Denso wants to grow even faster than Japanese automakers as it follows them overseas and snares business away from local rivals in those markets.
Denso is ranked among the world's top four auto parts suppliers. Koichi Fukaya, president and CEO, told Reuters that his company is not fixated on ranking or size.
However, it does want to expand at a pace exceeding that of other car makers.
Reuters said Fukaya's stated goal demonstrates a confidence that most of its peers - ever mindful of car makers' constant nagging to lower prices-are loath to display but is understandable.
Denso's arsenal of the latest must-have electronic controls and other technology has powered double-digit growth in revenue and profits and most analysts expect the rapid growth to continue in the medium term, the Reuters report added.
Denso, affiliated with the Toyota Motor group, had revenues of 3.188 trillion yen ($28.8 billion) in the year ended 31 March - more than either Suzuki or Mazda - while its market capitalisation of $33 billion placed it second in the world among listed parts suppliers and is larger than the value of General Motors and Ford combined.
Fukaya, who joined DENSO 40 years ago, told the news agency the parts company draws its strength from its ability to stay ahead of the curve by developing next-generation safety, environmental and other value-added technology that top auto makers need to stay competitive themselves.
Fukaya believes the most important thing is to become a company that car makers can't do without. According to him, there is an important difference between coming up with better products and imitating what's already out there to offer them more cheaply.
Reuters noted that Denso, which trails Robert Bosch and bankrupt Delphi by revenue, is a leading provider of hybrid systems, as well as common rail and other diesel engine fuel injection technology.
The report said that Denso's spending on research and development has climbed at a steady pace over the past several years, while expenditures on facilities mushroomed in the year ending 31 March by 50% from four years ago to 288.71 billion yen - roughly equivalent to 9% of revenue.