|Thursday, 29 March 2018, 17:06 HKT/SGT|
TOKYO, Mar 29, 2018 - (JCN Newswire) - DENSO Corporation today announced that on July 1, 2018 it will integrate the management of two DENSO Group companies: DENSO PREAS Corporation and DENSO KIKO Co., Ltd., both of which manufacture metal press-worked parts.
The business environment will tremendously change in the future with the advancement of the electrification of automobiles and automated driving. Therefore, it will become even more necessary to develop press-worked parts required for new technologies and to begin local production in overseas regions where the market is expected to grow. To develop more competitive press-worked parts, DENSO reached the conclusion that the aforementioned companies of the DENSO Group, each of which has excellent manufacturing assets, must be integrated to form a core press working company while further strengthening collaboration with DENSO, which is proud of its high-accuracy molds.
The integrated company will enhance mass production technologies and manufacturing capabilities through closer collaboration with respective sections of DENSO and make a contribution to realizing an environmentally friendly, safe, and comfortable mobility through press-worked parts that support electrified systems and automated driving systems.
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has more than 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8% of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.
For more information, go to www.denso.com.
Visit our media website at www.denso.com/global/en/news/media-center/.
Sadayoshi Yokoyama, Toshiko Watanabe
Mar 29, 2018 17:06 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.