2008-12-11

Toyota Tsusho and DENSO Dissolve Mobile Phone Sales Divisions to Establish New Joint Company in Japan

  Toyota Tsusho Corporation and DENSO Corporation reached an agreement to dissolve their respective mobile phone sales divisions in related subsidiaries and together establish a new joint company called TD mobile Corporation on April 1, 2009.

  In Japan, not only has the mobile phone market grown to more than 100 million units, mobile phone capabilities have become increasingly advanced. In addition to conventional aftermarket services like unit replacement and repairs, mobile phone providers must offer expanded services such as new service propositions and consultations about the phone's advanced  capabilities.

  By establishing the TD mobile Corporation in this business environment, Toyota Tsusho and DENSO aim to acquire a firm share in the expanding mobile phone market where 40 to 45 million units are replaced each year. The new company will utilize customer satisfaction and efficient management know-how to promote enhanced store operations, corporate and dealer sales, and content development.

  TD mobile Corporation also will promote the development of mobile phone services for corporate customers and services that coordinate with automobiles. The new company's sales target for the fiscal year ending March 2010 is 85 billion yen.

  Toyota Tsusho Corporation, headquartered in Nagoya, Japan, is the sole trading company of the Toyota Group.  The company's business includes domestic wholesale, exports, imports, overseas trading, contract construction, and insurance agency businesses. Worldwide, the Toyota Tsusho Group employs approximately 23,000 people in 63 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2008 totaled US$69.8 billion.

  DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world's major carmakers. Worldwide, the company employs approximately 119,000 people in 32 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2008 totaled US$40.2 billion.

Summary of new company
Company name          : TD mobile Corporation
Location                   : Tokyo, Japan (site currently being selected)
Establishment date     : April 1, 2009
Capital                     : 490 million yen
Controlling shares       : Toyota Tsusho (51 %) and DENSO (49 %)
Representative officer : to be elected from within Toyota Tsusho Group
Business lines            : Dealerships operations for mobile phones,  development and distribution of content for mobile phones
Number of employees  : 1,300


press release (original)(18KB)