

1,320

Qualification acquisition support rate

100%

100%

Number of accidents causing four or more days of lost worktime

70Compliance and anti-harassment training rate

97.1%

100%

Retention rate (three years after joining as a fresh graduate)

90.5%

100%

* Total number of employees certified as Professional engineer / First-class architect / First-class civil engineering management engineer / First-class architectural construction management engineer / Construction accountant (1st and 2nd classes)

53

Yokogawa Bridge Holdings Integrated Report 2023

Specific initiatives⃝ Acquiring qualifications to improve skills⃝ Personal career development and job rotation using aself-directed application system⃝ Making use of HR systems in view of life eventsc) Further cultivate a corporate culture where
it is easy to cooperate across departments
by fostering a sense of psychological andphysical security through accumulation ofsafety awareness.
Specific initiatives⃝ O ngoing safety improvement
activities⃝ Compliance and anti-harassment
training⃝ Correcting long working hours⃝ Enhancing and promoting utilizationof various types of leave system⃝ P ersonnel exchange and job
rotation to support collaboration
across departments

Data Section

For a company like YBHD that engages in “monozukuri”
manufacturing, securing the safety and security of
employees is a vital issue for sustainable business activities.
Building a company culture where employees cancollaborate beyond their departments, fostered by thepsychological and physical sense of security that comesfrom accumulated safety awareness, is also crucial. We
believe that such a corporate culture leads to theconstruction of high-quality structures and has ripple
effects in delivering safety and security to society. Therefore,
our policy is to protect the safety and mental and physicalhealth of employees, respect human rights, and ensure a
discrimination-free, healthy workplace environment.

b) Create an environment where each
employee can accumulate diverse
experiences and achieve continuous growth.

Striving to Help Realize a Sustainable Society⃝U nder our corporate philosophy of “Contribution tosociety and the public, and sound management,” wehave long been engaged in creating products that
support the world, with safety and quality as thefoundations on which our company was built.

a) Human Resources Development Policy

Specific initiatives⃝ Long-term development of personnel sympathetic to
our corporate philosophy and business⃝ Systematic training tailored to job level and role
⃝ Visualization of skills and experience using a talentmanagement system⃝ Personnel exchanges and job rotations to foster
broad business understanding and assignment of theright people in the right jobs

Specific initiatives⃝ Selective development of personnel with high IT
literacy

Corporate Value Enhancement Strategy

Vision for the Futured) Develop DX specialists to enable more
efficient business operations and greater
safety.

YBHD Group Profile

With the goal of realizing our vision and further expanding our business, we have identified four key points. We will
steadily execute them while monitoring progress of each initiative.

Feature in company newsletter:
Support programs for balancing work and parenting
Yokogawa Bridge Holdings Integrated Report 2023

54

Business Base Strategies

ESG Initiatives

Focus initiatives under the
Sixth Medium-Term Plan

Yokogawa Bridge Holdings Integrated Report 2023

FY2024 20% reduction
FY2030 50% reduction
FY2050 Carbon neutral* vs. FY2020, Scopes 1 & 2⃝TCFD-based information disclosure

Social⃝Promote diversity⃝Reform work practices⃝Train human resources, pass ontechnical skills⃝Support disaster recovery
Carry out emergency checks andprovide temporary bridges⃝Eliminate serious workplace
accidents and incidents
Enforce safety measures, improve
on-site installations, and use DX to
improve safety

Governance⃝Reinforce risk management
Group internal control system,
voluntary audits⃝Enforce compliance
Compliance Committee, internal
whistleblower system⃝Strengthen the corporate
governance system
Evaluate board effectiveness, improvecooperation with outside directors⃝Implement IT security measures
Reevaluate and strengthen current
measures

Disclosure of Information
We will strive to disclose information to stakeholders in a timely and appropriate manner and ensure transparency.

Assigning of priority order to materiality candidate items

Environment
1R esponding to the material risk associated withclimate change and natural disasters
2R esponding to demand for the development ofdisaster-resistant products
3R esponding to demand for retrofitting services andmaintenance associated with National Resilience
Promotion

Blue: Opportunities

Impact on stakeholders
Materiality examination scope

High

⓾
⓬⓭

123
456
789
⓮⓯

Social4 Ensuring the stable supply of products
5 Quality assurance

6 Support for disaster recovery

7 Safeguarding occupational health and safety
8 Responding to global health issues

9 Securing talent and promoting diversity

Black: Risks

High⓾ Strengthening of talent management⓫ Labor productivity enhancement

Data Section

55⃝Reduce CO2 emissions
Switch to renewable energy, installsolar power facilities, etc.

Striving to Help Realize a Sustainable Society

3 Governance
As a Prime Market-listed company, we will establish astrong governance system that complies with the
Corporate Governance Code, including implementation⃝Develop green energy andtechnologies with low
environmental impact
Make effective use of offshore windturbines, next-generation water treatment
facilities, low-carbon materials, etc.

Sustainability Promotion Structure(1) Among the various sustainability issues, we will identify those that the YBHD Group should give priority to as
materiality (key issues) and reflect them in our medium-term management plan. Each materiality will be
reviewed as necessary.
(2) Materiality identification will be discussed by the Sustainability Committee and approved and monitored by the
Board of Directors.
(3) The Board of Directors will monitor the progress of goals and initiatives with respect to individual sustainability
issues.

Impact on YBHD

2 Social
As the aging of urban and transportation infrastructure
becomes a social issue, we will contribute to safe and securecity and community development and maintenance by
providing high-quality and highly durable infrastructure. We
also help to build a strong, risk-resistant economic foundationby providing and maintaining a high-quality logistics network
to prepare for new risks that could have a significant impact
on economic activities. In the event of large-scale natural
disasters, in particular, such as an earthquake or torrential
rain, we will conduct emergency inspections of our products,
and we will also establish a system to provide prompt support
to affected areas based on disaster-relief support agreements.
Meanwhile, in light of the fact that new working
practices, such as teleworking, have taken root due tothe spread of COVID-19, we will examine ways ofworking that can cope with various situations, as well as
develop an environment and systems that enable
diverse human resources to play active roles.

Environment⃝Capture demand from national
resilience plans
Develop underground river structures,seawalls, and bridge deck replacement
methods

Corporate Value Enhancement Strategy

1 Environment
To achieve carbon neutrality by 2050, we will switch to a
CO2 emission reduction plan for purchased electricity andinstall solar power facilities. By carrying out these climatechange countermeasures, we plan to reduce CO2
emissions in our business activities (Scopes 1 and 2) by
20% from the fiscal 2020 level by fiscal 2024. We will also
work with relevant parties to reduce CO2 emissions during
the manufacturing process of steel and other raw
materials (Scope 3). As part of our long-term efforts, wewill actively engage in the development of technologies
for reducing environmental impacts, including the effective
use of low-carbon materials, offshore wind power
facilities, and more efficient water processing facilities.
Furthermore, as a countermeasure against natural
disasters, which have been increasing in recent years, we will
focus on developing disaster-resistant products and providing
upgrading services and maintenance for urban infrastructure.

of board effectiveness evaluations and enhancement ofcooperation with outside directors.
In addition, in order to respond to the accelerating
digitalization of society, we will actively promote DX andexpand the adoption of new IT services while re-examining
and continuously strengthening our measures for information
security, the risks of which are feared will increase.

Basic Sustainability Policy
Basic Approach
Under the corporate philosophy of “Contribution to society and the public, and sound management,” the YBHDGroup aims to realize its management vision of “long-term protection of bridges,” “multifaceted steel structureengineering,” “creation of a resilient social environment and harmonious coexistence with the natural environment,”
and “construction of a robust operational foundation,” as well as the pursuit of sustained expansion. Based on thisvision, our basic sustainability policy is to contribute to the development of society by creating and protecting highquality products and passing them on to future generations.
We will actively and proactively work to resolve social, environmental, and other sustainability issues with a view
to not only reducing risk but also increasing corporate value over the medium to long term, based on our recognition
that this will lead to new revenue opportunities.

YBHD Group Profile

Seeking to realize a sustainable society, we will advance the development of sustainable cities and communities throughthe improvement of social infrastructure, which is the YBHD Group’s business, in an effort to solve various issues faced by
local communities. Furthermore, we will help to solve social issues such as global warming, effective use of limited
resources, declining birth rate and aging population, and reform of work practices, which are required regardless of industry.

⓬R especting the human rights of our employees, and the employees of partner companies and suppliers⓭ Prevention of overwork and promotion of work-life balance, and realizing equivalent compensation for equivalent work
Governance⓮ Fair transactions and prevention of corruption⓯Information security management
Yokogawa Bridge Holdings Integrated Report 2023

56

Business Base Strategies

List of Materiality Items and KPIs
From an ESG viewpoint and in light of the various Sustainable Development Goals (SDGs) and the direction of the
YBHD Group’s business, we have identified materiality (key issues) that should be prioritized by the Group and areworking actively to resolve various issues in society to help realize a sustainable society.
ESG

Materiality (Key Issues)

Measures

1 R esponding to the material risk associatedwith climate change and natural disasters

Specific Content

FY2022 Results

Implementation of BCP training

20 or more times per year

20 times per year

20 or more times per year

⃝ CO2 emissions reduction

CO2 emission reduction rate, short-term target (20% in FY2024)(Base year: FY2020, Scopes 1 and 2)—

Down 19%—

Continuation of a 100% steel recycling rate

100%

100%

100%

R&D expenses

0.8 billion yen

0.5 billion yen

0.9 billion yen

Bridge maintenance business net sales

24.0 billion yen or more

26.7 billion yen

26.0 billion yen or more

Capital expenditures (totaling at least 18.0 billion yen in FY2022–2024)—

3.4 billion yen—⃝ Promoting the adoption of renewable energy
Reducing the environmental footprint ofbusiness activities⃝ Reducing wastage of materials and improving the recycling rate
⃝ Developing products with minimal environmental footprint andproviding related technologies⃝ Reusing materials and reducing electricity consumption at all facilities

2 R esponding to demand for the development
of disaster-resistant products

Developing products and construction
methods that will contribute toward reducing
the damage suffered in a natural disaster3 R esponding to demand for retrofitting
services and maintenance associated with
National Resilience Promotion

Developing technologies and products
relating to the improvement, maintenance,
and upgrading of the highway network⃝ Development of earthquake-resistant products⃝ Development of products and construction methods that facilitate earlyrecovery in the event of an unanticipated disaster⃝ Development of technologies for enhancing and upgrading thefunctionality of existing infrastructure⃝ Development of maintenance-friendly aluminum and stainless steel products

4 E nsuring the stable supply of products

Strengthening production and construction
systems⃝ Strengthening BCP-related investment, facilities, and personnel

Personnel (2,150 in FY2024)—

 uality assurance
5Q

Preventing the reoccurrence of quality
non-conformance incidents⃝ Quality management system utilization and continuous improvement⃝ Reflecting information obtained at every stage, from planning anddesign through to manufacturing and construction, and information
obtained through inspections and diagnostics

Construction grades for bridge business

Average of 80 points or
higher

6 S upport for disaster recovery

Strengthening systems for providing rapid
support⃝ Building the systems needed to allow high-priority response in theevent of an incident and the provision of related equipment

Conducting disaster response training

Once a year

Environment

7 S afeguarding occupational health andsafetyThorough prevention of serious accidents

Infectious disease response measures andputting in place the environment neededfor employees to maintain and improvetheir healthSocialPromotion of recruitment activities⃝ Reducing the incidence of fatal accidents to zero through measures toeliminate the danger from tasks that involve working at heights⃝ Putting in place the environment needed for teleworking and flexible
work hours and implementing these measures⃝ Promoting health management that makes effective use of“collabohealth” (collaboration between Health Insurance Society
providers, companies, and employees)⃝ Effective utilization of site visits, internships, and the holding of
seminars in schools and colleges

9 S ecuring talent and promoting diversity
Effective utilization of diverse human talent*Including equity method affiliates.

Average of 83.8 points—
Average of 80 points or
higherFatal accidents0

Response training: once a year
Support for disaster recovery: Once a year
3 cases00Number of accidents causing four or more days of lost worktime

0

7

0

Frequency rate

—

0.98

—

Severity rate

—

0.06

—

Average number of lost workdays per casualty

—

63.9

—

Application for the Health & Productivity Management Outstanding Organization Recognition Program

Apply

CertifiedCertifiedAchievement of recruitment plan for the fiscal year

Recruitment plan: 55 hires
Achievement rate: 100%

Employment rate of persons with disabilities (average for 5 operating companies)

2.3% or higher

Recruitment plan: 53 hires
Actual: 58 hires Achievement rate:
109.4%
2.39%

Percentage of female employees out of all employees

15% or higher

15.3%

15% or higher

Steady increase in the rate of male employees taking childcare leave

—

34.4%

—

Return-to-work rate after childcare leave

100%

100%

100%

Utilization of foreign human resources (including transfers and trainees from Group companies)

36 or more

42

42 or more

Support for acquisition of necessary qualifications according to the type of job(Professional engineer / First-class architect / First-class civil engineering management engineer / First-classarchitectural construction management engineer / Construction accountant (1st and 2nd classes))

Target: 267 people
Support implementation
rate: 100%

Target: 243 people
Support implementation
rate: 100%

Target: 324 people
Support implementation rate:
100%

Establishment of an internal certification system for DX personnel and certification of about 50
employees (50 in FY2024)

—

0

—

Expansion of the area of ordered engineered structures through promotion of DX(1.3 million m2 or more in FY2024)—

0.86 million m2—

Percentage of harassment training provided through e-learning

100%

97.1%

100%

Recruitment plan: 64 hires
Achievement rate: 100%
2.3% or higher

Support for self-directed careerdevelopment⓫ Labor productivity enhancement

Effective utilization of technology (with ICT
as the core element) and business process
improvement⃝ Development of new, labor-saving construction methods, promotion of
R&D, and promotion of digital transformation (DX)

Thorough implementation of mutual
respect⃝ Implementation of the YBHD Code of Corporate Behavior andcontinuing education

Steady efforts to reduce working hours,
and promotion of leave-taking
Commitment to fair remuneration⃝ Active promotion of incentive systems and of the various types of leavesystem⃝ Establishment of internal systems in relation to various laws
⃝ Formulation of manuals and rules, compliance with their stipulations,and related education

Percentage of construction sites implementing 7 days off in a 4-week schedule: 100% (FY2022),
8 days off in a 4-week schedule: 100% (FY2023 andFY2024)7 days off in 4 weeks
implementation rate: 100%

7 days off in 4 weeks
implementation rate: 85%

8 days off in 4 weeks
implementation rate: 100%

Number of serious noncompliance incidents

0

0

0

⃝ Auditing of compliance status and appropriate utilization of the internal
whistleblowing system

Conducting independent audits in all departments of each Group company based on the Group’s
internal control system and auditing regulations, as well as identification of events and implementationof preventive, remedial, and recurrence-prevention measures

Once a year

Once a year

Once a year

⃝ Appropriate operation of the Compliance Committee and Sustainability
Committee

Auditing department personnel and implementation of education on internal controls

Personnel: 38
Education implementation
rate: 100%
Twice a year

Personnel: 41
Education implementation
rate: 100%
Twice a year

employees, and the employees ofpartner companies and suppliers⓭ Prevention of overwork and promotion ofwork-life balance, and realizing equivalent
compensation for equivalent work

⓮ Fair transactions and prevention ofcorruption⓯ Information security management

Yokogawa Bridge Holdings Integrated Report 2023

Thorough implementation ofcompliance and transaction record
management,
thorough implementation of effective
corporate governance and risk
management
Preventing the leakage of corporate
business secrets⃝ Further improvement of the system for appropriate risk management

Conducting meetings between the Group’s auditors and the head of the Audit Office

Personnel: 31
Education implementation
rate: 100%
Twice a year

⃝ Improvement of the rules for preventing data leaks, andimplementation of related training

Number of serious information security incidents

0

0

0

Implementation of training on data preservation in the event of a disasterOnce a year

Once a year

Once a year
Yokogawa Bridge Holdings Integrated Report 2023

Data Section⓾ Strengthening of talent management⃝ Job rotation using a self-directed application system, and appropriate
personnel allocation⃝ Support to help employees secure professional qualifications andimplement various types of training⓬ Respecting the human rights of our57⃝ Proactive recruitment and effective utilization of human talentregardless of nationality, gender, or age, including persons withdisabilities and senior citizens

2,017*FY2023 Target

Striving to Help Realize a Sustainable Society

8 Responding to global health issues

Governance

KPI (Key Performance Indicator)

Corporate Value Enhancement Strategy

FY2022 Target⃝ BCP formulation and continued effective utilization and training

YBHD Group Profile

Establishing systems to facilitate business
continuity

58

Our Businesses

YBHD Group Profile
Corporate Value Enhancement Strategy

Social Initiatives………………………………………65
GovernanceCorporate Governance……………………………69
Risk Management…………………………………79
Compliance…………………………………………81

Striving to Help Realize a Sustainable Society

Striving to Help Realizea Sustainable Society

Environmental initiatives……………………………61

Data Section

59

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

60

Environment

Environmental Initiatives

Main initiatives
Working to reduce CO2 emissions

Scope
Scopes1&2

Base year
FY2020Target year

TargetFY202420% reduction

FY203050% reduction

FY2050Carbon neutrality

CO2 emissions(t-CO2)

FY2020

FY2021

FY2022

Scope 1

2,539

4,856

Scope 2

10,77910,647

4,508
6,241

Scopes 1 & 2 total

13,31815,503

10,749

Scope 3

332,518

361,007431,556

Scopes 1-3 total

345,836

376,510442,305

In our bridge business, we are involved in themaintenance business and bridge peripheral business,

A solar power system installed at the
Yokogawa System Buildings’ Mobara Plant

Quality and Environmental Strategy(Yokogawa Bridge Corp.)
Basic Principles
Yokogawa Bridge Corp. will contribute towards therealization of a sustainable society through the provision ofhigh-quality infrastructure-related products and by reducing
the environmental footprint of our business activities, in linewith our corporate philosophy of “Contribution to society
and the public, and sound management.”

