DRIVEN BASE

DENSO Forges Partnership with Morpho, an Image Processing Technology R&D Company

― Forming a capital alliance to promote the development of safety technology ―

Dec. 11, 2015

KARIYA (Japan) ― Global automotive supplier DENSO Corporation (TYO) 6902 today has entered into a joint development agreement with Morpho, Inc. (TYO) 3653, a Tokyo-based company focused on research, development and image processing technology. Under the terms, DENSO and Morpho will jointly develop image recognition technology that uses image processing technology and engage in *deep learning. This joint development agreement will help DENSO strengthen its safety-related technologies, which is a core area of focus for the company.

In addition, DENSO and Morpho signed a share subscription agreement in which DENSO will subscribe to all new shares to be issued by Morpho. This agreement is to ensure the two companies develop a mutually beneficial relationship and successfully conduct joint technology development.

DENSO and Morpho expect to promote the technological development of surround monitoring systems, including electronic rearview mirrors and other advanced driving support systems that use image processing technology and basic research on automated driving using deep learning.

DENSO will work with Morpho to enhance and accelerate the development of technology that can contribute to a safer and more secure automotive society. DENSO has developed products and technology to help build a society free from road accidents. By using the technologies that it has accumulated over the years, DENSO will continue to work on the creation of an automotive society that is safe and secure for all people, including drivers and pedestrians, around the world.

* Deep learning is a branch of machine learning based on a set of algorithms.

Name Morpho, Inc.
Location Chiyoda First Bldg, East 12F, 3-8-1 Nishi-kanda, Chiyoda-ku, Tokyo
Representative President Masaki Hilaga
Establishment 2004
Capital

892.75 million yen (Approximately 7.28 million $USD*)
(as of October 31, 2015)

Sales

1,405.64 million yen (Approximately 11.47 million $USD*)
(consolidated basis in October 2014)

Employees 62
(consolidated basis as of October 31, 2015)

* Exchange rate used is 122.58 yen to the US one dollar, at the end of November 2015 for convenience only.