ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Oct 29, 2020 12:57 JST
Source:
Denso
DENSO Announces First-half Financial Results
TOKYO, Oct 29, 2020 - (JCN Newswire) - DENSO, a leading mobility supplier whose 2021 fiscal begins April 1, 2020, and ends March 31, 2021, today announced its global financial results for the first half of its fiscal year, ending September 30:
- Consolidated revenue totaled 2,074.7 billion yen (US$19.6 billion), a 20.8 percent decrease from the previous year.
- Consolidated operating profit totaled -69.6 billion yen (US$-658.1million).
- Consolidated profit attributable to owners of the parent company totaled -71.1 billion yen
(US$-672.2 million).
"Revenues decreased due to a significant decline in vehicle sales in the first quarter as a result of COVID-19, and although there was a recovery trend from the second quarter, overall sales decreased in the first half. Operating income was in the black in the second quarter because of additional measures, but operating loss was recorded in the first half due to production volume decreases," said Yasushi Yamanaka, executive vice president of DENSO Corporation.
In Japan, despite an increase in sales due to the transfer of the Hirose Plant and an increase in sales to Toyota Motor Corporation in the 2nd Quarter, sales revenue decreased to 1,324.8 billion yen ((US$12.5 billion) (Down 301.3 billion yen, 18.5% from the same quarter in the previous year). DENSO recorded an operating loss of 93.1 billion yen (Operating income of 56.4 billion yen in the same quarter of the previous year) due to the impact of COVID-19, which resulted in production volume decrease.
In North America, although vehicle production has been on a recovery track since the 2nd Quarter, sales revenue decreased to 436.3 billion yen (US$4.1 billion) (Down 167.2 billion yen, 27.7% from the same quarter in the previous year). Operating loss was 8.5 billion yen (Operating income of 11.2 billion yen in the same quarter of the previous year) due to COVID-19-related production volume decreases.
In Europe, sales revenue decreased to 200.2 billion yen (US$1.9 billion) (Down 94.7 billion yen, 32.1% from the same quarter in the previous year) due to a decrease in vehicle sales caused by COVID-19. Operating loss was 4 billion yen (Operating income of 6.3 billion yen in the same quarter of the previous year) due to a production volume decrease.
In Asia, sales revenue decreased to 549.9 billion yen (US$ 5.2 billion) (Down 110.1 billion yen, 16.7% from the same quarter in the previous year) due to the slowdown of the market. Operating income decreased to 29.8 billion yen (Down 20.6 billion yen, 40.9% from the same quarter in the previous year) due to the impact of production volume decreases.
In other areas, net sales decreased to 14.4 billion yen (US$135.9 million) (Down 20.1 billion yen, 58.4% from the same quarter in the previous year) and operating income decreased to 2.7 billion yen (Down 3.6 billion yen, 56.8% from the same quarter in the previous year).
"Regarding the full-year forecast, while vehicle sales are recovering, there are concerns that COVID-19 has the potential to resurge in different regions and the outlook is uncertain, so we have decided to leave the forecast unchanged. In addition, the year-end dividend forecast is 70 yen." said Yamanaka.
(Foreign exchange rates used for the full-year are US$= 106 yen, Euro= 120yen)
(Notes)
The above forecasts are created based on the information obtained by the date of this announcement and the actual results may differ due to various causes in the future. U.S. dollar amounts have been translated, for convenience only, at the rate of 105.80 yen=USD1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market September. 30, 2020. Billion is used in the American sense of one thousand million.
