DENSO to Acquire I-Net Corporation’s 3D Business Unit

DENSO to Acquire I-Net Corporation’s 3D Business Unit

– Acquiring Technologies to Create and Analyze 3D Images –

KARIYA (Japan) ― DENSO Corporation has agreed with I-Net Corporation to acquire its 3D Business Unit, which provides software and services based on its technologies to create and analyze 3D images. The acquisition will be completed on April 1, 2012, and upon completion of ownership, the business unit will become a subsidiary of DENSO and begin operation as 3D Corporation. With the acquisition, DENSO will acquire 21 employees.

“There is a growing need for clearer and brighter images on in-vehicle displays, such as instrument clusters, car navigation systems, and head-up displays,” said Hiroyuki Wakabayashi, executive director of DENSO’s Information and Safety Systems Business Group. “DENSO will use the technologies and expertise of I-Net’s 3D Business Unit to help us develop more sophisticated display technologies.”

The 3D Business Unit has succeeded in developing 3D image-based simulation technologies, as well as software for haptic devices*1. These technologies and expertise will be used in DENSO’s development of various products, including human machine interface systems.

I-Net’s 3D Business Unit has diverse customers ranging from automobile to medical and amusement industries. 3D Corporation will continue to offer cutting-edge software and services in these industries.

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, electric, 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, 2011, totaled US$37.7 billion. Last fiscal year, DENSO spent 9.3 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.globaldenso.com, or visit our media website at www.densomediacenter.com.

Profile of 3D Corporation

1. Company name: 3D Corporation

2. Location: Kohoku-ku, Yokohama City, Japan

3. President: Yoma Watarai (currently the head of 3D Business Unit, I-Net Corporation)

4. Establishment: March 14, 2012 (operations will start on April 1, 2012)

5. Capital: 75 million yen (approximately US$0.9 million*2)

6. Ownership: 100 percent owned by DENSO Corporation

7. Sales: 400 million yen (approximately US$5.0 million*2, projection for FY2012)

8. Employees: 21

9. Business description: Development and sales of computers and its surrounding devices, and provision of software.

Profile of I-Net Corporation

1. Company name: I-Net Corporation

2. Location: Nishi-ku, Yokohama City, Japan

3. President: Shigemasa Kajimoto

4. Establishment: April 22, 1971

5. Capital: 3.2 billion yen (approximately US$39.7 million*2)

6. Sales:  20.3 billion yen

(approximately US$251.6 million*2, as of fiscal year ended March 31, 2011)

7. Employees: 1,487 (as of April 1, 2011 on a consolidated basis)

8. Business description: Development and sales of information processing systems and devices

*1 Haptic devices commercialized by DENSO include remote touch controllers used in Lexus GS, RX, and other Lexus models.

*2 Exchange rate used is 80.68 yen to the US one dollar, at the end of February 2012 for convenience only.