Corporate Profile

CEO Message
To provide a better future for the next generation amid a paradigm shift,

which occurs once every 100 years, we will reaffirm our significance to society To deli ver a bet ter f uture to the
as we accelerate sustainability management—the management ideology
next generat i o n t hrough our produc ts
we have adopted since our founding—going forward.
and services, we will work with passion

a nd exci tement to realize

a n enri ched mo bile soc iety and

co nt ri bute to t he sustainable

grow t h of t hat soc iety.

Look at the world with a brighter vision for the future.

Cherish nature and learn to live together in harmony.

Welcome changes and meet challenges unafraid. Koji Arima

Embrace diversity and cooperate to enhance technologies. President & CEO

More than ever before, we will value the DENSO tradition of

Monozukuri as we pursue new value and create

new “Cores” for years to come.

After all, everything we do is to provide a better future

for the next generation.

01 For details, please see the DENSO Integrated Report 02

 DENSO Philosophy Foundation Major Points for Understanding DENSO

Contributing to a better world DENSO Spirit Expansive Business Domains

by creating value together with

Boldly taking on new challenges Clearing the way for future automobiles
no matter what the circumstances through DENSO’s six core businesses that create
The DENSO Spirit is one of foresight, credibility, and collaboration. It also green value and provide peace of mind

a vision for the future

embodies the values and beliefs that DENSO has cultivated since its
Since its founding, DENSO has promoted the development of advanced
founding in 1949. The DENSO Spirit permeates the actions of all DENSO
technologies related to automobiles. At the same time, the Company has
employees around the world.
expanded its business domains by applying these technologies in various fields.

Non-automotive Business
(Factory Automation / Agriculture, etc.)

Other Automotive Thermal

Systems
Sensor &
Number of DENSO Employees

DENSO Spirit
Semiconductor Consolidated

170,000 5.2
Practicing the DENSO Spirit
Revenue
Mobility

A spirit of foresight, credibility and collaboration

Electronics ¥ trillion
Powertrain
Electrification Systems
Systems

The DENSO Spirit expresses values and beliefs shared by our employees

around the world that have driven us to contribute to the automotive industry Research and Development, Global Business Foundation
and society as a whole since our establishment in 1949. Monozukuri , and Hitozukuri Leveraging our global foundation to bring
We are committed to happiness to people around the world and create a
creating the best products better tomorrow

Foresight Credibility Collaboration

DENSO’s three greatest strengths are its R&D, Monozukuri Aiming to be a company that can meet the needs of its various customers
(the art of making things), and Hitozukuri (human resource development). around the world and earn their trust, DENSO has expanded its business with
By having these strengths complement each other, DENSO is able to push 200 consolidated subsidiaries in 35 countries and regions across the globe.
forward with its business activities and provide new value to society.
Providing surprises and Providing quality and Achieving the highest
impressions in a way reliability beyond results by working

40,000
Number of Patents Held Globally
that only DENSO can customer expectations as a team Ratio of Overseas
Ratio of Overseas

55
Revenue to Total

55
Employees*
Revenue
Vision Quality First Communication
%
Creativity On-site Verification Teamwork Number of Medals Won at %

69
World Skills Competitions
Challenge Kaizen , Human Development
Continuous Improvement *R
 atio of employees at overseas
subsidiaries to total employees

03 04
 Long-term
DENSO has formulated the Long-term Policy, which serves as a vision for what the
Company aims to be by 2030. In addition to maximizing the value we provide through

Policy
“green” and “peace of mind,” two of our conventional areas of focus, we have adopted the
new theme of “inspiring.” Guided by these three themes, we will strive to gain the
understanding of our shareholders regarding the various efforts we pursue. By combining
the strengths we possess under each theme, we will generate new value for society.

Slogan

Bringing hope for the future for our planet,

society and all people
Our Goal for 2030
A company that continuously generates value to enrich mobility that achieves
sustainability, happiness and peace of mind for everyone

Peace
Green Green
of mind
Lasting vitality for the environment
Contribute to sustainability by increasing efficiency and reducing environmental impact

Peace of mind
Providing a sense of well-being
Contribute to future mobility that is safer, more comfortable and convenient for everyone

Inspiring
Making a difference
Inspiring
Contribute to happiness for everyone through inspiring value-added offerings

/ Vision /
Principles Approach Attitude
Approach and Attitude
for achievement of goals Open Fair Reliable Passion
Work hand in hand with Deliver value for all Earn people’s confidence &
diverse partners to people worldwide by offering value that Initiative
enrich society transcends expectations
- Contribute to an enriched - Take the initiative in - Generate value that addresses
mobile society environmental stewardship latent needs
A proactive sense of
- Cultivate relationships to - Provide mobility for all people - Mobilize comprehensive commitment to
address shared goals - Make smart functionality the technological capabilities challenge for a
- Explore new business fields standard - Assert a commanding edge in
manufacturing
bright future

05 06
 Four Focus
In order to fulfill our slogan of “Bringing hope for the future for our planet, society and
all people”, DENSO is focusing on the fields of electrification, advanced safety and

Fields
automated driving, and connected driving. We are also working to provide new mobility
value and establish factory automation and agriculture as our non-automotive
businesses. In these ways, we are contributing to the improvement of industrial and
social productivity.

Electrification Advanced Safety and Automated Driving

Provided Value Provided Value

Reducing environmental burden Realizing a safe society without accidents,
and realizing highly efficient mobility and free and comfortable mobility
DENSO has been engaged in the development DENSO aims to create a mobile society
of electric vehicle systems that are eco- without accidents and in which all people
friendly and enable even more comfortable can move safely and with peace of mind.
travel. As a result, DENSO has realized high Guided by this aim, DENSO has
functioning, compact, and fuel-efficient developed reliable, high-quality safety
products that are essential for hybrid vehicles technologies. By enhancing our long-
and is producing these products around the cultivated sensing technologies as well as
world. Going forward, we will leverage our our AI and information technologies, we
expansive business domains to form linkages will further contribute to the
between various in-vehicle systems and development of automated driving.
products in an effort to efficiently manage Maintaining our firm commitment to
energy within vehicles. In this manner, we will quality, which we have adopted since our
further improve fuel efficiency and contribute founding, we will deliver genuine peace of
to the conservation of energy. mind for the future of the mobile society.

Connected Cars Non-Automotive Businesses (Factory Automation and Agriculture)

Provided Value Provided Value

Realizing a new mobile society Contributing to improved social
that connects vehicles, people, and goods and industrial productivity
Amid the major transition from the trend DENSO has a solid track record of

/ Business Overview /
of owning a vehicle to the trend of using introducing factory automation (FA)
a vehicle as a service, DENSO is pursuing systems in 130 factories. Leveraging this
efforts in the Mobility-as-a-Service record, we will propose and provide FA
(MaaS) business, which involves providing systems that can meet the diverse needs
mobility services that move people and of our customers, thereby making
goods. Going forward, we aim to provide extensive contributions to the
safe, secure, and efficient transportation development of the manufacturing
methods with low environmental burden industry. Also, with the aim of delivering
for people with vehicles and for those happiness to all people through
without, thereby contributing to the agriculture, we will draw on the expertise
realization of anew mobile society. and know-how we have cultivated in the
automotive field to offer new value in
agricultural fields.

