Denso's first fiscal half sales rose 23% to JPY1,733.1bn (US$22.3bn). Operating income soared 328% to JPY136.3bn. Net income was up 235% to JPY78.1bn.

"The government subsidies for eco-friendly car purchases in Japan and the strong car production in North America and Asia and Oceania led to a increase in both sales and income," said president and CEO Nobuaki Katoh.

"Considering future business conditions, such as a decrease of car production in Japan, Europe and China, we made a downward revision of our year-end forecast." added Katoh.