DENSO Announces Second Quarter Financial Results

Oct 29, 2021 16:39 JST

Source: Denso

KARIYA, JAPAN, Oct 29, 2021 - (JCN Newswire) - DENSO, a leading mobility supplier, today announced its global financial results for its second quarter, ending September 30, 2021, for its 2022 fiscal year, ending March 31, 2022:

- Consolidated revenue totaled 2,582.9 billion yen (US$23.1 billion), a 24.5 percent increase from the previous year.
- Consolidated operating profit totaled159.3 billion yen (US$1,423.5 million).
- Consolidated profit attributable to owners of the parent company totaled 112.7 billion yen (US$1,007.2 million).

"Both revenue and operating profit increased due to recovery of vehicle sales from COVID-19 and because of profit improvements from the previous year, although the semiconductor shortage has occurred recently," said Yukihiro Shinohara, senior executive officer and representative member of the Board of Directors of DENSO Corporation.

"While it is difficult to project how the business environment might change due to factors like the lengthening of the semiconductor shortage, DENSO secured our full-year forecast from the previous announcement. Revenue is 5,540.0 billion yen (US$49.5 million) and Operating profit is 440.0 billion yen (US$3,931.4 billion). We have achieved these results by strengthening our ability to cope with environmental changes and increasing profit," said Yukihiro Shinohara, senior executive officer and representative member of the Board of Directors of DENSO Corporation.

Revenue and operating income increased in all areas due to recovery in vehicle sales and production, and profit improved despite semiconductor shortages.

In Japan, revenue increased to 1690.0 billion yen (US$15.1 billion) (Up 27.6% from the same quarter in the previous year) and operating income was 88.9 billion yen (US$794.5 million) (Operating loss of 93.1 billion yen in the same quarter of the previous year).

In North America, revenue increased to 564.7 billion yen (US$5.0 billion) (Up 29.4% from the same quarter in the previous year) and operating income was 2.9 billion yen (US$25.8 million) (Operating loss of 8.5 billion yen in the same quarter of the previous year).

In Europe, revenue increased to 269.5 billion yen (US$2.4 billion) (Up 34.6% from the same quarter in the previous year) and operating income was 3.9 billion yen (US$34.6 million) (Operating loss of 4.0 billion yen in the same quarter of the previous year).

In Asia, revenue increased to 715.5 billion yen (US$6.4 billion) (Up 30.1% from the same quarter in the previous year) and operating income increased to 57.4 billion yen (US$512.7 million) (Up92.5% from the same quarter in the previous year).

In other areas, revenue increased to 36.1 billion yen (US$322.5 million) (Up 151.1% from the same quarter in the previous year) and operating income increased to 8.0 billion yen (US$71.3 million) (Up 194.7% from the same quarter in 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 111.92 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on September. 30, 2021. Billion is used in the American sense of one thousand million.

Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2022, as a precondition are US$=107.4 yen, Euro=127.9yen.

About DENSO

DENSO is a $44.6 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 10.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2021. For more information about global DENSO, visit https://www.denso.com/global

Source: Denso
Sectors: Automotive