07 08
 Thermal Systems Powertrain Systems
Providing safe, comfortable systems that use the least amount of Providing solutions that help overcome the seemingly contradictive task of
energy possible in consideration of the environment balancing the joy of driving with superior environmental performance

Car Air-conditioning Condenser Common Rail for Diesel Engines

DENSO is using its extensive Business Activities To reduce the environmental burden of Business Activities
experience in thermal systems to adapt ■ Development and production of air conditioning systems for cars and buses, vehicles to the greatest extent possible, ■ Development and manufacture of gasoline and diesel engine management
to the changes in mobility. Our focus truck refrigeration units, air purifiers and related air conditioning products, we will support the development of systems, which cover everything from combustion to intake and exhaust.
will continue to be on reducing fuel radiators, and cooling systems. internal combustion engines through ■ Development and manufacture of engine-related products, such as variable
consumption while offering the pursuit of both environmental and cam timing (VCT) systems and exhaust gas sensors; and products for drive
comfortable thermal management driving performance. systems, such as oil pressure control valves.

systems and components. While continuing to provide systems

and components, we will strive to
Features Features
create and deliver new value in order to
■ Collective capabilities enabling systematic development contribute to society as a whole. ■ We maintain and comprehensively develop a wide variety of
and manufacturing of car air conditioning condensers. technologies and systems are active across a broad range of
■ Capabilities for developing world-first heat pump systems business domains related to powertrains, extending from
for vehicle electrification and cooling systems for PCUs gasoline and diesel vehicles to hybrid and electric vehicles. We
(Power Control Units), etc. are also able to manufacture products in these domains using
highly advanced production techniques.

09 10
 Electrification Systems Mobility Electronics
Supporting electrification in all areas of mobility to realize an enriched Aiming to realize Quality of Mobility so that all people can
environment and the joy of driving enjoy mobility safely and comfortably

MG (Motor Generator) for Hybrid Vehicles Full Graphic Instrument Cluster (Demo Screen)

We have been engaged in the development of Business Activities DENSO aims to realize Quality of Business Activities
electrification technologies for many years. Through ■ Development and production of hybrid and electric car drive systems, power Mobility so that all people can enjoy ■ Development and provision of electronic systems, services, and platforms that support all aspects of mobility.
■ Development and manufacture of cockpit products, including HMI control units, meters, head-up displays (HUDs), air
these efforts, we have amassed a solid production supply and related products. mobility safely and comfortably by conditioner panels, and driver status monitors(DSMs).
track record around the world, enhancing the ■ Power supply and starting system parts such as alternators and starters. combining its advanced comprehensive ■ Development and manufacture of connected car products, including telematics control units (TCUs), ETC2.0 in-vehicle
performance and reducing the size of key products ■ Development and production of small motor systems for automobiles, such as systems, including sensors, devices, and road-to-vehicle and vehicle-to-vehicle communication devices.
■ Development and manufacture of automated driving (AD) and advanced driver assistance system (ADAS) products,
that are essential for hybrid vehicles while also wiper systems, power windows, power seats, power steering, engine control
semiconductors, engine control units including vision sensors, millimeter-wave radar sensors, sonar sensors, driver assistance ECUs, and airbag sensors and
motors, blowers, and cooling fans.
realizing reduced fuel consumption. Moving forward, (ECUs), and platforms, while taking the ECUs.
■ Development and manufacture of electronics products, including powertrain control ECUs and body control ECUs.
we will leverage the wide range of business fields in initiative in terms of vehicles and end
Features
■ Planning and development of retrofittable products, including false acceleration control devices.
which we are involved to form links between various users and striving to eliminate traffic Features
in-vehicle systems and products and thoroughly ■ We have the capability to comprehensively carry out
accidents and traffic congestion to add ■ We have a broad range of technologies that are essential for realizing advanced driver assistance
development and production using our technological
manage energy efficiency. In these ways, we will value. systems (ADAS) and automated driving (AD), including road environment recognition, human
know-how and knowledge across a broad range of machine interface (HMI), connected cars, and powertrain control. We are also able to undertake the
further enhance fuel performance and contribute to development of products that draw on our comprehensive strengths in these areas.
business domains, from starting/recharging products
the conservation of energy. for internal combustion engine vehicles to battery-
■ By melding the unique value and performance of in-vehicle products with IT products, we are able
to build trust with our customers that encourages them to continue using our products with peace
driven products such as hybrid, electric and fuel cell of mind. We are also able to develop highly secure products and services that protect the safety of
vehicles. our customers.
H M I: Human Machine Interface HUD: Head-Up Display DSM : Driver Status Monitor
TC U : Telematics Control Unit E TC : Electronic Toll Collection System AD : Autonomous Driving
ADAS: Advanced Driver Assistance System EC U : Electronic Control Unit

11 12
 Sensor & Semiconductor Non-Automotive Businesses: Factory Automation
Pioneering the industry through semiconductor and sensing technologies to Enhancing the productivity of the manufacturing industry and contributing to an
realize an eco-friendly, comfortable, and safe mobility and society improved quality of life with a commitment to our long-cultivated technologies

Transmission control device Car Air-conditioner Assembly Process

DENSO will consolidate and greatly Business Activities Utilizing our solid track record of introducing factory Business Activities
enhance its cross-organizational ■ Development and manufacture of microelectronic devices, including in-vehicle power automation at 130 factories around the world, DENSO ■ Development and manufacture of industrial equipment best.
technological development of semiconductors, semiconductor sensors, and integrated circuits (ICs). will propose and provide factory automation systems exemplified by our automated equipment, modules, and industrial-use robots
semiconductors (brain) and sensors capable of meeting customers’ needs. Incorporating ■ Development and manufacture of equipment for use by society, including
(eyes) in order to support innovation in process design and on-site management know-how we handy terminals and QR and RFID payment and recognition solutions, and
automobiles. Moreover, through the have cultivated over many years of manufacturing provision of services.

development of electronic elemental

Features automobile components, our lean automation packages
technologies that offer value optimized ■ Extensive product lineup from sensors to power modules and offer automated processes incorporating robots, QR and
for the new mobile society, we will development capabilities in elemental technologies.
barcodes, radio frequency identification (RFID*), and Features
■ Advanced technological strengths capable of in-house
reduce the environmental burden and other technologies, as well as support for making ■ Integration of technologies
semiconductor manufacturing.
help build a society in which people can ■ Development capabilities in vertical integration of
improvements using IoT. Through these packages and accumulated in the automotive
move safely and with peace of mind. semiconductors* that satisfy needs for higher functionality other products, we will contribute to the evolution of field and unique technologies

and smaller sizes of system products. the manufacturing industry. created in non-automotive fields.

* DENSO proprietary integrated semiconductor development,

* RFID：RFID is a system that uses electromagnetic waves to simultaneously scan
from semiconductors to ECUs and actuators.
multiple sales tags without contact.

13 14
 Non-Automotive Businesses: Agriculture
Combining technologies and ideas to contribute to an enriched society
where all people can live safely and with peace of mind

Tomato Cultivation Greenhouse

In addition to our accumulated Business Activities

technologies to control the environment ■ Development, manufacture, and sale of agricultural
in greenhouse cultivation, we will production equipment and cloud services, in addition to
leverage the industrial technologies we the provision of after-sale services.
have cultivated in the automotive field to

/ Create the Future /

accurately assess the food supply chain,
enhance the efficiency of agricultural
production, and realize a safe and stable
supply of food. Features
■ Process design, front-line management, and sophisti-
cated air-conditioning control and sensing technologies
cultivated in the automotive field.

15 16
 Research and
In research and development—a starting point for creating new value
—DENSO is taking steps to further strengthen planning and R&D

Development
by accurately perceiving society’s needs in order to produce competitive products.
Every year we formulate roadmaps that incorporate changes in regulations and
trends in the global community, deciding what R&D themes are to be started or
terminated.

