Profile of the DENSO Group - DENSO Global...

Profile of the DENSO Group

Consolidated sales by business segment

* E-mail inquiries are welcome via the website.

Consolidated net sales:

4,095.9billion yen

2013

Small motors:7.0%

Other automotive systems:1.4%

Industrial systems and life-related systems:1.1%

Electronic systems:9.4% Powertrain control

systems: 35.0%

Thermal systems: 30.4%

Other new business: 0.4%

Information and safety systems:15.3%

About 140,000 DENSO employees are working in 38 countries and regions for the benefit of the automotive society.DENSO products are used by automakers worldwide. DENSO conducts business in 38 countries and regions, swiftly providing products of the same performance and quality around the world. DENSO employs about 140,000 people worldwide, more than half of whom (74,000) work outside Japan. The company’s overseas sales ratio is over 46%. DENSO’s supply chain includes nearly 5,000 suppliers from which it annually purchases 2,000 billion yen’s worth of parts, materials, and equipment (local procurement rate: about 70%) to optimize procurement.DENSO fully understands just how much global companies can influence society, and thus engages in open, fair, and transparent business transactions. DENSO has an open-door policy of providing equal opportunities to all suppliers to work with it, regardless of nationality, company size, or past performance. It has also established the Supplier CSR Guidelines to encourage the whole supply chain to promote CSR activities, as well as the DENSO Group’s Green Procurement Guidelines to reduce its environmental impact.

Inquiries about this report

Corporate Strategy Planning Dept., Corporate Planning Div.

Tel: +81-566-25-5575; Fax: +81-566-25-4505

Inquiries for DENSO

Customer Service Center

+81-120-087-413

|Financial report (as of March 31, 2014)

*1 Net income for the current year, excluding dividends

Capital : 187.4 billion yenEmployees : 139,842 (consolidated, +5.7% yoy)Consolidated subsidiaries : 185 companies (62 in Japan, 26 in North America, 35 in Europe, 56 in Asia/Oceania, 6 in South America/Other areas)Affiliates under equity method : 33 companies (13 in Japan, 4 in North America, 3 in Europe, 11 in Asia/Oceania, 2 in South America/Other areas)Net sales : 4,095.9 billion yen (consolidated, +14.4% yoy)Ordinary income : 419.6 billion yen (consolidated, +41.7% yoy)Capital expenditure : 324.1 billion yen (+40.5% yoy)Research and development expenditure : 368.7 billion yen (+9.9% yoy)Cost of sales : 3,341.8 billion yen (+11.1% yoy)Overseas sales ratio : 46.2% (-3.3% yoy)Corporate tax paid : 109.8 billion yen (+106.5% yoy)Internal reserves*1 : 220.5 billion yen (+56.0% yoy)

|Status of the DENSO Group companies by operating region (As of March 31, 2014)

470.5 billion yen35 companies14,117 employees

Europe

Net sales

Consolidated subsidiaries

Employee

DENSO Group employees:

Approx.140,000people

Operating regions:

38countries and regions


Asia/Oceania

1,896.4 billion yen62 companies65,553 employees

Japan799.4 billion yen26 companies17,014 employees

North America


South America/Other

DENSO Corporation1-1, Showa-cho, Kariya, Aichi 448-8661, JapanTel: +81-566-25-5511 (operator)www.denso.co.jp

Aiming to be a trustworthy company in harmony with society

DENSO Group’s CSR

The DENSO Group’s 140,000 people work together to take on the challenges of “preserving the earth’s environment” and “creating a society that ensures security and safety.”

Energy and environmental issues are becoming increasingly serious

as the global population grows,

road traffic fatalities increase particularly in emerging economies, and other social problems worsen.

Accordingly, in April 2003 we established the DENSO Group Long-term Policy 2020

in order to work for the benefit of society while continuing to grow.

Our strong sense of mission and dedication to “preserving the earth’s environment ”

and “creating a society that ensures security and safety” are represented by the slogan

“Protecting lives, Preserving the planet, and Preparing a bright future for generations to come.”

By sharing the DENSO Spirit, which includes “foresight, credibility, and collaboration,”

each of the 140,000 people of the DENSO Group will increase their own awareness

of DENSO’s three guiding principles: “break through your boundaries,” “trust our potential,”

and “leverage our capabilities,” and take the initiative in tackling a wide range of social issues,

to achieve the long-term policy objectives.

DENSO’s CSR initiatives are intended to consider the public interest and promote open dialogue with stakeholders, as well as resolve social issues through the company’s business and employees’ behavior.

