DENSO Announces Revision of Full-year Financial Forecast

KARIYA, Japan – December 26, 2008: DENSO Corporation today announced that it has revised its financial forecast for the fiscal year ending March 31, 2009, announced on October 30, 2008.

"The perception of the business economy worldwide is significantly deteriorating as the financial crisis triggered in the United States is spreading around the world," said Sadahiro Usui, managing officer of DENSO Corporation. "The business environment in the automotive industry is also drastically declining due to decreasing exports and the appreciated yen in Japan, in addition to slumping consumer spending worldwide. Considering current conditions and future market trends, we have revised our full-year forecasts for the fiscal year ending March 31, 2009."

The expected exchange rates used for the financial outlook of the second-half are 93 yen = US$1 and 122 yen = 1 Euro.