Business/economy

Bosch sells shares in Denso Corporation

  • Remaining non-strategic financial investment of roughly five percent
  • 46 million shares worth approximately 1.1 billion euros sold
  • Proceeds will serve to finance capital expenditure in promising future areas, as well as company acquisitions
  • Bosch and Denso enjoy fruitful and long-standing partnership
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  • November 08, 2012
  • Business/economy
  • Press releases

press release

Stuttgart/Tokyo – The Bosch Group has sold its remaining shares in Denso Corporation, Japan. The roughly five percent stake in Denso that Robert Bosch Investment Nederland B.V. still held was sold recently. The shareholding was a non-strategic financial investment that Bosch had held since the mid 1950s. Bosch had already sold part of its original investment in 2009. For the roughly 46 million Denso shares, Bosch has received some 1.1 billion euros. The cash funds will be used for capital expenditure in areas with a promising future, as well as to finance acquisitions.

An alliance stretching back nearly 60 years
The sale of shares in no way affects the long-standing and successful relationship between Bosch and Denso. “For nearly 60 years now, the two companies have been cooperating in the automotive supply industry. The basis of this successful cooperation has always been mutual trust and the common desire for excellent technical solutions,” said Dr. Stefan Asenkerschbaumer, the chief financial officer of Robert Bosch GmbH. He added that these would remain the pillars of the relationship between Bosch and Denso in the future as well. The two companies will continue to work together within the framework of existing partnerships and alliances. In the future, Bosch and Denso will continue to examine opportunities for alliances that will allow them to satisfy the requirements of the global automotive industry.

Fruitful and long-standing partnership
Bosch and the Japanese Denso Corporation have enjoyed many years of partnership. As early as 1953, the two companies (at that time Denso was still called Nippondenso Ltd.) signed a first license agreement concerning the manufacture of electric automotive equipment such as generators and starters. In 1956, they expanded their license agreement to include the manufacture of spark plugs. Up until recently, agreements have been extended and new ones signed. Bosch and Denso are also shareholders in the Associated Fuel Pump Systems Corporation (AFCO) and Advanced Driver Information Technology Corporation (ADIT) joint ventures. AFCO has produced fuel pumps for vehicles in the U.S. city of Anderson, South Carolina, since 1989. ADIT, which was set up in 2003, develops platforms for vehicle infotainment systems in Kariya, Japan and Hildesheim, Germany.

Contact persons for press inquiries:
Germany
René Ziegler, Phone: +49 711 811-7639

Japan
Naomi Funada, Phone: +81 3 5485-3393

The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

PI7953 - November 08, 2012

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