KARIYA (Japan) ― In an effort to enhance DENSO’s software development capability in China, DENSO’s regional headquarters, DENSO (China) Investment Co. Ltd., will acquire all shares of DENSO Create Shanghai Inc., in April 2009. Currently, the company’s software development subsidiary DENSO Create Inc., in Aichi, Japan controls all shares of DENSO Create Shanghai. With this reorganization, DENSO Create Shanghai Inc., will be renamed DENSO Software Shanghai Co., Ltd. and will continue its current software development business for products, particularly vehicle navigation systems.
“In China, we expect an increase in demand for vehicle navigation systems and software development services to support the increasingly sophisticated functions of these systems,” said Hikaru Sugi, senior managing director responsible for DENSO's Engineering Research & Development Center and Thermal Systems Business Group. “To meet this demand, we are reorganizing to create a more effective development structure in which design and software development divisions can work more closely in China.”
DENSO Create Shanghai will establish a new branch office in Xian, China by the end of the year and .plans to increase its number of employees from approximately 70 this year to 120 by 2012.
Profile of new company
- Name: DENSO Software Shanghai Co., Ltd.
- Location: Room 18401-18404, No. 498 Guoshoujing Road, Zhangjiang Hi-tech Park, Pudong New Area, Shanghai, China
- Management representatives:
Chairman: Hiroyuki Murayama (while serving as a Managing Officer of DENSO Corporation)
President: Kenjiro Tsujimura (the current president of DENSO Create Shanghai Inc.)
- Capital transition period: April 2009 (planned)
- Capital: US$600,000
- Ownership: 100% owned by DENSO (China) Investment Co., Ltd.
- Sales: 47 million yuan (approximately US$6.8 million yen planned for fiscal 2012)
- Employees: 73 as of January 2009 (120 planned for fiscal 2012)
- Business description: Development of software for car navigation systems and others
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 119,000 people in 32 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2008 totaled US$40.2 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
* Exchange rates used are 90 yen per one dollar and 13 yen per one yuan for convenience only.