Announcement of Absorption-type Merger (Simplified Merger and Short-form Merger) of DENSO IT Solutions Inc.

Jul 06, 2020 16:34 JST

Source: Denso

KARIYA, JAPAN, Jul 06, 2020 - (JCN Newswire) - DENSO Corporation hereby announces that it has resolved to merge its wholly-owned subsidiary DENSO IT Solutions Inc. into the Company through an absorption-type merger, effective October 1, 2020, at a board of directors meeting held today.

Please note that the disclosed items and details are partially omitted because the merger is a simplified merger of the Company's wholly-owned subsidiary.

Purpose of Merger:

The Company established DENSO IT Solutions (former company name: DENSO ISM Corporation) in October 2001. However, there is an urgent need to promote the company-wide digitalization strategy and facilitate the utilization and application of data.

Accordingly, the Company will integrate DENSO IT Solutions and enhance in-house cooperation in order to maximize the speed and performance of operations and accelerate digital transformation.

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About Denso

DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3% of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.

Source: Denso
Sectors: Enterprise IT, Automotive