Companies Denso Corp FollowTOKYO, Nov 15 (Reuters) - Japanese automotive supplier Denso (6902.T) aims to increase its revenue from electrification to 1.2 trillion yen ($7.97 billion) by the 2025 business year and 1.7 trillion yen by the turn of the decade, the company said on Wednesday.
Denso aimed to grow its revenue from advanced-driver assistance systems (ADAS) to 520 billion yen by the 2025 business year and said it would further unwind cross-shareholdings, according to presentation materials.
"As electrification centred on battery electric vehicles progresses from the 2025 business year onward, we want to reach 1.7 trillion yen by 2030 by expanding sales globally," he said.
Denso has been ahead of other firms in actively reducing its cross-shareholdings, Matsui said, adding that none of the remaining holdings were off limits.
Denso reiterated an October commitment to invest about 500 billion yen in semiconductors by 2030 and pledged to boost the number of workers in software to some 18,000 people by 2030, about 1.5 times of their current level.
Denso, Yasushi Matsui, Matsui, Daniel Leussink, Muralikumar