Basic Policies
1. We will meet customers’ needs and comply with
relevant laws and regulations in regard to products.
2. We will identify and comply with applicable laws,
regulations, and agreements in regard to theenvironment.
3. We will help to safeguard the environment in ourbusiness activities by formulating measures withrespect to the prevention of global warming,
prevention of pollution that might affectneighboring residents or the natural environment,
the three “Rs” (Reduce, Reuse, and Recycle), andappropriate disposal of waste, etc.
4. We will continuously work to improve our quality
and environmental management systems in orderto enhance our operations, the quality of our
products and customer satisfaction, and to reduce
our environmental footprint.

Materials flow (as of FY2022)

61

Yokogawa Bridge Holdings Integrated Report 2023

Outputs
CO2 emissions

Bridge businessEngineering business
Precision equipment business
Real estate business

10,749 t

Construction waste

6,979 tSteel-related
emissions
Steel reuse rate

12,125 t
100 %Initiatives for biodiversity
The YBHD Group’s activities have the potential to impact thenatural environment in all kinds of locales and settings where
there are diverse ecosystems. Under these circumstances,
we make efforts to minimize the impact on biodiversity.

Case Study 1 New construction method considerate of biodiversity on the New Nobi Bridge (tentative name) P5-A2
The New Nobi Bridge (tentative name), crossing the Kiso River, a class A river, from Hashima City, Gifu Prefecture, to Ichinomiya City,
Aichi Prefecture, is a road bridge located about 1 km downstream from the Tokaido Shinkansen. The freshwater fish Itasenpara
bitterling, a species endemic to Japan and only found in the waters of three areas including the Nobi Plain, has been confirmed near
the bridge site. Designated as a protected species in Japan, it is listed as Critically Endangered on the Regional Red List compiled by
Japan’s Ministry of the Environment. For this construction project, a superstructure launching bridge erection method was adopted that
does not require temporary facilities to be installed in the waters, so that construction would not impact the Itasenpara bitterling habitat.
Considering biodiversity and with a view to sustainable development, we devised the following construction methods that did not
require entering the waters: 1) new development of equipment to rotate and remove the launching nose that needed to be removed
from the middle of the river; and 2) devising a construction method to transport for installation 11-ton bearings (members that support
the bridge on the piers) from land 75 meters away to the bridge piers in the river. Through the use of these new construction methods,
and by applying the on-site coating in advance to prevent paint runoff in the river, continuous environmental surveys have confirmedthat the Itasenpara bitterling habitat has been maintained without being affected by the long-term construction work.

Rotating the launching nose

Launching nose rotating equipment

Transporting the P6 bearing

Case Study 2 Initiatives considerate of rare fish species during construction of the New Oigawa Bridge (P9-A2)
The New Oigawa Bridge in Shimada City, Shizuoka Prefecture, is a road bridge crossing the Oi River, a class A river. Located in thelower reaches of the Oi River water system (about 16 km upstream from the river mouth), the waters here are home to endangered
species such as Liobagrus reinii and the fourspine sculpin, as well as many other rare fish. However, due to constraints on construction
conditions, it was unavoidable to carry out construction in the river for this project, raising concerns about the impact on the ecologyof rare fish species from water pollution caused by the construction work.
Therefore, on days when construction was carried out in the river, we measured water turbidity three times a day, reported themeasurements, visual conditions, and work details to the project owner, andthoroughly managed the pace of construction based on the measured turbidity, inan effort to prevent water pollution. Turbidity quantifies the cloudiness of river water
caused by suspended sediment, etc., and is commonly used as an indicator for
river water quality management.
In this way, by thoroughly informing not only Yokogawa employees but also eachand every worker involved in the construction about the impact on rare fish species
and their conservation in relation to bridge construction, and also by seeking advice
from experts as well as the project owner, we made concerted efforts as stakeholders
Erecting bridge girders in the riverto minimize the impact on rare fish species.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Business activities consume energy (including electric power) and resources, and generate both greenhouse gas
emissions and waste. We have been working to clarify this environmental footprint in terms of inputs and outputs
as a basis for implementing activities to reduce our environmental footprint.
InputsEnergy26.61 million kWh⃝Electric power
607 kL⃝Gasoline
500 kL⃝Diesel
132 kL⃝Kerosene
711,000 m3
⃝Gas
Water
68,000 m3
Main construction 143,000 t
materials (steel)Responding to demand for retrofitting
services and maintenance associated with
National Resilience Promotion

Striving to Help Realize a Sustainable Society

CO2 emissions reduction target

The YBHD Group is working to develop products andconstruction methods that will help reduce damage indisasters. (See pages 51–52 for information on R&D initiatives.)

viewing national resilience enhancement measures andthe western extension of Osaka Bay Road as future
opportunities in addition to large-scale renewals andrepairs of highway bridges. (See pages 37–40 for
information on bridge business initiatives.)

Corporate Value Enhancement Strategy

For Scope 1 emissions, we have introduced hydrogenvehicles as company cars to reduce our environmental
impact. For Scope 2, in addition to switching to an electric
power plan that reduces CO2 emissions, we are steadily
installing solar power systems. In fiscal 2022, we installed
solar power systems for self-consumption at our TechnicalResearch Laboratory and the Mobara Plant of Yokogawa
System Buildings, and have started utilizing the solar
power they generate. We also switched the electric power
used at four business sites and three plants in the Kanto
region to a CO2 emissions reduction plan.
Through these efforts, we were able to reduce CO2
emissions (Scopes 1 and 2) from business activities in fiscal
2022 by 19% compared to the base year of fiscal 2020.

We will also work with
relevant parties to reduce
CO2 emissions during the
manufacturing process ofsteel and other raw
materials (Scope 3).

Responding to demand for the development
of disaster-resistant products

YBHD Group Profile

The YBHD Group has established “creation of a resilient social environment and harmonious coexistence with thenatural environment” as one of its management vision pillars. While striving to build resilient infrastructure tosafeguard both people’s lives and business activity from the impact of natural disasters such as earthquakes, megatyphoons, torrential rains, etc., we also minimize the impact of our own business activities on the natural environment.
In response to climate change, the YBHD Group aims to contribute to the transition to a low-carbon economy andhas incorporated reduction of CO2 emissions and efficient management of resources into its business activity goals.

62Environment

Initiatives to address climatechangeMembers

Audit & Supervisory Board Member,executive officers and senior staff ofoperating companies

Activities in
3 meetings
FY2022⃝Identification of materialities (key issues)and setting KPIs
⃝Calculation of CO2emissions (Scopes
1, 2, and 3) and measures for reduction⃝Responses to TCFD disclosure,
etc.

Risk management

Major risks and opportunities arising from climate change, their impact on business, and our responses
Category

Holding company: Yokogawa Bridge Holdings Corp.

Indicators and targets

Board of Directors
Supervision

Submission and discussion
Management Committee

Direction and supervision

Submission and discussion

Sustainability Committee (Chair: Executive officer)
Reporting

Sustainability Working GroupCO2 emissions reduction target

Measurement and reporting
Scope

Base year

Target year

TargetFY202420% reduction

FY203050% reduction

FY2050Carbon neutrality

Operating companies
Coordination and collaboration
Customers and business partners

Scopes
1&2

FY2020Affected
Time Magnitude
businesses*1 frame*2 of impact

Measures⃝Cooperation with steel manufacturers in the development ofdecarbonization technologies⃝Application of new materials such as FRP-balsa materials, lumber, andlow-carbon concrete to the Group’s business fields

Increase in steel prices andshortages due tointroduction of low-carbon
technologies

B, E

Long
term

Large

Increased incidents ofheatstroke and reduced
work efficiency due to risingtemperatures, and increased
costs for heatstroke
countermeasures

B, E

Now

Large

Extreme weather conditions
impacting procurement
networks, disrupting ordelaying construction

B, E, PE

Now

Large

Damage to own facilities due
to extreme weather

B, E

Now

Large

Expansion of national
resilience, disasterprevention, mitigation, andmaintenance markets

B, E

Now

Large

⃝Introduction and use of ICT for working environments and healthmanagement⃝Promotion of labor savings through robotization of welding operations
and use of ICT⃝Provision of air-conditioned clothing, etc., in the workplace⃝Strengthening BCP-related investment, facilities, and personnel⃝BCP formulation and continued effective utilization and training⃝Utilization of products and construction methods that facilitate earlyrecovery in the event of an unanticipated disaster⃝Responding to increased orders and production expansion by
developing a DX-based production management system and sales
management system⃝Accurately identifying demand for bridge replacement and facility
relocation, and strengthening technical proposal capabilities⃝Development of technologies that contribute to improving safety andworkability at disaster sites by promoting construction DX⃝Provision of Disaster-prevention Pre-cast Sea-walls to reduce thedamage caused by tsunamis and storm surges⃝Provision of internal water pressure-compatible tunnel segments forunderground rivers that are prepared for heavy rainfall disasters⃝Provision of technology for replacing aging road bridge decks⃝Provision of maintenance-related products made of aluminum andstainless steel⃝Provision of hybrid steel and wood products⃝Application of effective elemental technologies such as electric furnacesteel, low-carbon concrete, and environmentally friendly paints⃝Use of the new technology of decarbonized processing machinery(electric and hydrogen)⃝Promotion of technological developments such as pre-casting and rapid
construction methods to shorten construction periods on-site

Data Section

Guidance, supervision,and coordination

Opportunities

Instructions andcoordination

We set out a goal of achieving carbon neutrality by
reducing CO 2 emissions (Scopes 1 and 2) in ourbusiness activities to zero by fiscal 2050. To achieve thisgoal, we have established a mid-term target of a 50%
reduction* in Scopes 1 and 2 CO2 emissions in fiscal
2030 and a short-term target of a 20% reduction* infiscal 2024. (*The base year is fiscal 2020)

Risks/opportunities andimpact on business

Striving to Help Realize a Sustainable Society

The effectiveness of the internal control system ismonitored based on reports from operating companies
regarding the identification of business risks, including
materialities, and the implementation, evaluation, andimprovement of response measures. The risk
management department consolidates and evaluates
this information at a company-wide level and reports toboth the Board of Directors and the Audit & Supervisory
Board.
The Sustainability Committee identifies immediate tomedium- to long-term risks arising from climate change
and assesses their impact on our business. The identified
risks, as well as countermeasures, are examined by the
Sustainability Committee and the Sustainability Working
Group, which is in charge of practical matters, working
together. Particularly important issues are deliberated by
the Board of Directors.

Risks

The Sustainability Committee, an advisory body to theBoard of Directors, reviews agenda items on basic
management policies, business activities, and corporate
governance policies and strategies related tosustainability, including climate change, and ESG more
broadly. Important policies and measures are reported
to the Board of Directors for deliberation and decisionmaking after discussion by the Management Committee.
The Sustainability Working Group, which is asubordinate body of the Sustainability Committee,
incorporates the decided policies and measures intobusiness activities and promotes specific initiatives incoordination and collaboration with operating companies
as well as customers and business partners.

Executive officers of major operatingcompanies

We conducted an analysis to determine how climatechange would affect the Group’s operations andfinances. The scope of the analysis covered theCompany’s major businesses (Bridges, Engineering,and Precision Equipment), and the period of the analysis
was from the present to around 2050.
The bridges and engineered structures provided by
the YBHD Group use steel, cement, and other materials
that emit a large amount of CO2 during their manufacture.
CO2 emissions are also generated from the transportationof these raw materials and building materials, and fromthe operation of heavy machinery during construction.
In addition, as requests for environmental considerationfrom local governments and private-sector companies,
which are our main customers, are increasing year by

year, we are developing technologies such as lowcarbon construction methods and low-maintenanceproducts, and pursuing a 100% recycling rate for steel
materials throughout the Group.
Given these business characteristics, we haveidentified the following as major risks: price increases
and shortages of steel due to tighter regulations on CO2emissions and the introduction of a carbon tax; a decline
in labor productivity at construction sites due to chronic
temperature increases; and supply chain disruptions
and damage to our own facilities due to increased andmore severe extreme weather events.
As for opportunities, we have identified the expansionof the market for national resilience, disaster prevention,
disaster mitigation, and maintenance.

Corporate Value Enhancement Strategy

GovernanceCommittee
members

Chair

Strategy

YBHD Group Profile

The YBHD Group recognizes climate change as animportant management issue, and in 2020, identified“Responding to the material risk associated with climatechange and natural disasters” as a materiality (keyissue).
To contribute to the transition to a low-carbon society,we will further promote initiatives aimed at achievingcarbon neutrality and make disclosures aligned with the
TCFD recommendations.

Composition and activities of the Sustainability
Committee*1: B: Bridge Business, E: Engineering Business, PE: Precision Equipment Business*2: Time frames considered are now, short term (2-3 years), medium term (around 2030), and long term (around 2050).

63

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

64

SocialSocial Initiatives

Initiatives to ensure safety andquality
FY2022 Company-wide Health and Safety
Policy (Yokogawa Bridge Corp.)

1. Eliminating serious accidents and incidents
2. Compliance with occupational health and safety
legislation and internal rules
3. Creating a healthy and comfortable working
environment

Enhancing safety through DX
Based on the Sixth Medium-Term Plan, the entire YBHDGroup is working to “reinforce safety measures throughDX.” Yokogawa Bridge is currently trialing a “remotesafety management system” at bridge construction sites.

