|Traded as||TYO: 6902|
TOPIX Core 30 Component
|Industry||Auto and Truck parts|
|Founded||December 16, 1949|
|Headquarters||Kariya, Aichi, Japan|
(President and CEO)
|Revenue||¥5,108.291 billion (2018)|
|¥412.676 billion (2018)|
|¥320.561 billion (2018)|
|Total assets||¥5,764.417 billion (2018)|
|Total equity||¥3,447.082 billion (2017)|
Toyota Industries (8.72%)
After becoming independent from Toyota Motors, it was founded as Nippon Denso Co. Ltd. (日本電装株式会社 Nippon Densō Kabushiki-Gaisha) in 1949. About 25% of the company is owned by Toyota Motor. Despite being a part of the Toyota Group of companies, as of the year ending March 2016, sales to the Toyota Group accounted for less than 50% of the total revenue (44% of the revenue originated from other car manufacturers in Japan, Germany, the U.S. and China). Currently, Denso ranks the second largest auto parts supplier in the world.
As of 2016, Denso Corporation consisted of 189 subsidiaries (63 in Japan, 34 in the Americas, 34 in Europe and 58 in Asia/Oceania) with a total of 151,775 employees. The company is further escalating its global production structure by establishing manufacturing complexes in India, Mexico and Indonesia in order to accommodate further global demand for their products. In 2013 Denso was listed at #242 on the Fortune Global 500 list with a total revenue of $43.1 billion.
The word Denso 電装 (Den-So) is derived from the two Japanese words Den-Ki (Electric) and So-Chi (Device).
The company develops and manufactures various auto parts, including gasoline and diesel engine components, hybrid vehicle components, climate control systems, instrument clusters, air-bag systems, pre-crash radar systems, and spark plugs. Denso also develops and manufactures non-automotive components, such as household heating equipment, industrial robots and the QR Code. The Denso Industrial Robot gained wide public attention in Japan when it conducted a game of Shogi (Japanese Chess) against professional players.
In 2014, DENSO's global sales were distributed as follows:
- Thermal Systems 30.4%
- Powertrain Control Systems 35.0%
- Electronic Systems 15.3%
- Electric Systems 9.4%
- Electric Motors 7.0%
- Other Automotive Products 1.4%
- Industrial Systems, Consumer Products 1.1%
- Other Non-Automotive Products 0.4%
Denso being a part of the Toyota Group has been very helpful for Toyota in participating and developing cars for the top motorsports series in the world, Denso makes autoparts and many other electronics for Toyota Racing Development as well as Toyota Motorsport GmbH in Cologne, Germany who operated Toyota's Formula One Team, Toyota's World Rally Championship Team and now Toyota's FIA World Endurance Championship team, Toyota TS030 Hybrid which use a Denso Kinetic Energy Recovery System (which consists of: Motor Generator Unit (MGU), Electric Motor and Inverter) finished second in the 2013 24 Hours of Le Mans. Being a part of the Toyota family, Denso products are also used for other Japanese Motorsport cars, Example Formula Nippon, and Japan Super GT 500/300.
Denso Wave is a subsidiary that produces automatic identification products (bar-code readers and related products), industrial robots and programmable logic controllers. They are noted for creating the two dimensional QR code, are a member of the Japan Robot Association and support the ORiN standard.
DENSO International AmericaEdit
DENSO International America is the American subsidiary of DENSO Corporation.
In 1970, DENSO Corporation decided to expand overseas from Kariya, Japan to North America. In March 1971 DENSO Sales California, Inc. was founded in Hawthorne, California. The company was staffed with only 12 associates, four of them were Americans. The objective of DENSO Sales California was to promote their air conditioner systems to be options in Japanese-made vehicles.
In May 1975 DENSO Corporation opened a sales division, DENSO Sales, in Southfield, Michigan.
DENSO International America employs over 17,000 people at 38 locations between North, Central, and South America. At year end, on March 31, 2008, combined sales totaled $8.3 billion for all American locations.
On January 30, 2012, the US Justice Department announced after two years of investigation that it had discovered part of a massive price fixing scheme in which Denso and Yazaki played a significant role. The conspiracy, which fixed prices and allocated components to such car manufacturers as Toyota and Honda, extended from Michigan to Japan, where it was also under investigation. Denso agreed to pay a fine of $78 million .
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- Proud Past, Strong Future: A History of DENSO’s First 50 Years (pg. 112-115)
- Associated Press, "U.S. fines Japanese auto parts suppliers $470 million", Japan Times, 1 February 2012, p. 1.