DENSO to Form Strategic Alliance with Sharp Corp.
KARIYA (Japan) - DENSO Corporation has signed a stock subscription agreement with Sharp Corporation to purchase 2.5 billion yen (approximately US$25.4 million) shares of stock issued by Sharp. DENSO and Sharp will collaborate to create new technologies that improve the comfort, safety and convenience of vehicles by integrating vehicle technologies with home electronic technologies.
The collaboration between the two companies will mainly involve the development of comfort technologies for vehicle passengers and connecting vehicle technologies with home and home electronics.
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 36 countries and regions (including Japan) and employs more than 130,000 people. Consolidated global sales for the fiscal year ending March 31, 2013, totaled US$38.1 billion. Last fiscal year, DENSO spent 9.4 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.
Profile of Sharp
| 1.Location | Osaka, Japan |
|---|---|
| 2.President | Kozo Takahashi |
| 3.Establishment | 1935 |
| 4.Capital | 52,978 million yen (approximately US538.6 million, as of June 28, 2013) |
| 5.Sales | 2,478.6 billion yen (approximately US$25.2 billion, as of fiscal year ending March 2013) |
| 6.Employees | 50,994 (as of end of June 2013) |
| 7.Business Activities | Consumer/information products and electronic components |
*Exchange rate used is 98.36 yen to the US one dollar at the end of August 2013 for convenience only.
