TOKYO - DENSO Corporation will acquire Osawa Inc., a subsidiary wholly owned by J. Osawa & Co., Ltd. on March 31, 2002. On that same date, sales of automotive accessories will begin at a new DENSO group company with the same corporate name, Osawa Inc.
DENSO reached an agreement of the acquisition with J. Osawa who had been in the restructuring process of sales and marketing function. Osawa Inc. is the largest distributor of aftermarket wipers produced by Nippon Wiper Blade Co., a DENSO group company.
"By acquiring Osawa Inc., DENSO group will ensure the current sales route of aftermarket wipers, which will strengthen the business base of Nippon Wiper Blade," said Takao Inukai, senior managing director of DENSO Corporation.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 85,000 people in 29 countries and regions, including Japan. Consolidated global sales for the year ended March 31, 2001 totaled US$16.2 billion. DENSO common stock is traded on Tokyo, Osaka and Nagoya stock exchanges in Japan.
| Osawa Inc. Profile |
Company Name: |
Osawa Inc. |
Date of Establishment: |
July 17, 1992 |
Date of Acquisition: |
March 31, 2002 |
Location: |
2-15-13 Shoto, Shibuya-ku, Tokyo |
Capital: |
460 million yen (US$ 3.43 million) |
President: |
Kenji Okumura (currently director of J. Osawa & Co., Ltd.) |
Ownership: |
Wholly owned by DENSO Corporation |
Business lines: |
Sales of automotive accessories |
Sales: |
6.4 billion yen (US$ 47.8 million) (projected for fiscal 2002) |
Employees: |
78 (as of March 31, 2002 containing contract workers) |
Nippon Wiper Blade Co., Ltd. Profile |
Company Name: |
Nippon Wiper Blade Co., Ltd. |
Date of Establishment: |
March 25, 1965 |
Location: |
311 Shimo-Takayanagi, Kazo-city, Saitama, Japan |
Capital: |
450 million yen (US$ 3.35 million) |
President: |
Toru Mayumi |
Ownership: |
ASMO Co., Ltd.
DENSO Corporation
Others
| 55 percent
15 percent
30 percent
|
Product lines: |
Wiper blades, wiper arms and wiper motors |
Sales: |
23.7 billion yen (US$ 176.9 million) (fiscal 2001) |
Employees: |
925 (as of June 2001) |
J. Osawa Profile |
Company Name: |
J. Osawa & Co., Ltd. |
Date of Establishment: |
April 10, 1919 |
Location: |
4-2-8 Shibaura, Minato-ku, Tokyo |
Capital: |
3.9 billion yen (US$ 29.1 million) |
President: |
Hideaki Aratani |
Ownership: |
The Seibu Department Stores, Ltd.
The Seiyu, Ltd.
Credit Saison Co., Ltd.
Seiyo Food Systems Inc.
Others
| 32.5 percent
13.5 percent
9.0 percent
9.0 percent
36.0 percent
|
Business lines: |
Sales of watches, jewelries, imported miscellaneous goods, etc. |
Sales: |
24.7 billion yen (US$ 184.3 million) (fiscal 2000) |
Employees: |
352 (as of March 31, 2001) |
*Exchange rate used is 134 yen per one dollar |
