Tokyo - DENSO Corporation today announced it will establish a new company in Vigo, Spain that will begin to produce products related to car air conditioners and radiators in April 2006. The new company - DENSO SISTEMAS TERMICOS ESPANA S.A. - will be established this month with an initial capital investment of approximately 16.5million euro (US$20 million).

By fiscal year ended March 31, 2010, DENSO expects to employ 300 people with projected sales of approximately 100 million euro (US$120 million) at the new company. DENSO’s total investment in the new operation will be 21 million euro (US$25 million).

DENSO plans to begin construction of an approximately 11,000-square-meter (118,000-square-foot) facility in May, within a site of 37,000 square meters (398,000 square feet).

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world’s major carmakers. Worldwide, the company employs 90,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2003 totaled US$19.4 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com

Company Profile *Exchange rates used are 1.2 dollar per one euro, at the end of November 2003.
**100 percent DENSO-owned production company in Italy