The Yankees have announced that they have signed reliever Hideki Okajima to a minor league deal. In his 5 Major League seasons, Okajima has a -1.164 PE and -.414 Adjusted PE. However, his last full year in the big leagues was 2010, and it wasn't near as good, as he had an awful 2.96 Adjusted PE. He struggled big time with BABIP, as it was .344, and homers with 1.17 HR/9IP. His FIP - was 106, and a 4.39 SIERA. He put up a 6.2 WAR in his first 3 seasons, and then just .1 WAR in his last 2. In 2011, he spent most of the year in AAA, and he had a very nice PE of -3.19, which would translate to about a -.63 PE in the majors. The big questions are whether his low groundball rate and sometimes high home run rate will cripple him in Yankee Stadium. However, at least the way he pitched in AAA last year, it appears Okajima can still pitch in the Majors, and seems to be a steal for Brian Cashman and company.
For those curious, Okajima had a PE of about -5.02, or a projected PE of -2.974. Okajima certainly performed under that level, and some of it could be explained by difference of age. Hideki was certainly past his prime age by the time he came to America.