Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 31 July 2019, 12:05 HKT/SGT
Share:
    

Source: Denso
DENSO Announces First-quarter Financial Results

TOKYO, July 31, 2019 - (JCN Newswire) - DENSO, the world's second largest mobility supplier, today announced its global financial results for the first quarter ending June 30, 2019 for fiscal year ending March 31, 2020:

- Consolidated revenue totaled 1,324.1 billion yen (US$12.3 billion), a 0.5 percent decrease from the previous year.
- Consolidated operating profit totaled 69.1 billion yen (US$641.5 million), a 23.9 percent decrease from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 57.2 billion yen (US$530.3 million), a 26.1 percent decrease from the previous year.

"Despite market slowdown in Europe and China, revenue, not including foreign exchange fluctuations, increased due to an increase in car production by Toyota. However, foreign exchange fluctuations led to a drop in revenue. Operating profit decreased due to an increase in investment for future growth and IT investment for improving productivity and promoting work style reform, as well as currency exchange loss," said Yasushi Matsui, senior executive officer of DENSO Corporation.

In Japan, an increase in vehicle production led to an increase in revenue to 796.5 billion yen (US$7.4 billion), a 2.3 percent growth from the previous year. Despite a rise in production volume and cost-reduction efforts, there was a drop in operating profit to 23.5 billion yen (US$218.3 million), a 31.0 percent down from the previous year. This is attributed to investments for future growth.

In North America, a production volume increase and sales expansion led to an increase in revenue to 315.4 billion yen (US$2.9 billion), an 1.4 percent increase from the previous year. Operating profit totaled 8.2 billion yen (US$75.9 million), a 29.8 percent decrease from the previous year due to the increase in expenses for R&D and investments to expand electrification production capabilities.

In Europe, revenue totaled 158.7 billion yen (US$1.5 billion), a 12.8 percent decrease from the previous year due to market slowdown. Despite cost-reduction efforts, production volume decrease and currency exchange loss led a drop in operating profit to 3.2 billion yen (US$30.1 million), a 53.9 percent decrease from the previous year.

In Asia, market slowdown led to a drop in revenue to 329.1 billion yen (US$3.1 billion), an 8.1 percent down from the previous year. In spite of cost-reduction efforts, operating profit totaled 25.1 billion yen (US$232.9 million), a 25.5 percent decrease from the previous year. This is attributed to production volume decrease and currency exchange loss.

In other areas, mainly the South American region, specifically Brazil and Argentina, revenue totaled 18.4 billion yen (US$170.8 million), a 7.4 percent increase from the previous year. Operating profit totaled 4.1 billion yen (US$38.4 million), a 59.2 percent increase from the previous year.

"For the new fiscal year, we have not revised revenue and operating profit due to uncertainty of market and currency exchange fluctuations," said Matsui.

(Foreign exchange rates used for the full-year are US$=110 yen, Euro=125 yen)


Contact:
DENSO CORPORATION 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 


Topic: Press release summary
Source: Denso

Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 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
Dec 17, 2024 13:26 HKT/SGT
DENSO and onsemi Collaborate for a Strengthened Relationship
Dec 4, 2024 16:51 HKT/SGT
DENSO Signs Memorandum of Understanding with Canatu of Finland for Practical Application of Carbon Nanotube Technology
Dec 2, 2024 21:38 HKT/SGT
DENSO to Exhibit at "Automechanika Dubai 2024"
Oct 29, 2024 12:03 HKT/SGT
DENSO and U.S. Startup Quadric Sign Development License Agreement for AI Semiconductor (NPU)
Oct 1, 2024 08:27 HKT/SGT
DENSO and ROHM Agree to Start Consideration of Strategic Partnership in the Semiconductor Field
Sept 30, 2024 12:22 HKT/SGT
DENSO Announces Changes of Executive Responsibility and Executive Officers
Sept 16, 2024 18:54 HKT/SGT
DENSO Wins Medals at 47th WorldSkills Competition
Sept 13, 2024 08:59 HKT/SGT
DENSO to Transfer All Its NiPPA Shares to Nippon Mirai Capital
Sept 9, 2024 16:15 HKT/SGT
DENSO to Build a New Plant at the Zenmyo Plant
Sept 5, 2024 16:41 HKT/SGT
DENSO Fukushima Launches Production of Inverters
More news >>
 News Alerts
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: