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| President-Elect Koichi Fukaya Remarks
April 17, 2003 |
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| The Nagoya Stock Exchange Press Club |
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Thank you very much for your warm introduction, Mr. Okabe, and your applause, ladies and gentleman. This is a very important day for me. As you all might imagine, I have traveled quite a journey during the past 30 years at DENSO, and especially during the past few weeks, to be with you here today.

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When Mr. Okabe called me into his office to tell me that I had been selected as the next president, I was excited by the task before me.

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I am both honored and determined to lead DENSO to further success as we face the many challenges ahead of us in this century’s automotive supplier industry. I am dedicated to strengthening the company’s global network to provide high quality products at competitive costs with the support of our associates worldwide.

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As you are all aware, ethics is a key theme in today’s business world. I believe it will be an essential part of my job as president to ensure company transparency with all our customers, suppliers, shareholders, employees and society.

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In the beginning, I will create DENSO’s long-term vision. It will serve as DENSO’s road map for our corporate goals and objectives. I will also listen to my fellow board members and look for industry trends in order to make the best decisions for the company’s future.

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DENSO’s future depends a great deal on many factors. Some of which are in my hands, but most of which are in the hands of our 87,000 employees. From Japan to Germany, the United States to China, we will all work together to create quality automotive products steeped in technological excellence, all the while using our innovative approach to problem-solving that our customers expect.

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In the end, I want to be a president who sees challenges and meets them; sees opportunities and takes them, and sees improvements and makes them. Thank you for your time and I look forward to meeting you all in the months to come.

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