Oct 28, 2022 14:21 JST

Source: Denso

DENSO Announces Second Quarter Financial Results

KARIYA, JAPAN, Oct 28, 2022 - (JCN Newswire) - DENSO, a leading mobility supplier, today announced its global financial results for its second quarter, ending September 30, 2022, for its 2023 fiscal year, ending March 31, 2023:

- Consolidated revenue totaled 3,020.1 billion yen (US$20.9 billion), a 16.9 percent increase from the previous year.
- Consolidated operating profit totaled 155.4 billion yen (US$1.1 billion), a 2.5 percent decrease from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 105.8 billion yen (US$0.7 billion), a 6.1 percent decrease from the previous year.

"Revenue in the first half of our fiscal year increased compared to the previous year due to sales recovery, sales expansion and foreign exchange gains. Operating profit slightly decreased compared to the previous year due to challenging business conditions," said Yasushi Matsui, CFO, senior executive officer and member of the Board of Directors of DENSO Corporation. "We have revised our revenue forecast for the full year based on changing foreign exchange preconditions, adjusting our revenue projection to 6,310.0 billion yen (US$43.6 billion), and we have secured our operating profit forecast from the previous announcement for the full year to 480.0 billion yen (US$3.3 billion), based on foreign exchange gains and profit improvements, though deterioration of our region mix has occurred."

In Japan, revenue increased to 1,738.9 billion yen (US$12.0 billion), increasing 2.9% from the previous year, and operating profit was 91.0 billion yen (US$628.6 million), a 2.4% increase from the previous year.

In North America, revenue increased to 715.0 billion yen (US$4.9 billion), up 26.6% from the previous year, and operating loss was 13.0 billion yen (US$89.6 million) (Operating profit of 2.9 billion yen in the same quarter of the previous year).

In Europe, revenue increased to 321.9 billion yen (US$2.2 billion), up 19.4% from the previous year, and operating profit was 3.6 billion yen (US$24.9 million), decreasing 7.0% from the previous year.

In Asia, revenue increased to 960.9 billion yen (US$6.6 billion), up 34.3% from the previous year and operating profit increased to 67.4 billion yen (US$465.1 million), a 17.4% increase from the previous year.

In other areas, revenue increased to 53.6 billion yen (US$0.4 billion), up 48.6% from the previous year, and operating profit increased to 11.4 billion yen (US$78.7 million), up 42.9% from the previous year.

(Notes)
The above forecasts are created based on 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 144.81 yen=US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on September. 30, 2022. Billion is used in the American sense of one thousand million. Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2023, as a precondition are US$= 134.5 yen, Euro=136.9 yen, CNY=19.9 yen.

About DENSO Corporation

DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves.

The company's 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. For more information about global DENSO, visit www.denso.com/global.

Source: Denso
Sectors: Automotive

Copyright ©2023 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


DENSO Demonstrates New Energy Management System Using a Highly-Efficient SOFC at Nishio Plant
May 18 2023 14:29 JST
 
DENSO and USJC Announce Mass Production Shipment of Automotive IGBT, Targeting Expanding Electric Vehicle Market
May 10 2023 16:11 JST
 
DENSO Accepts IEEE Corporate Innovation Award at Ceremony for Developing and Spreading Use of QR Code
May 09 2023 15:19 JST
 
QR Codes Become a Game!? DENSO Launches Free Online Game, 'DENSO QR Code Maze'
April 12 2023 13:32 JST
 
DENSO Develops Its First Inverter Using SiC Power Semiconductors
April 03 2023 08:38 JST
 
DENSO Wins Silver Medal at the 10th International Abilympics
March 27 2023 18:37 JST
 
DENSO and DENSO Fukushima Launch a Demonstration Project to Realize Carbon-neutral Plant Using Hydrogen
March 09 2023 17:31 JST
 
DENSO Announces Third Quarter Financial Results
February 03 2023 18:24 JST
 
DENSO Holds Annual Dialog Day, Delivers Company Direction Update
December 16 2022 17:38 JST
 
DENSO Receives Highest Rating from CDP in "Climate Change" and "Water Security"
December 13 2022 18:22 JST
 
More Press release >>

Latest Press Release


More Latest Release >>