Case Study

Aspiring to be an engineer
Ei Ei Phyoe, Osaka Construction
Dept. 1, Osaka Construction
Headquarters, Yokogawa Bridge

Yokogawa Bridge Holdings wascertified as a 2023 Health &P ro d u c t i v i t yManagement
Outstanding Organization in thelarge enterprise category. Thiscertification
programwasestablished by Japan’s Ministry of認定証
Economy, Trade and Industry tovisualize and evaluate large
companies, SMEs, and otherorganizations
that
have
implemented especially excellent
healthandproductivity
management
practices.
Certification is conducted by the
Nippon Kenko Kaigi (Japan Health Council). Goingforward, the YBHD Group will continue to promote
initiatives for the health of employees and their families
based on the Group Health Declaration.
（大規模法人部門）

法人名

株式会社
横河ブリッジホールディングスの取組が優良であると認められました
よって、ここに「健康経営優良法人 2023
（大規模法人部門）」として認 定 します
経済産業省及び厚生労働省と共に、今後一層取組を推進されることを期待いたします

Joint safety patrols

Joint safety patrols
To verify the status of safety management at each operatingcompany and enhance employees’ and workers’ safety
awareness, committee members and auditors conductmutual safety patrols across operating companies. In fiscal
2022, patrols were carried out at three sites in December.

Sharing and analyzing quality-related information
Each YBHD Group operating company has establisheda quality management system with a dedicateddepartment. The committee aggregates quality
management information from each operating company
and analyzes it based on unified Group standards.
Information about all measures to prevent quality
nonconformities is shared across the Group.

From an article contributed to the
3D rendering of the completed bridge
October 24, 2021, issue of the journal
Construction Graph by Koichiro
Tokuda of the Yatsushiro
Reconstruction Project Office, Kyushu
Regional Development Bureau

２０２３年３月８日

日本健康会議23005911

I currently work as a construction
manager at the site of the Okishin
Viaduct construction project in
Sasebo City, Nagasaki Prefecture. I am from Myanmar, andever since I was a child, I dreamed of becoming anengineer. I chose Japan as a place to challenge myself inthis endeavor. I had no prior site experience when I was
assigned to the Okishin Viaduct site in May 2021, and it
has been over two years since then. Through hands-on
experience in on-site construction work, I have gradually
come to understand the work involved and technicalaspects. Senior staff and skilled workers listen to andunderstand my opinions more now, which gives me a real
sense of my own growth. This project involves a wide
variety of construction types, and I feel it is a site where I
can grow by gaining knowledge in diverse areas. Goingforward, I want to proactively acquire qualifications such as
certification as a civil engineering management engineer
and be active in Japan as a civil engineering professional.

Prevention of overwork andpromotion of work-life balance
The YBHD Group has formulated a 2-day Weekend
Action Plan to rectify the problem of excessively long
working hours at construction sites, and provides
training to prevent overwork.
We have also implemented work–life balancemeasures (accommodation expenses subsidy system, a
travel expenses subsidy system for employees returning
home, commemorative holidays, a telecommuting
system, a reduced working hours system, implementationof “No Overtime Days,” etc.) to support all employees inenriching both their work and private lives.

Labor productivity enhancement
The YBHD Group is promoting digital transformation (DX)and working to improve labor productivity by utilizing ICTbased technologies and improving business processes.
(See pages 49–50 for information on DX initiatives.)

Okishin Viaduct, Sasebo Road

Respecting the human rights of ouremployees, and the employees ofpartner companies and suppliers
The Group’s Charter of Corporate Behavior clearly stipulates
the requirement to respect the human rights of eachindividual employee, and prohibits discrimination on
unreasonable grounds that do not relate to the conducting ofbusiness, such as discrimination on the grounds of place oforigin, nationality, race, ethnic background, beliefs, religious
faith, gender, age, disability, or academic background.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Yokogawa Bridge Holdings Integrated Report 2023

We proactively employ diverse human talent regardless ofnationality, gender, or age, and implement various support
measures and initiatives for their development and retention.

In the midst of severe changes in its businessenvironment, the YBHD Group views the health of
employees as one of its most important management
resources and promotes initiatives to support the healthof employees and the families who support them. The
Group aims to develop its business and contribute tosociety through workplaces where employees canwork vigorously and reach their full potential.

貴法人は、従業員の健康管理を経営的な視点で考え、戦略的に実践する「健康経営」

Rebuilding Okitsuru Bridge Superstructure for Disaster
Recovery on the Okitsuru Route of Kuma Village RoadThe YBHD Group was awarded the contract to rebuild Okitsuru Bridgein Kuma Village, Kumamoto Prefecture, which was washed away bytorrential rains in July 2020. The loss of Okitsuru Bridge cut off the key
local transportation artery in the Sangaura area of the Kuma Riverbasin, leaving people eagerly awaiting rapid restoration. To meet these
expectations, we will swiftly and safely build it.
Making full use of our technological capabilities, the YBHD Groupwill continue contributing to disaster recovery work.

65

To prepare for increasingly
severe damage from abnormal
weather and earthquakes, the
YBHD Group has established asystem for swift support
through disaster management
cooperation agreements.

Group Health Declaration

Striving to Help Realize a Sustainable Society

The YBHD Group has operated the Group Safety andQuality Committee, a voluntary committee of the Boardof Directors, since fiscal 2022. The objectives of thiscommittee are to analyze the safety and quality
management operations of each operating company,
verify the feasibility of various measures, and makeproposals for improvement to the Board of Directors.

Support for disasterrecovery

Securing talent and promoting
diversity

Corporate Value Enhancement Strategy“Safety and quality” are the foundations on which ourcompany was built.
The health and safety policy outlined below has beenannounced with the aim of ensuring safety and creating
a comfortable working environment based on theprinciple of respect for human rights and the principle ofcompliance with relevant laws and regulations.

In October, Yokogawa NS Engineering plans to introduce“AI-based detection of entry into hazardous areas” at its
Kashima Plant. We will share these initiatives across theGroup and consider expanding their application.

Responding to health issues

YBHD Group Profile

The YBHD Group recognizes its roles as including “Creating value for society and the public by building andprotecting high-quality products and connecting them to future generations,” and “Contributing to the improvementof regional convenience and the development of social life and logistics through infrastructure development.” To
sustain growth driven jointly by people and technology, the YBHD Group focuses on developing the specializedskills of its employees while also working to improve labor conditions and occupational safety and health.

66

SocialSocial contribution activities

The YBHD Group has expanded its business, with people and technology as the sources of growth. Engineers who
have grown by making use of company systems to support self-directed career development are active across various
departments. (See P.53-54 for our human resource strategies.)

To fulfill our roles and responsibilities as an enterprise engaged in providing society with infrastructure and the foundations fordaily life as well as a corporate citizen that seeks to work in harmony with the local community, we implement measures toinvigorate local communities with the goal of helping to create a society in which people can live safely and with peace of mind.

Knowledge Gained from Experience Is a Treasure
Hirofumi Kamegawa , Manager, Tokyo Technical Planning Department, Technical Planning Office, Yokogawa Bridge Corp.

Case Study 2 Sponsorship: Tokyo National Museum
We sponsored the Tokyo National Museum’s 150th Anniversary
Special Exhibition “Tokyo National Museum: Its History and National
Treasures,” held from October 18 to December 18, 2022. The
museum houses over 1,100 pieces in the Yokogawa Collection ofancient pottery and porcelain donated by the YBHD Group’s founder,
Dr. Tamisuke Yokogawa. Our sponsorship was tied to the exhibition ofa work from the collection, a celadon glazed foliate bowl. The
exhibition was so popular that its run was extended, allowing us to
support the opportunity for many people to experience Japan’sculture.

Important Cultural Property: Celadon
Glazed Foliate Bowl
Chinese Guan Ware, Southern Song
Dynasty, 12th–13th century
Gift of Tamisuke Yokogawa, Tokyo
National Museum collection*Photographed with special permission

Case Study 3 Supporting Fujikawaguchiko Town’s Music Town Development Project
The Mt. Fuji Kawaguchiko Piano Festival 2022 was held in Fujikawaguchiko Town, Yamanashi Prefecture, from September 22 to 25,
2022. This festival, held for the second time following its debut in 2021, is part of the town’s Music Town Development Project. Worldrenowned pianist Nobuyuki Tsujii was the pianist-in-residence, with performances by other distinguished pianists as well.
The well-received music class at a local elementary school and free picnic concert in a municipal park (Photo ①) from the first festival
were held again, contributing to the promotion of local culture, education, and the arts
together with local volunteer staff. As the first festival was covered by media outlets, theattendance was higher this time. The event draws classical music fans from acrossJapan, benefiting the local economy as well.
In fiscal 2023, we will continue supporting thisproject through a corporate hometown tax payment(a donation), which was inspired by our constructionof a retractable roof for Kawaguchiko Stellar Theater(Photo ②), the main venue of the festival.
Mt. Fuji Kawaguchiko Piano Festival 2023 washeld September 15–18, 2023.
https://pianofes.stellartheater.jp/①②

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Yokogawa Bridge Holdings Integrated Report 2023

Students gain hands-on experience at aconstruction site.

Striving to Help Realize a Sustainable Society

67

To give students a hands-on sense of the appeal of the construction industry, in fiscal
2022 we held bridge construction site visits for nearby elementary school students andtheir guardians a total of eight times at the Higashiharima Nanboku Road site in
Kakogawa City, Hyogo Prefecture. A total of 500 people participated. Throughexperiences such as tightening high-strength bolts, tying rebar, and riding in construction
equipment, we stimulated interest in bridge construction and provided an opportunity tolearn about roads.

Corporate Value Enhancement Strategy

It has already been 33 years since I joined Yokogawa Bridge Works Ltd. (now Yokogawa Bridge Corp.) in April
1990. I’m currently the manager of the Tokyo Technical Planning Department in the company’s Technical Planning
Office. The Technical Planning Office mainly creates technical proposal documents for competitive bidding
projects that use comprehensive evaluation. It’s a high-pressure job, as evaluation scores on technical proposals
greatly impact the winning of project contracts. The technical proposals require broad knowledge to address
diverse issues such as improving bridge quality and durability, enhancing safety and efficiency during erection, and measures to reducenoise and vibration in consideration of local residents. I believe I am able to play an active role now thanks to the knowledge gained
through my experience in various departments over the years. In this article, I will briefly introduce my career history and the experienceand knowledge I acquired in each position. I hope it serves as a reference for younger engineers working to build their careers.
My first assignment after joining the company was a two-year stint in the Construction System Department at Yokogawa TechnoInformation Service Inc., another YBHD Group company. There, I was assigned to program HI-CAD, a road design system, andlearned programming from scratch. This skill continues to be extremely useful when developing systems for technical proposals.
After completing that assignment, I spent seven years in design-related departments at Yokogawa Bridge. One particularly memorable
detailed design project was Tadami River Bridge on the Ban-etsu Expressway. The bridge is an arch bridge (upper deck Lohse bridge),
but the arch was low and flat, requiring diagonal bracing members in an unusual structure, making it a challenging design. In the Design
Department, I learned structural analysis techniques (methods to calculate structural forces and deformations using computer programs),
which later helped me pass the national certification exam for a Professional Engineer in the construction field.
After my experience in the Design Department, I spent five years assigned to the construction site of Oigawa Bridge on the Shin-Tomei
Expressway. This is an enormous 704-meter-long composite box girder bridge with some of the largest PC decks in Japan. The erection
method used was incremental launching. At this site, I was responsible for managing aspects such as reaction control and shape
management during incremental launching and managing thecasting of the PC decks, giving me a real sense of the
difficulties of on-site construction. I also had opportunities tocontribute many papers and articles to professional journals,
which helped broaden the scope of my work.
After returning from on-site work, I spent four years in theTechnology Development Department (now the TechnicalResearch Laboratory of Yokogawa Bridge Holdings). There I
Tadami River Bridge on the Ban-etsu
Oigawa Bridge on the Shin-Tomei
learned techniques for simulating bridge behavior during
Expressway
Expressway
earthquakes using dynamic analysis and techniques for accurate(length: 311 meters)(length: 704 meters)
analysis of complex structure deformation and stress using FEM.
After my stint in the Technology Development Department,
Date
Career History
I served as manager of the Construction Department’s
Apr. 1990
Joined Yokogawa Bridge Works, Ltd.
Planning Section for two years. My main duties were
Assigned to Construction System Dept., Yokogawa
formulating erection plans and preparing construction plan
Oct. 1990
Techno-Information Service Inc.
documents.
Developing
erectionplans
requirescomprehensive consideration of safety, work processes, theOct. 1992 Bridge Design Section III, Design Dept., Yokogawa Bridge Corp.
surrounding environment, costs, and other factors, offering a
Section I, Tokyo Production Technology Dept., Yokogawa
Oct. 1994
great opportunity to hone my erection planning skills.
Bridge Corp.
In October 2010, the Technical Planning Office, where I
Assigned to Shin-Tomei Expressway Oigawa Bridge Westcurrently work, was established, and I was assigned as an
Apr. 1999
Construction Siteinitial member. I have remained here without transfer until
Section II, Technical Research Laboratory, Technology
now, a period of 13 years.
Apr. 2004
Development Dept., Yokogawa Bridge Corp.
As described above, I have experience in a wide variety ofdepartments. All the knowledge I gained has been invaluable.
Oct. 2008 Planning Section, Construction Dept., Yokogawa Bridge Corp.
Combining knowledge sparks new ideas and solutions, andTokyo Technical Planning Dept., Technical Planning Office,is useful in all kinds of situations. I intend to continue diligently
Oct. 2010 Yokogawa Bridge Corp.
to apply myself to daily tasks and gain more of this treasure(to the present)
called “knowledge.” Let’s all work hard together!

Case Study 1 Site visits

YBHD Group Profile

Strengthening of talent management68GovernanceCorporate Governance
Governance Structure

Basic Policies① Respecting shareholder rights and ensuring
meaningful shareholder equality.
② Striving to engage in appropriate consultation
with shareholders and other stakeholders.
③ Disclosing corporate information in an
appropriate manner and ensuring transparency.
④ Ensuring that the Board of Directors fulfills its
roles and responsibilities appropriately, andimplements transparent, responsive decisionmaking.

Holding Company (YBHD)

Recommendations,etc.

Nomination Advisory Committee
Remuneration Advisory Committee

Recommendations,etc.

Compliance

Recommendations,etc.

Instructions
and orders
ReportingManagement Committee

ReportingExecutive Officers

Compliance Risk Management
Committee
Reporting
Auditing

Consultation window

Accounts auditing
and reporting

Audit &
Supervisory Board
Reporting

Coordination

Audit Office

Operational departments
Internal auditing
Exercise of voting rights, operational management,
auditing, guidance, etc.

Accounts auditing and reporting
Seeking pre-approval of major decisions,
reporting, explanation, etc.

Operating companies (Yokogawa Bridge Corp., Yokogawa System Buildings Corp., etc.)
Shareholders Meeting

Executive Officers
Operational departments

Yokogawa Bridge Holdings Integrated Report 2023

Auditors

Board of Directors

The Board of Directors meets, in principle, on a monthly
basis to carry out decision-making in relation to Groupmanagement. The Board formulates the Group’s overall
operational strategy and plans, evaluates performance
implementation, reviews, and makes decisions regarding
important managerial matters at operating companies
and other important operational issues, and oversees
individual Directors’ fulfillment of their duties.
Three of YBHD’s Directors also serve concurrently as
the Presidents of Group operating companies. In addition,
four Presidents of Group operating companies who are
not YBHD Directors are present at YBHD Board meetings.
Furthermore, the Board’s three Outside Directors havethe status of independent corporate officers in accordancewith Tokyo Stock Exchange (TSE) regulations.

Management Committee

To help ensure that the company’s operations proceedsmoothly, the Management Committee, whose
membership comprises all Board members other than
Outside Directors, as well as the Standing Audit &Supervisory Board Members, Executive Officers, and thePresidents of operating companies, meets, in principle,

With the aim of strengthening the independence, objectivity,
and accountability of the functioning of the Board of
Directors in relation to the nomination of Representative
Directors, Directors, Members of the Audit & Supervisory
Board, and Executive Officers, based on consultation with
the Board of Directors, the Nomination Advisory Committee
deliberates nominations of candidates for the positions of
Director, Member of the Audit & Supervisory Board, andExecutive Officer and the appointment of Representative
Directors, Executive Directors, and Executive Officers aswell as matters relating to succession planning for the
President, and submits its views, reports, etc., to the Boardof Directors. The Remuneration Advisory Committee
consists of one Representative Director and three
independent Outside Directors.

