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| Aug 30, 2005 |
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DENSO Acquires Additional Shares of Shimizu Industry Co., Ltd.
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TOKYO - DENSO Corporation has today acquired additional shares of Shimizu Industry Co., Ltd., headquartered in Kariya, Aichi, Japan, increasing its ownership of Shimizu Industry from 26 percent to 51 percent. With this increase in shares, Shimizu Industry becomes one of DENSO's subsidiaries.
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Shimizu Industry produces plastic components and metal molds for car air-conditioning systems and supplies its products mainly to DENSO companies worldwide. Shimizu Industry has manufacturing facilities in Japan, the United States, the United Kingdom, Brazil, and the Czech Republic.
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“This will help DENSO enhance its air conditioning system supply network around the world,“ said Hikaru Sugi, managing officer in charge of DENSO's Thermal Systems Business Group.
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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 104,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2005 totaled US$26.2 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com
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Corporate profile of Shimizu Industry:
| 1. |
Name |
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Shimizu Industry Co., Ltd. |
| 2. |
Established |
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1944 |
| 3. |
Location |
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1 Chasenbo-shita, Hitotsugi, Kariya, Aichi, Japan |
| 4. |
Capital |
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100 million yen* (at the end of March 2005) (approximately US$880,000) |
| 5. |
President |
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Osamu Onoue |
| 6. |
Business fields |
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Production and sales of plastic products and metal molds for car air-conditioning systems and radiator electric fans |
| 7. |
Employees |
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569 (as of the end of March 2005) |
| 8. |
Consolidated net sales |
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Approximately 26 billion yen* in the fiscal year ended March 2005 (approximately US$230 million) |
| 9. |
Group companies |
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9 (Japan: 2; the United States: 3; the United Kingdom: 2; Brazil: 1; the Czech Republic: 1) |
| 10. |
Main customers |
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DENSO and Toyota |
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| * Exchange rates used are 113 yen per one dollar at the end of July 2005. |
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Group companies of Shimizu Industry:
Subsidiaries
1. Systex Japan Inc. (Japan)
2. Maultech Corporation (Japan)
3. Systex Products Corporation (the United States)
4. Systex Products Arkansas Company (the United States)
5. Traltec (U.K.) Limited (United Kingdom)
6. T.P. Molding Limited (United Kingdom)
7. Pecval Industria LTDA. (Brazil)
8. Liplastec s.r.o. (Czech Republic)
Affiliate
1. Pyper Products Corporation (the United States)
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