Denso has unveiled nine months consolidated operating profit for fiscal year ending 31 March, 2019 attributable to the owners of the parent company, down 23.6% at US$1.7bn.
Consolidated revenue totalled US$35.8bn, a 7.6% increase from the previous year, while consolidated operating profit was US$2.2bn, a 22.6% decrease from the previous year.
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“Denso’s revenue rose in all regions due to an increase in global vehicle production in spite of market slowdown in Europe and China,” said Denso executive director, Yasushi Matsui.
“In addition, newly consolidated subsidiary, Denso Ten, contributed to growth in revenue. Operating profit decreased due to increase in investment for future growth toward becoming a leading mobility supplier, transient profit in the last fiscal year and variance of periods in collecting expenses.
“Considering environmental factors such as market trend and the increase in raw material cost, we have revised down our financial result forecast for the full-year,” said Matsui.
