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DENSO Announces Changes of Executive Responsibility

KARIYA (Japan) ―DENSO Corporation today announced changes of Executives’ areas of responsibility.

Changes of Responsibility

The following change will be effective August 1, 2018

Title

Name

New Current
Executive Vice President

Toshiyuki Kato

Toyota, Toyota Group,

Olympic and Paralympic Games Preparation Dept.

Toyota, Toyota Group

Changes are underlined

 

The following changes will be effective September 1, 2018

Title

Name

New Current
Senior Executive Director

Sadahiro Usui

China Div. CEO of Europe,

DENSO INTERNATIONAL EUROPE B.V.

Executive Director

Hisaaki Sato

CEO of Europe,

DENSO INTERNATIONAL EUROPE B.V.

Sales and Marketing of North,

Central & South America

Executive Director

Kazuoki Matsugatani

Engineering of North America,

Engineering of Europe

Engineering of Europe

Changes are underlined 

 

About DENSO in North America

DENSO is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. With its North American headquarters located in Southfield, Michigan, DENSO employs more than 23,000 people at 28 consolidated subsidiaries and 4 affiliates across the North American region. Of these, 25 are manufacturing facilities located in the United States, Canada and Mexico. In the United States alone, DENSO employs more than 17,000 people in Alabama, Arkansas, California, Iowa, Georgia, Kentucky, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Texas. DENSO’s North American consolidated sales totaled US$10.9 billion for the fiscal year ending March 31, 2018. For more information, go to www.denso.com/us-ca/en. Connect with DENSO on Facebook at www.facebook.com/DENSOinNorthAmerica. 

About DENSO Corporation

DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has more than 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/.

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DENSO Announces First-quarter Financial Results

KARIYA (Japan) ―Global automotive supplier DENSO Corporation today announced its global financial results for the first quarter ending June 30, 2018 for fiscal year ending March 31, 2019:

  • Consolidated revenue totaled 1,331.2 billion yen (US$12.0 billion), a 14.3 percent increase from the previous year.
  • Consolidated operating profit totaled 90.9 billion yen (US$822.1 million), a 2.4 percent decrease from the previous year.
  • Consolidated profit attributable to owners of the parent company totaled 77.3 billion yen (US$699.2 million), a 0.8 percent increase from the previous year.

“DENSO’s revenue rose due to an increase in global vehicle production, as well as sales expansion. In addition, newly consolidated subsidiaries, DENSO TEN and TD mobile, contributed to growth in revenue. Despite a rise in production volume and cost reduction efforts, DENSO’s operating profit decreased due to an increase in investment for future growth toward becoming a leading mobility supplier,” said Yasushi Matsui, executive director of DENSO Corporation.

In Japan, a rise in vehicle production and an increase in vehicles equipped with safety-related products, as well as the impact from the newly consolidated subsidiaries resulted in an increase in revenue to 778.8 billion yen (US$7.0 billion), a 15.3 percent growth from the previous year. Despite a rise in production volume and cost-reduction efforts, an increase in investment for future growth led to a drop in operating profit to 34.1 billion yen (US$308.4 million), an 8.7 percent down from the previous year.

In North America, a rise in both vehicle production and sales expansion led to an increase in revenue to 310.9 billion yen (US$2.8 billion), a 10.6 percent increase from the previous year. Operating profit totaled 11.6 billion yen (US$105.3 million), a 31.4 percent decrease from the previous year due to the increase in expenses for R&D, variance of periods in collecting application fees and the investments for expanding production capabilities.

In Europe, a rise in vehicle production led to an increase in revenue to 182.0 billion yen (US$1.6 billion), a 14.0 percent increase from the previous year. As a result of the increase in production volume and cost-reduction efforts, operating profit totaled 7.0 billion yen (US$63.6 million), a 20.5 percent increase from the previous year.

In Asia, a rise in vehicle production led to an increase in revenue to 358.1 billion yen (US$3.2 billion), a 19.5 percent rise from the previous year. As a result of the increase in production volume and cost-reduction efforts, operating profit totaled 33.7 billion yen (US$304.9 million), an 18.2 percent growth from the previous year.

In other areas, mainly the South American region, specifically Brazil and Argentina, revenue totaled 17.1 billion yen (US$155.1 million), a 10.4 percent decrease from the previous year. Operating profit totaled 2.6 billion yen (US$23.5 million).

“Considering the first-quarter financial results, we have revised up our financial result forecasts for the first-half and full-year,” said Matsui.

