DENSO and Robert Bosch GmbH Establish Joint Venture For Car Navigation Component and Car Multimedia Development

TOKYO, April 14 -- DENSO Corporation and Robert Bosch GmbH today announced an agreement to establish a new joint venture to be headquartered in Kariya City, Aichi, Japan, with an office in Hildesheim, Germany.

The new company -- Advanced Driver Information Technology Corporation -- will develop navigation and multimedia-related components for both parent companies.

In order to adapt to emerging customer needs, the company will initially focus on the development of several different items to be used worldwide: navigation system LSIs, multimedia-compliant software platforms and map data formats.

Both DENSO and Blaupunkt GmbH, a 100-percent owned subsidiary of Robert Bosch, will own 50 percent of the new company with a capital investment of approximately 200 million yen (US$1.7 million or 1.6 million euro). Research and development at the new company will begin in June 2003.

DENSO began creating navigation technology in the early '80s. DENSO marketed its first navigation system for the Japanese market in 1984. The North American and European markets quickly followed.

"By establishing this new company, we are combining both DENSO and Blaupunkt technology to help create a new generation of navigation. After its creation, we will meet customers' needs for globalization as well as their need for new navigation multimedia features," said Mitsuharu Kato, director and board member for the ITS Division at DENSO. "We see this as an opportunity to enhance the superiority of our products, to increase development speed to the growing market and save development costs."

Dr. Klaus Dieterich, executive vice president, Blaupunkt, said, "The new joint venture will create a powerful and competitive platform for both DENSO's and Blaupunkt's new generation of navigation and multimedia products. Based on leading edge technology, both companies will be in a position to offer the car manufacturers worldwide solutions for a rapidly growing global market."

Blaupunkt GmbH, a wholly owned subsidiary of Robert Bosch GmbH, is a market leader of car radios in Europe. Its headquarters is in Hildesheim, Germany. Blaupunkt has 7,500 employees around the world and produces car radios, car-loudspeakers and navigation systems. In 2002, worldwide sales were more than 1 billion euros.

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, including Japan. Consolidated global sales for the fiscal year ended March 31, 2002 totaled US$18.1 billion* (2,401,098 yen or 20.7 billion euros). In North America, DENSO employs 14,000 people at 25 locations with consolidated sales for the same fiscal year totaling $4.7 billion*. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges.

* Figures for the fiscal year ended March 31, 2002 include the effect of an irregular 15-month reporting period, due to 45 overseas subsidiaries and overseas affiliates changing their year-ends to March 31 from December 31.

  New Company Profile
  Company Name:  Advanced Driver Information Technology Corporation
  Planned Date of Establishment:  May 2003
  Headquarters:  1-1 Showa-cho, Kariya-shi, Aichi-ken (at DENSO Corporation
                 headquarters)
  Share Capital:  100 million yen (US$830,000 or 800,000 Euro)
                  DENSO and Blaupunkt each hold 50 percent share
  Capital Investment: 200 million yen (US$1.7 million or 1.6 million euro)
  President:  Shuichi Kosuge (current chief engineer of ITS Engineering at
              DENSO Corporation)
  Vice President:  Michael Bolle (current vice president of Research and
                   Development at Robert Bosch)
  Business Description:  Development of navigation system LSIs, development
                         of multimedia-compliant software platforms,
                         research on map data formats, etc.
  Sales Plan:  2.7 billion yen (US$22.5 million or 21.6 million Euro) for
               2007-year plan
  Employees:  40 by 2007

  Robert Bosch GmbH
  Established:  1886
  Address:  Stuttgart, Germany
  President:  Dr. Hermann Scholl
  Business Description:  Manufacturing and marketing of automotive products,
                         industrial equipment products and electric tools
  Sales:  35 billion Euro (4.4 trillion yen) (US$36.4 billion) in 2002
  Employees:  225,000

  Blaupunkt GmbH
  Established:  1923
  Address:  Hildesheim, Germany
  President:  Dr. Wolfgang Malchow
  Business Description:  Producer of car radios, car-loudspeakers and
                         navigation systems

  Sales:  1 billion euro (125 billion yen or US$1.04 billion)
  Employees:  7,500

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