|Friday, 27 April 2018, 14:07 HKT/SGT|
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 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
Apr 27, 2018 14:07 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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