Supplier Denso said consolidated revenue for the fiscal year to 31 March 2023 rose 16.1% year on year to JPY6,401.3bn (US$47.9bn) while consolidated operating profit was up 24.9% to JPY426.1bn ($3.2bn).

Net profit rose 19.2% to JPY314.6bn ($2.4bn).

“Revenue and operating profit increased compared to the previous year, reaching their highest ever levels, due to sales recovery and expansion, foreign exchange gains and profit improvements,” said CEO and CFO Yasushi Matsui in a statement.

“In the next fiscal year, we forecast JPY6,300bn ($47.2bn) in revenue and JPY510bn ($3.8bn) in operating income.

“Revenue will be based on strong sales expansions in focus areas. On the other hand, we also forecast the potential risk of a vehicle production cut of around 10%, given uncertainties in the external environment. Operating income will be based on the extent of growth, as well as disciplined control of fixed costs and further strengthening of our ability to respond to fluctuations.”

The annual dividend is up JPY5 to JPY185 and the forecast for fiscal 2023/4 is JPY190, up another JPY5.

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By GlobalData

Forecast for Fiscal Year Ending 31 March, 2024

 Full-Year Forecast Changes from

Previous FY


 6,300.0 billion yen

[US$47.2 billion]
 -101.3 billion yen

(-1.6 percent)

 Operating profit

 510.0 billion yen

[US$3.8 billion]
 +83.9 billion yen

(+19.7 percent)

Profit before

profit taxes

 555.0 billion yen

[US$4.2 billion]
 +98.1 billion yen

(+21.5 percent)

Profit attributable

to owners of the

parent company

 383.0 billion yen

[US$2.9 billion]
 +68.4 billion yen

(+21.7 percent)