The DENSO Group states in its Long-term Policy that by 2020, it will create a cycle of good for being trusted by all stakeholders and growing and developing together with them. To create new values and grow in a sustainable manner in harmony with society, the DENSO Group must share its values and collaborate with as many shareholders as possible.The DENSO Group will take the initiative and work hard to address a wide range of social i ssues . DENSO a ims to become more public-oriented and will encourage its employees to change their ways of looking at and doing things while adhering to the DENSO Spirit.

|Basic stance

Creating a society that ensures security and safety and where people can live happily

Preserving the earth’s environment while promoting sustainable growthIdeal status

Actions to take

For an automotive societyFocus on improving the fuel efficiency of vehicles, reducing their energy consumption, thereby reducing CO2 emissions, even if the number of vehicles increases|Develop vehicles with ultra-low fuel consumption and/or

greater mileage of electric vehicles|Optimize traffic volume and eliminate traffic jams

For society as a wholeContribute to a reduction in environmental impacts on society as a whole through energy conservation, creation and storage|Optimally control energy use, and produce and consume

energy locally|Develop renewable energy sources and rechargeable batteries

For an automotive societyFocus on eliminating traffic accidents to protect people’s lives around the world| Provide “everyday confidence and extraordinary safety”| Create a society with safer roads

For society as a wholeContribute to building a safer, more secure society through automotive-related engineering by using core technologies| Create accident-free and crime-free communities| Ensure food security and safety

Approximately 500 DENSO Group employees from countries around the world gathered at DENSO’s head office (Kariya City, Aichi Prefecture) for the Global Conference 2014 held in May 2014. In one of the conference sessions, participants shared case examples of their CSR activities related to the environment and security & safety in their operating regions. The conference a l s o a d o p t e d t h e Declaration of One DENSO A c t i o n , i n w h i c h t h e participants committed to s t r i v e t o a c h i e v e t h e object ives of DENSO’s Long-term Policy through their work and behavior. Global Conference 2014

CSR activities with the participation of employees for realizing the Long-term Policy

Declaration of One DENSO Action

The DENSO Group employees will continue to work together to help address social issues in the areas of the environment and security & safety.

Team CSR

North America

DENSO will continue to work for the environment and security & safety while improving its corporate and employee behavior.

|Priority fields

As a member of the auto industry, DENSO needs to not only convey the appeal, fun and convenience of motor vehicles to people around the world, but also address the major issue of reducing their negative effects, such as greenhouse gas emissions that impact the global environment and fatal traffic accidents.To help solve these problems, the DENSO Group will continue to place priority on improving the environment and making the world a safer place under the slogan “Protecting lives, Preserving the planet and Preparing a bright future for generations to come.”

Protecting lives,

Preserving the planet,

and Preparing a bright future

for generations to come.

Robert TownsenDIAM, the United States

Europe

John La PierreDNEU, the Netherlands

Asia/Oceania

Ornuma ChatjaroensombatDIAT, Thailand

Japan

Team CSR JapanDENSO Corporation, Japan

China

Qinfang ZhangDMCF, China

Nobuaki KatohPresident and CEO of DENSO Corporation

Break through your boundaries.Break through

your boundaries.

DENSO SpiritDENSO Spirit

Trust our potential.

Trust our potential.

Leverage our capabilities.

Leverage our capabilities.

Create new mobile society and social system, leading the world

Treat each employee with respect and support growth

Respect all business partnersand develop together

Contribute to development and harmonious co-existence with local community

Global supplier trusted deeply by all customers around the world

Realize stable and long-term business growth

Customer Shareholder

Business partner

Local community

Society

Employee

Environment Security & Safety

ZONE D is an innovative security system using automotive sensing technologies. When its highly sensitive laser area sensor with a wide angle of 190° detects an intruder, the system will automatically track the person with a camera while emitting a beep, voice, and light alerts to discourage the person. This system is suitable not only for security surveillance at night and on holidays, but also to improve customer service, such as detecting the l icense plate numbers of customers’ vehicles and displaying their data. Since being released by DENSO Sales Japan Corporation in March 2013, ZONE D has become increasingly popular among many d i f ferent inst i tu t ions inc lud ing stores, apartments, nursery schools, preschools, substations, and water treatment plants.

