Regional headquarters established in Bejing
Beijing, China—If you travel to the northeastern corner of China, you’ll find the ancient city of Beijing, the capital of China. But if you visit Beijing, don’t expect to see residents in buttoned-down tunics performing t’ai chi in the city square. Beijing today is a modern, thriving metropolis that still retains the flavor of its ancient history.

That’s why DENSO chose Beijing as the place to establish DENSO (China) Investment Company, a new DENSO holding company which will function as our regional headquarters in China. Ownership of DENSO’s six China-based companies will be transferred to DENSO Investment Company by March 2004.

“By 2010, China is forecasted to more than double the 3.25 million vehicle output of 2002,” said Hiroshi Uchiyama, senior managing director of DENSO Corporation and in charge of DENSO’s Sales Group. “Such growth would possibly make China the largest car-producing country in the world, next to America and Japan. Our customers already are expanding their businesses in this fast-growing market, and we recognize that we need to do the same,” Uchiyama explained. “We hope consolidating and strengthening all sales functions within one company will create a framework for sales expansion.”

Joint venture in Guangzhou
Guangzhou, China, a city of nearly 6 million on the south coast of the China Sea, often is described as the place where the Chinese began to experiment with free market principles—maybe because of its international air routes as well as convenient land, water and air transport. Or maybe because it’s one of the cities bolstered by large-scale business investment and booming exports.

One of the companies investing in China is DENSO. And recently, DENSO began expanding that investment.

DENSO Corporation is establishing a joint venture to produce air conditioners for automobiles, buses and radiators with Guangzhou Automobile Group Component Co., Ltd., the auto parts supervising department of Guangzhou Automobile Industry Group Co., Ltd., in Guangzhou, China.

DENSO (China) Investment Co., Ltd., DENSO’s wholly owned holding company in China, will provide 60 percent of the capital; Guangzhou Automobile Group Component Co., Ltd., will provide the remaining 40 percent. The new company, Guangzhou DENSO Co., Ltd., was established in May 2003.

“DENSO has supplied car air conditioners to customers throughout the nation from our production companies located in the northern part of China (Yantai and Tianjin) since 1999,” said Hiroshi Uchiyama, senior managing director of DENSO Corporation and in charge of worldwide sales for DENSO Sales Group. “DENSO established the Guangzhou company for business expansion into southern China.”

Currently, DENSO operates six production companies in China: •Yantai Shougang DENSO Co., Ltd., Yantai, Shandong Province, manufacture and sale of air conditioners, 270 associates. • Tianjin DENSO Engine Electrical Products Co., Ltd., Tianjin, manufacture and sale of alternators and starters, 435 associates. • Chongqing DENSO Co., Ltd., Chongqing, manufacture and sale of magnetos, CDI amplifiers and ignition coils, 113 associates. • Tianjin DENSO Electronics Co., Ltd., Tianjin, manufacture and sale of automotive electronic control components, 63 associates. • Tianjin DENSO Air-Conditioner Co.,Ltd., Tianjin, manufacture and sale of air conditioners, 216 associates. • Tianjin ASMO Automotive Small Motor Co., Ltd., Tianjin, manufacture and sale of small motors, 576 associates.