SCOTTSDALE, Ariz. & KARIYA, Japan--(BUSINESS WIRE)--Dec. 16, 2024--onsemi (Nasdaq: ON) and tier-one automotive supplier DENSO CORPORATION announced today that they are strengthening their long-term relationship to support the procurement of autonomous driving (AD) and advanced driver assistance systems (ADAS) technologies.

For over 10 years, onsemi has been supplying DENSO with the latest intelligent automotive sensors to enhance ADAS and AD performance. These semiconductors have become increasingly vital in improving vehicle intelligence including connectivity, to help reduce traffic accident fatalities.

"DENSO's desire to work more closely with us demonstrates its confidence in our innovative capabilities, decades of expertise and supply resilience in automotive technologies," said Hassane El-Khoury, president and CEO of onsemi.

"As the second largest global supplier of automotive systems and parts, DENSO depends on a robust supply chain for critical materials like semiconductors to continue to reliably serve our customers with cutting-edge products," said Shinnosuke Hayashi, president of DENSO CORPORATION. "Therefore, it is essential to collaborate closely with industry leaders like onsemi, which has been improving the safety and autonomy of vehicles with its intelligent sensing technologies for years and provides the supply assurance we expect."

As a mark of their collaboration, DENSO intends to acquire onsemi shares on the open market, aiming to further enhance their long-term relationship.

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world's most complex challenges and leads the way to creating a safer, cleaner and smarter world. onsemi is recognized as a Fortune 500 company and included in the Nasdaq-100 Index and S&P 500 index. Learn more about onsemi at .

onsemi and the onsemi logo are trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.

About DENSO CORPORATION

Globally headquartered in Kariya, Japan, DENSO is a $47.2 billion leading mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in around 180 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company's 162,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 7.7 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2024. For more information about DENSO's operations worldwide, visit .

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Krystal Heaton
Director, Head of Public Relations
onsemi
(480) 242-6943
Krystal.Heaton@onsemi.com
Parag Agarwal
Vice President - Investor Relations & Corporate Development
onsemi
(602) 244-3437
investor@onsemi.com
Public Relations Division
DENSO CORPORATION
denso-pr@jp.denso.com

Source: onsemi