Advanced research focused Commitment to World-First Global R&D structure Strong partnerships
on the future
We have established “contributing to a With technical centers based DENSO provides technologies and
The Advanced Research and Innovation better world by creating value together throughout the world (Japan, the products to the world’s automakers. As
Center were established in 1991. These with a vision for the future” as the United States, Germany, China, the best partner with the best
laboratories are responsible for long- DENSO Philosophy. By keenly ascer- Thailand, India, and Brazil), DENSO solutions, DENSO collaborates with
term R&D and are state-of-the-art taining social changes, we have been transcends the internal and external automakers to meet a wide range of
facilities. At these laboratories, we engaging in product development with boundaries of the Company and end-user needs with technologies and
conduct research and development of a commitment to world-firsts since our collaborates with automakers, research know-how accumulated through the
future technologies looking five to 20 establishment. We have developed over institutions, universities, and other development of new technologies in
years ahead. We perform advanced 130 world-first products, including gas organizations to develop advanced every field.
technology research in a wide range of injection heat pump systems, common technologies and products that meet
fields, from power semiconductors such rail systems, millimeter-wave radar, and the needs of each region.
as silicon carbide (SiC) to key AI ejectors, which have provided us with a
technologies for automated driving, driving force for growth.
which has led to commercialization over
the near term.
Furthermore, in order to advance the
development of competitive products
in accordance with our customers’
needs, we are locating R&D functions
on the front lines of innovation, such as
in Finland and Israel, and establishing
working relationships with various
like-minded partners, including local
universities, research organizations, and
start-up companies.

17 18
 Monozukuri
Since its inception, DENSO has thoroughly integrated in-house technologies.
Through Monozukuri positive steps are taken to design and manufacture equipment,
production lines, materials, and processing methods.
This enables us to provide society with the world’s most advanced groundbreaking
technologies and products conceived by our R&D.

Materials technology that creates things that Production technology that gives shape to DENSO’s First-Class factory IoT* that Quality Assurance that helps protect
don’t exist World-First ideas leverages the knowledge of people precious lives

To pursue product performance and quality, if we don’t have DENSO leverages world-class micro-processing and an We take our abundance of data on people, products, and Early in our history, DENSO established a proving ground and
suitable general purpose materials, we create them. This is assembly line that improves production efficiency and facilities and convert it into valuable information, such as test chambers, which was very unique for an auto parts
part of our commitment to DENSO’s Monozukuri. DENSO’s quality. DENSO also supports world-first products and the information on signs of equipment flaws and information manufacturer. These state-of-the-art facilities, equal to
materials engineers are active on a global scale and world’s highest level of product performance and quality that contributes to expert know-how. We offer such those of auto manufacturers, are used to ensure the quality
collaborate with materials manufacturers to develop from a Monozukuri perspective by designing and information to people that desire it at the times they need it and durability of DENSO products and technologies.
materials that help us achieve world-first products and manufacturing its own equipment and production lines. and in a format that they prefer. By doing so, we are
world-best performance. accelerating activities aimed at making improvements and
contributing to the growth of people. We aim to form global
linkages between our 130 plants in an effort to improve
productivity by 30% on a Groupwide basis.
* Factory Internet of Things

19 20
 Hitozukuri
“The best products are made by the best people.”
DENSO has positioned associates as its most important assets.
That's why DENSO has focused on the training and skill
development of employees based on the idea that human resource development
supports R&D and Monozukuri.

Introducing a global common personnel Developing young employees who will play Nurturing young technicians Development of leaders for the manufacturing
management system to promote the active global roles sector
DENSO believes nurturing advanced engineers and
role of a diverse group of employees
DENSO implements an overseas training program with the technicians who can develop and manufacture innovative In addition to the training for the Group companies in Japan,
In January 2016, DENSO introduced a global common purpose of having employees in their 20s to early 30s products is key to the growth of the company. DENSO has been accepting trainees from overseas since
personnel management system targeting the nearly 2,300 experience different value systems, cultures, and business Based on this concept, we are operating DENSO Industrial 2000 to develop leaders and production supervisors of
members of senior management at its headquarters and at practices and acquire the necessary experience and School (providing the curriculum of technical high school and overseas Group companies and production divisions. (a total
each Group company. knowledge to be active on a global scale. technical college) which takes over the tradition of the of 476 trainees from 32 bases in 12 countries)
This system incorporates a “Global Individual Grade” that Additionally, we are actively increasing the number of technical training school established in 1954. We provide the one-year courses for production engineers,
focuses on the individual capabilities of senior management opportunities for overseas employees to work at our We also support the development of technicians in the production workers, and machine maintenance, aiming at
members. By using a common grading tool to evaluate and headquarters in Japan. In doing so, we are encouraging our domestic group companies and our suppliers. recognition of roles, nurturing strong awareness and
promote its senior staff, DENSO allows its personnel around young employees to develop themselves from a global In overseas, we have established the training facilities at the responsibilities as core human resources, and improving
the world to develop their careers on a global scale. Through perspective. manufacturing bases and are currently providing various knowledge about applied technology in terms of production.
this system, DENSO aims to further develop its global support such as introducing training tools, dispatching We also provide a short-term course for production workers
business by recruiting employees with a diverse range of instructors, and accepting trainees at DENSO Industrial (7 months) for the employees who cannot take a long-term
ideas and abilities. School. course.
Trainees of our training system have become full-fledged As of November 2019 at DENSO Industrial School
young technicians and some of them won the medals in
WorldSkills Competition.
A total of 20 technicians of 10 work categories participated
in the 45th WorldSkills Competition held in Kazan in August
2019 from Japan, Thailand, Indonesia, Vietnam, and Mexico
and won one gold medals, two silver medals, and three
bronze medals.

69
Accumulated Medals Won at All World Skills Competitions

Total number of
medals

GOLD SILVER BRONZE

33 18 18

21 22
 Toward
As vehicles become more connected, the presence of software technologies in the auto
industry is increasing. To enhance our competitiveness in these fields, DENSO

Future Growth
is expanding its expertise within the company, introducing advanced development
opportunities and actively pursuing external collaboration, strengthening our
capabilities and accelerating our overall development speed.

Introduction of advanced development method

Cultivating people in the software technologies In agile development, it is assumed that changes will occur to cannot adopt a conventional approach to development in
specifications and design from the early stages of which requirements are rigorously determined before actual
Innovations such as automated driving and connected vehicles require development. Instead of strictly determining requirements development begins. Rather than waiting until requirements
unique skills and expertise. DENSO is focusing on expanding the from the beginning, agile development starts by breaking are determined to begin the development process, we take an
capabilities of our engineers in software-related technologies as well as development work into small increments based on a flexible agile development approach in which we work together with
optimally assigning teams to the right projects. Through our “Software set of requirements and gradually moving forward with automobile manufacturers to expand functions while receiving
Engineer Grade System,” which visualizes software engineers’ capabilities, development by repeating a process that involves frequent feedback from end-users.
DENSO is working to strengthen the skills of individual engineers and installation and test execution. For example, mobility services, Under an approach of “Creating together with end-users,”
allocate the right talent to the right project. which involve providing transportation methods to people as a DENSO shares the progress of project development with end-
service, represent a new domain for both DENSO and its users once a week. Through this kind of close communication,
customers, who are automobile manufacturers. The needs of we will rapidly establish a cycle of improvement within the
end-users are diverse and change rapidly, which means that we development process.