Using Internet-connected tablets, Life Vision is a system for electronically delivering notices on living information and support services provided by a municipal government to the residents. Encouraging close communication is one way to address the challenges faced by rural communities suffering from a fal l ing birthrate, ag ing and depopu la t ion . DENSO uses the information and communication technologies it has developed over many years in car navigation s y s t e m s . T h i s p ro d u c t , w h i c h i s u s e d b y Naosh ima-cho in Kagawa Pre fec tu re , was provided for a project in Rikuzentakata City in Iwate Prefecture to help its people who were affected by the Great East Japan Earthquake.

Development of Life Vision: community communication system

Highlights of DENSO’s CSR activitiesIn its efforts to contribute to building a sustainable society, the DENSO Group has defined the environment (preserving the earth’s environment while promoting sustainable growth) and security and safety (creating a society that ensures security and safety) as its two most important areas of focus. Our significant progress in these areas in FY2013 is described below.

The higher the fuel injection pressure is, the finer the fuel is atomized, thus increasing the efficiency of fuel ignition and combustion, improving the fuel mileage of diesel engines, and producing cleaner exhaust emissions. Released in June 2013, DENSO’s new common rail system with the world’s highest fuel injection pressure of 2,500 bar* increases fuel efficiency by 3% and reduces emissions of hazardous particulate matter (PM) by 50% and nitrogen oxides (NOx) by 8% compared with the previous model (percentages are the maximum possible according to DENSO’s own research). This new product, together with intelligent-Accuracy Refinement Technology (i-ART) that monitors fuel

injection quantity and timing and automatically adjusts them to meet the optimal requirements, is used in Volvo diesel cars sold in Europe.

Development of 2,500-bar common rail fuel injection system for clean diesel engines

In January 2014, DENSO developed the world’s first car air conditioning unit of its kind. This unit, which features 20% smaller components and an innovative structure designed to be used across different kinds of vehicles, is largely standardized, and so has only six varieties compared with the previous product with 18 types. The new air conditioning unit can fit a wide range of vehicles, from compact to luxury models, sold in various regions.The production line for this unit is also standardized so that all six varieties can be assembled on a single line. This product, which provides greater comfort, cost competitiveness, and lower envi ronmental impact, is used in Toyota’s Noah, Voxy, and new Harrier.

Development of new

air conditioning unit that can be used across different vehicle models By using its automotive technologies, DENSO has commercialized Eco-Cute, a heat-pump

water heating and supply system to extract heat energy from the air and use electricity to provide hot water, a lithium-ion battery system to store electricity generated by solar power and other renewable energy sources, a residential central climate control system to heat and cool the entire house with a single unit, the HEMS* Monitor to connect these devices with the vehicle and optimally control them, and other green products.DENSO is a member of the Toyota City Low-Carbon City Construction Demonstration Project, which has been implemented in Toyota City designated as an experimental city for next-generation energy sources and social systems. In 2013, DENSO’s HEMS and lithium-ion battery were approved as products eligible for government subsidies for purchasers.* HEMS: Home Energy Management System

DENSO technology for low-carbon society:

Creating, storing, and controlling energy

DENSO Corporation established the target of reducing its CO2 emission intensity per unit production on an unconsolidated basis by 65% from its 1990 level by FY2015 and its group’s CO2 emission intensity per unit production on a global consolidated basis (in Japan and throughout the world) by 7% from its 2010 level by FY2015. DENSO has developed innovative manufacturing p ro c e s s e s , i n t r o d u c e d h i g h l y e f f i c i e n t manufacturing equipment, used natural energy, promoted Just-in-Time energy supply across the group, developed energy-saving technologies, and made many other efforts. As a result, even though production in FY2013 increased substantially, the CO2 emission intensity per unit production of DENSO on an unconsolidated basis was reduced to 35 kg-CO2/t (65% below 1990 level) and that of its group on a global consolidated basis was lowered to 83 kg-CO2/t (17% below 2010 level). Thus, DENSO achieved its CO2 emission reduction targets for FY2015 earlier than it had planned.

CO2 emission reduction targets per unit production for 2015 achieved earlier than planned

The Road Safety Fund was established by the World Health Organization and FIA Foundation, a charity, as a fund-raising organization to enable the United Nations to take action for road safety.Agreeing with the mission of the Road Safety Fund, DENSO signed a contract with the organization in September 2013 and became one of its Global Supporters. DENSO will participate in a wide range of projects managed by the fund, such as funding road s a f e t y p r o g r a m s i n various countr ies and regions, raising people’s awareness about traffic safety, and donating hard hats to school children.

