TOKYO, Apr 28 (Pulse News Wire) – DENSO Corporation (6902.T) disclosed its relationship with major shareholder Toyota Motor Corporation, noting that Toyota holds 22.25% of its voting rights. Despite this significant shareholding, DENSO maintains operational independence through individual negotiations on trading conditions.
For the fiscal year ending March 31, 2026, DENSO reported sales to the Toyota group accounted for 70.21% of total revenue. While the company benefits from stable transactions with the group, it also faces dependency risks tied to the group's sales trends.
DENSO emphasizes its independent research and development activities, ensuring unique products are supplied to the Toyota group based on negotiated terms similar to those with other businesses. The company’s efforts to maintain autonomy are reflected in its high sales ratio without facing operational constraints from Toyota.
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