DENSO Corporation
FLOSFIA Inc.

DENSO and Kyoto University Startup FLOSFIA will Develop
Next-Gen Power Semiconductor Device for Electrified Vehicles–DENSO also joins FLOSFIA series C funding round, investing in criticaltechnology for the future of electrified vehicles –KARIYA (Japan) ― DENSO Corporation, one of the world’s largest automotive suppliers, andFLOSFIA Inc., a tech startup spun from Kyoto University, are partnering to develop anext-generation power semiconductor device expected to reduce the energy loss, cost, size andweight of inverters used in electrified vehicles (EVs). Through the joint development project, thetwo companies aim to improve the efficiency of EV power control units, a key to drive widespread
EV use, and usher in a future of safer, more sustainable mobility.

In addition to the joint development partnership, DENSO has acquired new shares issued byFLOSFIA in its Series C funding round.

Professor Shizuo Fujita at Kyoto University pioneered the application of corundum structured
gallium oxide (α-Ga2O3) for use in semiconductors. α-Ga2O3 semiconductors provide superior
performance to other semiconductors on the market. These semiconductors have a widebandgap of 5.3 eV and high electric breakdown field strength, meaning they can better withstandhigh voltage applications. α-Ga2O3 will replace today’s current silicon (Si) and silicon carbide (SiC)
power semiconductors and help further develop the technologies that make tomorrow’s electrified
vehicles a reality.

Originally established at Kyoto University in 2011, FLOSFIA is a world leader in R&D andcommercializing α-Ga2O3. Aligning with its vision to create the future of mobility throughConnected, Automated Drive, and Electrification technologies, DENSO became interested in
FLOSFIA’s technology. The two will further research and develop technology in high-voltage
products for hybrid and electric vehicles, including semiconductors.

Since 2007, DENSO has provided power control units (PCUs) for hybrid and electric vehicles.
PCUs use an inverter to control the power supplied from the battery to the motor generator. To
use electric energy more efficiently, energy losses during the DC to AC conversion by the inverter
must be reduced, and so DENSO is conducting R&D on low-loss power semiconductors.

Financial terms of the investment were not disclosed.
- more -About DENSO Corporation
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive
supplier of advanced technology, systems and components in the areas of thermal, powertrain control,
electronics and information and safety. Its customers include all the world's major carmakers.
Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions(including Japan) and employs more than 150,000 people. Consolidated global sales for the fiscal year
ending March 31, 2017, totaled US$40.4 billion. Last fiscal year, DENSO spent 9.0 percent of its global
consolidated sales on research and development. DENSO common stock is traded on the Tokyo andNagoya stock exchanges. For more information, go to www.denso.com, or visit our media website atwww.denso.com/global/en/news/media-center/
About FLOSFIA Inc.
FLOSFIA Inc., headquartered in Kyoto, Kyoto prefecture, Japan, is a spin-off from a research of Kyoto
University, specializing in film-formation by mist chemical vapor deposition (CVD). Making use ofphysical properties of gallium oxide (Ga2O3), FLOSFIA has devoted to development of low-loss powerdevices. FLOSFIA succeeded in a development of a Schottky Barrier Diode (SBD) with the lowest
specific on-resistance of any SBDs currently available on the market (through an internal investigation),
realizing technologies linked to power loss reduction that is reduced up to 90 percent less than before.
Flosfia will now develop its own production lines with a view to launching commercial production in2018.FLOSFIA produces a variety of thin films, enhancing MISTDRY™ technology, achieving
commercialization of power devices, and realizing application of its technology to electrode materials,oxide compounds with functional properties for electronic devices, plating and polymers. For more
information, go to http://www.flosfia.com/