With an eye on the next generation of automotive engineers, Denso International America Inc. announces the Denso North America Foundation, with initial assets of $5 million.

Tony Takeuchi, president of Denso in North America, says the foundation will provide grants to engineering and business students throughout North America. At full endowment in 2010 assets will be $15 million. This makes Denso the first Japanese supplier to establish a charitable foundation in North America.

The foundation also will provide grants to the American Red Cross to aid victims of natural disasters in communities where Denso facilities are located.