DENSO East Japan to Begin Construction of Manufacturing Plant
KARIYA (Japan) - DENSO East Japan Corporation, a wholly-owned subsidiary of DENSO Corporation, later this year will begin construction of its manufacturing plant and is targeting a May 2011 operation launch date.
"The production of automakers in eastern Japan is expected to gradually increase, so later this year we have decided to begin the construction of DENSO East Japan's manufacturing plant," said Yuji Morimoto, President of DENSO East Japan. "With the future of the surrounding business environment still unclear, we will continue to evaluate the situation and consider the company's medium-term business plans."
Although established in April 2008, DENSO East Japan postponed the construction of its plant and the launch of operations due to the uncertainty in automobile production and the rapid economic slowdown since Fall 2008.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world's major carmakers. Worldwide, the company employs approximately 120,000
people in 33 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2009 totaled US$32.0 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to
www.denso.com, or visit our media website at www.densomediacenter.com
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Profile of DENSO East Japan and outline of its plant
| 1.Name | :DENSO East Japan Corporation |
|---|---|
| 2.Location | :26 Koyodai, Funehiki-machi, Tamura-shi, Fukushima Prefecture, Japan (Western Tamura Industrial Park) |
| 3.President | :Yuji Morimoto (while remaining as President of Sankyo Radiator Co., Ltd., a subsidiary of DENSO Corporation) |
| 4.Establishment | :April 1, 2008 |
| 5.Capital | :2.6 billion yen* (approx. US$28.2 million fully funded by DENSO Corporation) |
| 6.Investment | :Approx. 5 billion yen* (approx. US$54.3 million. Estimated total investment before the start of operations) |
| 7.Sales | :Approx. 6 billion yen* (approx. US$65.1 million projected for fiscal year ending March 2012) |
| 8.Employees | :82 (as of January 2010) |
| 9.Business description | :Production of car air conditioning systems and other products |
| 10.Site area | :Approx. 237,000 square meters |
| 11.Total floor area | :Approx. 10,600 square meters (at the start of operations) |
* Exchange rates used are 92.10 yen per one dollar, at the end of January 2010 for convenience only. Billion is used in the American sense of one thousand million.