Koichi Fukaya to be Elected DENSO President in June

Board of Director Changes Also Announced

TOKYO, April 17 -- DENSO CORPORATION today announced plans to formally elect Koichi Fukaya as new president and CEO after the annual shareholders meeting in June.

Current President and CEO Hiromu Okabe will be promoted to vice chairman and Akira Takahashi will remain as chairman.

In his new role, Fukaya will set company objectives and focus on all aspects of corporate, financial and manufacturing areas as well as strengthen relationships with customers, suppliers, shareholders and employees.

"I am both honored and determined to lead DENSO to further success as we face the many challenges ahead of us in this century's automotive supplier industry. I am dedicated to strengthening the company's global network to provide high quality products at competitive costs with the support of our associates worldwide," Fukaya said. "I believe it will be an essential part of my job as president to ensure company transparency with customers, suppliers, shareholders, employees and society."

Since June 2002, Fukaya has been senior managing director of DENSO's Production Promotion Center. His responsibilities included strategic planning and implementation of production technologies of all DENSO Group manufacturing.

First appointed to the Board of Directors in March 1995 while serving as president of DENSO Manufacturing Michigan, Inc. in Battle Creek, Mich., Fukaya was again promoted to managing director responsible for DENSO's largest product group, Thermal Systems.

Since joining DENSO in 1966, he has served as general manager of the Production Engineering and the Production Engineering Research & Development departments.

"Fukaya is the type of leader who sees many sides to every issue and makes decisions quickly," said Hiromu Okabe, current president and CEO of DENSO Corporation. "His knowledge of production engineering, product group management and his international leadership experience made him my top choice to lead DENSO."

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* (2,401.1 billion yen or 20.7 billion Euros). DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. In North America, DENSO employs 14,000 people at 25 companies with consolidated sales for the above fiscal year totaling US$4.7 billion.

*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.

                      President Hiromu Okabe Remarks
                   The Nagoya Stock Exchange Press Club

  Thank you for attending our news conference on such short notice.

  We have asked you here today so that I may make a special announcement.

In June 2003, I will step down as president and CEO and will assume the vice chairman's position at DENSO Corporation. I felt it was time to introduce someone with new vigor and ideas to ensure DENSO's corporate growth and vitality.

It gives me great pleasure to introduce to you the next and ninth DENSO Corporation President and CEO: Koichi Fukaya.

Mr. Fukaya is the type of leader who sees many sides to every issue and makes decisions quickly.

His knowledge of production engineering, especially quality processes, anchors our reputation for manufacturing strength.

His product group management proved that he could make our largest product group even larger.

And his leadership experience at a manufacturing company in the United States showed he can inspire DENSO associates around the world.

He is an insightful person and I feel his potential as president is enormous.

  Now - here is DENSO's new president and CEO ... Koichi Fukaya.

                  President-Elect Koichi Fukaya Remarks
                   The Nagoya Stock Exchange Press Club

Thank you very much for your warm introduction, Mr. Okabe, and your applause, ladies and gentlemen. This is a very important day for me. As you all might imagine, I have traveled quite a journey during the past 30 years at DENSO, and especially during the past few weeks, to be with you here today.

When Mr. Okabe called me into his office to tell me that I had been selected as the next president, I was excited by the task before me.

I am both honored and determined to lead DENSO to further success as we face the many challenges ahead of us in this century's automotive supplier industry. I am dedicated to strengthening the company's global network to provide high quality products at competitive costs with the support of our associates worldwide.

As you are all aware, ethics is a key theme in today's business world. I believe it will be an essential part of my job as president to ensure company transparency with all our customers, suppliers, shareholders, employees and society.

In the beginning, I will create DENSO's long-term vision. It will serve as DENSO's road map for our corporate goals and objectives. I will also listen to my fellow board members and look for industry trends in order to make the best decisions for the company's future.

DENSO's future depends a great deal on many factors. Some of which are in my hands, but most of which are in the hands of our 87,000 employees. From Japan to Germany, the United States to China, we will all work together to create quality automotive products steeped in technological excellence, all the while using our innovative approach to problem-solving that our customers expect.

In the end, I want to be a president who sees challenges and meets them; sees opportunities and takes them, and sees improvements and makes them. Thank you for your time and I look forward to meeting you all in the months to come.

DENSO Board of Director and Auditor Changes

All Board of Director and Auditor changes will take place after the annual shareholders meeting in June 2003.

  Board of Director promotions include:
  *  Hiromu Okabe, Vice Chairman (from President and CEO)
  *  Koichi Fukaya, President and CEO (from Senior Managing Director)
  *  Shinro Iwatsuki, Senior Managing Director (from Managing Director)
  *  Mitsuharu Kato, Managing Director (from Director)

  New Directors appointed to the Board are:
  *  Shinji Shirasaki, Director (from General Manager, Electronics Product
     Division)
  *  Shigehiro Nishimura, Director (from General Manager, Sales Planning
     Department)

  New Auditors are:
  *  Toshio Watanabe, Auditor (from Executive Vice President, DENSO
     International America, Inc.)
  *  Fujio Cho, Auditor and Current President of Toyota Motor Corporation

  Director and Auditor Retirements include:
  *  Isao Maekawa, Corporate Adviser (from Senior Managing Director)
  *  Ryuzo Tsuyama, President of DENSO Tokyo Corporation (from Director)
  *  Yoshihiro Oishi, Corporate Adviser (from Auditor)
  *  Hiroshi Okuda, Current Chairman of Toyota Motor Corporation (from
     Auditor)

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