DENSO to Acquire Company for sales of Automotive Accessories

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TOKYO - DENSO Corporation will acquire Osawa Inc., a subsidiary wholly owned by J. Osawa & Co., Ltd. on March 31, 2002. On that same date, sales of automotive accessories will begin at a new DENSO group company with the same corporate name, Osawa Inc.

Date: 02/27/2002

TOKYO - DENSO Corporation will acquire Osawa Inc., a subsidiary wholly owned by J. Osawa & Co., Ltd. on March 31, 2002. On that same date, sales of automotive accessories will begin at a new DENSO group company with the same corporate name, Osawa Inc.

DENSO reached an agreement of the acquisition with J. Osawa who had been in the restructuring process of sales and marketing function. Osawa Inc. is the largest distributor of aftermarket wipers produced by Nippon Wiper Blade Co., a DENSO group company.

"By acquiring Osawa Inc., DENSO group will ensure the current sales route of aftermarket wipers, which will strengthen the business base of Nippon Wiper Blade," said Takao Inukai, senior managing director of DENSO Corporation.

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 85,000 people in 29 countries and regions, including Japan. Consolidated global sales for the year ended March 31, 2001 totaled US$16.2 billion. DENSO common stock is traded on Tokyo, Osaka and Nagoya stock exchanges in Japan.

Contact:

Sadayoshi Yokoyama
+81 566-25-5594

sadayoshi_yokoyama@denso.co.jp

Goro Kanemasu
+81 566-25-5594

goro_kanemasu@denso.co.jp

News Source : DENSO to Acquire Company for sales of Automotive Accessories