DENSO Names New CEO of North American Headquarters

Mitsuo Matsushita Moves Up to CEO of DENSO International America

SOUTHFIELD, Mich., July 6 -- DENSO today announced that Mitsuo Matsushita has been appointed president and chief executive officer (CEO) of DENSO's North American headquarters, DENSO International America, effective July 1, 2004. Matsushita had been president and chief operating officer (COO) since July 2002.

In addition to his role as president and CEO, Matsushita will serve as chair of the Board of Directors for the North American DENSO Group. He also is a managing officer of Japan-based DENSO Corporation, parent company of DENSO International America.

"The next decade is unprecedented due to changes in the business environment such as fiercer competition, more technological innovation and the growth of business on a global scale," Matsushita said. "As president and CEO, my goal is clear -- to help DENSO become the most reliable systems and component manufacturer in the automotive industry."

Matsushita's predecessor, Tony Takeuchi, chairman and CEO since July 1, 2002, has retired. However, he will continue to serve as honorary advisor, representing the company on several industry and trade association boards.

Matsushita has more than 30 years experience in automotive and international business. Prior to his U.S. assignment, he served as executive vice president of DENSO International Europe B.V., DENSO's European headquarters in Weesp, The Netherlands, from January 2000 through June 2002.

In Europe, he helped lead the expansion of DENSO's European business at the time when DENSO Manufacturing S.p.A. and DENSO Thermal Systems S.p.A. were acquired in 2001. During Matsushita's tenure as executive vice president at DENSO International Europe, sales sharply increased from US$1.29 billion to US$1.8 billion in 2002.

His other experience includes:

* General manager of DENSO Corporation's Engine Control Components Planning Department in Kariya, Aichi prefecture Japan, where he promoted new business with his sales and marketing background;

* Sales and marketing at DENSO International America;

* Sales head of DENSO's domestic OEM sales with Honda and Subaru in Tokyo, and

* Overseas project planner covering the launch of new operations in Southeast Asian countries.

Matsushita, who earned a bachelor's degree in Economics in March 1971 from Kanazawa University in Ishikawa prefecture, joined DENSO immediately following graduation.

DENSO Corporation, a global supplier of advanced automotive technology, systems and components, employs 95,000 people worldwide in 31 countries with consolidated sales for the fiscal year ended March 31, 2004 totaling US$24.2 billion. Customers include all the world's major carmakers. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. DENSO Corporation can be found on the World Wide Web at http://www.globaldenso.com/ .

In the Americas (North, Central and South America), DENSO employs 14,000 people at 32 companies with regional consolidated sales totaling US$5.3 billion. North American DENSO information can be found at http://www.densocorp-na.com/ .