DENSO Renews Commitment to Its Second Founding and Long-term Policy 2030 in Third Quarter Update

Mobility supplier establishes new business areas, aligns leadership and strengthens global R&D network to pave the way for future of mobility

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DENSO

Jan 31, 2020, 12:20 ET

KARIYA, Japan, Jan. 31, 2020 /PRNewswire/ -- DENSO, the world's second largest mobility supplier, today announced key activities it undertook in the third quarter (October-December 2019) of its fiscal year 2019, ending March 31, 2020, to help it to lead in a new era of transportation. DENSO also today announced its third quarter financial results.

In DENSO's third quarter activities, which included establishing new business areas, aligning leadership and strengthening its global R&D network, the company was guided by its Second Founding, an important strategic shift for DENSO that helps it create the core technologies for future mobility.

The strategy includes expanding into software-based solutions; prioritizing connected, autonomous, shared and electrified (CASE) technologies; and exploring new business models inside and outside the automotive industry. DENSO's Second Founding also helps the company achieve its Long-term Policy 2030, which aims to enrich mobility by prioritizing safety, sustainability and efficiency for all.

"As we enter the new decade, DENSO remains committed to innovating new products that enhance mobility and achieve sustainability, happiness, and peace of mind for everyone," said Yasushi Matsui, Chief Financial Officer and Senior Executive Officer of DENSO Corporation. "2030 is just around the corner and it is vital that we keep our mission top of mind while we create the solutions and technology that will propel not just DENSO – but society – into the future."

In the third quarter, DENSO completed a series of strategic moves that help it and its customers increase competitiveness and lead mobility's evolution. These include:

Establishing New Business Areas

DENSO formed the Advanced Mobility Systems Business Development Division, a company-wide organization designed to advance the realization of Level 4 automated driving (full automation driving system under certain conditions).
DENSO created two connected systems departments, one within the Sales and Marketing Group, and the other in the Mobility Electronics Business Group, to help better identify end-user needs and expedite technology development.

Strengthening and Aligning Leadership Positions

DENSO introduced a CxO system, a combination of leadership roles that oversee specific business areas, for seven current C-Suite executives to help them more easily align company objectives and quicken decision-making.
These roles include Chief Technology Officer, Chief Risk Officer, Chief Financial Officer, Chief Quality Officer, Chief Customer Officer, Chief Information Security Officer and Chief Standardization Officer.

Innovating through global collaboration
DENSO continues to produce technologies and products through collaborative innovation. This drives groundbreaking developments in autonomous and connected vehicles and other emerging areas. These collaborations include:

DENSO working with Qualcomm Technologies to improve the user-friendliness of integrated cockpit systems and in-vehicle infotainment products.
DENSO taking a Stake in PiNTeam, a German startup, to accelerate development of basic software that controls in-vehicle electronic control units.

Boosting Research & Development (R&D)

DENSO has advanced its digital engineering program at its Engineering Center in Aachen, Germany.
The center primarily focuses on energy management optimization, electrification technologies and digital development to increase efficiency and safety in transportation. It also enhances DENSO's ability to test new technology in a variety of environments and conditions.
Moreover, the facility complements DENSO's growing global R&D network, which, outside of Japan, includes facilities in Finland, Israel, and Montreal; and in the U.S., San Diego, San Francisco, Seattle and Plano, Texas.

About DENSO Corporation
DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.

In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In fiscal year ending March 31, 2019, DENSO in North America generated $10.9 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: www.densocareers.com. For more information, go to https://www.denso.com/us-ca/en/.