Systematically cultivating and certifying people in the software technologies, Difference between agile development and conventional development
and allocating the best personnel for each project
Agile development is an optimal development method for meeting the needs of end-users in this era of rapid change.
Current Future
Conventional Development (Waterfall System Development)
Cultivating and Certifying
Few Few

Define conditions Estimations / Orders Development Testing Quality control Service in Response to defects
Development Development
support support
Certification Cultivation Determining requirements Develop things that are only
Method Measures at the initial stages operable at the final stage
Planning and External Planning and
research Knowledge certification research
• In-house education
Number of employees

Number of employees

In-house exams
• Self-study
Agile Development
Systems • External seminars Systems
In-house and information
development certification gathering development Development Development
Skills and in-house Defect New function and in-house New function Defect New function
Completion of Design production Testing Service in production Testing
training repair design service in repair design
IT infrastructure IT infrastructure
Software Software
development • On-the-job training development Only the least amount of Expand functions
Work
Work
experience • Rotation functions necessary while receiving feedback
from end-users
Mass Mass Develop things that are
operable and can be
production production
adapted throughout the
development process
Many Many

23 24
 Strengthen external collaboration (Technologies and talent)

In automated driving and other new domains, response Through these collaborations, we have access to resources
technologies that rely on software are becoming more and technologies that are essential in the short-to-medium
complex and sophisticated, and the speed of technological term, as well as longer-term future technologies and new
innovation is increasing. There is a limit to what can be business models. To attract outstanding talent in software
achieved using only the technologies that are currently technologies, DENSO established a branch office in Tokyo in
available. 2016, followed by an R&D office in Shinagawa, Tokyo, in April
Through collaboration with key business partners, DENSO 2018.
is working to strengthen our technological capabilities and
accelerate our developmental speed by acquiring new
technologies and personnel.

DENSO’s Business Alliance Strategy

Blaize (investment) JOLED Inc. (investment) Renesas Electronics Corporation (investment)

Advanced Metawave Corporation (investment) Toyota Research Institute - Advanced

Global Positioning Augmentation
Development, Inc. (newly established)
Safety / Service Corporation (newly established) Morpho, Inc. (investment)
TriLumina Corporation (investment)
Automated Infineon Technologies (investment) quadric.io (investment)
Driving MIRISE Technologies Corporation Qualcomm Technologies, Inc. Uber Advanced Technologies Group
(collaboration) (investment)
(newly established)

BluE Nexus Corporation TDSG (newly established) eSOL Co., Ltd. (investment) NTT DATA MSE Corporation
(newly established) Software Tokyo Institute of (investment)
Toyota's Hirose Plant*
EV C.A.Spirit Corporation Technology PiNTeam Holding GmbH
(newly established)
(transfer of business) Development /
(industry-academia (investment)
Electrification FLOSFIA INC. (investment) Development collaboration) Toyota Tsusho DENSO
Honeywell International, Inc. Resource Toshiba Information Electronics (Thailand) Co., Ltd
Reinforcement Systems (Japan) (newly established)

/ Sustainability
(collaboration)
Ibiden Co., Ltd. (investment) Corporation (investment)

Airbiquity Inc. (investment) InfiniteKey, Inc. (acquisition) AgriD, Inc. (newly established)
BlackBerry Limited MaaS Global Ltd. (investment) Certhon Build B.V. (investment)

Management /
(collaboration)
NDIAS, LTD. (newly established) DENSO AgriTech Solutions, Inc.
Bond Mobility Inc. (investment) (newly established)
Connected NTT Communiacations Corporate Non-
CREATIONLINE, INC. (collaboration) Iwasaki Co., Ltd. (investment)
Vehicles (investment)
Automotive
Peloton Technology (investment) OPExPARK Inc.
DellFer, Inc. (investment) (newly established)
RideCell, Inc. (investment)
Global Mobility Service, Inc. Triceed-Agri Corporation
(investment) (newly established)

* DENSO Hirose Plant from April 1, 2020

Partnership and industry-academia collaboration: April 1, 2019 to June 1, 2020 (as of the time of announcement)

25 26
 Sustainability
DENSO aims to be a force for good, whether it’s crafting technology that improves the
safety and efficiency of vehicles, or in our sustainable management of all of our facilities.

Management
DENSO has aligned with the United Nations 17 Sustainable Development Goals to
promote prosperity while protecting the planet.

The Environment Peace of Mind

Related SDGs Related SDGs
In order to realize a sustainable mobile society that is eco-friendly and in which all people can DENSO is strengthening our efforts in the fields of factory automation and artificial
experience happiness and peace of mind, DENSO is working to reduce the environmental intelligence. In addition to quality control activities that ensure the delivery of safe and secure
impact of our business activities, while implementing environmental management that products to customers, these fields contribute to the provision of products that realize open
creates economic value through the pursuit of world-leading environmental efficiency and and convenient mobility, which in turn provides peace of mind. These fields also promote
high resource productivity. technological development that helps reduce traffic accidents and traffic safety activities, as
well as address the issue of the declining workforce amid Japan’s population decline.

Major Action Primary Activities TOPIC

DENSO ECO VISION 2025 Quality Assurance
Global Traffic Safety Project
DENSO ECO VISION is an action plan focused on realizing sustainable regions and societies in 2050. This latest ECO VISION DENSO, since its foundation, has promised to
DENSO not only offers products that ensure
sets three targets (Target 3) to be achieved in 2025: ENERGY 1/2; CLEAN × 2; and GREEN × 2. provide safe, reliable, and high-quality services that
safety, it also implements traffic safety educational
The Company will also promote 10 specific actions (Action 10) to realize these three targets in the respective categories of will satisfy customers' needs and earn their trust. activities, which are carried out by employees,
products, production (factories), associates (employees), and management. We have designated the “thorough implementation for members of local communities around the
of the Quality First principle, the practice of quality world. These activities focus on traffic accidents
assurance from the beginning of production, and the and aim to offer peace of mind to those most
promotion of quality control with full employee vulnerable to accidents, including children and the
Three Targets (Target 3) Action 10 elderly (educational activities commenced in fiscal
participation” as our basic quality assurance policies,
Vision Sensor 2016 and, as of fiscal 2020, have been carried
and we are promoting the “Customer First” principle
ENERGY CLEAN GREEN out by 95 Group companies, including DENSO
Aim to halve CO 2 emissions in our product creation. CORPORATION, in Japan and 16 other countries
through technologies that
resolve global warming as and regions around the world).
Products

Our employees act as models for practicing

Eco materials &
well as energy and resource
Ultimate New green
fuel efficiency low emissions technologies
issues traffic safety and work to form connections with
local communities. By doing so, we believe we
Aim to halve the amount of
Production

can encourage people around the world to give

environmentally hazardous
Minimum CO 2 Minimum Nature rich
impact
consideration to sustainability.
substances, discharge, and
Monozukuri workplace
production
waste through the continu-
ous promotion of improve-
Associates

ments
Low carbon Earth conscio- Environmental
lifestyle & usness,know- volunteer action
transport ledge & skills
Aim to create environ-
ment-friendly communities
Management

through business activities

Environmental
Millimeter-Wave Radar Sensor
that realize a harmonious
value efficient
management A nighttime pedestrian model used in our assessment of
coexistence with nature collision avoidance braking systems