(Foreign exchange rates used for the first-half financial result forecast are US$= 107yen, Euro= 130 yen, and for the full-year are US$= 106 yen, Euro= 130 yen)

Forecast for Fiscal Year Ending March 31, 2019

First-Half Forecast (Revised) Full-Year Forecast (Revised) Changes from Previous FY
Revenue 2,660.0 billion yen

[US$24.1 billion]

5,400.0 billion yen

[US$48.9 billion]

+80.0 billion yen

(+1.5 percent)

Operating profit 161.0 billion yen

[US$1.5 billion]

390.0 billion yen

[US$3.5 billion]

+14.0 billion yen

(+3.7 percent)

Profit before income taxes 179.0 billion yen

[US$1.6 billion]

427.0 billion yen

[US$3.9 billion]

+12.0 billion yen

(+2.9 percent)

Profit attributable to owners of the parent company 120.0 billion yen

[US$1.1 billion]

303.0 billion yen

[US$2.7 billion]

+13.0 billion yen

(+4.5 percent)

 

 About DENSO in North America

DENSO is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. With its North American headquarters located in Southfield, Michigan, DENSO employs more than 23,000 people at 28 consolidated subsidiaries and 4 affiliates across the North American region. Of these, 25 are manufacturing facilities located in the United States, Canada and Mexico. In the United States alone, DENSO employs more than 17,000 people in Alabama, Arkansas, California, Iowa, Georgia, Kentucky, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Texas. DENSO’s North American consolidated sales totaled US$10.9 billion for the fiscal year ending March 31, 2018. For more information, go to www.denso.com/us-ca/en. Connect with DENSO on Facebook at www.facebook.com/DENSOinNorthAmerica. 

About DENSO Corporation

DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has more than 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/.

(Notes)

The above forecasts are created based on the information obtained by the date of this announcement and the actual results may differ due to various causes in the future.

U.S. dollar amounts have been translated, for convenience only, at the rate of 110.54 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market June. 29, 2018. Billion is used in the American sense of one thousand million.

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DENSO Partners with Innovation Platform Plug and Play to Advance the Future of Mobility

SOUTHFIELD, Mich. (July 17, 2018) – DENSO, one of the world’s largest automotive suppliers of technology and components, is committed to collaborating with outside companies, universities, and research institutions to further the advancement of new and future mobility services. To that end, DENSO today announced its Silicon Valley office’s partnership with Plug and Play, the world’s largest innovation platform. DENSO joins 40 other automotive players, including Ford, Bosch, Nissan, and Toyota Financial Services, as corporate partners in Plug and Play’s Mobility Program.

“While we’ve been more self-sufficient in the past, DENSO is embracing open innovation to bolster our technology portfolio to keep pace with the rapid changes in the automotive industry,” said Bill Foy, senior vice president of Engineering at DENSO’s North American headquarters. “We’re thrilled to join the Plug and Play platform, so we can strategically evaluate new partners and opportunities that allow us to quickly and flexibly develop unique solutions that meet the needs of our customers.”

DENSO looks to partner with startups that provide a necessary automotive solution or innovative technology with potentially significant implications for the future of transportation. Specifically, the company will work with Plug and Play’s network of promising startups to accelerate its business and technology development in four core areas: connectivity, autonomous driving, shared mobility and electrification (CASE).

As a member of the Plug and Play ecosystem, DENSO will also contribute firsthand to the growth and success of the startups and entrepreneurs involved. Last year, Japan-based DENSO Corporation partnered with Plug and Play Japan.

Founded in 2006, Plug and Play now operates in 26 locations worldwide. It runs industry-specific accelerator programs that connect startups to forward-thinking corporations for business development and investment opportunities. Startups that have seen great success with the help of Plug and Play and its corporate partners include PayPal and DropBox.

“Our talented teams in DENSO’s Silicon Valley and Tokyo offices are embracing open innovation and working closely alongside Plug and Play to identify and establish partnerships with already-vetted startups that can accelerate our long-term vision of creating a safe and secure future of mobility for all,” said Foy.

DENSO participated in its first Plug and Play Summit on July 11, 2018, in downtown Detroit. At the all-day event, DENSO executives and other corporate partners met with 20 startups, who presented and demonstrated how their emerging technologies are impacting mobility.

About DENSO in North America

DENSO is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. With its North American headquarters located in Southfield, Michigan, DENSO employs more than 23,000 people at 28 consolidated subsidiaries and 4 affiliates across the North American region. Of these, 25 are manufacturing facilities located in the United States, Canada and Mexico. In the United States alone, DENSO employs more than 17,000 people in Alabama, Arkansas, California, Iowa, Georgia, Kentucky, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Texas. DENSO’s North American consolidated sales totaled US$10.9 billion for the fiscal year ending March 31, 2018. For more information, go to www.denso.com/us-ca/en. Connect with DENSO on Facebook at www.facebook.com/DENSOinNorthAmerica.

About DENSO Corporation

DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has more than 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. www.plugandplaytechcenter.com.

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