Acting as Global Supporter of the world’s Road Safety Fund

Security & SafetyEnvironment

In May 2013, DENSO developed a new, first-ever laser radar for compact vehicles that helps avoid collisions and reduces impact when a col l is ion occurs. This sensor detects obstacles in front such as another car, and thus serves as the important “eyes” of the vehicle. With a simple laser beam generat ion mechan ism, the new compact yet

low-cost laser radar features a scann ing area and distance that are set for use in city traff ic and on congested roads. DENSO’s new laser radar is used in the Smart Ass ist System of Da ihatsu, a co l l is ion avoidance system which was first installed in the Daihatsu Move and then in the Daihatsu Mira e:s and Tanto.

Development of new laser radar for compact vehicles that helps avoid

collisions and reduce impact

Conceptual image

DENSO has developed the Driver Status Monitor (DSM) for commercial vehicles. The DSM uses a camera to capture the driver’s eyelid movements and face angle, which are then analyzed by the ECU. When the DSM judges that the driver is c los ing the eyes or look ing away for too long, it issues a warn ing sound to a le r t the dr iver to pay attent ion. This product is based on DENSO’s image recognition technology, o n e o f i t s t e c h n o l o g i c a l strengths, and is used in Hino Motors’ large trucks and tour buses.

Development of Driver Status Monitor that detects the movement and angle of the driver’s eyelids and face, and issues an alarm when needed

Conceptual image

Fuel efficiency increase by 3%NOx emission reduction by 8%

DENSO Corporation received the Chairman’s Prize of ECCJ for FY2013 in the Successful Case of Energy Conservation Category at the Energy Conservation Grand Prize organized by the Energy Conservation Center (ECCJ), Japan. The Energy Conservation Grand Prize is the most prestigious award in Japan for energy conservation activities and technologies. DENSO received the Chairman’s Prize of the ECCJ for the third time in a row, following FY2011 and FY2012, for reducing energy consumption in its parts cleaning and drying processes by up to 60% by creating a swirling flow in cleaning water and drying air.

Winning of Energy Conservation Grand Prize for three consecutive years

in a rowThree years

%20smaller

|CO2 emission reduction targets per unit production for 2015DENSO Corporation

from 1990 level65% reduction

Group companies worldwide


|Results of CO2 emissions per unit production in 2013DENSO Corporation




CO2 emissions in FY2013DENSO Corporation

843,000 t-CO2


638,000 t-CO2

Since August 2013, DENSO has been providing Sleep Eye, a simple sleep apnea screening device to detect changes in breathing patterns during sleep unique to people with this syndrome by monitoring subtle changes in body pressure on the device. DENSO has also jointly developed the In te l l igent Arm Suppor t Systems ( iArmS) in cooperat ion with a medical school. iArmS is an automatic tracking robot for surgery assistance to reduce the shaking and strain of the hands of the surgeon dur ing long operat ions, thus helping to raise the quality of the operation. DENSO will continue to develop new types of medical diagnosis devices and surgery assistance robots based on its automotive sensing and robot technologies, in order to help prevent and detect lifestyle-related diseases in the early stages, as well as provide patient-friendly treatment.

Providing new healthcare and medical devices to improve quality of life

Sleep Eye, a simple sleep apnea screening device

iArmS, an automatic tracking robot for surgery assistance

* Delivered by the whole common rail fuel injection system, which consists of injectors, a pump, and a common rail (As of June 2013, according to DENSO’s own research)

Release of security system for various purposes including

crime and accident prevention and better customer services

A system based on a highly sensitive, wide-angle laser area sensor

Solar power generation

Home automation (HA)-enabled device

ECHONET Lite-enabled device

Lithium-ion battery Eco-Cute

Battery charger for electric and plug-in hybrid vehicles (EVs and PHVs)

Central climate control system

United Nations Decade of Action for Road Safety 2011–2020

Remote security system

The needs for automotive components vary among countries and regions depending on local factors such as climate, road conditions, regulations, and cost requirements. DENSO has seven technical centers around the world to develop, produce, and supply necessary products quickly for customers in any of its operating regions.Established in 2012, DENSO’s Indian technical center develops a wide range of products including powertrains, electric and electrical devices, information and communication systems, small motors, and motorbike components. It also writes software to help DENSO Group companies in other regions develop products. We will continue to surely meet customer needs in the rapidly growing Indian market, particularly in DENSO’s two priority areas: the environment and security. & safety

Creating a “cycle of good” for mutual growth and development

In order to actively work for society and create new values, the DENSO Group needs to share its values and collaborate more closely with shareholders.In line with this principle, DENSO’s individual employees promote CSR activities to create a cycle of good for growing in partnership with all stakeholders.