Remuneration Advisory Committee

With the aim of strengthening the independence, objectivity,
and accountability of the functioning of the Board of
Directors in relation to matters relating to Directors’
remuneration, based on consultation with the Board of
Directors, the Remuneration Advisory Committee deliberates
and makes decisions relating to the remuneration, etc., of
Directors and Executive Officers, and submits its views,
reports, etc., to the Board of Directors. The Nomination
Advisory Committee consists of one Representative Director
and three independent Outside Directors.

Audit & Supervisory Board

The Audit & Supervisory Board, whose membershipcomprises two Standing Audit & Supervisory Board Members
and three Outside Audit & Supervisory Board Members, for a
total of five members, meets, in principle, once a month.
The Audit & Supervisory Board Members attend
important meetings, such as regular meetings to exchange
views with the Board of Directors, the Management
Committee, and the Representative Directors, andexchange information with the Audit Office (whichfunctions as the internal auditing department) and the
Financial Auditor, in order to develop a clear picture of thedecision-making process. They express their views whennecessary, and they receive reports on the current state ofoperational implementation, finance, compliance, internal
auditing, etc. Furthermore, the Audit & Supervisory
Board’s three Outside Audit & Supervisory Board Members
have the status of independent corporate officers incompliance with Tokyo Stock Exchange (TSE) regulations.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Compliance

Representative Directors

Financial Auditors(at some operating companies)

Board of Directors and Management Committee

69

Committees and meetings
related to governance

Sustainability Committee

ReportingInstructions
and orders

We have adopted an executive officer system to clearly
separate oversight from business operations, increase theflexibility and adaptability of business operations, andrespond quickly and flexibly to changes in the businessenvironment, while also reinforcing the Group’s governance.

Safety and Quality Committee

Financial Auditor

YBHD Code of Corporate Behavior

Representative
Directors

Under our current corporate governance system with a
Board of Directors including outside directors and an
Audit & Supervisory Board, we are able to make swift
and appropriate management decisions. In addition,
auditors, including outside auditors, audit the Board of
Directors’ decision-making process and the status of
duty execution by each director. We believe thatmanagerial decision-making and auditing are fully
functional under the current management system.

Nomination Advisory Committee

Striving to Help Realize a Sustainable Society

Appointment,
removal, andOversight

Appointment,
removal,and refusal ofreappointment

Appointment andremovalAppointment and removal
Views, reports, etc.

Reasons for choosing the current system

Executive officer system

Shareholders Meeting

Board of Directors

We operate as a corporate group under a holding
company system with YBHD as the holding company.
Regarding business operations, we receive prior approval
requests for important matters and periodic reports on
the status of business execution from each operatingcompany. By coordinating between operating companies
and exercising management control, we strive to develop
the Group and increase corporate value.

Corporate Value Enhancement Strategy⑤ Striving to engage in constructive dialog withshareholders regarding the company’s strategy
for long-term, stable growth.

Holding company systemonce a month, to receive and deliberate on reports
regarding important managerial matters at individual
operating companies and other important matters relating
to the implementation of business activities. Important
documents, including minutes of Management Committee
meetings, are distributed to Outside Directors andOutside Audit & Supervisory Board Members in order toprovide sufficient information to enable them to confirm
the current status of the company.

YBHD Group Profile

In line with our corporate philosophy of “Contribution tosociety and the public, and sound management,” the YBHDGroup aims to make a positive contribution to society bycarrying out “monozukuri” manufacturing with integrity andby providing high-quality, safe social infrastructure.
Utilizing the YBHD Group’s wealth of human talent andhigh-level technological capabilities to realize sustainablegrowth and enhance corporate value over the medium tolong term has won us the trust of our stakeholders. In
continuing to implement our corporate activities going
forward, while remaining aware of our responsibilities as agood corporate citizen, complying with laws, regulations,social norms, etc., and earning the trust of the people whowork for us, we will strive to make ourselves an enterprisethat helps people to live with safety and peace of mind. To
achieve this, we will work to enhance corporate
governance based on the five basic policies on the right.

70

GovernanceDirectors, Auditors, and Executive Officers

Skills Matrix
Skills, Experience, and Expertise
Name

Director & Managing Executive
Officer

3 Reiko Amano
Outside Director

4 Kazunori Kuromoto
Outside Director

5 Kazuya Kuwahara
Director & Executive Officer
President and Representative
Director, Yokogawa System Buildings
Corp.

Director & Managing Executive
OfficerPresident and Representative
Director, Yokogawa Techno-Information Service Inc.

Standing Audit & Supervisory Board
MemberPresident and Representative
Director, Yokogawa Bridge Corp.

15 Tomozo Yoshikawa

8 Yuzuru Nakamura

Outside Audit & Supervisory Board
MemberDirector & Executive Officer

Senior Managing Executive Officer

Outside Director

President and Representative
Director, Yokogawa New Life Corp.

Executive Officer
President and Representative
Director, Narasaki Seisakusyo
Co.,Ltd.

17 Masayuki Yukawa

Akihito Yoshida

Director & Executive Officer

Kazuya Kuwahara

Director & Executive Officer

Yuzuru Nakamura

Director & Executive Officer

Kazunori Kuromoto

Outside Director

Reiko Amano

Outside Director

Hidema Jinno

Outside Director

Ryogo Hirokawa

Standing Audit &Supervisory Board Member

Teruhiko Oshima

Standing Audit &Supervisory Board Member

Masashi Shishime

Outside Audit &Supervisory Board Member

Tomozo Yoshikawa

Outside Audit &Supervisory Board Member

Shoji Osaki

Outside Audit &Supervisory Board Member

Kiyotsugu Takagi

Senior Managing Executive
Officer

Hirohito Kaji

Executive Officer

Masayuki Yukawa

Executive Officer

Executive Officer

11 Shoji Osaki
Outside Audit & Supervisory
Board Member

13 Ryogo Hirokawa

Director & Managing
Executive Officer

President and Representative Director,
Yokogawa NS Engineering Corp.

10 Hirohito Kaji

Outside Audit & Supervisory
Board Member

Akira Kobayashi

R&D and DX

Safety, Quality& Production

16 Kiyotsugu Takagi

9 Hidema Jinno

12 Masashi Shishime

Director & Managing
Executive Officer

Sales &
Marketing

11

10
4

12
5
2

13

14

6

7
1

15
8

16

17

Data Section

6 Akira Kobayashi

14 Teruhiko Oshima

Director & Executive Officer

Hidenori Miyamoto

Human
Legal & Risk
Resources & Sustainability
Management
Labor

Striving to Help Realize a Sustainable Society

2 Hidenori Miyamoto

7 Akihito Yoshida

President andRepresentative Director

Finance &Accounting

Corporate Value Enhancement Strategy

President and Representative
Director

Kazuhiko Takata

Corporate
Management

YBHD Group Profile

1 Kazuhiko Takata

Position

93Standing Audit & Supervisory
Board Member

71

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

72

GovernanceAppointment of Directors and Audit & Supervisory Board Members

Our approach to appointing auditors

The Representative Director drafts a proposal, taking
into comprehensive consideration the capabilities,
character, health, and other qualities needed inmanagement executives. The Board of Directors thenmakes the final decision after receiving the views,
reports, etc., of the Nomination Advisory Committee,
which mainly consists of independent outside directors.

Taking into comprehensive consideration the capabilities,
character, health, and other qualities needed inmanagement auditors, appointments are ultimately
decided by the Board of Directors in light of opinions,etc., from the Audit & Supervisory Board.

Name and position

Apr. 1984 Joined Yokogawa Construction Co., Ltd. (currently Yokogawa Bridge Corp.)
June 2012 Director, Deputy General Manager of Tokyo Construction Headquarters and General Manager of Civil
Engineering Department of Yokogawa Construction Co., Ltd.
Oct. 2012 Director, in charge of Design Department, Planning and Estimation Department, and Construction
Department, Tokyo Branch of Yokogawa Construction Co., Ltd.
Oct. 2015 Director, Deputy General Manager of Bridge Construction Headquarters of Yokogawa Bridge Corp.
June 2019 Managing Director and General Manager, Tokyo Construction Division of Yokogawa Bridge Corp.
Apr. 2022 Executive Officer of the Company
Director, Executive Vice President, General Manager of Tokyo Construction Division and General
Manager of Overseas Business Dept. of Yokogawa Bridge Corp. (current position)
June 2023 Director and Executive Officer, in charge of Procurement Office and overall safety and quality
management of the Company (current position)

Yuzuru Nakamura has been involvedin the management of the Company
in the bridge business as Directorand Executive Vice President of aGroup company, and has a wealth ofexperience, achievements, andbroad knowledge of overallmanagement.

Apr. 1980 Joined Komatsu Ltd.
Apr. 2008 Executive Officer, and President of Construction Equipment Marketing Division, AHS Business Unit ofKomatsu Ltd.
Apr. 2012 Senior Executive Officer (Jomu), and President of ICT Business Unit of Komatsu Ltd.
June 2013 Director, Senior Executive Officer (Jomu), and President of Mining Business Unit and ICT Business Unitof Komatsu Ltd.
Apr. 2016 Director and Senior Executive Officer (Senmu) of Komatsu Ltd.
June 2018 Advisor of Komatsu Ltd. (current position)
Apr. 2020 Trustee, Kanazawa University, a national university corporation (part-time) (current position)
June 2020 Director of the Company (current position)

Kazunori Kuromoto has served in a
number of positions, including
Executive Officer of Komatsu Ltd.,during his career and has
considerable business experienceand extensive insight regarding
technology.

Apr. 1980 Joined Kajima Corporation
Mar. 2004 Visiting Professor, International Center for Urban Safety Engineering, Institute of Industrial Science, The
University of Tokyo
Apr. 2005 Senior manager of Technology Development Department, Civil Engineering Management Division ofKajima Corporation
Apr. 2011 General Manager of the Intellectual Property and License Department of Kajima Corporation
Feb. 2014 Advisor of the Intellectual Property and License Department of Kajima Corporation
Oct. 2014 Executive Director of Research Center for Reinforcement of Resilience Function, National ResearchInstitute for Earth Science and Disaster Resilience (Independent Administrative Agency) (currently
administered as National Research and Development Agency)
Apr. 2015 Auditor of the National Institute for Environmental Studies (National Research and )June 2016 Outside Director of East Japan Railway Agency (current position)
Sept. 2019 Auditor of Japan Atomic Energy Agency (National Research and Development Agency)
June 2021 Director of the Company (current position)
June 2023 Outside Director of Japan Post bank Co., Ltd. (current position)

Reiko Amano has served in a
number of important positions inKajima Corporation, National
Research Institute for Earth Scienceand Disaster Resilience, National
Institute for Environmental Studies,
and Japan Atomic Energy Agency,
and has considerable businessexperience and extensive insight
regarding technology.

Apr. 1985 Joined Sumitomo Marine &Fire Insurance Co., Ltd. (currently Mitsui Sumitomo Insurance Company,
Limited)Apr. 2015 Executive Officer, General Manager of Risk Management Dept. of MS&AD Insurance Group Holdings, Inc.
Apr. 2019 Executive Officer of MS&AD Insurance Group Holdings, Inc.
June 2019 Full-time Audit & Supervisory Board Member of MS&AD Insurance Group Holdings, Inc.
June 2023 Director of the Company (current position)

Hidema Jinno has served in a
number of positions, including
Executive Officer of MS&AD
Insurance Group Holdings, Inc. during
his career and has considerable
business experience and extensive
insight regarding technology.

Yuzuru Nakamura
Director & Executive
Officer

Appointment of Directors
Name and position

Kazuhiko Takata
President andRepresentative Director

Hidenori Miyamoto
Director & Managing
Executive Officer

Akira Kobayashi
Director & Managing
Executive Officer

Akihito Yoshida
Director & Executive
Officer

Director & Executive
Officer73

Reasons for appointment

Apr. 1985 Joined the Company
June 2011 Directors in charge of General Technology Research Laboratory of the Company
Director, Head of Design Center, Senior General Manager of Technology Headquarters, and in charge of
Safety and Quality Control Office of Yokogawa Bridge Corp.
June 2016 Managing Director, Senior General Manager of Operations Headquarters, General Manager of General
Affairs Division I, Senior General Manager of Technology Headquarters, and Head of Safety and Quality
Control Office of Yokogawa Bridge Corp.
Oct. 2017 Managing Director, Senior General Manager of Operations Headquarters, and Senior General Manager
of Technology Headquarters of Yokogawa Bridge Corp.
June 2018 President and Representative Director of Yokogawa Bridge Corp.
June 2020 President and Representative Director of the Company (current position)
President and Representative Director, and Executive Officer of Yokogawa Bridge Corp.
June 2022 Director of Yokogawa Bridge Corp. (current position)

Kazuhiko Takata has been involvedin the management of the bridgebusiness for many years as
President and Representative
Director of the Company, and has awealth of experience andachievements in technology andbroad knowledge of overallmanagement.

Apr. 1984 Joined the Company
June 2016 Director and General Manager of Accounting Division
Oct. 2018 Director, Head of Finance and IR Office, and in charge of Accounting Division
June 2020 Managing Director and in charge of Finance and IR Office, Accounting Division, and Information
Planning Office
Apr. 2021 Managing Director, Head of DX Promotion Office, and in charge of Finance and IR Office andAccounting Division
Apr. 2022 Director, Managing Executive Officer, Head of DX Promotion Office, and in charge of Finance and IR
Office and Accounting Division (current position)

Hidenori Miyamoto has been
involved in the management of theCompany in such Divisions as
accounting and finance for many
years as Director of the Company,and has a wealth of experience,achievements, and broad
knowledge of overall management.

Apr. 1982 Joined the Company
June 2014 Director and General Manager of Information System Division of Yokogawa New Life Corp.
June 2016 Director of Yokogawa Techno-Information Service Inc.
June 2017 Director of the Company
President and Representative Director of Yokogawa Techno-Information Service Inc.
June 2020 Representative Director, President and Executive Officer of Yokogawa Techno-Information Service Inc.
(current position)
Apr. 2021 Director and Head of Information Planning Office
Apr. 2023 Managing Executive Officer, Head of Information Planning Office, and in charge of Engineering
Management Office, General Technology Research Laboratory, New Business Development Office(current position)

Akira Kobayashi has been involvedin the management of the advanced
technology business for many years
as Director of the Company and
Representative Director, President,
and Executive Officer of a Group
company, and has a wealth ofexperience and achievements in
information processing and broad
knowledge of overall management.

Apr. 1987 Joined the Company
June 2016 Director and Senior General Manager of Design Headquarters of Yokogawa Bridge Corp.
June 2020 Director, Managing Executive Officer, Senior General Manager of General Affairs Headquarters, Senior
General Manager of Technology Headquarters, and in charge of Advanced Engineering Business
Division of Yokogawa Bridge Corp.
Apr. 2022 Executive Officer of the Company
Director and President, Executive Officer of Yokogawa Bridge Corp.
June 2022 Director and Executive Officer of the Company
President and Representative Director, and Executive Officer of Yokogawa Bridge Corp. (current position)
Apr. 2023 Director, Executive Officer, and in charge of the General Affairs Division of the Company (current position)

Akihito Yoshida has been involved in
the management of the bridgebusiness as Director of theCompany and Representative
Director, President and Executive
Officer of a Group company, and hasa wealth of experience,achievements, and broad
knowledge of overall management.

