Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 31 October 2018, 13:57 HKT/SGT
Share:
    

Source: Denso
DENSO Announces First-half Financial Results

TOKYO, Oct 31, 2018 - (JCN Newswire) - Global automotive supplier DENSO Corporation today announced its global financial results for the first half ending September 30, 2018 for fiscal year ending March 31, 2019:

- Consolidated revenue totaled 2,625.0 billion yen (US$23.1 billion), an 11.1 percent increase from the previous year.
- Consolidated operating profit totaled 152.4 billion yen (US$1.3 billion), a 25.5 percent decrease from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 114.1 billion yen (US$1.0 billion), a 26.0 percent decrease from the previous year.

"DENSO's revenue rose due to an increase in global vehicle production in spite of natural disasters. In addition, newly consolidated subsidiary, DENSO TEN, contributed to growth in revenue. Operating profit decreased due to transient profit in the last fiscal year, variance of periods in collecting expenses and increase in investment for future growth toward becoming a leading mobility supplier," said Koji Arima, president and CEO of DENSO Corporation.

In Japan, in spite of natural disasters, an increase in vehicles equipped with safety-related products, as well as the impact from the newly consolidated subsidiary resulted in an increase in revenue to 1,573.2 billion yen (US$13.9 billion), an 11.8 percent growth from the previous year. Despite a rise in production volume and cost-reduction efforts, an increase in investment for future growth and the impact of transient profit in the last fiscal year led to a drop in operating profit to 53.3 billion yen (US$469.1 million), a 49.5 percent down from the previous year.

In North America, sales expansion led to an increase in revenue to 604.1 billion yen (US$5.3 billion), a 10.2 percent increase from the previous year. Operating profit totaled 15.5 billion yen (US$136.5 million), a 25.5 percent decrease from the previous year due to the increase in expenses for R&D and the investments for expanding production capabilities.

In Europe, revenue totaled 332.4 billion yen (US$2.9 billion), a 7.3 percent increase from the previous year. As a result of the increase in production volume and cost-reduction efforts, operating profit totaled 9.6 billion yen (US$84.4 million), an 8.0 percent increase from the previous year.

In Asia, a rise in vehicle production led to an increase in revenue to 718.1 billion yen (US$6.3 billion), a 16.0 percent rise from the previous year. As a result of the increase in production volume and cost-reduction efforts, operating profit totaled 67.8 billion yen (US$597.4 million), an 8.0 percent growth from the previous year.

In other areas, mainly the South American region, specifically Brazil and Argentina, revenue totaled 34.5 billion yen (US$304.1 million), a 14.6 percent decrease from the previous year. Operating profit totaled 5.5 billion yen (US$48.7 million), a 21.9 percent decrease from the previous year.

"Considering the first-half financial results and the latest movement in the foreign exchange markets, we have revised up our financial result forecast of operating profit for the full-year," said Arima.

(Foreign exchange rates used for the full-year financial result forecast are US$=110yen, Euro=130 yen)


About Denso

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/.

Contact:
Sadayoshi Yokoyama, Toshiko Watanabe 
DENSO CORPORATION 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 
sadayoshi_yokoyama@denso.co.jp 
toshiko_watanabe@denso.co.jp


Oct 31, 2018 13:57 HKT/SGT
Source: Denso

Topic: Press release summary
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Denso Links

http://www.globaldenso.com/en/

https://www.facebook.com/DENSOCorporation/

https://twitter.com/hashtag/denso?lang=en

https://www.youtube.com/channel/UCl8cZy9vYlTcnkVMEInM7XQ

https://ph.linkedin.com/company/denso

Denso
Mar 12, 2019 13:37 HKT/SGT
DENSO Takes a Stake in Airbiquity to Advance Connected Vehicle Technology
Feb 18, 2019 15:02 HKT/SGT
DENSO Announces New Executive Structure and Management Changes
Feb 7, 2019 12:27 HKT/SGT
DENSO Group Company, NSITEXE Takes a Stake in Next-Generation Processor Developer quadric.io to Support Future Mobility Solutions
Feb 5, 2019 15:33 HKT/SGT
DENSO Announces the Status of Acquisition of Own Shares
Feb 1, 2019 13:23 HKT/SGT
DENSO Announces Third Quarter Financial Results
Jan 7, 2019 11:02 HKT/SGT
Three of DENSO Group's Domestic Sales and Service Companies to Be Single Entity Called "DENSO Solution"
Dec 27, 2018 14:33 HKT/SGT
DENSO Announces Changes of Organization
Dec 26, 2018 15:35 HKT/SGT
AISIN and DENSO to Form a New Company to Develop and Sell Driving Modules for Electric Vehicles
Dec 26, 2018 15:07 HKT/SGT
AISIN, ADVICS, JTEKT, and DENSO to Form a New Company to Develop Integrated Control Software for Automated Driving
Dec 21, 2018 11:27 HKT/SGT
DENSO to Showcase Future of Mobility at CES 2019
More news >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: