Selling DENSO stock by Bosch Group
KARIYA (Japan) – DENSO Corporation today announced that Bosch Group has informed DENSO about their sale of DENSO stock.
This sale of DENSO stock represents the dissolution of capital relations and has no effect or impact on the good and sound collaborative tie-ups in technologies or joint ventures between both companies, which continues since a “License agreement” was concluded in 1953.
The two companies will continue to work together within the framework of existing partnerships and alliances. In the future, Bosch and DENSO will continue to examine opportunities for alliances that will allow them to satisfy the requirements of the global automotive industry.
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 more than 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.