Source: Denso
Sectors: Automotive
Copyright ©2025 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
Approval in Principle (AiP) for World's First LCO2 / Methanol Carrier
Jun 30, 2025 20:30 JST
Acropolis Rally Greece: Day 4 Sunday success and second overall for TOYOTA GAZOO Racing's Ogier
Jun 30, 2025 20:15 JST
Mitsubishi Fuso-Hino Merger: 4 Firms Collaborate for the Future of Commercial Vehicles
Jun 30, 2025 20:10 JST
Six Companies Establish BlueRebirth Council to Expand Use of Recycled Materials in New Vehicles
Jun 30, 2025 19:25 JST
Honda Changes Plan to Build New Production Plant for Next-generation Fuel Cell Module in Japan
Jun 30, 2025 19:20 JST
MHI-AC&R Receives Recommendation Award of JARAC's 42nd Excellent Energy Saving Equipment Awards
Jun 30, 2025 19:00 JST
The University of Osaka and Fujitsu Japan launch joint research on AI-powered education support for culturally and linguistically diverse children in Japan
Jun 30, 2025 12:00 JST
JCB has launched contactless subway payment services in Shanghai and Beijing, marking the first such service in mainland China
Jun 30, 2025 12:00 JST
Honda Opens "Honda Software Studio Osaka" as New Software Development Operation
Jun 26, 2025 13:30 JST
Honda Issues "Honda ESG Report 2025"
Jun 26, 2025 13:29 JST
Fujitsu's Uvance Wayfinders consulting empowers customers to evolve business foundations leveraging data and AI
Jun 26, 2025 11:00 JST
MHI Receives Contract for Refurbishment of APM System at Singapore Changi Airport
Jun 25, 2025 14:00 JST
Special Summer Event "Tanabata Festival at Anime Tokyo Station" Feature a Public Recording of a Chat and Dramatic Reading by Voice Actors Miina Tominaga and Wataru Takagi on July 7
Jun 25, 2025 11:00 JST
Technica Zen and BSI Professional Services Japan Launch Customizable Training to Strengthen AI Governance in Japanese Companies
Jun 25, 2025 10:00 JST
Executive Appointments in Connection with the Establishment of NESIC Holdings
Jun 23, 2025 19:22 JST
Hua Medicine Announces at 2025 ADA Scientific Sessions that Dorzagliatin Combined with DPP-4 Inhibitor Shows Promise in Reducing Blood Lipids While Restoring Glucose Homeostasis
Jun 23, 2025 13:05 JST
CanSinoBIO Launches Pneumococcal Vaccine: An Innovative Choice to Safeguard Children's Health
Jun 20, 2025 19:06 JST
Sharp Launches A2 Size ePoster Color Electronic Paper Display
Jun 19, 2025 12:08 JST
Fujitsu unveils AI-powered presentation technology, enabling automated multilingual and customizable presentations
Jun 19, 2025 10:25 JST
ULVAC Continues Participation in "Lab-in-Fab" Project to Advance Piezoelectric MEMS Technology, Now Entering a New Phase
Jun 19, 2025 09:30 JST
More Latest Release >>
Related Release
Six Companies Establish BlueRebirth Council to Expand Use of Recycled Materials in New Vehicles
6/30/2025 7:25:00 PM JST
Implementation of Measures to Enhance Our Corporate Value in Connection with Toyota Industries Corporation
6/3/2025 7:54:00 PM JST
Five Toyota Group Companies to Accelerate Skill Development and Innovation in AI and Software
5/23/2025 10:51:00 AM JST
DENSO Announces Year-End Financial Results
4/25/2025 12:17:00 PM JST
DENSO and DELPHY Sign Memorandum of Understanding to Develop Data-Driven Smart Horticulture
4/24/2025 6:43:00 PM JST
DENSO the First Company Headquartered in Japan to Acquire EcoPass Certification from Catena-X
3/24/2025 6:02:00 PM JST
DENSO Announces Third Quarter Financial Results
1/31/2025 6:09:00 PM JST
DENSO Exhibits at Bharat Mobility Global Expo 2025, New Delhi
1/20/2025 8:26:00 PM JST
Suzuki's First BEV "e VITARA" Adopts eAxle
1/20/2025 1:58:00 PM JST
DENSO and onsemi Collaborate for a Strengthened Relationship
12/17/2024 2:26:00 PM JST
More Press release >>