Status of Dialogue

2025

Through our investor relations activities, DENSO is communicating information to shareholders, other investors and analysts in a timely and appropriate manner and advancing a dialogue through efforts by the company management and IR team. By doing so, we aim to reduce information gaps with capital markets in our efforts to enhance our corporate value.
The following is a summary of IR activities and the dialogue with shareholders and investors conducted by the Company's management and others in 2025.

Content of IR activities
Target	IR activities
Domestic institutional investors and securities analysts	Quarterly financial results briefings, disclosure of outlines of results briefings’ Q&A sessions, individual interviews, small meetings, participation in conferences organized by securities companies, publication of integrated reports, DENSO DIALOG DAY, and distribution of IR newsletters
Overseas institutional investors	Individual interviews, small meetings, participation in conferences organized by securities companies, publication of integrated reports, disclosure of the outline of the results briefings’ Q&A sessions, and distribution of IR newsletters
Individual investors and shareholders	Holding of general meetings of shareholders Publication of notices of convocation, publication of electronic notices of convocation that can be viewed via smartphone Disclosure of outlines of Q&A sessions and live streaming of such sessions Reception of questions in advance Offering of facility tours after general meetings of shareholders Company information sessions Distribution of IR newsletters Distribution of script of financial results briefings and disclosure of outlines of Q&A sessions at these briefings

Dialogue Records
	Interlocutor	Number of Dialogues	Total Companies
Individual Interviews	Executive management	52	52
Individual Interviews	Others	212	212
Small Meetings	Executive management	6	176
Small Meetings	Others	67	937
Briefings Large Meetings	Executive management	5	628
Total		342	2,005

Main correspondents
Dialogue Day : CEO, EVP, CTO
Financial results briefings and individual dialogues : CFO, EO, IR team
Overview of shareholders and investors with whom we held dialogues
Held approximately 350 dialogues with domestic and foreign institutional investors, totaling approximately 2,000 companies.
Main themes and concerns in the dialogue
◦ Advantages of the company in priority domains (electrification and ADAS).
◦ Response to policy for reducing cross-shareholdings.
◦ Expectations for the medium- to long-term management plan, etc.
Status of feedback to management and the Board of Directors on shareholder opinions and concerns identified in the dialogue
At each financial results meeting and Dialogue Day, the opinions and questions of participants, analyst reports, stock price trends, and other information are compiled and reported to the Board of Directors.
Items incorporated based on dialogue and subsequent feedback
We picked up topics of high interest from the quarterly financial results briefings and one-on-one meetings—such as electrification, ADAS, semiconductors, and software—and explained them in the Dialogue Day 2026 (held in March 2026). In addition, we are continuously working to meet stakeholders’ expectations and requests, including initiatives to reduce cross-shareholdings.