DENSO and Toyoda Boshoku Establish Filter Manufacturing Company in China

TOKYO, June 22 -- Toyoda Boshoku Corporation and DENSO Corporation, both headquartered in Japan, have established Toyodabo (Tianjin) Co., Ltd., a filter manufacturing company in Tianjin, China, through a joint capital investment.

The new company has been established to meet the needs of Toyota Motor Corporation, Daihatsu Motor Co., Ltd. and other customers in building a framework for local production abroad.

The new company will utilize part of the Tianjin DENSO Electronics Co., Ltd. plant (an existing DENSO Corporation company) to manufacture the products.

"Through this joint effort, we will produce high quality products that will satisfy our customers as well as society," said Isao Kanazawa, president of Toyodabo (Tianjin) Co., Ltd.

This is the fourth overseas joint venture between Toyoda Boshoku Corporation and DENSO Corporation. The other joint ventures are in the United States (TBDN Tennessee Company in Jackson, Tenn.), Thailand and Poland. TBDN Tennessee produces air, oil and fuel filters and employs 465 people.

Toyoda Boshoku Corporation, headquartered in Kariya, Aichi prefecture, Japan, is one of the major manufacturers of automobile engine components and automobile interior and exterior components and systems in Japan. Its main customers are Toyota Motor Corporation and DENSO Corporation.

Worldwide, the company employs 3,500 people in six countries, including Japan. Consolidated global sales for the fiscal year ended March 31, 2004 totaled US$1 billion. Toyoda Boshoku common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to http://www.toyoda-boshoku.co.jp/

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world's major carmakers. Worldwide, the company employs 95,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2004 totaled US$24.2 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to http://www.globaldenso.com/ or, for North American information, http://www.densocorp-na.com/ .

  Company Profile
  1.  Name: Toyodabo (Tianjin) Co., Ltd.
  2.  Tianjin, People's Republic of China, Tianjin Economic-Technological
      Development Area (in Tianjin DENSO Electronics Co., Ltd.)
  3.  Establishment: June 2004
  4.  Capital: US$2.3 million (240 million yen; 18.5 million yuan)
  5.  Ownership: 60 percent ownership by Toyoda Boshoku Corporation
                 40 percent ownership by DENSO (China) Investment Co.,
                 Limited
  6.  Product line: air filters, oil filters and cabin air filters
  7.  Total investment: US$4.4 million (470 million yen; 37 million yuan)
  8.  Manufacturing begins: February 2005 (scheduled)
  9.  President: Isao Kanazawa (Toyoda Boshoku Corporation)
  10. Employees: 100 (projected for FY 2009, two on temporary transfer from
      Japan)
  11. Sales: US$48.5 million (5.1 billion yen; 400 million yuan) projected
      for FY 2009

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