DENSO Formally Elects New President and CEO

Other Senior Management changes also announced

TOKYO - DENSO Corporation today announced president and CEO and senior management changes, which were voted upon at todayfs annual shareholders meeting. Koichi Fukaya was appointed president and CEO. Hiromu Okabe, former president and CEO, was appointed vice chairman. These changes are effective today.

Board of Director promotions included:

Hiromu Okabe, Vice Chairman (from President and CEO)
Koichi Fukaya, President and CEO (from Senior Managing Director)
Shinro Iwatsuki, Senior Managing Director (from Managing Director)
Mitsuharu Kato, Managing Director (from Director)

New directors appointed to the Board were:

Shinji Shirasaki, Director (from General Manager, Electronics Product Division)
Shigehiro Nishimura, Director (from General Manager, Sales Planning Department)

New Auditors were:

Toshio Watanabe, Auditor (from Executive Vice President, DENSO International America, Inc.)
Fujio Cho, Auditor and Current President of Toyota Motor Corporation
Tamiki Kishida, Auditor and an academic expert in business administration

The number of external auditors was increased to three to enhance governing function.

DENSO's new Organization Chart.

DENSO Corporation, a global supplier of advanced automotive technology, systems and components, employs 90,000 people in 31 countries and regions. Consolidated sales for the fiscal year ended March 31, 2003 totaled 2,332.8 billion yen (US$19billion). DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan.