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5. Denso Group (China) Business Report FY ended Dec. 2014

Denso Group (China) Business Report FY ended Dec. 2014

Acquisition

-Denso Group (China) announced that the company and Hefei dyne Automotive Air Conditioning Co., Ltd. signed a memorandum of understanding under which Denso will invest CNY 50 million to acquire a 34 percent shareholding in Hefei dyne Automotive Air Conditioning. Hefei dyne Automotive Air Conditioning will thereafter step up sales of air conditioner compressors by capitalizing on Denso’s global sales network. Hefei dyne Automotive Air Conditioning was established in 2012. During 2013, it produced over 380,000 compressors and generated CNY 160 million in sales. (From a press release on April 22, 2014)

Recent Development

-Guangzhou Denso Co., Ltd, the joint venture of Guangzhou Automobile Group Component Co., Ltd. and Denso (China) Investment Co., Ltd. held opening ceremony for its new plant in Zengcheng. The new plant came into operation on the same day in Feb. 2014. The first year annual output value is expected to 4 billion yuan after the plant coming into operation. (From news releases issued by multiple sources on Feb. 26, 2014)

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