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| Mar 9, 2004 |
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DENSO Announces Outcome of Tender Offer for its Shares
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Tokyo - DENSO Corporation today announced the outcome of the tender offer for its own shares. This is in accordance with regulations prescribed in Provision of Clause 1 of Article 210 Japan’s commercial code pertaining to the procedures for retiring shares.
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Details of Tender Offer
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(1) |
Name and address of tender offeror : |
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DENSO Corporation |
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1-1 Showa-cho, Kariya-shi, Aichi-ken |
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(2) |
Type of shares: |
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Common stock of the Company |
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(3) |
Period of tender offer : |
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From Feb. 17, 2004 (Tuesday) |
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to March 8, 2004 (Monday) (21 days) |
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(4) |
Purchase price : |
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2,043 Japanese yen per share |
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(5) |
Number of shares tendered and shares repurchased : |
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Number of shares tendered: 5,681,700 shares (10 shareholders tendered) |
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Number of shares repurchased: 5,681,700 shares |
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(Since the number of shares tendered did not exceed the number of planned repurchased shares, tender offeror repurchased all the shares tendered from each shareholder.) |
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Method of Settlement and Commencement Date
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A Purchase Notice will be mailed to the address of tendering shareholders (the address of custodian for foreign shareholders) immediately after the end of the tender offer period. Purchase will be made in cash. The proceeds of purchase after deduction of the withholding tax will be remitted by THE NOMURA SECURITIES CO., LTD. (9-1 1-chome, Nihonbashi, Chuo-ku, Tokyo) to places designated by the tendering individual shareholders who select the separate withholding tax at source, and by the tendering corporation shareholders, immediately after the commencement date of settlement.
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Commencement date: March 15, 2004 (Monday)
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Copy of the Tender Offer Report Copy is Available for Public Inspection
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DENSO CORPORATION |
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1-1 Showa-cho, Kariya-shi, Aichi-ken |
| Tokyo Stock Exchange, Inc. |
2-1 Nihombashi Kabuto-cho, Chuo-ku, Tokyo |
| The Nagoya Stock Exchange |
3-17 3-chome, Sakae, Naka-ku, Nagoya-shi |
| Osaka Securities Exchange Co., Ltd. |
6-10 1-chome, Kitahama, Chuo-ku, Osaka-shi |
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| 1. |
Decision of the repurchase of its own shares by the 80th Annual Shareholders’ Meeting held on June 27, 2003:
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Type of shares: |
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Common stock of the Company |
| Total number of shares: |
Not to exceed 20,000,000 shares |
| Aggregate purchase price: |
Not to exceed 40 billion yen |
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| 2. |
Status of the repurchase progress as of March 9, 2004:
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Number of shares already repurchased: |
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9,461,700 shares |
| Accumulated purchase price: |
19,391 million yen |
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DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world’s major carmakers. Worldwide, the company employs 90,000 people in 31 countries and regions, including Japan. Consolidated global sales for fiscal year ended March 31, 2003 totaled US$19.4 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges.
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