Apr. 1982 Joined the Company
June 2017 Director, Head of Audit Office and General Manager of General Affairs Division of Yokogawa TechnoInformation Service Inc.
June 2019 Managing Director of Yokogawa System Buildings Corp.
Apr. 2020 Managing Director and Head of ICT Promotion Office of Yokogawa System Buildings Corp.
June 2020 Director of the Company
Representative Director, President and Executive Officer of Yokogawa System Buildings Corp. (current
position)
Apr. 2022 Director and Executive Officer of the Company (current position)

Kazuya Kuwahara has been involvedin the management of theengineering-related business as
Director of the Company and
Representative Director, President
and Executive Officer of a Group
company, and has a wealth ofexperience, achievements, and broad
knowledge of overall management.

Yokogawa Bridge Holdings Integrated Report 2023

Kazunori Kuromoto
Outside Director

Reiko Amano
Outside Director

Hidema Jinno
Outside Director

Appointment of Audit & Supervisory Board Members
Name and position

Ryogo Hirokawa
Standing Audit & Supervisory
Board Member

Teruhiko Oshima
Standing Audit & Supervisory
Board Member

Masashi Shishime
Outside Audit & Supervisory
Board Member

Tomozo Yoshikawa
Outside Audit & Supervisory
Board Member

Shoji Osaki
Outside Audit & Supervisory
Board Member

Reasons for appointment
Ryogo Hirokawa has worked in important position in the Sales Division of the Group for many years and has broad knowledge of the overall business
operations of the Group. The Company, therefore, has appointed him in the expectation that he will utilize his knowledge and experience in strengthening
its auditing system.
Teruhiko Oshima has worked in important managerial positions of the Group for many years and has broad knowledge of overall management of theCompany. The Company, therefore, has appointed him in the expectation of his fulfillment of the role including strengthening its auditing system.
Masaki Shishime has profound knowledge about corporate legal matters. The Company, therefore, has appointed him in the expectation of his
fulfillment of the role including strengthening its auditing system.

Data Section

Kazuya Kuwahara

Career summary, significant concurrent positions outside the Company, and responsibilities in the Company

Striving to Help Realize a Sustainable Society

Reasons for appointment

Corporate Value Enhancement Strategy

Career summary, significant concurrent positions outside the Company, and responsibilities in the Company

YBHD Group Profile

Our approach to appointing directors

Tomozo Yoshikawa has held important positions over the years including those related to finance and corporate planning in Mizuho Bank, Ltd., inaddition to working in important managerial positions and serving as outside officer of other companies, and possesses considerable degree of insight
into finance and accounting and broad expertise in management in general. The Company, therefore, has appointed him, expecting that he will utilize
his expertise for strengthening the audit system of the Company.
Shoji Osaki has served as an Officer of Sapporo Breweries, Ltd. and as an outside officer of other companies, and has extensive knowledge ofmanagement in general, which can be utilized in strengthening the Company’s auditing systems.

Yokogawa Bridge Holdings Integrated Report 2023

74

GovernanceEfforts to improve the effectiveness of the Board of Directors

Process to confirm effectiveness

Future efforts

Each year, the company analyzes, evaluates, anddiscusses the effectiveness of the Board of Directors,
improving its functioning through the PDCA cycle.
In fiscal 2022, we administered a questionnaire survey
based on an advance interview with the President andquestions tailored to the company’s current situation.
The results, along with an analysis and evaluation by an
external evaluation organization, were reported to theBoard of Directors, which deliberated and considered
improvement measures.

• Continue and expand in-depth discussion on mediumto long-term sustainable growth strategies• Continue monitoring the Sixth Medium-Term
Management Plan
• Continually deliberate on matters related to Groupwide issues such as compliance, risk management,
R&D, procurement, safety/quality, and sustainability• Continue providing outside officers with informationthat deepens their understanding of our business andinvigorates Board discussions• Plan opportunities to facilitate communication andinformation sharing between outside directors andauditors, including outside auditors.
• Consider specific ways to further improve governanceeffectiveness

Summary of effectiveness evaluation results

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa holds shares in other companies (crossshareholdings) when doing so is deemed beneficial toincreasing the Group’s corporate value over the medium
and long term by maintaining and strengthening
business relationships and business alliances. On theother hand, we are working to reduce crossshareholdings through dialogue with the companies inwhich Yokogawa holds shares.
The Board of Directors annually reviews theappropriateness of holding each individual security,
including the possibility of selling it, by comprehensively
considering the necessity of holding the security,
investment efficiency, and other benefits and risks
associated with holding the security.

The remuneration received by the company’s Directors(excluding Outside Directors) comprises base remuneration(which is a fixed amount), annual incentive remuneration(performance-linked remuneration) linked to the company’s
performance in each fiscal year, and medium- to longterm incentive remuneration (non-monetary remuneration)that varies according to the level of achievement of thecompany’s performance targets over three fiscal years.
Regarding the share of overall company officer
remuneration in each category of remuneration, thestandard amount of the annual bonus per fiscal year foreach company officer position is set within a range of
19%–30% of base remuneration, and the basic amountof share-based remuneration granted annually for eachposition is set within a range of 23%–37% of baseremuneration. By raising the share of the overall
remuneration received by company officers in senior
positions for performance-linked remuneration and nonmonetary remuneration, the level of managerial
responsibility can be reflected in the remuneration
composition for each position. When deciding theseratios, remuneration benchmarking is performed eachyear using a management remuneration database
operated by an external remuneration consulting firm,taking companies of similar scale to YBHD as comparable
enterprises in order to verify the appropriateness of thedecision, including the remuneration levels.
The remuneration received by Outside Directors andby Audit & Supervisory Board Members consists solelyof base remuneration, in consideration of their roles.

Schematic diagram showing the share of overall remuneration for Directors (excluding Outside Directors) held by each category of remuneration
FY2023

FY2020

FY2021

No. of issues

Listed42

39

35

Listed16,342

13,58911,855Net sales

Fixed provision

Performance-linked

100

19–30

23–37

Fixed remuneration

Performance-linked remuneration(annual bonus)

Non-monetary remuneration(share-based remuneration)

Annual incentive remuneration

Base remuneration
100
Fixed remuneration

FY2022

Value on balance
sheet (million yen)

Operating income

FY2022

Number of issues and value on balance sheet of cross-shareholdings
Category

Annual incentive remuneration Medium- to long-term incentive remuneration

Base remuneration

Operating income

Medium- to long-term
incentive remuneration
Fixed provision

19–30
19–30
Performance-linked remuneration Non-monetary remuneration(annual bonus)(share-based remuneration)

Procedure
The policy for determining the remuneration, etc., ofindividual YBHD Directors is decided by the Board of
Directors based on deliberation and reports by the
Remuneration Advisory Committee, which is chaired by anindependent Outside Director and consists of a majority of
independent Outside Directors. When deciding on
remuneration, the company’s Remuneration Advisory
Committee deliberates appropriately on matters such as
the basic policy governing the officer remuneration system,

the remuneration system itself, the framework for
performance-linked remuneration, and the amounts paid
to individual company officers. Making effective use of
information collected by and advice received from external
remuneration consultants, the Committee’s deliberations
are based on objective, necessary, and sufficient
information regarding the recent status of officer
remuneration systems, key discussion trends, and trends
in other companies’ systems related to officer remuneration.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

The results confirmed that the Board of Directors is
considered effective regarding aspects such as its
discussions and composition. Praise was given for the
lively exchanges of opinions conducted openly andpromptly, directors and auditors fulfilling their respectiveroles and functions and participating in and contributing
to discussions, and improvements in operation of theBoard of Directors and committees, etc. As satisfaction
was generally high, the Board was deemed to havemaintained its effectiveness in terms of approving
important managerial matters and exercising appropriate
oversight of business execution.
On the other hand, issues going forward wereidentified as the need to continue and expand discussion
on medium- to long-term sustainable growth strategies
and to continue providing outside officers with more
information that invigorates Board discussions. We also
shared the recognition that continued consideration isimportant for further improving effectiveness of the

Policy on cross-shareholdings

Remuneration system

The company’s officer remuneration system is designed
based on the following principles 1 through 5:(1) The company officers remuneration system mustallow the appropriate rewarding of outstanding
management talent able to contribute towards thesustainable development of the company and longterm growth in corporate value.
(2) The company’s officer remuneration system must facilitate
the operation of a sound incentive function aimed at thecompany’s sustainable growth, which not only provides
motivation for the achievement of performance targets
but also supports the steady implementation of mediumterm management plans and further growth.
(3) The company’s officer remuneration system mustencourage the company’s management team to maintainan ongoing equity stake in the company, steadily
deepening a sustainable shared interest with shareholders
and enabling the realization of enhanced long-term trust.
(4) The company officers remuneration system must
provide support for encouraging the management
team to work together with the aim of enhancing thecompany’s sustainable corporate value and realizing
company-wide strategic objectives.
(5) As decisions relating to the company officers
remuneration system and determinations maderegarding its utilization must be made throughobjective, transparent procedures, such decisions
must be made following deliberation by an independent
Remuneration Advisory Committee and on the basisof the reports received from this Committee.

Striving to Help Realize a Sustainable Society(1) Board of Directors• Monitoring KPIs for the Sixth Medium-Term Plan
• Enhancing discussion on Group-wide topics such as
R&D structure, procurement, safety/quality, andsustainability(2) Outside the Board of Directors• Sharing recognition of management issues throughplanned reports from operating companies• Exchanging opinions between outside directors andmiddle managers / female employees

Basic Policies

Corporate Value Enhancement Strategy

Board of Directors, directors, and auditing bodies inareas such as speeding up business execution decisionmaking and strengthening the Board’s oversight ofmanagement.

YBHD Group Profile

The evaluation of Board effectiveness in fiscal 2022
confirmed, through the process below, that the Board of
Directors had maintained its effectiveness. The results
and future policy are as follows:

Efforts in fiscal 2022

75

Remuneration for Directors and Audit & Supervisory Board Members

76GovernanceOutside Director
Reiko Amano, Outside Director

Hidema Jinno, Outside Director

77

Yokogawa Bridge Holdings Integrated Report 2023

involved in operations, the mornings on days with Board
meetings are spent explaining documents beforehand tooutside officers and holding free discussion. This allows
outside officers to deepen their understanding of current
conditions and issues, enabling them to actively speak up in
the Board meetings held in the afternoon, elevating the qualityof discussion with their deeper comprehension of situations.
The meeting agendas and their manner of explanation are
also improved as needed based on the results of annual
evaluation of the effectiveness of the Board of Directors.
Despite social upheavals including the recent COVID-19
pandemic, YBHD has not reduced dividends once in the 16
years from fiscal 2008 to fiscal 2023, increasing them 13times during that period. I believe this steady track record ofcorporate performance is a testament to YBHD’s highsustainability capabilities. Large steel structures including
bridges will continue to be essential societal infrastructure,and I look forward to YBHD’s further development as acompany possessing the human talent and technologies tocontinually propose and take responsibility for delivering
optimal solutions for the next century’s challenges following
bridges, system structures, and tunnel segments.

I assumed the position of outside director at the June
2023 Shareholders’ Meeting. I was formerly an executive
at an insurance holding company. Although I spent mostof my career at a non-life insurance company and lackexperience in the civil engineering/construction industry, I
majored in civil engineering at university and have known
for a long time that YBHD is a top company with superior
technological prowess in the bridge field. I am therefore
deeply honored to have been appointed to this position.
Before my appointment, I read the company’s integrated
reports, securities reports, internal newsletters, and othermaterials to learn about the YBHD Group. After myappointment, I toured plants and construction sites andheard various things from officers and employees. Throughthis, I learned that YBHD values its corporate philosophy,
management vision, and roles, and focuses on building aresilient management foundation to realize them, while
also seriously addressing ESG. I strongly empathize withthe company cherishing people and technology andconsidering safety and quality most important.
On the other hand, I also learned that despite steady
performance and a clear growth strategy, the PBR is below
1. Improving the PBR is an important issue for the Board of

Directors. As an outside director, I hope to contribute to thecompany’s sustainable growth and medium- to long-term
enhancement of corporate value from the following stance:
1. Risk management for both defense and offense
At an insurance company and an insurance holding
company, I worked to enhance risk management andpromote ERM (Enterprise Risk Management, theintegrated management of risks, returns, and capital).
In addition to implementing measures to reduce risks
identified in light of future environmental changes, taking
risks through investments in businesses and developing
new technologies is necessary for growth. Whileconsidering the scale of risks and capital adequacy, I will
support proactive risk-taking.
2. Strengthening group governanceAt an insurance holding company with numerous
insurance companies in and outside Japan, I focused onenhancing group governance.
I will also actively engage in strengthening monitoring
capabilities as a holding company, demonstrating leadership,
and transforming the business portfolio for YBHD, which has
many subsidiaries conducting diverse businesses.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Bridge construction, the core of the YBHD Group,
involves building societal infrastructure that can withstanduse for up to 100 years. Accordingly, the Group’s own
management perspective also sincerely aims at longterm sustainability, with an eye toward the next 100 years.
Even as the COVID-19 pandemic subsides, the futureremains difficult to foresee, but I feel the hallmark of YBHD
appears in its daring to set management goals looking a
century ahead even under such circumstances.
At the heart of the YBHD Group, the leader in new bridge
construction in Japan, is a passionate desire to contribute tosociety through bridge infrastructure combined with theadvanced skills of each individual to realize that goal andsuperb management capabilities to bring those individuals
together. Just as more flexible organisms are more sustainable
than the strongest, an organization that can accurately
harness and manage talented individuals united by sharedideals can respond flexibly to changes in the environment.
In its decision-making, the Board of Directors makes
efforts to understand environmental changes through thediverse outside perspectives of Outside Directors andOutside Auditors. To facilitate effective discussion based on
detailed, meticulous real data with outside officers not directly

Hidema Jinno, Outside Director

Striving to Help Realize a Sustainable Society

Kazunori Kuromoto, Outside Director

Corporate Value Enhancement Strategy

Reiko Amano, Outside Director

development.
In the bridge business, the YBHD Group, which has aproven track record as a leading steel bridge company,
must steadily tackle the maintenance business, whose
relative importance will further increase going forward, in
addition to new construction. This is crucial not only for
the YBHD Group but also for the healthy life of people inJapan. Moreover, further honing the Group’s highcapability in restoring bridges after natural disasters will
enhance its value in society.
We must also grow the engineered structure systembusiness into a pillar supporting the YBHD Group’s nextstage of expansion, recognizing that the target is theprivate sector market, which differs from the infrastructure
market. Actively addressing new markets will also be
imperative.
As someone long involved in concrete bridge projects
at construction companies, I find it extremely meaningful
to participate in managing the YBHD Group, whichcenters on the bridge business, as an outside director. I
am determined to firmly provide support, including
promoting women’s advancement.

YBHD Group Profile

Kazunori Kuromoto, Outside Director

Japan currently faces an aging society with a declining
birth rate against the backdrop of increasingly severe
natural disasters and aging infrastructure. Moreover,social life, especially the flow of information, people, andgoods, has changed greatly due to the spread of
COVID-19.
In this situation, the importance of the role of the
YBHD Group, which upholds the corporate philosophyof “Contribution to society and the public, and soundmanagement,” will only increase.
Fiscal 2022 was the first year of the Sixth MediumTerm Management Plan. The core bridge business andengineered structure system business, among others,
steadily advanced their respective operations. Fromfiscal 2023 onward, it will of course be crucial to fully
implement the medium-term management plan, but wemust also do more to promote business management
looking further to the future.
To that end, we should further enhance the holding
company management structure to flexibly addressenvironmental changes while efficiently and aggressively
advancing the Group’s strength in technology

78

GovernanceRisk Management
Our approach to risk
management

Yokogawa Bridge Holdings Corp.

Proposition anddeliberation

Management Committee

Instructions andoversight

Proposition anddeliberation

Compliance Risk Management Committee[Chair: Executive officer]
Guidance, oversight,
and coordination(2) Reliance on public infrastructure projects

Measurement and reporting
Group companies

Risk Management Department

Improvement
measures(1) Initiatives to address safety risks relating toaccidents, etc.

