DENSO to Merge Its Two Industrial Equipment Subsidiaries

Dec 4, 2013

KARIYA (Japan) - DENSO Corporation will merge DENSO WAVE Incorporated, which develops and sells automatic data capture devices and industrial robots and other systems and devices, and DENSO ELECS Co., Ltd., which manufactures products developed by DENSO WAVE, in January 2015. The consolidated company will be called DENSO WAVE.

In order to improve its competitiveness in the area of industrial equipment, including automatic data capture devices and industrial robots, DENSO Corporation has decided that the development, manufacture, and sales of these products need to be controlled by one organization.

The DENSO Group will continue to strive not only to develop automotive products to help improve the environmental performance and safety of vehicles, but also to provide industrial equipment, QR codes, and many other products and technologies.

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions (including Japan) and employs more than 130,000 people. Consolidated global sales for the fiscal year ending March 31, 2013, totaled US $38.1 billion. Last fiscal year, DENSO spent 9.4 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.

Profile of DENSO WAVE

1. Name DENSO WAVE Incorporated
2. Location 1, Yoshiike, Kusagi, Agui-cho, Chita-gun, Aichi
3. President Mitsuhiko Masegi
4. Establishment June 1976
5. Capital 495 million yen (approximately US$4.8 million)
6. Ownership 75% owned by DENSO Corporation, 15% by Toyota Tsusho Corporation, and 10% by TOPPAN TDK LABEL Co., Ltd.
7. Sales 33.4 billion yen (approximately US$326.1 million, in fiscal 2012)
8. Employees 648 (as of March 31, 2013)
9. Business description Development and sales of automatic data capture devices, industrial robots, programmable controllers, and other systems, as well as development and sales of QR codes

Profile of DENSO ELECS

1. Name DENSO ELECS Co., Ltd.
2. Location 1, Yoshiike, Kusagi, Agui-cho, Chita-gun, Aichi
3. President Fumiaki Nagata
4. Establishment February 1976
5. Capital 95 million yen (approximately US$0.9 million)
6. Ownership 100% owned by DENSO Corporation
7. Employees 268 (as of March 31, 2013)
8. Business description Manufacture of automatic data capture devices and industrial robots

Exchange rate used is 102.42 yen to the US one dollar at the end of November 2013 for convenience only.