DRIVEN BASE
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Stakeholder Dialogue

Through dialogue with its various stakeholders, DENSO is working to address social needs through its business activities.

Fiscal 2025

Dialogue with Major Stakeholders following Updates to Our Materiality

In light of the changes in social issues and the operating environment, we updated the material issues (Materiality) that we established in 2018. During this process, we engaged in dialogue with key stakeholders representing our value chain, including customers, business partners, and investors.

Examples of Opinions and Advice

  • The current Materiality aims for the “reduction of traffic accidents,” but DENSO ought to aim for the elimination of accidents altogether. DENSO should adopt Materiality that aligns more closely with its nature as a mobility company (outside member of the Board).

  • Energy and the circular economy are two areas that impact not only DENSO but also society as a whole. I therefore believe they should be treated as material themes from the dual perspectives of corporations and society.

  • Moving forward, it will be even more important to position strategies geared toward Materiality at the center of the Company’s overall direction, including in medium and long-term management plans, and pursue such strategies accordingly (investor).

  • Small and medium-sized enterprises are unable to tackle DENSO’s material issues at the same level of DENSO’s efforts. We therefore would like DENSO to determine an order of priority regarding which issues it can tackle together with suppliers.

  • Once Materiality is determined, it would be great if DENSO could communicate guidelines, action plans, and KPIs to suppliers (supplier).

  • I agree with DENSO’s decision to link its Materiality with the Mid-term Policy. I also feel that a longer-term perspective is important?specifically, how the Company intends to approach realizing its vision for society in 2050 (expert).

  • I have no major concerns with the proposed Materiality; it is generally on par with industry peers. It also aligns with the issues the Company has identified (investor).

  • DENSO has disclosed its targets for 2025 in the integrated report and other materials. I would also like to see DENSO formulate medium- to long-term targets for 2030, 2035, and beyond.

  • I have no major issues with the proposed Materiality. I do believe that, as social issues become more complex, there will be a need to tackle issues such as logistics, energy, carbon neutrality, and human rights in a manner that goes beyond the automotive industry (customer).

  • With human rights organizations becoming more active and boycott risks on the rise, I hope that DENSO continues its efforts to address issues across the entire supply chain (customer).

  • I feel there is an emphasis on risk-related language, particularly eliminating negative impacts. If more positive-oriented language could be used, focusing on making positive impacts, I think that would spark greater engagement internally (customer).

  • While DENSO’s impact on biodiversity is minimal at the moment, this is an issue that is garnering significant public attention and therefore should be monitored closely.

The opinions and expectations of DENSO were incorporated into our Materiality proposals, which were finalized and approved by the Board of Directors following deliberations at the management level. Currently, we position our Materiality as the foundation of future medium-term management plans and are setting relevant targets and formulating action plans for each business and region of operations.

Dialogue on Human Rights with External Experts

  • 2024

Members of the Human Resources Department, which oversees human rights-related affairs, along with those of key organizations such as the Procurement DX Reform and Corporate Strategy divisions, held a dialogue with external experts in which they explained the status of DENSO’s initiatives toward respect for human rights. Taking into account global trends and the status of human rights-related initiatives by other companies, these experts evaluated our initiatives based on the UN Guiding Principles on Business and Human Rights, including the identification of human rights issues through risk assessment and the implementation of impact assessments on non-Japanese workers in Japan. They also offered valuable opinions and advice on our initiatives from a broad range of perspectives.

Examples of Opinions and Advice

  • For non-Japanese technical interns, it is also important to ask positive questions, such as whether they have been able to enhance their technical skills.

  • Conducting surveys of suppliers on non-Japanese workers and technical interns will help raise supplier awareness. To better assess the frontline situation in future assessments, I recommend that DENSO refine the question items and answer options.

  • DENSO needs to support suppliers in promoting awareness-raising activities. For example, I recommend that DENSO help suppliers create and implement awareness-raising tools as well as provide feedback on survey results (such as visualizing issues/weaknesses and sharing best practices).

  • The CEO should broadcast a message on December 10 in conjunction with Human Rights Day.

DENSO will reflect these opinions and advice in its human rights-related activities moving forward.

Fiscal 2024

Dialogue with Individual Investors

  • 2023

In May 2023, we held a dialogue session for individual investors hosted by Commons Asset Management Inc., an asset management company specializing in long-term investment. At the sessions, we provided explanations and exchanged opinions on DENSO’s sustainability initiatives, starting with our strategies for Green and Peace of Mind. In addition, we offered tours of DENSO Gallery,* which introduces the history of our business and our vision for the future mobility society, as well as DENSO Heritage Center, a facility where employees can learn about the starting point of DENSO, including the DENSO Creed and DENSO’s commitment to quality and safety.

* Name as of 2023. In June 2025, DENSO Gallery was renovated and renamed DENSO MUSEUM.

Examples of Opinions and Impressions

  • I learned that DENSO has been involved with semiconductors for quite some time. With the widespread adoption of electric vehicles, I understand that producing power semiconductors in-house became essential to ensure a stable supply. I hope that the Company’s efforts toward expanding components for electric vehicles translate to a strong performance.

  • I was pleased to learn about the various technologies and initiatives of DENSO. In particular, at DENSO Gallery, many employees spoke about what they value in their own words, and this helped me gain a firm understanding of DENSO’s corporate culture.

  • It is my hope that the positive aspects of DENSO’s DNA, which has been cultivated throughout the Company’s long history, will continue to be passed down to future generations of employees. At the same time, it is encouraging to see younger employees, who have received different forms of education, and overseas employees, who possess diverse value systems, working together at DENSO. I also think that DENSO should communicate its approach to true inclusion, going beyond the mere term “diversity” and pursuing real change, both inside and outside the Company.

Past Dialogues