27 28
 Corporate Foundation Social Contribution Activities（ Volunteer）
Related SDGs
To conduct sound and stable business activities and realize sustainable growth amid the As a good corporate citizen, DENSO proactively undertakes community-based social contribution
rapidly changing business environment, a solid corporate foundation is essential. To this activities with the objective of contributing to society’s sustainable development. We want to be
end, DENSO is engaged in efforts to promote the active role of its personnel and to known as a good corporate neighbor, trusted by our communities.
enhance the motivation of its employees through health management and other
measures to ensure they are able to use their abilities to the greatest extent possible.
DENSO is also working to strengthen information security and compliance. Efforts such
as these help ensure that the Company does not damage its corporate value.
Symbiosis with the environment Safe and reliable urban development Cultivating people

Aiming to foster children’s

Primary Activities Primary Activities Preserving the rich, abundant For a society where people can
Promoting diversity & inclusion Health and productivity management* creativity and realize a
1
nature of each community live with peace of mind
barrier-free society
We value new ideas that are created by our employees with Good physical and mental health is essential for ensuring the In addition to promoting DENSO carries out a range of activities DENSO carries out various initiatives
diverse backgrounds, and we believe that nurturing kindhearted, happiness of our employees and their families, and provides the environmentally friendly manufacturing to ensure that people can live with generating community interest with the
thoughtful employees who respect each other’s individuality is source for working in a lively and energetic manner. as part of our business activities, as a peace of mind, including traffic safety aim of providing local children with
essential for realizing sustainable growth. To this end, we are DENSO positions promoting the health of its employees as an corporate citizen DENSO also and crime prevention activities and opportunities to experience the
promoting diversity and inclusion, which involves making full use important management task, and announced its Health undertakes environmental preservation support for areas affected by natural fascination and joy of creating things
of the skills and perspectives of our employees around the world Declaration in September 2016. At the same time, to encourage activities in the local community. disasters. In 2014, a group of (manufacturing) as well as promoting
in order to realize an organizational environment and culture that activities that promote employee health and raise the level of employees was formed to carry out the independence of people with
embraces all individuals, regardless of gender, age, nationality, health awareness in the workplace, DENSO is working to enhance traffic safety educational activities on a various disabilities.
disability, sexual orientation, career history, and value systems. its health-related initiatives from the perspective of both physical voluntary basis.
and mental health.
As a result of such efforts, DENSO was included in the Health &
Productivity Stock Selection,*2 a joint initiative carried out by the
Ministry of Economy, Trade and Industry (METI) and the Tokyo
Stock Exchange (TSE), as well as the Superior Health &
Productivity Companies (the White 500) Program,*3 which is
promoted by the TSE and the Nippon Kenko Kaigi (Japan Health
Council), for the fourth year in a row. In addition, 1 2 domestic
Group companies have also been included in the White 500
Program.
*1 “Health and productivity management” is a registered trademark of the NPO
Kenko Keiei Kenkyukai. *2 The Health & Productivity Stock Selection selects listed
companies on the TSE that strategically consider and implement health and
productivity management for their employees as a top management priority. The
Health & Productivity Stock Selection introduces the selected corporations as an
attractive investment option for investors who prioritize the improvement of
corporate value from a long-term perspective. Through this effort, METI and the TSE
aim to encourage corporations to further pursue efforts in “health and productivity
management.” *3 The Superior Health & Productivity Companies (the White 500) SAY NO PLASTIC BAGS drive (Thailand) Traffic safety education (USA) Supporting the sports for the challenged
Program is not restricted to listed companies and recognizes corporations that
implement superior health and productivity management in collaboration with insurers such as
health insurance associations. This program commenced in 2017.

29 30
 Sports
Soon after the company’s foundation in the 1950s,
DENSO began establishing sporting clubs with the aim of “Generating energy

Activities
in the workplace”. Today, the entire DENSO group in Japan is supporting teams
and individual athletes in a variety of sports under the motto of
“Let’s move hearts together through sports.”

Reasons Why We Make Efforts in Sports

Encouraging our employees Creating connections with local communities
Through the emotions, excitement, We wish to deepen our interaction
and inspiration that come from with local communities by offering
sports, we aim to increase the excitement to people living near
vitality of the workplace. Company offices and sharing with
them our dreams and energy.

Making progress together with the sports industry Passionately enhancing our technological capabilities
We hope to realize people’s dreams We develop and provide products to
by supporting teams and athletes the teams we sponsor. Through the
that are active on a global stage. support we have continued to offer
Through sports, we will show our to motorsports since the 1960s, we
gratitude toward society. have been pursuing outstanding
levels of quality and world-leading
advanced technologies.

[Basketball] Teams and Athletes Representing DENSO

DENSO Iris [Boating] DENSO Boating Club
[Nine-member volleyball]
DENSO TEN Red Phoenix

/ Sports Activities of
[Short-distance running]
Mariko Nagano, Miki Sugiyama
Hinami Yamanaka
[Alpine skiing] Konatsu Hasumi

DENSO Group /
[Ice hockey] Nana Fujimoto
[Archery] Ren Hayakawa

[Volleyball] [Softball] [Long-distance running] [Table tennis]

DENSO Airybees DENSO Bright Pegasus DENSO Fleet Serose DENSO Polaris

31 32
 Thermal Systems

Car Air-conditioner Condenser Evaporator

Heater Core Water Cooled Intercooler Radiator

/ Products /

Electric Refrigerator for Truck Electric Compressor Electric Bus Air-conditioner

33 34
 Powertrain Systems Electrification Systems

Direct Injection High Pressure Direct Injection High Pressure Variable Cam Timing Inverter Motor Generator Battery Pack
Injector Pump

Iridium Spark Plug Ignition Coil Oxygen Sensor Alternator Starter Lithium-Ion Battery Electronic
Control Unit

Substrate Common Rail Systems Accelerator Pedal Module Electric Power Steering Motor Wiper System Power Window Motor

35 36
 Mobility Electronics Sensor & Semiconductor

Stereo Vision Sensor Millimeter-Wave Radar Sensor Instrument Cluster Solar Sensor Matrix IR Sensor Intake Air Pressure Sensor

Head-Up Display Unit Driver Status Monitor Telematics Control Unit Engine Oil Level Switch Steering Torque Sensor Wheel Speed Sensor
DCM (Data Communication Module)

ETC2.0 On-Board Equipment 11.6-inch Touch Display Engine ECU Rain Sensor Power Module for Automobiles SiC Power Device for Audio

37 38
 Non-automotive business (Factory Automation, Agriculture, Industry/Home)

Automated Modules Vertical Articulated Robot Collaborative Robot

QR Solution Services Automated Harvesting Robot Environmental Control Systems for

(Under verification testing) Greenhouse Cultivation

/ History of DENSO /
Spot Cooler HEMS CO2 Refrigerant Heat-Pumps
(Home Energy Management System)

39 40
 1994
History of DENSO 1972
1961 Adopted the DENSO

1984
Philosophy
2005
Established NIPPONDENSO

1949 1954 Received the Deming

Prize, one of the most 1968 (AUSTRALIA) PTY. LTD., and
NIPPONDENSO THAILAND
We adopted a philosophy
that meets the needs of the
Opens Nukata
Established the prestigious awards for modern world, based on our Established DENSO
NIPPON ELECTRICAL Established the IC CO., LTD., our first Proving Ground Developed QR code
Technical Training quality control original mission statement Training Academy
EQUIPMENTS CO., LTD, Research Center manufacturing companies technology
Center We opened a test course at (our corporate philosophy Thailand, our first
later changed its name The efforts made by all of located outside of Japan since our founding). It
In-house R&D of integrated a comparatively early stage QR codes make high- overseas regional training
to NIPPONDENSO CO., The principles of our employees to win the circuits (IC) was launched at for a parts manufacturer. reminds us of our corporate
We decided to manufacture speed reading possible, center
LTD., split from Toyota "Monozukuri is Hitozukuri prize laid the foundations an early stage, in anticipation products near to our We have evaluation facilities philosophy of contributing which is particularly
Motor Co., Ltd., and (our performance relies for our culture based on the of electronic control for customers, in order to better equivalent to those of to the world through our A system was established
helpful as production

2017
concept of "Quality First." technologies and products.
was established as a on our people)" and automotive components. meet their needs. automakers, to help us sites increasingly shift to provide education for
separate entity "engineering and technique, Today, electronic ensure product performance toward producing a engineers and technicians at
hand in hand" are still being components are some of the and quality that exceeds our wider range of products. a regional level, rather than
practiced today. main products that we sell. customers’ expectations. just at the global head office. Created the DENSO
Group Long-term
Policy 2030

The slogan of this plan

is “Bringing hope for the
NIPPONDENSO’ s main building Manufacturing company in future for our planet,
at the time of establishment. The Deming Prize medal. Thailand at time of establishment. society and all people.”

