|Friday, 2 February 2018, 16:20 HKT/SGT|
|- DENSO's revises up full-year financial results forecast again -|
KARIYA, JAPAN, Feb 2, 2018 - (JCN Newswire) - Global automotive supplier DENSO Corporation today announced its global financial results for the nine months of the fiscal year ending March 31, 2018:
- Consolidated revenue totaled 3,699.1 billion yen (US$32.7 billion), an 11.7 percent increase from the previous year.
- Consolidated operating profit totaled 314.6 billion yen (US$2.8 billion), a 27.1 percent increase from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 251.3 billion yen (US$2.2 billion), a 31.6 percent increase from the previous year.
"DENSO's revenue rose due to an increase in vehicle production, as well as sales expansion. In addition, newly consolidated subsidiaries contributed to growth in revenue. DENSO's operating profit also saw an increase due to a rise in production volume and company cost reduction efforts," said Yasushi Matsui, executive director of DENSO Corporation.
In Japan, a rise in vehicle production and newly consolidated subsidiaries resulted in an increase in revenue to 2,231.7 billion yen (US$19.7 billion), a 12.6 percent growth from the previous year. As a result of the increase in production volume and cost reduction efforts, the operating profit totaled 161.1 billion yen (US$1.4 billion), a 50.8 percent improvement from the previous year.
In North America, a sales expansion led to a rise in revenue to 840.2 billion yen (US$7.4 billion), a 7.5 percent increase from the previous year. On the other hand, the operating profit totaled 31.2 billion yen (US$0.3 billion), which resulted in a 28.3 percent decrease from the previous year due, which is attributed to increases in depreciation.
In Europe, a rise in both vehicle production and sales expansion led to an increase in revenue to 476.8 billion yen (US$4.2 billion), a 14.4 percent increase from the previous year. Due to depreciation increases, operating profit decreased to 14.0 billion yen (US$0.1 billion), a 1.9 percent decrease from the previous year.
In Asia, an increase in both vehicle production and sales expansion resulted in an increase in revenue to 973.9 billion yen (US$8.6 billion), a 16.0 percent rise from the previous year. As a result of the increase in production volume, an operating profit totaled 100.6 billion yen (US$0.9 billion), a 25.0 percent growth from the previous year.
In other areas, mainly the South American region, including Brazil and Argentina, revenue totaled 61.5 billion yen (US$0.5 billion), a 31.2 percent increase from the previous year. The operating profit totaled 11.3 billion yen (US$0.1 billion).
"After considering our third-quarter financial results, and the latest movement in the foreign exchange markets, we have revised up our full-year financial result forecasts again." said Yasushi Matsui.
(Foreign exchange rates used for the full-year are US$= 111 yen, Euro= 128 yen)
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has approximately 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8% of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.
For more information, please go to www.denso.com.
Visit our media website at www.denso.com/global/en/news/media-center/.
Sadayoshi Yokoyama, Toshiko Watanabe
Feb 2, 2018 16:20 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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