DENSO's CSR activities presented by its employees

In-vehicle test

Congested highway

Responsibility to customers

I participated in the WorldSkills Competition held in Germany in July 2013, together with my 12 colleagues representing DENSO companies in Japan and Indonesia. I competed in the category of CNC Turning and won the gold medal. In this category, participants were required to machine a metal material to within micron precision to create a high-precision part within the time limit. As I had set an ambitious goal both for my basic training in Thailand and practical training in Japan, I competed with confidence.DENSO trains its people in Thailand as thoroughly as it does in Japan. This corporate culture produces many skilled workers. I will work harder to improve my skills to contribute to the evolution of DENSO’s products in their trial and development stages.

Preecha Maniwongrungrot operating a CNC turning lathe in the competition

Responsibility to employees

The success of greenhouse farming depends on a combination of appropriate sunlight exposure, temperature, humidity, CO2 and use of fertilizers for each crop. However, many of the nation’s farmers are relatively small and cannot easily apply numerical optimal control techniques to their farming instead of relying on their own experience and intuition, resulting in unstable production and little progress in reducing costs.DENSO has developed an environmental control system based on its automotive technologies. We are working with Toyohashi Seed Co., Ltd., which has sophisticated cultivation techniques, to identify cultivation conditions that best suit the Japanese climate. Japanese farmers are facing many challenges, such as the TPP framework, rising fuel costs, and a lack of successors. We are conducting field tests to help them become more competitive through the use of information technology.

Tomato cultivation test facility with DENSO’s environmental control system

System to maintain appropriate greenhouse conditions to boost crop photosynthesis

Responsibility to global and local communities

We are actively conducting CSR to address issues identified in our business as well as in our communities. Particularly, we are focusing on “growing in harmony with the environment,” “creating a safer and more secure community,” and “fostering people (supporting the development of youth and the welfare of the challenged),” using our technologies and networks developed in our business, to work on activities that reflect our aims and principles. The number of our people who do volunteer activities has been increasing.At the Global Conference with DENSO’s CSR representatives from around the world, we share information and issues in order to improve CSR. We are very proud of our vision and mission: “One DENSO Action” and “Team CSR.”

DENSO Products and Services Americas, Inc. (DPAM)

Yantai Shougang DENSO Co., Ltd. (YSD)

Responsibility to global and local communities

DENSO aims to increase its corporate value through long-term stable growth and to increase the transparency of its management by disclosing business and financial information quickly and communicating with stakeholders. We therefore engage in IR activities to help people better understand DENSO, such as announcing the company’s business strategies, f inancial status, and other information at its annual shareholder meeting and through its financial results presentations, website, reports, and other means.Socially Responsible Investing (SRI) is the practice of making investment decisions based on not only the financial performance of a company, but also its corporate social responsibil ity (CSR). DENSO has been continuously ranked as a blue-chip company by the Economic Sentiment Indicator (ESI), a European major economic indicator, and Japan’s Morningstar Socially Responsible Investment Index (MS-SRI).

Annual shareholder meeting

Responsibility to shareholders and investors

We maintain open, fair, and transparent business dealings for the optimal procurement of parts, materials, and equipment and annually purchase 2,000 billion yen’s worth of products from about 5,000 suppliers. Currently, global companies are required to prevent and address human rights and labor issues across their supply chains. Moreover, the international trading of conflict minerals* is regarded as a serious issue. DENSO considers that these problems should be tackled by the whole automotive component industry, and so has joined the industry’s working group to establish ways of identifying such problems. As part of its efforts, DENSO revised part of its Supplier CSR Guidelines in May 2014 to state that it will not purchase materials that could be related to any social issue regarding human rights, the environment, or other public interest. The DENSO Group will continue to work together to take responsibility for purchasing resources and materials.

Dialogue with suppliers

General Meeting of Suppliers regularly held for sharing information

Responsibility to business partners

Suppliers:

Approx. 5,000Total of participants in DENSO Group Community Service Day

FY2013Approx. 40,000

Local procurement rate:

Approx. 70%

Development target

Largest harvest of tomatoesin Japan

Piece created by a CNS turning lathe

Rapid and timely development of products suited to each region

Ensuring long-term, stable increase in corporate value and timely information disclosure

Preventing and addressing human rights and labor issues across the supply chain

DENSO’s monozukuri approach, which has taken firm root in its companies around the world, starts with developing human resources

Applying DENSO’s plant control technologies to agriculture to make agricultural production more efficient and consistent

What DENSO should do can be found in community problems

Baljinder SinghIndian Technical Center, DIIN

Sayaka HasegawaFinance & Accounting Div.