1953 1956 1966 1971 1977 1991 1996 2016

Started technical Created the mission Established a sales Established NIPPONDENSO OF Received our first Opened DENSO Adopted our new Created DENSO ECO
cooperation with statement on which office in Chicago and LOS ANGELES, INC., our first WorldSkills Competition Research Laboratories corporate name, DENSO VISION 2025
Robert Bosch GmbH of DENSO is founded branch offices in Los overseas sales company gold medal CORPORATION
We carry out R&D on new This action plan aims to
Germany Angeles, USA technologies that may
It was established in order Operations outside of Japan helped Since our founding we have The company name tackle issues such as the
to maintain and further The first sales office us enhance our engineering capa- continually invested resources emerge in the next five was changed from environment and energy
This agreement allowed
develop the spirit of our outside of Japan was bilities and increase the commercial into skills training, and it to 20 years. Our research NIPPONDENSO to DENSO. usage.
us to expand our technical
founding. established in anticipation value of our products. has produced great results. covers a range of topics, Removing "Nippon ," the
expertise using knowledge
of global trends such as DENSO has earned more than from semiconductor Japanese word for Japan,
from outside the company,
trade liberalization. 60 WorldSkills medals since materials to microalgae reflects our aims of being a
to achieve world-class
1977, and the recipients of that produce oil. truly global company.
engineering.
these medals work together
with engineers to develop
technologies, and bring our
products from prototype to
production.

DENSO meets with overseas

manufacturers.

41 42
1-1, Showa-cho, Kariya, Aichi 448-8661, Japan Global LinkedIn Integrated
Tel +81-566-25-5511 (Information Center) Site Report

Regional Headquarters

North America Europe

24777 Denso Drive, P.O. Box 5047, Southfield, World Trade Center, Tower I, 4th Floor Strawinskylaan 1865,
Michigan 48033-5244, U.S.A. 1077 XX, Amsterdam, The Netherlands
Tel +1-248-350-7500 Tel +31-202-261789
h ps://www.denso.com/us-ca/en/

Asia China

888 Moo 1, Bangna-Trad Km. 27.5, Tambol Bangbo, Room No. 518, The Beijing Fortune Building,
Amphur Bangbo, Samutprakarn 10560, Thailand No. 5 Dong San Huan Bei Lu,
Tel +66-2-315-9500 Fax +66-2-315-9559 Chaoyang District, Beijing, 100004, China
Tel +86-10-6590-8337 Fax +86-10-5758-2781
h ps://www.denso.com/cn/zh/

51 Science Park Road, #01-19 The Aries,

Science Park Ⅱ, 117586, Singapore
Tel +65-67768268 Fax +65-67768698 DENSO is making efforts
for accomplishing the globally shared SDGs.

8701PK-012
July, 2020
 As of March 31, 2020

Company Profile

Company name DENSO CORPORATION

Established December 16, 1949

Head Office 1-1, Showa-cho, Kariya, Aichi 448-8661, Japan

Capital ¥187.5 billion

Revenue Consolidated basis ¥5,153.5 billion (US$47.6 billion) * 1

Operating Profit Consolidated basis ¥61.1 billion (US$563.8 million) * 1

Profit * 2 Consolidated basis ¥68.1 billion (US$628.6 million)*1

Employees Consolidated basis： 170,932

Non-consolidated basis：45,280

Consolidated Subsidiaries 200

(Japan 64, North America 23, Europe 32, Asia 74, Others 7)

Affiliates under the Equity 88

Method (Japan 24, North America 11, Europe 17, Asia 32, Others 4）

Fiscal Year From April 1 to March 31

DENSO website *1: U.S. dollar amounts have been translated, for convenience only, at the rate of 108.33 yen = US$1, the approximate exchange rate
prevailing on March 31, 2020. Billion is used in the American sense of one thousand million.
*2: Profit attributable to owners of the parent company.

01 02
 Consolidated Revenue by Business Group Sales of Business Partners

3.5%
Non-automotive Business
(Factory Automation / Agriculture, etc.)

6.3%
Aftermarket / Non-automotive Business
Other Automotive
11.5%
2.7%
Thermal Systems
Sensor & Semiconductor
24.8%

TOYOTA Group:

21.5%
5,153.5 5,153.5
TOYOTA, DAIHATSU, HINO

47.7%
Mobility Electronics Others
21.6%
billion yen billion yen
April 2019 - March 2020
Powertrain Systems SUBARU 2.5% April 2019 - March 2020

23.7% FORD 2.5%

GM 3.1%
Electrification Systems HONDA
17.4% FCA 3.6% 7.6%

Revenue Operating Profit Profit Total Assets

(billion yen) 5,362.8 (billion yen) (billion yen) (billion yen)
5,108.3 5,153.5 320.6
5,000 412.7 6,000 5,764.4 5,792.4 5,651.8
4,524.5 4,527.1 400 300
5,042.9 5,150.8
257.6 254.5
330.6 244.3 5,000
4,000 315.7 316.2
300
4,000
200
3,000

200 3,000
2,000
100 2,000
68.1
100
1,000 61.1
1,000

0 0 0 0
2016 2017 2018 2019 2020 (fiscal year) 2016 2017 2018 2019 2020 (fiscal year) 2016 2017 2018 2019 2020 (fiscal year) 2016 2017 2018 2019 2020 (fiscal year)

03 04
 Global Network
As of March 31, 2020

Europe Japan
Including DENSO CORPORATION
North America
Companies Companies Companies

32 65 23
Employees Employees Employees

16,254 77,589 25,117

Revenue Revenue Revenue
Asia Others
583.3 Companies
3,263.5 1,176.3 Companies
billion yen billion yen billion yen
74 7
Employees Employees

49,139 2,833
Revenue Revenue

1,278.5 60.7
billion yen billion yen

Revenue by Segment
Europe Asia Japan North America Others
(billion yen) (billion yen) (billion yen) (billion yen) (billion yen)
1,416.4
662.3 652.5 1,322.8 3,266.0 3,263.5 *T he number of employees
1,278.5 3,083.8 79.0
600 583.3 1,200 3,000 1,156.3 1,212.4 1,176.3 80 72.7 excludes personnel
1,200
dispatched to consolidated
60.7 companies but includes
60
personnel on loan from
400 800 2,000 800 consolidated companies.
40 Temporary staff are also
excluded from the number of
200 400 1,000 400
20 employees.