(3) Risks relating to trends in the construction market
The system structures business is a key pillar of growth for
the YBHD Group. Orders from private-sector companies
account for the largest share of this business, so in the eventthat private-sector capital investment falls as a result of an
economic downturn in Japan or overseas, this would resultin a fall in the volume of orders received and in our sales
revenue, which could significantly impact our operational
performance. For this reason, we continually implement
measures to expand our sales network and reduce costs.

Risk management system(4) Risks relating to the regulatory framework
Although we conduct our business in accordance with
relevant laws such as the Construction Business Act andthe Antimonopoly Act, both within Japan and overseas, inthe event of a violation of such laws, we could be liable tocriminal penalties and administrative sanctions, which
would result in a fall in the volume of orders received andin our sales revenue, which in turn could significantly
impact our operational performance. To avoid this kind of
situation, the YBHD Group positions compliance as thefoundation for Group operation and is committed toengaging in business activities in an appropriate manner.

The YBHD Group has been expanding overseas, mainlyin the Asia region, including in the bridge business throughparticipation in Official Development Assistance (ODA)
projects. In addition, part of the design work for our bridgebusiness and system structure business is conducted byour subsidiaries in China and the Philippines. In the eventof a dramatic change in the political or economic situationin one of these countries, it might become difficult tocontinue operations, which could significantly impact ouroperational performance. In order to be prepared for thistype of risk, besides striving to put in place methods for
ensuring the safety of our employees and establishingcrisis management systems for use in emergencies, wehave also established backup systems for our operations(including our domestic operations), and we undertakeplanning to ensure effective coordination with theJapanese government, the local Japanese embassy inother countries, and other related parties, as necessary.

(7) Large-scale disaster risk
In the event of a large-scale natural disaster such as anearthquake, tsunami, or damage from storms or floods,
factories or work sites could suffer damage, which could
significantly impact our operational performance. In order
to be prepared for this type of risk and minimize negative
impacts, we have formulated business continuity plans,
and we implement training based on emergency scenarios.

Data Section

The Compliance and Risk Management Committee
established by YBHD’s Board of Directors monitors thestatus of risk management across the YBHD Group as awhole, conducts overall assessment and review as acorporate group, and reports to the Board of Directors.
While taking care to ensure comprehensive risk coverageand focusing on key risks, the Compliance and Risk
Management Committee monitors the implementation
status of measures and improvements targeting risks incoordination with the risk management departments ofGroup companies. Depending on the implementation status,
it may make proposals to back office departments and spur
improvements in countermeasures from an independent
perspective. It also shares information with committees andorganizations such as the Safety and Quality Committee,
Sustainability Committee, Technology Committee, andInformation Planning Office in an effort to build a risk
management system incorporating diverse perspectives.

(6) Country risk

Striving to Help Realize a Sustainable Society

The process of constructing steel structures such as
bridges can be broadly divided into three stages: fabrication
at the factory, transportation, and on-site construction
work. At each of these stages, the products that are being
handled are very large and heavy, and if an accident wereto occur, there is a risk that it could have a serious impact.
In the unlikely event of an accident, not only would theaccident cause direct damage, but it could also cause theGroup to lose social credibility and be subject to

The largest share of work in the bridge business, which is the
YBHD Group’s main business area, derives from tenders
awarded by central or local government authorities.
Consequently, a major change in societal infrastructure policy,
a dramatic worsening in government finances, or otherfactors, could significantly impact our operational performance,such as a decrease in the volume of orders received and in
our sales revenue, especially in the event of an unexpectedly
large fall in orders for new bridges in the future. To reduce thiskind of risk, we are aiming to maintain, expand, and optimize
our bridge business by strengthening the responsiveness ofour bridge maintenance business in combination with new
construction while also proceeding with diversification interms of our civil engineering business (particularly tunnel
segments) and our steel structures business. At the sametime, we are also working to expand the amount of business
we do with private companies, with a particular focus on
realizing growth in our system structures business.

According to our contracts, we are statutorily liable for
defects in steel structures constructed by the YBHD Group.
In the event that a defect is discovered for any reason, we
will take emergency measures to avoid any risk, regardlessof whether or not the customer makes a defect warranty
claim, and will focus on investigating the cause of the defectand preventing its recurrence. Thus, depending on theseriousness of the defect(s), there is a risk that YBHD could
incur significant costs in remedying the situation. To avoid
this kind of situation, as an enterprise entrusted with theconstruction of public assets, we are strongly aware of our
responsibility to provide high-quality products at areasonable cost, and in carrying out our business, we givepainstaking attention to quality management, etc.

Corporate Value Enhancement Strategy

Risk awarenessPreventive measures

Effective
Inadequate

No

Oversight

Key initiatives

Self-directed auditing flow

Yes

Coordination

Board of Directors(5) Responding to defects

YBHD Group Profile

We monitor the status of prevention and improvement forvarious risks concerning serious accidents, quality
issues, legal violations, etc. that could occur in businessactivities, and provide timely notification and confirmation,etc. at Board of Directors meetings. When an incident isreported, thorough instructions are provided on measures
to prevent recurrence. Additionally, by having all
departments in all Group companies periodically identify
risks in their own departments and audit the status of risk
management through self-audits, we reinforce Groupwide efforts to prevent the occurrence of risks that could
lead to losses and declining earnings.

Safety and Quality Committee
Sustainability Committee
Technology Committee
Information Planning Officeetc.

administrative penalties, such as suspension from bidding,from various ordering agencies, which could have a serious
impact on order receiving. To eliminate the danger ofserious accidents, we are working continually to enhancethe efficacy of our safety measures by disseminating casestudies of past incidents and accidents, improving
operational procedures, adopting innovative safety
equipment, creating dual layers of safety provision, putting
work monitoring on a systematic footing, etc.

Safety patrol
BCP training

79

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

80

GovernanceCompliance(8) Risk relating to default

Training on revised Whistleblower Protection Act

Compliance Risk Management Committee

Internal whistleblowing system

We established the Compliance Risk Management
Committee and have put in place a system whereby thecommittee deliberates basic policies and importantmatters relating to compliance promotion, and theresults of this deliberation are reported by the Compliance
Risk Management Committee to the Board of Directors.
Persons who violate the YBHD Code of Corporate
Behavior or who allow others to violate the Code will be
dealt with in accordance with the Companies Act orother relevant laws and with YBHD’s Employment Rules.

Internal auditing
With regard to the state of compliance with the YBHD Codeof Corporate Behavior and other internal rules, the Audit
Office (which has been established as an internal auditing
department independent of the company’s operational
departments), either acting on its own or in collaboration
with the auditing department of one or more Group operatingcompanies, implements efficient, effective auditing byperforming compliance auditing, including attending
meetings and verifying accounting slips, by performing selfdirected auditing of all Group departments, and byimplementing activities to promote the utilization of theinternal whistleblowing system and responding to reports
submitted through the whistleblowing system, etc. In
addition, the company strives to strengthen the organization
and authority of the Compliance Committee as necessary.

YBHD’s Directors promote the active utilization of the“Yellow Card System,” which is an internal whistleblowing
system that has been put in place for reporting andconsultation in relation to violations of relevant laws, thecompany’s Articles of Association, the YBHD Code ofCorporate Behavior, or internal rules, and in relation to
misconduct or other compliance issues, or the possibility
thereof. Improvements are made to the system asnecessary, and efforts are made to expand it. The
system is also included in compliance training, with theaim of spreading awareness of the system.
In fiscal 2022, we provided training on revisions to Japan’s
Whistleblower Protection Act and created opportunities fordeeper understanding of the act including the revisions.
職場のハラスメントに不正行為を指示されたけど、
これって、
違法かも？

悩んでいます。
やめてほしいけど・・・

どうしよう。

そうだ、
そうだん
だ。

打合せで不当な要求をされた。

このくらいならルール違反だけど許容範囲でしょ、とか言っている。
大丈夫かなあ。

見ないふり、
聞こえないふりはもうできない。
誰かに知ってほしい・・・

どうしたらいいだろう。
横河ブリッジホールディングスグループにはコンプライアンス遵守のためのイエローカード窓口があります。
ひとりで悩まずご相談ください。
あなたの勇気ある行動が会社を救います。
プライバシーを厳守し、通報 ・相談したことによる不利益を受けることはありません。

イエローカード窓口(10) Cybersecurity risk

81

Yokogawa Bridge Holdings Integrated Report 2023

※グループ各社人事担当課にはコンプライアンス相談窓口を設置しています。

MAIL

yellow@ybhd.co.jp

Poster promoting use of Yellow Card System

Fair business practices
Fair transactions

Meeting between Audit & Supervisory Board members and the Audit Office

The YBHD Group’s YBHD Code of Corporate Behavior
includes provisions that forbid, regardless of thecircumstances, behavior that violates the Antimonopoly
Act, such as cartels, bid-rigging, fixing the re-sale price, or
abusing a dominant position, and that specify the need toWhen implementing political contributions or donations tovarious organizations, the YBHD Group complies with relevantlaws such as the Public Offices Election Act and PoliticalFunds Control Act and ensures, in advance, that internal rules
such as the Rules Specifying the Scope of Authority arefollowed. Besides refusing to engage in bribery or illegal
political contributions, YBHD has also clearly stipulated that
employees must think carefully before engaging in any actions
that could be misconstrued as indicating excessively close
relations with politicians or government officials, andemployees must not entertain or offer gifts to government
officials or persons with equivalent status.
To ensure the effectiveness of these measures, we have
put in place an appropriate risk management system, and wehave been working to strengthen compliance and the related
education and training system; for example, through effective
utilization of the internal controls system, appropriate
operation of the Compliance Risk Management Committee,
and compilation of a manual outlining the rules to follow inrelation to election campaigns and a manual on the preventionof bribery involving foreign government officials, etc.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

To ensure that business operations are not interrupted in
the face of the sharp increase in cyberattacks, we devise
management countermeasures with reference tosecurity guidelines from Japan’s Ministry of Economy,
Trade and Industry and overseas organizations anddisseminate them across the Group. While thoroughlymanaging information assets, we have also introduced
cutting-edge security products to guard against
unauthorized access to our intranet and prevent
information leaks.

下記アドレスかQRコードよりご相談下さい。

Prevention of corruption

Striving to Help Realize a Sustainable Society

In the bridge business and the engineered structure
system business, we use steel, cement, and othermaterials that emit a large amount of CO2 during their
manufacture. CO2 emissions are also generated fromthe transportation of these raw materials and building
materials, and from the operation of heavy machinery
during construction. In addition, as requests forenvironmental consideration from local governments
and private-sector companies, which are our main
customers, are increasing year by year, we aredeveloping technologies such as low-carbon
construction methods and low-maintenance products,
and pursuing a 100% recycling rate for steel materials
throughout the Group. Given the characteristics of theGroup’s businesses, we are implementing appropriate
measures to counter risks including increased
construction and procurement costs due to tighter CO2
emissions regulations and introduction of carbon taxes,
lower labor productivity at construction sites due tochronic temperature increases, and supply chain
disruptions and damage to our own facilities due toincreased and more severe extreme weather events.

Compliance management system

Corporate Value Enhancement Strategy(9) Responding to the risk associated withclimate change and natural disasters

All persons working in the YBHD Group, in the course of
conducting corporate activities, are required to abide by
the YBHD Code of Corporate Behavior and are expected
to constantly be aware of their social responsibility andpublic mission. In order to win a high level of trust fromsociety, we comply with all relevant laws and regulations,both in Japan and overseas, and we behave as an ethicalenterprise that respects corporate ethics and social norms.

engage in free, faircompetition. We implement
thorough compliance with
relevantlaws
andregulations and perform
thorough management oftransaction records. Morespecifically, we implement
compliance education
through the formulation ofvarious types of manuals
Compliance education using
and rules and the provisione-learningof compliance training, andwe have the Audit Office implement audits and ensure theappropriate operation of the internal whistleblowing systemand strive to safeguard its efficacy.
In May 2005, Yokogawa Bridge was involved in a violationof the Antimonopoly Act relating to bid-rigging on bridge
construction, which attracted strong criticism from society
as a whole. The YBHD Group deeply regrets the occurrenceof such a serious incident. The incident brought home to us
the importance of compliance, and we have committed
ourselves to ensuring that no incident of this kind will occur
again in the future. Since then, we have worked to ensurecomprehensive implementation of the YBHD Code ofCorporate Behavior and to strengthen our internal auditing
system, putting in place the systems needed to ensure thatour business activities are in compliance with legal
requirements. Going forward, the YBHD Group will continue
to implement measures relating to compliance.

YBHD Group Profile

Although public-sector clients, where there is no risk ofdefault, account for the largest share of business in the
YBHD Group’s bridge business, which is the Group’s main
business area, in the civil engineering and precisionequipment businesses, most of the clients are privatesector companies. Therefore, there is a possibility of an
adverse impact on earnings, such as the need to record
bad debt losses or additional allowances, in the event that
unexpected default risk materializes due to concerns
regarding the creditworthiness of business partners. Before
engaging in a business transaction with a private-sector
company, the YBHD Group conducts thorough credit
checks, and we also allocate an allowance for doubtful
accounts in relation to accounts receivable.

Our approach to compliance82

Financial Information

Financial and Non-Financial Highlights(Items without notes are consolidated.)

Net sales / Operating profit / Operating margin

Equity / Equity ratio

CO2 emissions / CO2 emissions intensity*

Waste generation (steel) / Recycling rate

(Scopes 1 and 2 for bases and construction sites in Japan)

12,125 t

62.5

7.4

11.3

10.8

59.6
58.6

9.2%

9.3
138.1

136.9

136.0

164.9 billion yen

100

100

100%

8,162

10.5

12.8

15.9

14.7

2018

2019

2020

2021

107.7

7,424

114.3 billion yen

13,863

13,31820192020

15,503

10,749 t-CO2

6,267

15.2 billion yen
2022

2018

2019

2020

Shareholders’ equity

Operating income margin

2021

2022
2021

2022

2019

2020

2021

2022

Equity ratio
CO2 emissions

Waste generation (steel)

CO2 emissions intensity

Recycling rate

*CO₂ emissions per 100 million yen in sales

Net income attributable to owners of the parent
company / Return on equity
11.9
9.2

10.6

10.1%

Orders received

Number of employees / Percentage of female employees
189.6

15.6

156.9 billion yen

14.6
124.3

127.5

91.7

11.0

2.39%
158.1

153.2

10.4

11.2

Employment rate of persons with disabilities

11.2 billion yen

87.5

81.8 billion yen

65.0

71.3 billion yen

2021

2022

1,891

1,962

2,017

14.6

15.3%

1,800

2.21

2.23

2020

2021

1.99

69.4

Corporate Value Enhancement Strategy

Operating income

101.1
89.4

84.2

Net sales

100

9.8
6.5 t-CO2/100 million yen

56.3

141.9

58.8%

10.0

YBHD Group Profile

11.7

9.0
7.5

2019

2020

2022

2021

Net income attributable to owners of the parent company

51.1

57.1

2018

2019

2020

BridgeReturn on shareholders’ equity

Dividend per share / Earnings per share / Payout ratio

Engineering

Precision equipment

Capital investment / Total dividends

31.1%

217.61

267.54

Number of employees

2022

Fatal accidents / Accidents causing lost
worktime (four or more days lost)

Average overtime work hours per month

7
6
26.4
4

30.00

37.00

2018

2019

Dividend per share

75.00

2021

Earnings per share

Yokogawa Bridge Holdings Integrated Report 2023

Payout ratio

2020

2021

2022

4.7

85.00 yen2022

23.7 h6.0

3.4 billion yen

2020

23.4

2018

Data Section

1.5
1.2

52.00

23.1

2.1

7.6

17.0

2022

Employment rate of persons with disabilities

Percentage of female employees

3.1

10.1

2019

*Average for five operating companies

3.5 billion yen

273.36 yen

19.0

83

2021

*Including equity method affiliates

182.33

16.5

2020

7

28.0
273.092019

Striving to Help Realize a Sustainable Society

2018

57.3

2019

2020

Capital investment

2021
Total dividends

2022

0

0

0

0

2019

2020

2021

2022

Fatal accidents

Accidents causing lost worktime (four or more days lost)* Total for four operating companies involved in manufacturing

