Japan’s Denso Corp. is gunning for the title of top-selling automotive parts supplier by stoking its electrification push with a bond sale and setting aside hundreds of billions of yen for deals.
Denso, the world’s No. 2 automotive parts supplier in terms of sales, plans to roughly double revenue from electrified parts to 1 trillion yen ($9.1 billion) by fiscal 2025. It aims to double that figure again by fiscal 2030, Chief Financial Officer Yasushi Matsui said in an interview at the company’s headquarters south of Tokyo on Friday.
Matsui sees EV parts as a key value generator, capable of pushing Denso above the current top-selling automotive parts maker, Germany’s Robert Bosch GmbH. “The arena they’ll chase behind us in is electrification,” Matsui said. “After all, we’ve been in that field for a long time.”