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Katsuhiko Takeuchi, Denso corporation’s executive officer in charge of the Japanese company’s Hungarian unit, received the Republic of Hungary’s Order of Merit, Knight’s Cross. Péter Szijjártó, the minister of foreign affairs and trade, thanked Takeuchi and Denso for their trust in Hungary, which, he said, had been given the opportunity to prove it can manufacture world-class products.

The global economy and politics have changed fast recently, Szijjártó said at the ceremony, adding that the East had played “a crucial role” in shaping those changes. A few years ago, 70% of global investments were undertaken by western companies. Today, eastern companies outperform western ones, which have seen their share in investments fall to 40%, he said. In Hungary, investments by eastern companies have grown by 22% in recent years, he said. Denso has brought cutting-edge technology to Hungary, which was instrumental in the Hungarian car industry assuming a leading position in Europe, he said. Takeuchi said the decoration was a “great honour”, adding the country has developed much since Denso set up its plant near Székesfehérvár, central Hungary, in 1997. He thanked the Hungarian government for its “active support” for the plant’s expansion.