Masayoshi YamauchiPurchasing Planning Div.

Preecha ManiwongrungrotDENSO (Thailand) Co., Ltd. (DNTH)

Keisuke NakazatoAgricultural Support Business Dept.

Melissa SmithDENSO International America, Inc. (DIAM)

ESI’s label for blue-chip companies

Seventechnical centersworldwide

DENSO classified as sustainable blue-chip company

by ESI for

consecutive yearsnine

Winning gold medals

consecutive competitionsin three

* Minerals produced in the Democratic Republic of the Congo and its surrounding countries and considered to be a source of funding for armed groups.

Sunlight

Fertilizer

H2OH2O H2O

Total : 28 gold medals, 15 silver medals, and 13 bronze medals

TemperatureHumidityCO2 etc.

Internal factors

Sunlight exposureWind speed and directionPrecipitation etc.

External factors

Profile of the DENSO Group

Consolidated sales by business segment

* E-mail inquiries are welcome via the website.

Consolidated net sales:

4,095.9billion yen

2013

Small motors:7.0%

Other automotive systems:1.4%

Industrial systems and life-related systems:1.1%

Electronic systems:9.4% Powertrain control

systems: 35.0%

Thermal systems: 30.4%

Other new business: 0.4%

Information and safety systems:15.3%

About 140,000 DENSO employees are working in 38 countries and regions for the benefit of the automotive society.DENSO products are used by automakers worldwide. DENSO conducts business in 38 countries and regions, swiftly providing products of the same performance and quality around the world. DENSO employs about 140,000 people worldwide, more than half of whom (74,000) work outside Japan. The company’s overseas sales ratio is over 46%. DENSO’s supply chain includes nearly 5,000 suppliers from which it annually purchases 2,000 billion yen’s worth of parts, materials, and equipment (local procurement rate: about 70%) to optimize procurement.DENSO fully understands just how much global companies can influence society, and thus engages in open, fair, and transparent business transactions. DENSO has an open-door policy of providing equal opportunities to all suppliers to work with it, regardless of nationality, company size, or past performance. It has also established the Supplier CSR Guidelines to encourage the whole supply chain to promote CSR activities, as well as the DENSO Group’s Green Procurement Guidelines to reduce its environmental impact.

Inquiries about this report

Corporate Strategy Planning Dept., Corporate Planning Div.

Tel: +81-566-25-5575; Fax: +81-566-25-4505

Inquiries for DENSO

Customer Service Center

+81-120-087-413

|Financial report (as of March 31, 2014)

*1 Net income for the current year, excluding dividends

Capital : 187.4 billion yenEmployees : 139,842 (consolidated, +5.7% yoy)Consolidated subsidiaries : 185 companies (62 in Japan, 26 in North America, 35 in Europe, 56 in Asia/Oceania, 6 in South America/Other areas)Affiliates under equity method : 33 companies (13 in Japan, 4 in North America, 3 in Europe, 11 in Asia/Oceania, 2 in South America/Other areas)Net sales : 4,095.9 billion yen (consolidated, +14.4% yoy)Ordinary income : 419.6 billion yen (consolidated, +41.7% yoy)Capital expenditure : 324.1 billion yen (+40.5% yoy)Research and development expenditure : 368.7 billion yen (+9.9% yoy)Cost of sales : 3,341.8 billion yen (+11.1% yoy)Overseas sales ratio : 46.2% (-3.3% yoy)Corporate tax paid : 109.8 billion yen (+106.5% yoy)Internal reserves*1 : 220.5 billion yen (+56.0% yoy)

|Status of the DENSO Group companies by operating region (As of March 31, 2014)


Europe

Net sales

Consolidated subsidiaries

Employee

DENSO Group employees:

Approx.140,000people

Operating regions:

38countries and regions


Asia/Oceania

1,896.4 billion yen62 companies65,553 employees

Japan799.4 billion yen26 companies17,014 employees

North America


South America/Other

DENSO Corporation1-1, Showa-cho, Kariya, Aichi 448-8661, JapanTel: +81-566-25-5511 (operator)www.denso.co.jp

Aiming to be a trustworthy company in harmony with society

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