Global automotive supplier Denso Corporation has announced its top line revenue for the first half of the fiscal year some 8.6% up on last year.
Denso financial results for the first half of the fiscal year that ends 31 March 2018:
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
- Consolidated revenue totalled JPY2,363.5bn (US$21.0bn), a 8.6% increase from the previous year.
- Consolidated operating profit totalled JPY204.4bn (US$1.8bn), a 43.3% increase from the previous year.
- Consolidated profit attributable to owners of the parent company totalled JPY154.2bn (US$1.4bn), a 58.2% increase from the previous year.
- Annual dividend payment will be JPY130 per one stock, a JPY5 increase from the previous forecast on each of interim and fiscal year-end payment.
“Denso’s revenue increased due to an increase in vehicle production, as well as sales expansion. Denso’s operating profit also saw an increase due to the production volume increase and company cost reduction efforts,” said Koji Arima, president and CEO of Denso Corporation.
In Japan, a rise in vehicle production resulted in an increase in revenue to JPY1,406.9bn (US$12.5bn), a 8.9% growth from the previous year. As a result of the increase in production volume and cost reduction efforts, the operating profit totalled JPY105.5bn (US$935.8m), a 100.7% increase from the previous year.
In North America, a sales expansion led to an increase in revenue to JPY548.1bn (US$4.9bn), a 6.1% increase from the previous year. On the other hand, the operating profit totalled JPY20.8bn (US$184.5m), which resulted in a 29.5% decrease from the previous year due, which is attributed to depreciation increases.
In Europe, the slight rise in vehicle production by the moderate recovery of the market led to an increase in revenue to JPY309.9bn (US$2.7bn), a 10.6% increase from the previous year. Due to depreciation increases, operating profit decreased to JPY8.9bn (US$78.7m), a 5.1% decrease from the previous year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIn Asia, an increase in both vehicle production and sales expansion resulted in an increase in revenue to JPY619.2bn (US$5.5bn), a 14.8% rise from the previous year. As a result of the increase in production volume, an operating profit totalled JPY62.8bn (US$557.5m), a 36.3% growth from the previous year.
In other areas, mainly the South American region, including Brazil and Argentina, revenue totalled JPY40.4bn (US$358.7m), a 32.7% increase from the previous year. The operating profit totalled JPY7.1bn (US$62.8m).
“After considering our first-half financial results, and the latest movement in the foreign exchange markets, we have revised up our full-year financial result forecasts. We also revised up dividend payment for both of interim and fiscal year-end,” said Koji Arima.
