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KARIYA (Japan) - In an effort to improve IT capabilities for the DENSO Group, DENSO Corporation will merge its two IT-related subsidiaries, DENSO ISM Corporation and DENSO Information Technology Corporation on October 1, 2010. The new company DENSO IT Solutions Corporation will be capitalized at 80 million yen (approximately US$920,000*).
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"As the number of projects across business and engineering areas has increased in recent years, demand for centralized IT infrastructure and more IT developers has grown," said Hikaru Sugi, senior managing director who oversees DENSO's Engineering Research & Development Center. "In response to these needs, we will combine the two IT-related companies to increase capacity for developing information systems. In addition, by training personnel with a wide range of skills and flexibly supporting multiple projects, DENSO will improve the IT capabilities of the entire Group."
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Both DENSO ISM and DENSO Information Technology are wholly owned by DENSO Corp. and provide services to DENSO Corp. and DENSO group companies. Since its establishment, DENSO ISM has developed, maintained, and operated mainly business information systems, while DENSO Information Technology has developed, maintained, and operated mainly engineering information systems.
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DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electric, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 34 countries and regions (including Japan) and employs approximately 120,000 people. Consolidated global sales for the fiscal year ending March 31, 2010, totaled US$32.0 billion. Last fiscal year, DENSO spent 9.1 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
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Profile of new company
| 1. |
Name |
: |
DENSO IT Solutions Corporation |
| 2. |
Location |
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Nagoya, Aichi |
| 3. |
President |
: |
Takao Imai |
| 4. |
Establishment |
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October 1, 2010 (planned) |
| 5. |
Capital |
: |
80 million yen (approximately US$920,000*) |
| 6. |
Ownership |
: |
100 percent owned by DENSO Corporation |
| 7. |
Employees |
: |
370 (at establishment) |
| 8. |
Business description |
: |
Planning, developing, maintaining, operating, and offering consulting services on engineering and business information systems and information network and security systems |
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Profile of DENSO ISM Corporation
| 1. |
Name |
: |
DENSO ISM Corporation |
| 2. |
Location |
: |
Kariya, Aichi (DENSO Corporation Head Office) |
| 3. |
President |
: |
Takao Imai |
| 4. |
Establishment |
: |
October 2001 |
| 5. |
Capital |
: |
275 million yen (approximately US$3.2 million*) |
| 6. |
Ownership |
: |
100 percent owned by DENSO Corporation |
| 7. |
Employees |
: |
210 (as of March 2010) |
| 8. |
Business description |
: |
Planning, developing, maintaining, operating, and offering consulting services on business information systems and information network and security systems |
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Profile of DENSO Information Technology Corporation
| 1. |
Name |
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DENSO Information Technology Corporation |
| 2. |
Location |
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Nagoya, Aichi |
| 3. |
President |
: |
Takao Imai |
| 4. |
Establishment |
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April 1997 |
| 5. |
Capital |
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240 million yen (approximately US$2.8 million*) |
| 6. |
Ownership |
: |
100 percent owned by DENSO Corporation |
| 7. |
Employees |
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150 (as of March 2010) |
| 8. |
Business description |
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Planning, developing, maintaining, operating, and offering consulting services on engineering information systems |
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* Exchange rate used is 86.70 yen to the US one dollar, at the end of July 2010 for convenience only.
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