DENSO to integrate business with ASMO Co.

ASMO is one of DENSO’s consolidated subsidiaries in which DENSO and DENSO International America, DENSO’s wholly owned subsidiary in North America, have a combined stake of 92.38%. The main business of ASMO is developing, manufacturing, and selling small motor system products for automobiles. Recently, the development of electrification and automated driving technologies has been accelerating. To achieve more environment-friendly and safer mobility, it is essential to improve the performance and reliability of motors which are important components in electrification and automated driving systems. In the DENSO Group, the small motor business and large high-power motor business have been operated by ASMO and DENSO, respectively. Technology development for high-precision and high-value-added motors will require sophisticated technical innovation and product development for vehicles focusing mainly on electromechanical products. The decision on business integration is intended to achieve this goal by combining the strengths in motor technologies acquired over the years by both companies. The integration of the motor business will enhance collaboration with DENSO’s respective business groups to accelerate and upgrade technological development. DENSO remains committed to strengthening technological development of electrification and automated driving systems and realizing more environment-friendly, safer, and more comfortable mobility. The profile of the joint venture is ASMO Co., Ltd. 1. Name: ASMO CO., LTD. 2. Location: 390, Umeda, Kosai City, Shizuoka 3. President: Shingo Kuwamura 4. Business description: Auto parts manufacturing and sales 5. Capital: 4,500 Million yen (approximately US$ 40 million) 6. Establishment: April, 1979 7. Ownership: DENSO Corporation 79.80 percent; DENSO International America Inc. 12.58 percent * Exchange rate used is 113 yen to the US one dollar, at the end of November for convenience only.