KARIYA, JAPAN, Apr 27, 2018 - (JCN Newswire) - Global automotive supplier DENSO Corporation today announced its global financial results for fiscal year ending March 31, 2018:
- Consolidated revenue totaled 5,108.3 billion yen (US$48.1 billion), a 12.8% increase from the previous year.
- Consolidated operating profit totaled 412.7 billion yen (US$3.9 billion), a 24.8% increase from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 320.6 billion yen (US$3.0 billion), a 24.4% increase from the previous year.
"DENSO's revenue rose due to an increase in vehicle production, as well as sales expansion. DENSO's operating profit also saw an increase due to a rise in production volume and company cost reduction efforts," said Koji Arima, president and CEO of DENSO Corporation.
In Japan, a rise in vehicle production and newly consolidated subsidiaries resulted in an increase in revenue to 3,083.8 billion yen (US$29.0 billion), a 14.8% growth from the previous year. As a result of the increase in production volume and cost reduction efforts, the operating profit totaled 200.7 billion yen (US$1.9 billion), a 54.2% improvement from the previous year.
In North America, sales expansion led to a rise in revenue to 1,156.3 billion yen (US$10.9 billion), a 7.3% increase from the previous year. Operating profit totaled 42.5 billion yen (US$0.4 billion), a 29.1% decrease from the previous year due to an increase in depreciation.
In Europe, a rise in both vehicle production and sales expansion led to an increase in revenue to 662.3 billion yen (US$6.2 billion), a 14.7% increase from the previous year. Due to depreciation increases, operating profit dropped to 20.1 billion yen (US$0.2 billion), a 0.5% decrease from the previous year.
In Asia, an increase in both vehicle production and sales expansion resulted in an increase in revenue to 1,322.8 billion yen (US$12.5 billion), a 16.1% rise from the previous year. As a result of the increase in production volume, operating profit totaled 136.7 billion yen (US$1.3 billion), 21.3% growth from the previous year.
In other areas, mainly the South American region, including Brazil and Argentina, revenue totaled 79.0 billion yen (US$0.7 billion), a 20.0 percent increase from the previous year. Operating profit totaled 13.4 billion yen (US$0.1 billion).
"For the new fiscal year, revenue will increase due to the increase in car production, sales expansion, and the newly consolidated subsidiaries. Despite a rise in production volume and cost reduction efforts, operating profit will decrease due to an increase in investment for future growth, in addition to the impact of the yen's appreciation and increase of material costs," said Arima.
(Foreign exchange rates used for the full-year are US$=105 yen, Euro=130 yen)
DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3% of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.
Sadayoshi Yokoyama, Toshiko Watanabe
Apr 27, 2018 14:07 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.