2019

Average overtime work hours per month* Average for five operating companies

Yokogawa Bridge Holdings Integrated Report 2023

84

Financial Information

Long-term financial results (ten years)(100 million yen)

2015

2016

2017

2018

2019

2020

2021

2022

Net sales

882

1,027

1,057

1,134

1,310

1,419

1,381

1,360

1,369

1,649

Operating income

65

64

69

80

137

105

128

159

147

152

Operating income margin (%)

7.4

6.2

6.5

7.1

10.5

7.4

9.3

11.7

10.8

9.2

Ordinary income

65

66

69

81

138

106

129

160

149

154

Net income attributable to owners of the parent company

42

42

43

43

93

75

90

112

110

112

Net assets

595

641

655

698

806

865

920

1,039

1,107

1,176

Total assets

1,040

1,167

1,149

1,281

1,449

1,496

1,525

1,696

1,725

1,944

Net assets per share (yen)1,370.27

1,485.09

1,532.44

1,650.17

1,907.50

2,037.61

2,159.88

2,451.96

2,608.54

2,794.45

Net income per share (yen)

99.50

98.40

103.19102.98226.93

182.33217.61273.09267.54273.36

4

5

6

6

9

12

15

21

31

35

Dividend (yen/share)

11.00

14.00

16.00

16.00

22.00

30.00

37.00

52.00

75.00

85.00

Dividend payout ratio (%)

11.1

14.2

15.5

15.5

9.7

16.5

17.0

19.0

28.0

31.1

Return on shareholders’ equity (%)

7.7

6.9

6.9

6.5

12.8

9.2

10.4

11.9

10.6

10.1

Shareholders’ equity

587

631

643

683

788

842

894

1,011

1,077

1,143

Shareholders’ equity ratio (%)

56.5

54.1

56.0

53.3

54.4

56.3

58.6

59.6

62.5

58.8

Capital expenditure

11

16

24

33

73

76

101

60

47

34

Depreciation and amortization

13

13

15

16

17

21

28

34

36

38

R&D expenses

2

3

3

2

2

2

4

4

4

5

1,567

1,626

1,649

1,663

1,687

1,749

1,800

1,891

1,940

1,996

Bridge business

586

693

684

650

739

733

812

824

764

870

Engineering business

261

300

339

428

509

633

529

483

544

729

Precision equipment business

25

25

26

47

53

44

32

46

54

43

Real estate business

8

7

7

7

7

6

6

6

6

6

Bridge business

42

43

46

38

85

60

83

114

110

89

Engineering business

23

22

26

40

48

43

48

45

37

67

Precision equipment business

4

3

4

7

9

8

4

9

11

6

Real estate business

4

3

3

3

3

4

4

3

2

3

Bridge business

720

532

795

622

832

917

694

1,275

875

818

Engineering business

290

469

423

463

603

573

511

571

650

713

Precision equipment business

22

25

30

52

51

41

37

49

55

37

Total dividends

Number of employees (persons)

Corporate Value Enhancement Strategy

2014

YBHD Group Profile

2013

FY

Segment information

Operating income

Striving to Help Realize a Sustainable Society

Net sales

Order balance

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

85

86

Financial Information

Consolidated financial statements, etc.
(1) Consolidated balance sheet(2) Consolidated statement of income and consolidated statement of comprehensive income(Unit: million yen)Previous fiscal year
(March 31, 2022)

25,143

Net sales

136,931

164,968

101,026

Cost of sales

112,743

139,496

Gross profit

24,18825,472

Selling, general, and administrative expenses

9,435

10,254

Operating income

14,752

15,218

3,562
4,011
(7)
109,363

3,745
3,440
(0)
133,354

Interest income

62

14,523
8,637
15,143554
596
39,456

14,497
8,274
15,14394596
38,607

Dividends income

294

324

Insurance income and dividends received

49

55

Equity in investment revenue of affiliates

76

66

Foreign exchange gains

41

69

Other

106

44

2,091
54
2,145

2,405
48
2,454

Total non-operating income

575

563

Interest expense

73

112

Commitment fee

103

79

Group term insurance premiums

69

69

Prepayment of guarantee fee

60

32

Other

25

34

Total non-operating expenses

332

329

14,995

15,452

1,310

1,135

14,505
474
6,212
391
21,58363,186
172,549

12,771
539
6,247
482
20,04061,101
194,456

Non-operating income

Non-operating expenses

Ordinary income
Extraordinary income
Gain on sales of investment securities

1

8

1,312

1,144

Loss on disposal of non-current assets

38

69

Other

－

0

Total extraordinary loss

38

69

26,343

Other

－
2,300
6,200
2,341

9,141
300
500
2,749

Total extraordinary income

3,365

2,453

3,848
2,757
166
3,107
45,914

3,777
2,640
205
2,548
50,660

Income before income taxes

16,26916,527

Corporate, inhabitant, and enterprise taxes

4,899

4,816

300
619
1,603
70
74
139
12,237798
15,84361,758

3,100
8,400
1,409
70
69
193
12,333567
26,14376,803

9,435
10,29987,488(3,872)
103,351

9,435
9,150
94,371(2,465)
110,491

4,273
159
4,432
3,007
110,791
172,549

3,649
159
3,809
3,352
117,653
194,456

21,827Extraordinary loss

Deferred income taxes

63

46

Total corporate tax

4,962

4,862

Net income

11,306

11,665

Net income attributable to non-controlling interests
Net income attributable to owners of the parent company

262

421

11,043

11,243(Unit: million yen)

Consolidated statements of comprehensive incomePrevious fiscal year
(From April 1, 2021,
to March 31, 2022)
Net income

Current fiscal year
(From April 1, 2022,
to March 31, 2023)

11,306

11,665

Other comprehensive income
Valuation difference on available-for-sale securities(1,837)(623)

Total other comprehensive income(1,837)

(623)

9,469

11,041

Comprehensive income attributable to owners of theparent company

9,206

10,620Comprehensive income attributable to non-controllinginterests

262

421

Comprehensive income
Total comprehensive income attributable to:

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Yokogawa Bridge Holdings Integrated Report 2023

Current fiscal year
(From April 1, 2022,
to March 31, 2023)

Striving to Help Realize a Sustainable Society

87

78,337

Previous fiscal year
(From April 1, 2021,
to March 31, 2022)

Corporate Value Enhancement Strategy

Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts, and other
Short-term borrowings
Current portion of bonds
Current portion of long-term borrowings
Income taxes payable, etc.
Advances received on uncompleted construction
contracts
Provision for losses on construction contracts
Provision for bonuses
Other reserves
Other
Total current liabilities
Fixed liabilities
Corporate bonds
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Allowance for executives’ retirement benefits
Allowance for stock-based compensation
Retirement benefit liability
Other
Total fixed liabilities
Total liabilities
Net assets
Shareholders’ equity
CapitalCapital surplus
Retained earnings
Treasury shares
Total shareholder’s equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for land
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

23,458(Unit: million yen)

Consolidated statement of income

YBHD Group Profile

AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed
construction contracts, and other
Inventory
Other
Allowance for doubtful accounts
Total current assets
Fixed assets
Property, plant, and equipment
Buildings and structures, net
Machinery, equipment, and vehicles, net
LandConstruction in progress
Other, net
Total property, plant, and equipment
Intangible fixed assets
Software
Other
Total intangible fixed assets
Investments and other assets
Investment securities
Shares of affiliates
Deferred tax assets
Other
Total investments and other assets
Total fixed assets
Total assets

Current fiscal year
(March 31, 2023)

88

Financial Information

Consolidated financial statements, etc.
(3)Consolidated statement of changes in shareholders’ equity(4) Consolidated statement of cash flows(Unit: million yen)Previous fiscal year (from Thursday, April 1, 2021, to Thursday, March 31, 2022) (Unit: million yen)Previous fiscal year
(from April 1, 2021,
to March 31, 2022)

Shareholders’ equity
Capital10,185

79,140Treasury shares(3,900)(1)
9,435

10,185

79,139(1)(3,900)(2,694)

－
9,435

114
10,299

Accumulated other comprehensive income
Valuation difference
Total accumulated
Revaluation reserveon available-for-saleother comprehensive
for landsecurities
income
6,110
159
6,269

6,110

159

11,043
(180)
209

8,349
87,4886,269

94,859(2,694)

11,043114

Total shareholder’sequity94,860

(180)
323

28
(3,872)

8,491
103,351

Non-controllinginterests

Total net assets

2,815

103,945

(0)

(1)

2,815

103,944(2,694)
11,043(180)
323(1,837)－(1,837)

191(1,645)(1,837)
4,273

－
159

(1,837)
4,432

191
3,007

6,846
110,791

Shareholders’ equity
CapitalBalance at the beginning of the current period
Changes of items during period
Dividends of surplus
Net income attributable to owners of
the parent company
Acquisition of treasury shares
Disposal of treasury stock
Cancellation of treasury shares
Transfer from retained earnings to capital surplus
Net changes of items other thanshareholders’ equity
Total changes during period
Balance at the end of the period

89

Yokogawa Bridge Holdings Integrated Report 2023

10,299Retained earnings
87,488－9,435(1,149)9,150(3,872)

Total shareholder’sequity103,351(3,311)(3,311)

11,243

11,243(1,250)
335
2,321

123
(2,321)
1,048

Treasury shares－(1,048)

6,883
94,371

Accumulated other comprehensive income
Valuation difference
Total accumulated
Revaluation reserveon available-for-saleother comprehensive
for landsecurities
income
4,273
159
4,432

(1,250)
458
－

1,406
(2,465)

7,139
110,491

16,26916,527

Depreciation and amortization

3,670

3,879

Increase (decrease) in retirement benefit liability

271

79

Increase (decrease) in allowance for executives’ retirement benefits

139

(5)

Increase (decrease) in allowance for stock-based compensation

48

53

Increase (decrease) in provision for loss on construction contracts

(328)

(71)

Increase (decrease) in provision for bonuses

115

(116)

Increase (decrease) in other provisions

7

32

Interest and dividend income received

(301)

(327)

Interest expense
Loss (gain) on sales of investment securities

73

112

(1,310)(1,135)

Loss (gain) on sales of property, plant, and equipment

(1)

(0)

Loss on disposal of fixed assets

1865

Non-cash portion of other income and expenses, etc. (net)Decrease (increase) in notes receivable, accounts receivablefrom completed construction contracts and other
Decrease (increase) in costs on uncompleted construction
contracts and work in process
Decrease (increase) in accounts receivable-other
Increase (decrease) in notes payable, accounts payable forconstruction contracts and other
Increase (decrease) in advances received on uncompleted
construction contracts
Increase (decrease) in accounts payable-other
Increase (decrease) in deposits received
Increase (decrease) in accrued consumption tax, etc.

(66)

(146)

1,771

(22,689)

(379)

642

(525)

(317)

5,496

4,515

1,111

(912)

(46)

15

(573)

142

(411)

(420)

Increase (decrease) in other assets and liabilities(1,790)(65)

Subtotal

23,259(142)

Interest and dividends received

302

328

Interest expenses paid

(72)

(112)

Income taxes, etc., paid

(6,415)(4,423)

Cash flow from operating activities

17,074(4,350)(3,738)(2,794)

Cash flows from investing activities
Purchase of property, plant, and equipment
Proceeds from sales of property, plant, and equipment
Purchases of intangible fixed assets

38(1,170)(984)

Expenditures on the purchase of investment securities

(154)

(3)

Proceeds from sales of investment securities

1,590

1,971

Other expenditures

(31)

(136)

Other proceeds

27

94(3,474)(1,844)(4,000)9,141Cash flow from investing activities
Cash flows from financing activities

Non-controllinginterests
3,007

Net increase (decrease) in short-term loans payable
Total net assets
110,791(3,311)
11,243(1,250)
458
－
－

(623)

－

(623)

345

(277)

(623)
3,649

－
159

(623)
3,809

345
3,352

6,861
117,653

Proceeds from long-term borrowings
Repayments of long-term debt

－

8,400

(3,165)(6,319)Proceeds from the issuance of bonds

－

3,100

Payments for the redemption of bonds－(2,300)

Payments for the purchase of treasury stock(180)(1,250)

Proceeds from sales of treasury stock

323

458

(2,685)(3,302)

Dividends paid
Dividends paid to non-controlling interests
Cash flow from financing activities
Foreign currency translation adjustments on cash and cash equivalents

(70)

(76)

(9,779)

7,850

45

28

Net increase (decrease) in cash and cash equivalents

3,866

1,684

Cash and cash equivalents at the beginning of the period

19,592

23,458Cash and cash equivalents at the end of the period

23,45825,143
Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Balance at the beginning of the current period
Changes of items during period
Dividends of surplus
Net income attributable to owners of
the parent company
Acquisition of treasury shares
Disposal of treasury stock
Cancellation of treasury shares
Transfer from retained earnings tocapital surplus
Net changes of items other thanshareholders’ equity
Total changes during period
Balance at the end of the period

9,435

Capital surplus

Income before income taxes

Striving to Help Realize a Sustainable Society(Unit: million yen)

Current fiscal year (from April 1, 2022 to March 31, 2023)

Cash flows from operating activities

Corporate Value Enhancement Strategy

Balance at the beginning of the current period
Cumulative effects of changes inaccounting policies
Restated balance
Changes of items during period
Dividends of surplus
Net income attributable to owners of
the parent company
Acquisition of treasury shares
Disposal of treasury stock
Net changes of items other thanshareholders’ equity
Total changes during period
Balance at the end of the period

9,435

Retained earnings

YBHD Group Profile

Balance at the beginning of the current period
Cumulative effects of changes inaccounting policies
Restated balance
Changes of items during period
Dividends of surplus
Net income attributable to owners of
the parent company
Acquisition of treasury shares
Disposal of treasury stock
Net changes of items other thanshareholders’ equity
Total changes during period
Balance at the end of the period

Capital surplus

Current fiscal year
(from April 1, 2022,
to March 31, 2023)

90

Location Information

List of Group Companies

Please see our website for details.

This was the “monozukuri” approach to manufacturing espoused by our founder,
Dr. Tamisuke Yokogawa, which has been handed down and maintained in ourcompany for over a century.
This philosophy, which extends throughout the YBHD Group, helps to strengthencohesion while also driving YBHD to create even better products and market themOverseas businessCompany History
1907 Dr. Tamisuke Yokogawa founded Yokogawa Bridge Works in Nishi-ku,
Osaka City. The Osaka Plant was established (closed in 1943)
1918 Yokogawa Bridge Works was reorganized as a joint-stock company.
1922 The new Tokyo Plant was established in the Shibaura district of Tokyo(closed in 1969).
1964 The Osaka Branch was established, and the Osaka Plant began operation.
1969 The Tokyo Branch was established, and the Chiba Plant began operation(closed in 1999).
1991 Yokogawa Bridge Works Ltd. was renamed Yokogawa Bridge Corp.
2005 The Bridge Stage Izumi Plant, located in Izumi City, Osaka Prefecture, began operation.
2007 Yokogawa Bridge Holdings Corp. was established.
2007 Yokogawa Bridge Corp. became a wholly owned subsidiary of Yokogawa
Bridge Holdings Corp.
2007 A ceremony was held to commemorate the 100th anniversary of thecompany’s founding.
2019 The Kishiwada Plant was established in Kishiwada City, Osaka Prefecture.

Maintenance business

By expanding our domestic and international business network, we are contributing
to the improvement of societal infrastructure on a global scale.

Yokogawa Bridge Holdings Corp. (YBHD) came into being in August 2007 with the aim of integrating the YBHD Group’s
multi-faceted capabilities in a flexible manner and making a substantial contribution to society. YBHD responds tocustomers’ diverse needs through our extensive domestic and international networks.

