DENSO to Issue Additional Stock Options
Kariya (Japan) ― DENSO Corporation announced today that its board of directors have decided to propose to shareholders, the issue of stock options for its directors, managing officers and employees, and the calculation method to determine the value of the stock acquisition rights allotted to the directors as non-monetary remuneration. The proposal will be presented at the 84th Annual General Meeting of Shareholders on June 26, 2007.
Up to 1,900,000 stocks and up to 19,000 stock acquisition rights will be valid for this stock option program. The exercise period will be from August 1, 2009 to July 31, 2013.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world’s major carmakers. Worldwide, the company employs approximately 112,000 people in 32 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2007 totaled US$30.6 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, see www.globaldenso.com or visit our media website at www.densomediacenter.com.