DENSO Announces Organizational and Executive Changes

KARIYA, Japan, Dec. 4, 2023 /PRNewswire/ -- DENSO Corporation, a leading mobility supplier, today announced changes to its organizational structure, executives' responsibilities and personnel, effective January 1, 2024.

DENSO has announced at "DENSO DIALOG DAY 2023" that it will evolve from being "a Tier 1 supplier that supports the auto industry" to "a Tier 1 supplier that supports a mobility-centered society," aiming to maximize the value of the entire mobility society, in addition to vehicles. To achieve this, DENSO has announced its commitment to three challenges: "evolution of mobility," "strengthening of foundational technology," and "creation of new value." To materialize these goals, the following organizational and executive changes will be implemented.

In terms of the executive structure, two executive vice presidents will assume responsibility for the company's major management resources in the following two areas, accelerating the formulations and execution of growth strategies. Additionally, to strengthen and expand technological development areas that will spur new growth, a Chief Innovation Officer (CIO) position will be established. Yasuhiko Yamazaki, will hold the role, focusing on technology and human resources, and also be promoted to executive vice president.

(Reference) DENSO DIALOG DAY 2023  https://www.denso.com/global/en/news/newsroom/2023/20231116-g01/

I. Organizational Changes 
1. To strongly promote the electric propulsion unit business for aerial mobility, various functions within the Electrification Business Group will be consolidated, and a new "Electric Sora-Mobi Business Promotion Department" will be established. This organization will be built with the aim of future mass production, encompassing advanced development, production technology, and quality assurance.

2. In the inverter business, DENSO has been strengthening its horizontal lineup that can be installed in various electric mobility options such as HEVs, PHEVs, BEVs, and FCEVs. However, moving forward, to expand the vertical lineup from electric drive systems to components to components such as power modules the module and power card divisions within the Advanced Devices Business Group will be consolidated into the Electrification Business Group, to establish a responsive system to meet diverse customer needs. 

3. The UX^*1 Innovation Center Dept. within the Mobility Electronics Business Group and the human research and UX development functions within the Research and Development Center will be merged to establish the "CX^*2 Center Department." By expanding the scope of consideration from the user's perspective of utilizing existing products to the customer's perspective, including services and the entire cycle, innovative UX and CX development that is in harmony with the mobility society will be promoted. 

4. To lay a foundation for DENSO's hydrogen business that combines the company's strengths in thermal management technology and advanced material technology, a new "Hydrogen Business Development Division" will be created. The aim is to connect industries using hydrogen as a core, and to connect various types of energy towards achieving a carbon-neutral society. 

^*1 UX: User Experience (customer experience in using products and services) 
^*2 CX: Customer Experience (overall customer experience from encountering products and services to after-sales support)

II. Changes to Executive Structure and Executives

Operating Officers' areas of responsibility effective January 1, 2024

Reference: Official names of CxO
CEO: Chief Executive Officer
COO: Chief Operating Officer
CRO: Chief Risk Officer
CIO: Chief Innovation Officer (Newly Established)
CCO: Chief Compliance Officer
CQO: Chief Quality Officer
CFO: Chief Financial Officer
CTO: Chief Technology Officer
CHRO: Chief Human Resources Officer
CMzO: Chief Monozukuri Officer
CSwO: Chief Software Officer 
CDO: Chief Digital Officer

About DENSO CORPORATION
Globally headquartered in Kariya, Japan, DENSO is a $47.9 billion leading 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 around 200 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company's 165,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2023. For more information about DENSO's operations worldwide, visit https://www.denso.com/global.

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SOURCE DENSO