28 January 2003

On January 27, 2003, DENSO Corporation announced the outcome of the repurchase of its own shares through N-NET of the Nagoya Stock Exchange in Japan

Descriptions Reference:

1. Decision of the repurchase of its own shares by the 79th Annual Shareholders' Meeting held on June 27, 2002
   • Type of shares: Common stock of the Company Total
   • Number of shares: Not to exceed 40,000,000 shares
   • Aggregate purchase price: Not to exceed 100 billion yen
2. Status of the repurchase progress as of January 28, 2003
   • Number of shares already repurchased: 33,300,000 shares
   • Accumulated purchase price: 64,217 million yen.

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 87,000 people in 31 countries and regions. Consolidated global sales for the year ended March 31, 2002 totalled 2,401.1 billion yen (US$18.1 billion). DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan.

Notes

The figures ended for the year March 31, 2002 include the effect of an irregular 15 month reporting period, due to 45 overseas subsidiaries and overseas affiliates deciding to change their year end to March 31 from December 31.