Article Date:  03/05/2001

DENSO Establishes $15-Million Corporate Foundation to Support Engineering, Technology and Business Education

First Japan-based automotive supplier to set up foundation in North America

Detroit, Mich. - March 5, 2001 - DENSO International America, Inc., North American headquarters for automotive supplier giant DENSO Corporation, today announced that it has established a corporate foundation with future assets to total approximately $15 million at full endowment in 2010.

DENSO, the fourth largest automotive supplier in the world, is the first Japan-based automotive supplier in North America to establish a charitable foundation.

Tony Takeuchi, president and CEO of DENSO International America, made the announcement at the annual SAE World Congress with Foundation Board member Dr. David Cole, director of the Center for Automotive Research and management partner of the Environmental Research Institute of Michigan (ERIM).

The DENSO North America Foundation, funded by DENSO International America, will provide grants to institutions of higher education with an emphasis on engineering, technology and business. It will also provide grants to the American Red Cross to offer aid to persons and communities in distress due to the impact of natural disasters in North American locations where DENSO operates.

Proposals will be considered from universities and higher education institutions throughout North America. Eligible projects include capital campaign support, scholarship programs, undergraduate research and student projects.

Established Jan. 1, 2001, with $5 million in assets, the Foundation is incorporated in the State of Michigan as a 501(c)(3) non-profit organization.

Takeuchi said, "Four years ago, we created DENSO Vision 2005 and our mission was to contribute to a better world by creating value for society, for customers and for our employees."

DENSO has made it a priority for the past 37 years, he explained, "to support education, human services, environmental preservation and the arts. To date, our contributions total close to $10 million in North America. Now, we want to do more."

Takeuchi serves as the Foundation's founder/adviser. Officers are John Voorhorst, president; Michael Kummer, treasurer, and Barbara Wertheimer, secretary. Board of Directors members are Dr. David Cole, James Woroniecki, senior vice president, DENSO Manufacturing Tennessee in Maryville; Stanley Tooley, senior vice president, DENSO Manufacturing Michigan, Battle Creek, Mark Jonas, vice president, DENSO Sales California, Long Beach; Voorhorst, vice president, and Kummer, treasurer, both DENSO International America in Southfield, Mich.*

For more information, visit the Foundation website at www.densofoundation.org or write to: DENSO North America Foundation, 24777 Denso Dr., P.O. Box 5133, Southfield, Mich. 48086.

About DENSO

DENSO, fourth largest automotive supplier in the world, supplies advanced technology, systems and components to all major carmakers. Globally, the firm employs 81,000 people in 26 countries.

In North America, DENSO employs more than 13,000 people at 21 companies in Michigan, Tennessee, California, North Carolina, South Carolina, Virginia, Kentucky, Ontario and Nuevo Leon, Mexico.

For more information, visit www.globaldenso.com.

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