Denso has unveiled nine-month consolidated profit attributable to parent company owners up 32% to US$2.2bn.
Consolidated revenue totalled US$32.7bn, up 11.7%, while consolidated operating profit rose 27.1% to US$2.8bn.
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“Denso’s revenue rose due to an increase in vehicle production, as well as sales expansion,” said Denso executive director, Yasushi Matsui.
“In addition, newly consolidated subsidiaries contributed to growth in revenue. Denso’s operating profit also saw an increase due to a rise in production volume and company cost reduction efforts.”
In Japan, a rise in vehicle production and newly consolidated subsidiaries resulted in an increase in revenue to US$19.7bn, a 12.6% growth from the previous year.
In North America, a sales expansion led to a rise in revenue to US$7.4bn, a 7.5% increase from the previous year.
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By GlobalDataIn Europe, a rise in both vehicle production and sales expansion led to an increase in revenue to US$4.2bn, a 14.4% rise from the previous year.
In Asia, an increase in both vehicle production and sales expansion resulted in an increase in revenue, up 16% to US$8.6bn.
In other areas, mainly the South American region, including Brazil and Argentina, revenue rose 31% to US$0.5bn.
“After considering our third-quarter financial results, and the latest movement in the foreign exchange markets, we have revised up our full-year financial result forecasts again,” added Matsui.
Denso is estimating full-year profit attributable to owners of the parent company ending fiscal year 31 March, 2018 of US$2.7bn.