Main domestic business locations
Sales Offices

Muroran City,
Hokkaido

Sapporo City,
Hokkaido

Kamisu City,
Ibaraki Prefecture

Sendai City,
Miyagi Prefecture

Minato-ku,
Tokyo

Takasaki City,
Gunma Prefecture

Funabashi City,
Chiba Prefecture

Nagoya City,
Aichi Prefecture

Sakai City,
Osaka Prefecture

Osaka City,
Osaka Prefecture

Main overseas business locations
Okayama City,
Okayama Prefecture
Hiroshima City,
Hiroshima Prefecture
Fukuoka City,
Fukuoka Prefecture
Naha City,
Okinawa Prefecture

Amagasaki City,
Hyogo Prefecture

91

Yokogawa Bridge Holdings Integrated Report 2023

PlantsMuroran Plant (Hokkaido)
Shukutsu Plant (Hokkaido)
Kashima Plant (Ibaraki Prefecture)
Chiba Plant (Chiba Prefecture)
Mobara Plant (Chiba Prefecture)
Osaka Plant (Osaka Prefecture)
Izumi Plant (Osaka Prefecture)
Kishiwada Plant (Osaka Prefecture)

The Philippines

Equipment Centers
Hokkaido Equipment Center (Hokkaido)
Tone Equipment Center (Ibaraki Prefecture)
Harima Equipment Center (Hyogo Prefecture)

Myanmar

Pasig City
Yokogawa Techno Philippines, Inc.
Vietnam

Yokogawa System Buildings Corp. was launched around a corebusiness of engineered structures based on a new style of building.
Under the brand name Yokogawa Engineered Structure System(“yess”), the company has been involved in the construction of over
10,000 buildings throughout Japan. What makes “yess” special is that
Yokogawa System Buildings Corp. has Japan’s only dedicatedengineered structure factory and a network of more than 1,300 sales
and construction agents (builders) throughout Japan, thus enabling
the company to rapidly supply high-quality products to any location.
These structures are used in a wide variety of applications, fromfactories, warehouses, and shops, to offices, sports facilities, and final
disposal sites. In its special-purpose buildings business, Yokogawa
System Buildings Corp. has been a pioneer in retractable roofs for

Hanoi City
Hanoi Office

Engineered structure system businessswimming pools, stadiums, etc., thereby providing total integrated
solutions for movable buildings that includes design, installation, andmaintenance. In the future, Yokogawa System Buildings Corp. willcontinue striving to realize further enhancements in the quality of its
products and services; satisfying customer needs with an approachthat emphasizes integrity while contributing to society.

Company History
1989 An engineered structure division, the forerunner of today’s Yokogawa
System Buildings Corp., was established within Yokogawa Bridge Works(now Yokogawa Bridge Corp.)
1990 The Sodegaura Plant (now the Chiba Plant) was established.
2001 The division was spun off from Yokogawa Bridge Corp. It began operation
as a separate company under the name Yokogawa System Buildings Corp.
2006 The facilities of the Chiba Plant were improved.
2008 The company acquired general appraisal certification from The Building
Center of Japan (BCJ).
2019 The Mobara Plant was established.
2020 Expansion of painting/shipping yard building at Mobara Plant

Special structures business

Data Section

Branches

Yokogawa Engineered Structure System (“yess”)
buildings, which make effective use of Yokogawa’s
unique steel structure technology, hold the highest
share of the engineered structure market.

Striving to Help Realize a Sustainable Society

Please see our website for details.

Corporate Value Enhancement Strategy

not only in Japan, but throughout the world.

Founded in 1907, Yokogawa Bridge Corp. has played an importantrole in improving social infrastructure – including bridge construction,
both within and outside Japan, and the manufacture of steel structures.
Today, Yokogawa Bridge Corp. operates as an integrated generalengineering company, offering total solutions that encompass every
stage from design through to installation, repair and reinforcement,
rebuilding, and renewal. The company is focused on the new bridge
construction business, the bridge maintenance business (demand forwhich is forecasted to increase significantly), and the expressway
large-scale upgrading and large-scale repair business. Other businessareas include the construction of special-purpose buildings, such as
high-rise buildings, domes, etc., the construction of large, highprecision structures using ultra-precise finishing technology, and thedevelopment of products that help to enhance the maintenance ofexisting bridges. In overseas markets, Yokogawa Bridge Corp. isfocused on improving infrastructure in regions with significant growthpotential, such as Africa and Southeast Asia.

YBHD Group Profile“Embody integrity! Create outstanding things!”

A long-standing contribution to social andeconomic development through the improvement
and maintenance of social infrastructure

Yangon City
Yangon Branch

Research Facilities
Technical Research Laboratory (Chiba Prefecture)

Yokogawa Bridge Holdings Integrated Report 2023

92

List of Group Companies

Please see our website for details.

Industry-leading comprehensive capabilities that
extend from materials development, design, andmanufacturing through to installation

1977 Founded as the Engineering Division of Sumitomo Metal Industries (nowNippon Steel Corporation).
1989 B egan operation in the Kashima Works as the Kashima Bridge Girder Factory.
1999 The new Kashima Bridge Girder Factory was established in Kamisu City,
Ibaraki Prefecture.
2009 Sumitomo Metal Industries’ bridge business was spun off and absorbed
into Sumikin Bridge Co., Ltd.
2009 Sumikin Bridge Co., Ltd. was renamed Yokogawa Sumikin Bridge Corp. toserve as a joint operating company for Yokogawa Bridge Holdings Corp.
and Sumitomo Metal Industries.
2019 Y okogawa Sumikin Bridge Corp. was renamed Yokogawa NS Engineering Corp.

Underground structures – steel segments

Since its founding in 1984, Yokogawa Techno-Information Service
Inc. has focused on the development and sale of IT systems forthe civil engineering and construction sector and the provision of
information processing services. The application of information
technology to the civil engineering and construction sector began
in the 1970s with the adoption of CAD systems, progressed with
the introduction of construction CALS systems in the 1990s, andcontinued through to the recent adoption of CIM and i-Construction.
Yokogawa Techno-Information Service Inc. has kept pace withthese developments and has continued to evolve while striving tostay one step ahead. The company’s series of information systems
for use in the design and manufacture of steel structures, with a
specific focus on bridges, are favored by many users.

Steel bridge design

Structural analysis

Provision of a comprehensive range of services
relating to steel bridge design

Using our wealth of experience and superior
technological capabilities to assist withstructural analysis

Yokogawa Techno-Information Service Inc. provides a wide rangeof systems and services associated with steel bridge design,
including preliminary design, detailed design, and reconstruction
design. These products and services have proved very popularwith architectural consultants, bridge manufacturers, and othercustomers involved in bridge design.

Aiming to use our advanced technologicalcapabilities to create bridges that satisfy
local communities and develop products tomeet diverse needs
Founded in 1935 as a shipbuilding firm, Narasaki Seisakusyo
Corp. used shipbuilding technology as a foundation for growing
into a specialist manufacturer of steel bridges and machinery
products (including steel tubes, ship-lifting equipment, water
gates, water treatment facilities, etc.) and has expanded its
business activities throughout Japan, with a focus on Hokkaido
and the Tohoku region. Going forward, Narasaki Seisakusyo Corp.
will strive to further enhance technology, safety, and quality in its
bridge business, while continuing to expand its business
operations as a leading Hokkaido-based company. In the93

Yokogawa Bridge Holdings Integrated Report 2023

Water treatment
and environmental
products (thickener)

Company History
1935 Narasaki Shipbuilding Ltd. was founded in Tsukiji-cho, Muroran City.
1975 The Sakimori Plant began operation.
1984 Yokogawa Bridge Works Ltd. was renamed Yokogawa Bridge Corp.
1986 The company’s head office moved to its current location in Sakimori-cho,
Muroran City.
2003 N arasaki Seisakusyo Co., Ltd. became a subsidiary of Yokogawa Bridge Corp.
2018 The new head office building was completed.

Ship-lifting equipment

Putting in place powerful support systems
for all Group companies
Yokogawa New Life Corp. provides high-quality back-officesolutions for the YBHD Group, including real estate property
management, human resource assignment, and salary calculation.

Real estate property management
Yokogawa New Life Corp. helps the YBHD Group to achieve
stable earnings by playing an active role in the Group’s real estate
strategy in relation to the operational management of real estate
owned and leased by the Group.

Human resources assignment
We utilize our high-level recruitment capabilities to provide humantalent throughout Japan, both within and outside the Group. To
respond effectively to the rapid pace of change in today’s businessworld, we provide powerful support for staff skill enhancement andaim to provide companies with human talent that matches theirneeds.

Salary calculation operations
Yokogawa New Life Corp. undertakes salary calculation on behalfof all YBHD Group companies, thereby helping to reduce theburden on individual Group companies HR departments, andhelping to enhance operational efficiency by allowing them tofocus on their core competencies.

Yokogawa Bridge Holdings Integrated Report 2023

Data Section

Constructionwastewater treatment
facility (filter press)

machinery steel sector, the company will further refine its original
products – including ship-lifting equipment and water treatment
facilities – and will actively work to respond to diversifying needs ona nationwide basis.

Please see our website for details.

Striving to Help Realize a Sustainable Society

Please see our website for details.

We provide high-quality services covering everything from modelbuilding tailored to customers’ needs to the creation of reports. We
are able to assist with structural analysis for steel bridges and also
in other fields.

Corporate Value Enhancement Strategy

Bridge businessCompany History

Bridge expertise combined with IT expertise

YBHD Group Profile

Yokogawa NS Engineering Corp. was established as anengineering company that would combine the technology solution
capabilities of Yokogawa Bridge Holdings Corp. with the productdevelopment and production capabilities of Sumitomo Metal
Industries (now Nippon Steel Corporation). By making full use of
the operational assets of these two industry-leading companies,
Yokogawa NS Engineering Corp. has been able to build an
unrivalled high-level business framework that covers everythingfrom materials development to design, manufacturing, andinstallation. Through bridge construction and related products,
steel segments for road tunnels and other underground structures,harbor structures utilizing the jacket method, etc., Yokogawa NS

Engineering Corp. contributes to the construction of resilient
infrastructures in Japan with its advanced technology development
capabilities, high productivity, and solid cost competitiveness.

Please see our website for details.

94

List of Group Companies

Please see our website for details.

Providing support for various aspects ofbridge preservation as a team that offers
specialist expertise in safeguarding bridges

As of March 31, 2023

Inspections, surveys, and diagnostic
operations
Company name

Yokogawa Bridge Holdings Corp.

Address

4-4-44 Shibaura, Minato-ku, Tokyo 108-0023, Japan

Established

August 2007

Capital

9.4 billion yen

Design, analysis, and review operations

Number of employees

1,996 (consolidated)

With the goal of extending the lifespan of existing bridges andother structures, we conduct a wide range of planning and design
work, from repair and reinforcement design as well as seismic
reinforcement design aimed at improving earthquake resistanceto large-scale renewal planning and preventive measure planning.
We also undertake the 3D finite element analysis and time history
response analysis that this design work requires.

Stock exchange listing

Prime Market of the Tokyo Stock Exchange Securities Code 5911

Administrator of Shareholder Registry

Sumitomo Mitsui Trust Bank, Limited

Testing and measurement operations
In order to verify planning and designs and put newtechnologies into practical use, we implement laboratory
testing using Group facilities and also perform on-site load
testing and other related tasks. We also provide measurement
services such as long-term remote monitoring via the Internet
and three-dimensional measurement using 3D scanners.

Information Related to the Company’s Shares
180,000,000

Total number of issued shares

43,164,802

Number of shareholders

10,492

Please see our website for details.

Supporting the operations of Group companies from outside Japan
Yokogawa Techno Philippines began in 2005 with the purpose of undertaking some of
the technical work related to the design, full-scale drawing, and structural analysis ofsteel bridges in the Philippines. In January 2018, it became the Group’s eighth operatingcompany. Currently, YTP supports the work of Group companies not only in steel
bridges but also in a wide range of fields, such as engineered structure design andsystem development. Going forward, YTP will continue to collaborate in the Group’s
development from outside Japan through human resource development to cultivate
many engineers based on the technologies and knowledge accumulated within theGroup.

Major shareholders (top 10)
Stake (%)

The Master Trust Bank of Japan, Ltd. (Trust Account)

6,089

14.80

Custody Bank of Japan, Ltd. (Trust Account)

4,019

9.77

Nippon Steel Corporation

1,987

4.83

Yokogawa Electric Corporation

1,676

4.07

SSBTC CLIENT OMNIBUS ACCOUNT

851

2.06

Yokogawa Bridge Holdings Employee Shareholding Association

700

1.70

Sumitomo Realty & Development Co., Ltd.

674

1.63

Nippon Life Insurance Company

543

1.32

NORTHERN TRUST CO. (AVFC) RE U.S. TAX EXEMPTED PENSION FUNDS SEC
LENDING

518

1.25

Mizuho Bank, Ltd.

445

1.08

Data Section

Shares(thousands)

Shareholder

Striving to Help Realize a Sustainable Society

Total number of authorized shares

As of March 31, 2023

Corporate Value Enhancement Strategy

To ensure that structure maintenance is managed appropriately,
we perform inspections, surveys, and diagnostics to check for
abnormalities, deterioration, damage, etc., on steel bridges,
concrete bridges, and other highway structures. We also provide
services ranging from third-party damage precautions in case of
accidents to emergency inspections following earthquakes andother natural disasters.

YBHD Group Profile

YCE Corp. is a construction consultant firm for the YBHD Group.
Since its establishment in 2000, it has continued to grow steadily,
and as Japan moves away from the era of building new infrastructure
to one focused on maintenance and upgrading existing
infrastructure, the company is now advancing into a new stage of
growth. Making effective use of our broad technical capabilities
cultivated in areas spanning new bridge construction to thereinforcement and upgrading of existing bridges, we will continue
working to fulfill our social mission as construction consultants.

Company Profile(Notes)	1. The Company, which holds 2,021,000 treasury shares, is excluded from the above major shareholders. Treasury shares (2,021,000 shares) do not include
company shares owned by the Stock Granting Trust for Officers (241,104 shares).
2. Stakes are calculated, excluding treasury shares.

95

Yokogawa Bridge Holdings Integrated Report 2023

Yokogawa Bridge Holdings Integrated Report 2023

96

4-4-44 Shibaura, Minato-ku, Tokyo 108-0023, Japan
Tel: 03-3453-4111 Fax: 03-3453-4616
http://www.en.ybhd.co.jp/

27 Yamano-cho, Funabashi City, Chiba Prefecture 273-0026, Japan

4-4-44 Shibaura, Minato-ku, Tokyo 108-0023, Japan

Tel: 047-437-8000 Fax: 047-495-2910

Tel: 03-5442-1701 Fax: 03-5442-1702

https://www.yokogawa-bridge.co.jp/

https://www.yti.co.jp/

47-1 Yamano-cho, Funabashi City, Chiba Prefecture 273-0026, Japan

4-4-44 Shibaura, Minato-ku, Tokyo 108-0023, Japan

Tel: 047-410-3215 Fax: 047-410-3280

Tel: 03-3453-4113 Fax: 03-3453-4117

https://www.yokogawa-yess.co.jp/

https://www.ynl.jp/

16-5 Sunayama, Kamisu City, Ibaraki Prefecture 314-0255, Japan

47-1 Yamano-cho, Funabashi City, Chiba Prefecture 273-0026, Japan

Tel: 0479-46-6688 Fax: 0479-46-6684

Tel: 047-435-6535 Fax: 047-435-6538

https://www.ynse.co.jp/

https://www.yceng.co.jp/

385 Sakimori-cho, Muroran City, Hokkaido 050-8570, Japan

Unit 14D,14th Floor Marco Polo Ortigas Manila

Tel: 0143-59-3611 Fax: 0143-59-4688

Sapphire Road, Ortigas Center, 1600 Pasig City, Philippines

https://www.narasaki-ss.co.jp/

TEL/FAX. +63-917-108-8483
https://ytphil.com/