DENSO Formally Elects New President and CEO
Tokyo, Japan, June. 27, 2003 - (JCN Newswire) - DENSO Corporation today announced president and CEO and senior management changes, which were voted upon at today's annual shareholders meeting. Koichi Fukaya was appointed president and CEO. Hiromu Okabe, former president and CEO, was appointed vice chairman. These changes are effective today. Board of Director promotions included: -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 were: -Shinji Shirasaki, Director (from General Manager, Electronics Product Division) -Shigehiro Nishimura, Director (from General Manager, Sales Planning Department) New Auditors were: -Toshio Watanabe, Auditor (from Executive Vice President, DENSO International America, Inc.) -Fujio Cho, Auditor and Current President of Toyota Motor Corporation -Tamiki Kishida, Auditor and an academic expert in business administration The number of external auditors was increased to three to enhance governing function. Director biographies are available at www.globaldenso.com in the "Press Release" section. 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, 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--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). DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges.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>