Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 31 October 2019, 10:21 HKT/SGT
Share:
    

Source: Denso
DENSO Announces First-half Financial Results

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

- Consolidated revenue totaled 2,618.4 billion yen (US$24.3 billion), a 0.2 percent decrease from the previous year.
- Consolidated operating profit totaled 134.0 billion yen (US$1.2 billion), a 12.0 percent decrease from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 104.2 billion yen (US$965.7 million), an 8.6 percent decrease from the previous year.

"DENSO revenue, not including foreign exchange fluctuations, increased due to car production growth in Japan and North America despite the market slowdown in Asia, mainly in China and India. However, with foreign exchange fluctuations included, it led to a drop in overall revenue. In spite of production volume increase and variable cost reduction, operating profit decreased due to DENSO's increased investment for future growth, as well as currency exchange loss," said Yasushi Yamanaka, executive vice president of DENSO Corporation.

In Japan, an increase in vehicle production by Toyota led to an increase in revenue to 1,626.0 billion yen (US$15.1 billion), a 3.4 percent growth from the previous year. Operating profit increased to 56.4 billion yen (US$522.6 million), a 5.9 percent up from the previous year due to a rise in production volume and cost-reduction efforts.

In North America, despite a production volume increase and sales expansion, currency exchange loss led to a decrease in revenue to 603.5 billion yen (US$5.6 billion), a 0.1 percent decrease from the previous year. Operating profit totaled 11.2 billion yen (US$103.9 million), a 27.6 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 295.0 billion yen (US$2.7 billion), an 11.3 percent decrease from the previous year due to market slowdown. Production volume decrease and currency exchange loss led a drop in operating profit to 6.3 billion yen (US$58.7 million), a 33.9 percent decrease from the previous year.

In Asia, market slowdown led to a drop in revenue to 660.0 billion yen (US$6.1 billion), an 8.1 percent down from the previous year. Operating profit totaled 50.4 billion yen (US$467.3 million), a 25.7 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 34.5 billion yen (US$319.9 million), a 0.1 percent decrease from the previous year. Operating profit totaled 6.3 billion yen (US$58.1 million), a 13.4 percent increase from the previous year.

"Considering the market slowdown and impact of currency exchange fluctuations, we have revised our financial result forecast in anticipation of these effects," said Yamanaka.

(Foreign exchange rates used for the full-year are US$=107 yen, Euro=118 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: