KARIYA (Japan) - DENSO Corporation received an amended assessment from the Nagoya Regional Taxation Bureau ("NRTB") on June 30, 2008, regarding the transfer pricing taxation for the three fiscal years ending March 31, 2005 through 2007. The notice stated the company's reassessed income was 15.5 billion yen, which resulted in additional tax liabilities and local taxes of approximately 7.3 billion yen.

DENSO subsequently filed an objection with the NRTB, together with a request to the Japan National Tax Agency ("NTA") to implement Mutual Agreement Procedures ("MAP") on December 2008, in order to eliminate double taxation. DENSO and its overseas subsidiaries recently received notices from the NTA and overseas tax agencies informing that agreements have been reached through the MAP.

Through these agreements, double taxation will be completely eliminated. DENSO received approximately 3.9 billion yen in Japan as a tax refund, including local taxes and the additions to taxes. Also, DENSO's overseas subsidiaries will receive a tax refund.

DENSO does not expect any significant impact on its consolidated financial result for the year ending March 31, 2013 as a result of this reassessment.

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 35 countries and regions (including Japan) and employs approximately 120,000 people. Consolidated global sales for the fiscal year ending March 31, 2012, totaled US$38.4 billion. Last fiscal year, DENSO spent 9.5 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com/global/en/, or visit our media website at www.densomediacenter.com