DENSO Establishes Regional Headquarters in China
JapanCorp: <http://www.japancorp.net/?page_num=1> DENSO Establishes Regional Headquarters in China Tokyo, Japan, Mar. 24, 2003 - (JCN Newswire) - DENSO Corporation announced today the establishment of a new, DENSO wholly-owned holding company functioned as a regional headquarters in China. Located in Beijing, China, DENSO (China) Investment Co., Ltd. was established in February 2003. Currently, DENSO operates six manufacturing companies in China that manufacture automotive products for the Chinese auto industry including car air conditioners and electric components. Ownership of the six companies will be transferred to the new company by the end of March 2004. "We hope by consolidating and strengthening all sales functions within one company, it will create a framework for sales expansion. In addition, DENSO plans to integrate administrative functions including accounting, information systems and logistical affairs to establish a more efficient business operation over the next three years." said Hiroshi Uchiyama, senior managing director of DENSO Corporation and in charge of DENSO Sales Group. Uchiyama continued, "By 2010, China is forecasted to more than double the 3.25 million vehicle output of 2002. Such predictions also expected to see dramatic growth, possibly making China the largest car producing country in the world next to America and Japan. Our customers are already expanding their businesses in this fast growing market. DENSO recognizes the urgent need to enhance our sales and supply systems in China." Currently, DENSO operates six manufacturing companies in People's Republic of China 1) Yantai Shougang DENSO Co., Ltd., Yantai, Shandong Province, People's Republic of China (business lines: manufacture and sale of air conditioners,; 30 percent DENSO's ownership; 270 employees), 2) Tianjin DENSO Engine Electrical Products Co., Ltd., Tianjin, People's Republic of China (business lines: manufacture and sale of alternators and starters; 40 percent DENSOfs ownership; 435 employees), 3) Chongqing DENSO Co., Ltd., Chongqing, People's Republic of China (business lines: manufacture and sale of magnetos, CDI amplifiers and ignition coils; 50 percent DENSO's ownership; 113 employees), 4) Tianjin DENSO Electronics Co., Ltd ., Tianjin , People's Republic of China (business lines: manufacture and sale of automotive electronic control components; 85.9 percent DENSO's ownership; 63 employees), 5) Tianjin DENSO Air-Conditioner Co., Ltd ., Tianjin, People's Republic of China (business lines: manufacture and sale of air conditioners; 51 percent DENSO's ownership; 216 employees). Tianjin ASMO Automotive Small Motor Co., Ltd., Tianjin, People's Republic of China (business lines: manufacture and sale of small motors; 11.25 percent DENSO's ownership; 576 employees). About DENSO Corporation DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 87,000 people in 31 countries and regions, including Japan. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan.For further information, please visit the DENSO Corporation home page at: www.denso.co.jp/index-e.html <http://www.denso.co.jp/index-e.html> Contact DENSO Corporation Yoko Suga yoko_suga@notes.denso.co.jp +81-566-25-5592 _____ Mar. 24, 2003, 14:13 (JST) Source: DENSO Corporation DENSO Corporation www.denso.co.jp/index-e.html <http://www.denso.co.jp/index-e.html> From the Japan Corporate News Network www.japancorp.net <http://www.japancorp.net> Topic: Construction of Facility Sectors: Auto Parts & Equipment, Trade & Commerce General © 2003 JCN Newswire. A division of Japan Corporate News Network KK. All rights reserved.