Denso has recorded half-year operating profit down 25.5% to US$1.3bn,  although revenue rose 11.8% to US$13.9bn.

“Denso’s revenue rose due to an increase in global vehicle production in spite of natural disasters,” said Denso president and CEO, Koji Arima. “In addition, newly consolidated subsidiary, Denso Ten, contributed to growth in revenue.

“Operating profit decreased due to transient profit in the last fiscal year, variance of periods in collecting expenses and increase in investment for future growth towards becoming a leading mobility supplier.”

In Japan, in spite of natural disasters, an increase in vehicles equipped with safety-related products, as well as the impact from the newly consolidated subsidiary resulted in an increase in revenue to US$13.9bn, an 11.8% growth from the previous year.

Denso is predicting full-year operating profit to 31 March, 2019, rising US$100m to US$3.5bn.