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DENSO ( (JP:6902) ) just unveiled an announcement.
DENSO has clarified its relationship with Toyota Motor Corporation, confirming that Toyota holds 22.25% of its voting rights and that DENSO is treated as an equity‑method affiliate. Despite this significant stake and the fact that sales to the Toyota group account for 48.6% of DENSO’s net sales, the company stresses that it operates independently, conducting its own R&D, production and sales, and negotiating transaction terms with Toyota group companies as it does with other customers.
The disclosure underscores both the benefits and risks of DENSO’s reliance on Toyota as a large and stable customer, noting that fluctuations in Toyota group sales could materially affect DENSO’s performance. For the fiscal year ended March 31, 2026, DENSO recorded substantial transactions with Toyota, with sales of various automotive parts reaching ¥1,686.8 billion, highlighting the scale of the commercial relationship while reiterating there are no operational constraints imposed by Toyota on DENSO’s business activities.
The most recent analyst rating on (JP:6902) stock is a Buy with a Yen2400.00 price target. To see the full list of analyst forecasts on DENSO stock, see the JP:6902 Stock Forecast page.
More about DENSO
DENSO Corporation is a major Japanese automotive parts supplier that develops, manufactures and sells a wide range of components to global carmakers. The company is closely linked to Toyota Motor Corporation, which holds 22.25% of DENSO’s voting rights, and almost half of DENSO’s net sales come from supplying parts to the Toyota group.
Average Trading Volume: 7,647,525
Technical Sentiment Signal: Sell
Current Market Cap: Yen5143.2B
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