*Consolidated revenue is from

0 0 0 0 0 external customers.
2018 2019 2020 (fiscal year) 2018 2019 2020 (fiscal year) 2018 2019 2020 (fiscal year) 2018 2019 2020 (fiscal year) 2018 2019 2020 (fiscal year)

05 06
 DENSO CORPORATION Main Facilities in Japan Group Companies
As of March 31, 2020 DENSO Website
〈Global Network〉

Japan
As of April 1, 2020
Headquarters / Plants / Laboratories Employees Main Business

Headquarters 14,012 -
Anjo Plant 3,362 Manufacture of Starters, Alternators, Inverter, and MG 3D INCORPORATED DENSO KATSUYAMA CO., LTD. DENSO WELL CORPORATION
Manufacture of Car air-conditioners, Radiators, Electronic diesel/gasoline fuel ANDEN CO., LTD. DENSO KYUSHU CORPORATION DENSO WIPER SYSTEMS, INC.
Nishio Plant 7,332
injection components APINES CO., LTD. DENSO LOGITEM CORPORATION DENSO WISETECH CORPORATION
Manufacture of Instrument cluster, Head-up display, Millimeter-wave radar sensor, AUBASS CO., LTD. DENSO MIYAZAKI, INC. DENSO YAMAGATA CO., LTD.
Takatana Plant 3,015
Vision sensor, various sensors components
DENSO ABASHIRI TEST CENTER CORPORATION DENSO MTEC CORPORATION DENSO YUSEN TRAVEL CORPORATION
Kosai Plant 3,822 Manufacture of Compact motors for wiper systems, Power windows, etc.
DENSO AIR SYSTEMS CORPORATION DENSO NEXT CO., LTD. HAMADEN P & S CO., LTD.
Manufacture of Ignition components, Advanced safety products, Valve train
Daian Plant 4,666 components, Exhaust emission control components DENSO AIR SYSTEMS TOYOSHINA CORPORATION DENSO POWERTRAIN TECHNOLOGIES CORPORATION HAMANAKODENSO CO., LTD.
DENSO AIR SYSTEMS YASAKA CORPORATION DENSO PRESS TECH INC. IPICS CORPORATION
Kota Plant 3,448 Manufacture of Integrated circuits and Electronic control components
DENSO AIRCOOL CORPORATION DENSO REMANI CORPORATION J-QuAD DYNAMICS INC.
Manufacture of Air conditioners and Water pump for fuel-cell vehicle and Servo
Toyohashi Plant 1,144 DENSO AIRCOOL OTARI CORPORATION DENSO SEIBI CO., LTD. KYOSAN DENKI CO., LTD.
motor module and Natural refrigerant (CO2) heat-pump hot water supply systems
DENSO BLOSSOM CO., LTD. DENSO SERVICE NISHISAITAMA CO., LTD. KYOSAN SERVICE CORPORATION
Hirose Plant * 1,113 Manufacture of Inverter, ECU and Power semiconductor
DENSO COMMUNICATIONS CORPORATION DENSO SERVICE OKINAWA CO., LTD. KYOSAN TECS CO., LTD.
Agui Plant 870 Manufacture of machinery and tools
DENSO CREATE, INC. DENSO SI CORPORATION MAULTECH CORPORATION
Toyohashi East Plant 789 Manufacture of Compact motors for blowers, Cooling fans, etc.
DENSO DAISHIN CORPORATION DENSO SOLUTION JAPAN CORPORATION MIRISE Technologies Corporation
Zenmyo Plant 939 Manufacture of Electronic diesel fuel injection systems DENSO EMC ENGINEERING SERVICE CORPORATION DENSO TAIYO CO., LTD. NSITEXE, INC.
Higashi Hiroshima Plant 89 Manufacture of Compact motors for wiper systems, Washer systems, etc. DENSO FA YAMAGATA CO., LTD. DENSO TECHNO CO., LTD. SANKYO RADIATOR CO., LTD.
Research on advanced functional materials, electronics materials, AI, ergonomics, DENSO FACILITIES CORPORATION DENSO TEN Limited SHIMIZU INDUSTRY CO., LTD.
Advanced Research and Innovation Center 487 etc.
DENSO FINANCE & ACCOUNTING CENTER CO., LTD. DENSO TEN STAFF Limited SOKEN, INC.
Global R&D Tokyo R&D of advanced driver assistance, connected cars, and in-vehicle electronic
286 systems DENSO FUKUSHIMA CORPORATION DENSO TEN TECHNOLOGY Limited TD MOBILE CORPORATION
Global R&D Tokyo, Haneda (July, 2020 open) R&D and demonstration of automated driving DENSO HOKKAIDO CORPORATION DENSO TEN TECHNOSEPTA Limited
Nukata Proving Ground 30 Test driving for automotive components DENSO IT LABORATORY, INC. DENSO TRIM CORPORATION

Engineering Education Center in Obu 32 Planning, organization, and promotion of measures to train engineers DENSO IT SOLUTIONS, INC. DENSO UNITY SERVICE CORPORATION
DENSO IWATE CORPORATION DENSO WAVE INCORPORATED
Shin-Yokohama Innovation Laboratory 30 Technology development in the MaaS field
Akihabara Innovation Laboratory ** 5 Technology development in connected services
* Transferred from Toyota Motor Corporation in April 2020 ** Opened in April 2020

Offices / Divisions / Branches

Tokyo Office Osaka Division Iwate Branch

Tokyo Division Hiroshima Division Kobe Branch
Tokyo Division Utsunomiya Office Nagoya Office Nagoya South Branch

07 08
 Group Companies DENSO Website
〈Global Network〉

North America Europe

As of March 31, 2020
Remarks : Below table shows ʻCountry or Region nameʼ. Remarks : Below table shows ʻCountry or Region nameʼ.

USA DENSO INTERNATIONAL AMERICA, INC. Canada DENSO MANUFACTURING CANADA, INC. Nether- DENSO INTERNATIONAL EUROPE B.V. Poland DENSO POLAND Sp. z o.o.
lands
DENSO AIR SYSTEMS MICHIGAN, INC. DENSO SALES CANADA, INC. DENSO EUROPE B.V. DENSO THERMAL SYSTEMS POLSKA Sp. z o.o.

DENSO MANUFACTURING ARKANSAS, INC. DENSO TEN CANADA Limited

DENSO MANUFACTURING ATHENS TENNESSEE, INC. Belgium DENSO BELGIUM N.V. Portugal AUTO RADIADORES JDEUS, LDA.

DENSO MANUFACTURING MICHIGAN, INC. Mexico ASMO MANUFACTURING DE MEXICO, S.A. DE C.V. AUTO RADIADORES DAS BEIRAS, LDA.
DENSO MANUFACTURING NORTH CAROLINA, INC. DENSO AIR SYSTEMS DE MEXICO S.A. DE C.V. Czech DENSO CZECH s.r.o. JOAO DE DEUS & FILHOS, S.A.
Republic
DENSO MANUFACTURING TENNESSEE, INC. DENSO MEXICO S.A. DE C.V. DENSO MANUFACTURING CZECH s.r.o. Radinorte - SOCIEDADE DE RADIADORES DO NORTE, LDA.
DENSO PERSONNEL SERVICE AMERICA, INC. DENSO TEN MEXICO, S.A. DE C.V. LIPLASTEC s.r.o. SULRADIADORES, UNIPESSOAL, LDA.
DENSO PRODUCTS AND SERVICES AMERICAS, INC. HAMADEN MEXICO S.A. DE C.V.

