DENSO to Integrate the Operations of Three Group Companies in South Korea
– Integrating a range of operations including development, production and sales to increase management speed –
KARIYA (Japan) ― DENSO Corporation, one of the world’s largest suppliers of automotive technology and components, today announced that it will integrate the operations of three of its group companies: DENSO Korea Electronics Corporation, DENSO Korea Automotive Corporation, and DENSO International Korea Corporation. The combined companies will operate as DENSO Korea Corporation and will improve financial strength and achieve growth in South Korea by integrating the development, manufacturing and sales of automotive components in the region.
Since the establishment of its first production company in South Korea in 1976, DENSO has locally manufactured display products, such as instrument clusters and head-up displays, as well as car air conditioners, starters, alternators, and small motors for automakers in South Korea. In 1997, DENSO established a sales company, which is currently annexed by a technical center to fulfill development functions, in order to promote localization of operations.
The operational integration of the three companies will create synergies in both technology development and production, and incorporate sales functions to accelerate the development of products that meet the needs of local customers. The functional sections, including business planning, will be consolidated to increase management speed.
DENSO remains committed to meeting the needs of regional customers and contributing to the development of the local economy and auto industry.
Profile of DENSO Korea Corporation, a new company after operational integration
| 1. Name | DENSO Korea Corporation |
| 2. Date of operational integration | July 2, 2018 |
| 3. Location | Masanhappo-gu, Changwon-si, Gyeongsangnam-do, Korea |
| 4. Capital | 906 million yen (8.9 billion won) |
| 5. Ownership | 99.99% owned by DENSO Corporation, 0.01% owned by others |
| 6. President | Kyungseob Kim |
| 7. Employees | 2,198 |
| 8. Business description | Developing, designing, manufacturing, and selling in-vehicle electronic products, engine-related products, car air conditioners, windshield wiper systems, etc., and selling non-automotive equipment and components |
Location of the new company
Reference: profile of respective companies before integration
DENSO Korea Electronics Corporation
| 1. Name | DENSO Korea Electronics Corporation |
| 2. Establishment | June 1976 |
| 3. Location | Masanhappo-gu, Changwon-si, Gyeongsangnam-do, Korea |
| 4. Capital | 262 million yen (2.58 billion won) |
| 5. Ownership | 100% owned by DENSO Corporation |
| 6. President | Hiroshi Yagyu |
| 7. Employees | 779 (as of the end of March 2018) |
| 8. Business description | Developing, designing, manufacturing, and selling in-vehicle electronic products such as instrument clusters, head-up displays, and smart keys |
DENSO Korea Automotive Corporation
| 1. Name | DENSO Korea Automotive Corporation |
| 2. Establishment | October 2000 |
| 3. Location | Seongsan-Gu, Changwon-si, Gyeongsangnam-do, Korea |
| 4. Capital | 832 million yen (8.18 billion won) |
| 5. Ownership | 99.99% owned by DENSO Corporation, 0.01% owned by others |
| 6. President | Kyungseob Kim |
| 7. Employees | 1,261 (as of the end of March 2018) |
| 8. Business description | Manufacturing and selling engine-related products, car air conditioners, and windshield wiper systems |
DENSO International Korea Corporation
| 1. Name | DENSO International Korea Corporation |
| 2. Establishment | November 1997 |
| 3. Location | Uiwang-si, Gyeonggi-do, Korea |
| 4. Capital | 1.146 billion yen (11.27 billion won) |
| 5. Ownership | 100% owned by DENSO Corporation |
| 6. President | Yoshio Kano |
| 7. Employees | 158 (as of the end of March 2018) |
| 8. Business description | Supporting sales of automotive components and selling non-automotive equipment and components |
About DENSO Corporation
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has more than 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8 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, or visit our media website at www.denso.com/global/en/news/media-center/
