Jan 31, 2020   SOURCE: PR NewsWire

DENSO Renews Commitment to Its Second Founding and Long-term Policy 2030 in Third Quarter Update

KARIYA, Japan, Jan. 31, 2020 /PRNewswire/ -- DENSO, the world's second largest mobility supplier, today announced key activities it undertook in the third quarter (October-December 2019) of its fiscal year 2019, ending March 31, 2020, to help it to lead in a new era of transportation. DENSO also today announced its third quarter financial results.

In DENSO's third quarter activities, which included establishing new business areas, aligning leadership and strengthening its global R&D network, the company was guided by its Second Founding, an important strategic shift for DENSO that helps it create the core technologies for future mobility.

The strategy includes expanding into software-based solutions; prioritizing connected, autonomous, shared and electrified (CASE) technologies; and exploring new business models inside and outside the automotive industry. DENSO's Second Founding also helps the company achieve its Long-term Policy 2030, which aims to enrich mobility by prioritizing safety, sustainability and efficiency for all.

"As we enter the new decade, DENSO remains committed to innovating new products that enhance mobility and achieve sustainability, happiness, and peace of mind for everyone," said Yasushi Matsui, Chief Financial Officer and Senior Executive Officer of DENSO Corporation. "2030 is just around the corner and it is vital that we keep our mission top of mind while we create the solutions and technology that will propel not just DENSO - but society - into the future."

In the third quarter, DENSO completed a series of strategic moves that help it and its customers increase competitiveness and lead mobility's evolution. These include:

Establishing New Business Areas 

    --  DENSO formed the Advanced Mobility Systems Business Development
        Division, a company-wide organization designed to advance the
        realization of Level 4 automated driving (full automation driving system
        under certain conditions).
    --  DENSO created two connected systems departments, one within the Sales
        and Marketing Group, and the other in the Mobility Electronics Business
        Group, to help better identify end-user needs and expedite technology
        development.

Strengthening and Aligning Leadership Positions 

    --  DENSO introduced a CxO system, a combination of leadership roles that
        oversee specific business areas, for seven current C-Suite executives to
        help them more easily align company objectives and quicken
        decision-making.
    --  These roles include Chief Technology Officer, Chief Risk Officer, Chief
        Financial Officer, Chief Quality Officer, Chief Customer Officer, Chief
        Information Security Officer and Chief Standardization Officer.

Innovating through global collaboration
DENSO continues to produce technologies and products through collaborative innovation. This drives groundbreaking developments in autonomous and connected vehicles and other emerging areas. These collaborations include:

    --  DENSO working with Qualcomm Technologies to improve the
        user-friendliness of integrated cockpit systems and in-vehicle
        infotainment products.
    --  DENSO taking a Stake in PiNTeam, a German startup, to accelerate
        development of basic software that controls in-vehicle electronic
        control units.

Boosting Research & Development (R&D)

    --  DENSO has advanced its digital engineering program at its Engineering
        Center in Aachen, Germany.
    --  The center primarily focuses on energy management optimization,
        electrification technologies and digital development to increase
        efficiency and safety in transportation. It also enhances DENSO's
        ability to test new technology in a variety of environments and
        conditions.
    --  Moreover, the facility complements DENSO's growing global R&D network,
        which, outside of Japan, includes facilities in Finland, Israel, and
        Montreal; and in the U.S., San Diego, San Francisco, Seattle and Plano,
        Texas.

About DENSO Corporation
DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.

In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In fiscal year ending March 31, 2019, DENSO in North America generated $10.9 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond - a principle that brings unique perspectives together, bolsters innovation and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: www.densocareers.com. For more information, go to https://www.denso.com/us-ca/en/.

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