President's Message
DENSO contributes to the creation of an advanced automotive society and a sustainable society based on a firm commitment to CSR management.
Solidifying the foundations of CSR management
The economic crisis triggered in the United States in September 2008 spread to other parts of the world in a very short time. Currently, the auto industry is facing the biggest test of its history with the collapse of two of the Big Three automobile manufacturers. Business performance deteriorated sharply at DENSO in fiscal 2009, and although we executed emergency countermeasures in response to the crisis such as restricting spending and costs based on an overhaul of expenses, it was difficult to follow through as planned on our economic commitments, the basis of CSR promotion. As a result, we were forced to cut back on recruitment of part-time and temporary workers at DENSO Corporation and Group companies worldwide, and reduce compensation to regular employees, tax payments to national and local governments and dividends for shareholders. Despite signs of economic recovery due to governmental measures around the world, the market needs more time to get back on track.
On the other hand, stakeholder expectations are rising for global corporations to resolve issues affecting the entire world, including environmental challenges and growing social disparities. This involves the need to implement sustainable initiatives in a diverse array of fields.
Amid such harsh conditions, DENSO believes in the importance of complete compliance with laws and ethics, reaffirmation of the DENSO Group Declaration of Corporate Behavior outlining our CSR policy and having each employee do what needs to be done to fulfill our responsibilities to all stakeholders—all with the aim of continuing to be a business group trusted by society. This will in turn lead to greater stakeholder confidence and solidify the foundations of CSR management.
Contributing to the evolution of mobility
One of the CSR themes we tackle in business is to contribute to the creation of an advanced automotive society. To help drive expected advancements in automobiles as a safe and environment-friendly means of transportation (mobility), we are one of the biggest investors in R&D in the industry directed toward the pursuit of technological innovation.
Looking at long-term trends in the automotive market, while this sector continues to expand in emerging nations, the proportion of hybrid, bio-fuel and electric cars is forecast to grow in line with needs for diverse forms of energy due to limitations on oil dependency and the implementation of measures to curb global warming. In light of these trends, DENSO is developing technologies to enhance fuel efficiency in gasoline and diesel engines, power devices that accommodate higher power capacitance in automobiles, starters for idling stop systems and air conditioning systems with outstanding energy-saving properties. We supply state-of-the-art products to the market and have succeeded in the practical application of the world’s first plant-derived resin radiator tank.
World Health Organization (WHO) statistics state that 1.2 million people die every year from traffic accidents globally, making the elimination of accidents a pressing social challenge. By leveraging sensing and electronic control technologies that make use of miniature lasers, DENSO develops highly advanced safety systems to detect pedestrians and maintain a safe following distance while driving, and continues to expand the variety of vehicles in which these systems are used.
I am confident that our efforts to resolve the issues facing the automotive society will lead to an evolution in the mobility society and sustainable growth for DENSO.
Forging deeper ties with many people while realizing the next stage of growth
To enhance and promote CSR management amid a severe economic climate, it is necessary to further deepen ties with stakeholders and expand the scope of cooperation. To illustrate this point, this report introduces achievements from collaborative projects aimed at ensuring a sustainable society in a special feature section entitled “Engagement with Stakeholders.” Our success lies in the DENSO Spirit (characterized by Foresight, Credibility and Collaboration), an intangible asset that has grown out of the experience of our predecessors since the Company’s founding. Repeated engagement with stakeholders is expected to help generate new ideas and actions that will propel us to the next significant leap forward and open new doors of opportunity.
Over our 60-year history, DENSO has been faced with numerous challenges threatening our existence, including a labor dispute that occurred shortly after the inauguration of business, as well as two oil crises. On each of these occasions, the organization has worked hard to achieve technological innovations or cultivate new business fields through cooperation with stakeholders, which has driven corporate development. These trials are important milestones on the road to further growth. When 120,000 employees worldwide join forces to overcome challenges, this engenders a new image of DENSO as a truly CSR-oriented enterprise that is strong and flexible, as well as a company that is trusted by and identifies with society.
By reporting on DENSO’s CSR initiatives, this report aims to solicit a variety of suggestions and opinions from a larger base of stakeholders. As we discover new issues and challenges, we can make improvements and work together with our stakeholders; therefore, I welcome your candid feedback.
Nobuaki Katoh
President and CEO
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