Press release

Yokogawa Takes Strategic Stake in Finnish Company Sensire Ltd. to Pursue Collaboration in Cold Chain Monitoring

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Yokogawa Electric Corporation (TOKYO:6841) and Finland-based Sensire
Ltd. announce that they have reached an agreement for Yokogawa to take a
€6 million stake in Sensire and to begin collaborating in the cold chain
monitoring field. Through this initiative, both companies aim to develop
and provide new services that combine Yokogawa’s Industrial Internet of
Things (IIoT) architecture, subscription-based IIoT services being
developed by its amnimo Inc. subsidiary, and Sensire’s cold chain
temperature monitoring solutions.

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(Graphic: Business Wire)

(Graphic: Business Wire)

Demand for solutions that facilitate the temperature-controlled
transportation of perishable items from the point of origin to the point
of consumption is on the rise, and this need is particularly acute with
pharmaceutical and food products that require strict temperature control.

Sensire Ltd. offers a full range of specialized temperature monitoring
solutions mainly for the cold chain. Sensire’s compact and power
efficient temperature sensors collect and transmit temperature data to
the cloud for access from PCs and mobile devices. Supporting a range of
wireless communication protocols suitable for land, sea, and air
transport applications, Sensire’s solutions ensure access to continuous
real-time monitoring data that delivers vital quality and compliance
information when and where it is needed.

Yokogawa is developing a cloud-based IIoT architecture in collaboration
with Microsoft Corporation of the United States, and based on this is
starting to provide solutions for the remote monitoring of physical
quantities. In addition, Yokogawa’s amnimo Inc. business unit is
developing IIoT services that use this architecture to provide access to
data from not only manufacturing plants but also many other types of
facilities and situations, with the aim of delivering subscription-based
Measurement as a Service (MaaS).

Having taken a 35.2% stake in Sensire, Yokogawa is now this company’s
largest shareholder. Utilizing Yokogawa’s know-how and global network,
the two companies will work together to develop new temperature
monitoring solutions for the cold chain and other logistics services,
and expand this business.

Tsuyoshi Abe, a Yokogawa senior vice president and head of the company’s
Marketing Headquarters, commented, “Under its Transformation 2020
mid-term business plan, Yokogawa is now exploring new business models
such as recurring revenue while also aiming to expand its business in
the pharmaceutical and food fields. I am convinced that Sensire’s
solutions will accelerate these efforts, and I trust that we will be
able to deliver new value to applications where precise temperature
control is critical by combining the technologies of both companies.”

JP Asikainen, founder and CEO of Sensire, added, “I believe that this
collaboration with Yokogawa will provide us an opportunity to expand the
business globally and ensure the transition to the next-generation of
cloud architecture. We look forward to making the latest and best cold
chain solutions available to customers in a broader range of industries
and applications.”

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About Yokogawa
Founded in 1915, Yokogawa engages in
broad-ranging activities in the areas of measurement, control, and
information. The industrial automation business provides vital products,
services, and solutions to a diverse range of process industries
including oil, chemicals, natural gas, power, iron and steel, and pulp
and paper. With the life innovation business, the company aims to
radically improve productivity across the pharmaceutical and food
industry value chains. The test & measurement, aviation, and other
businesses continue to provide essential instruments and equipment with
industry-leading precision and reliability. Yokogawa co-innovates with
its customers through a global network of 113 companies spanning 60
countries, generating US$3.6 billion in sales in FY2018. For more
information, please visit

About Sensire
Sensire Ltd., founded in 2007 by CEO JP
Asikainen, offers comprehensive wireless and automatic real-time
monitoring products that serve the globally vital climate-controlled
chain. The IoT tech company’s solutions help deliver better safety and
quality in various cold chain operations from food industry applications
to pharmaceutical logistics, as well as in many climate-sensitive
healthcare premises. Sensire is committed to being the leading innovator
in cold chain IoT technology in order to offer best-in-class products
and services to its customers. Headquartered in Joensuu, Finland, the
company turnover in FY2018 was EUR 1.5 million. For more information,

The names of corporations, organizations, products, services and logos
herein are either registered trademarks or trademarks of Yokogawa
Electric Corporation, Sensire Ltd., or their respective holders.