DENSO REINSURANCE AMERICA, INC. France DENSO AUTOMOTIVE FRANCE S.A.R.L. Russia DENSO SALES RUS L.L.C.
DENSO TEN AMERICA Limited
DENSO TEN TECHNOSEPTA USA, Limited Germany DENSO ADAS Engineering Services GmbH Spain DENSO BARCELONA S.A.
KYOSAN DENSO MANUFACTURING KENTUCKY, LLC DENSO AUTOMOTIVE Deutschland GmbH DENSO SISTEMAS TERMICOS ESPANA S.A.
SYSTEX PRODUCTS ARKANSAS COMPANY DENSO TEN EUROPE GmbH FUJITSU TEN ESPANA, S.A.
SYSTEX PRODUCTS CORPORATION DENSO WAVE EUROPE GmbH

Sweden DENSO SWEDEN AB

Hungary DENSO MANUFACTURING HUNGARY LTD.

Turkey DENSO OTOMOTIV PARCALARI SANAYI A.S.

Italy DENSO ITALY S.R.L.

DENSO MANUFACTURING ITALIA S.p.A. UK DENSO AUTOMOTIVE UK LTD.

DENSO THERMAL SYSTEMS S.p.A. DENSO MANUFACTURING UK LTD.

DENSO MARSTON LTD.

Morocco DENSO THERMAL SYSTEMS MOROCCO S.A.R.L.

09 10
 Group Companies DENSO Website
〈Global Network〉

Asia
As of March 31, 2020

Remarks : Below table shows ʻCountry or Region nameʼ.

China DENSO (CHINA) INVESTMENT CO., LTD. Singapore DENSO INTERNATIONAL ASIA PTE. LTD. India DENSO INTERNATIONAL INDIA PVT. LTD. Philippines DENSO PHILIPPINES CORPORATION

DENSO (CHANGZHOU) FUEL INJECTION SYSTEM CO., LTD. DENSO TEN SINGAPORE Private Limited DENSO HARYANA PVT. LTD. DENSO TECHNO PHILIPPINES, INC.

DENSO (GUANGZHOU NANSHA) CO., LTD. DENSO WAVE SINGAPORE PTE. LTD. DENSO INDIA PVT. LTD. DENSO TEN PHILIPPINES CORPORATION

DENSO (TIANJIN) BODY PARTS CO., LTD. DENSO KIRLOSKAR INDUSTRIES PVT. LTD. DENSO TEN SOLUTIONS PHILIPPINES CORPORATION
DENSO (TIANJIN) THERMAL PRODUCTS CO., LTD. Thailand DENSO INTERNATIONAL ASIA CO., LTD. DENSO SUBROS THERMAL ENGINEERING CENTRE INDIA PVT. LTD. DIEZ CORPORATION
DENSO AUTO PARTS SALES (TIANJIN) CO., LTD. AIR SYSTEMS (THAILAND) CO., LTD. DENSO TEN MINDA INDIA Private Limited QUINTESSENTIAL PROPERTIES DEVELOPMENT CO., LTD.
DENSO FA SHANGHAI Co.,Ltd. ANDEN (THAILAND) CO., LTD. DENSO THERMAL SYSTEMS PUNE PVT. LTD.
DENSO AIR SYSTEMS TIANJIN CO., LTD. DENSO (THAILAND) CO., LTD. UAE DENSO SALES MIDDLE EAST & NORTH AFRICA FZE.
DENSO KOTEI AUTOMOTIVE ELECTRONICS (WUHAN) CO., LTD. DENSO SALES (THAILAND) CO., LTD. Indonesia PT. DENSO INDONESIA

DENSO MANUFACTURING (HANGZHOU) CO., LTD. DENSO TEN THAILAND Limited PT. DENSO MANUFACTURING INDONESIA Viet Nam DENSO MANUFACTURING VIETNAM CO., LTD.

DENSO MANUFACTURING (TIANJIN) MOTOR CO., LTD. DENSO TOOL & DIE (THAILAND) CO., LTD. PT. DENSO SALES INDONESIA HAMADEN VIETNAM CO., LTD.

DENSO SHANGHAI SMART MOBILITY TECHNOLOGY CO., LTD. SIAM DENSO MANUFACTURING CO., LTD. PT. DENSO TEN AVE INDONESIA

DENSO TEN (CHINA) Limited SIAM KYOSAN DENSO CO., LTD. PT. DENSO TEN MANUFACTURING INDONESIA

DENSO TEN ELECTRONICS (WUXI) Limited Toyota Tsusho DENSO Electronics (Thailand) Co., Ltd. PT. HAMADEN INDONESIA MANUFACTURING

DENSO TEN PRECISION ELECTRONICS (TIANJIN) Limited

DENSO TEN RESEARCH AND DEVELOPMENT (TIANJIN) Limited Australia DENSO AUTOMOTIVE SYSTEMS AUSTRALIA PTY. LTD. Malaysia DENSO (MALAYSIA) SDN. BHD. Others Remarks : Below table shows ʻCountry or Region nameʼ.

DENSO TEN TRADING (TIANJIN) Limited DENSO INTERNATIONAL AUSTRALIA PTY. LTD. NIPPON WIPER BLADE (M) SDN. BHD.

GONGCHENG DENSO (CHONGQING) CO., LTD. DENSO TEN AUSTRALIA PTY. Limited Argentina DENSO MANUFACTURING ARGENTINA S.A.

GUANGZHOU DENSO CO., LTD. Myanmar DENSO MYANMAR CO., LTD.

TIANJIN DENSO ELECTRONICS CO., LTD. Cambodia DENSO (CAMBODIA) CO., LTD. Brazil DENSO DO BRASIL LTDA.

TIANJIN DENSO ENGINE ELECTRICAL PRODUCTS CO., LTD. PIT & GO AUTOMOTIVE SERVICE (CAMBODIA) CO., LTD. Republic of DENSO KOREA CORPORATION DENSO INDUSTRIAL DA AMAZONIA LTDA.
Korea
TIANJIN FAWER DENSO AIR-CONDITIONER CO., LTD. SANKYO RADIATOR (CAMBODIA) CO., LTD. DENSO TEN KOREA Limited DENSO MAQUINAS ROTANTES DO BRASIL LTDA.

TIANJIN FUJITSU TEN ELECTRONICS CO., LTD. KOREA WIPER BLADE CO., LTD. DENSO SISTEMAS TERMICOS DO BRASIL LTDA.

TIANJIN SHIMIZU PENG YING PLASTICS CO., LTD. DENSO TEN DO BRASIL LTDA.

WUXI DENSO AUTOMOTIVE PRODUCTS CO., LTD.

YANTAI SHOUGANG DENSO CO., LTD. South DENSO SALES SOUTH AFRICA (PTY), Limited
Africa

Taiwan DENSO TAIWAN CORP.

11 12
 Directors and Audit & Supervisory Board Members

Directors President & CEO* Executive Vice President* Audit & Audit & Supervisory Audit & Supervisory

＜Member of the Board＞ Koji Arima Yasushi Supervisory

Board Member Board Member

Yamanaka Atsuhiko Motomi Niwa

Board
*Representatives

Shimmura
Members

Executive Vice President* Executive Vice President Outside Audit & Outside Audit &
Hiroyuki Sadahiro Usui Supervisory Board Supervisory Board

Wakabayashi Member Member

Yasuko Gotoh Haruo

Kitamura

Member of the Board Outside Member of

Akio Toyoda the Board
George Olcott

Outside Member of Outside Member of

the Board the Board
Shigeki Yuko Mitsuya
Kushida

13 14
July, 2020