Denso has posted first-quarter revenue up 77.3% to US$12.3bn, with consolidated profit attributable to owners of the parent company, totalling US$808m.
“Revenue increased due to recovery of vehicle sales and production against COVID-19 from the previous year,” said Denso senior executive officer, Yasushi Matsui.
“Operating income increased due to higher production volume and profit improvements created by corporate reform from the previous year.
“Although it is difficult to project how the business environment might change due to factors like COVID-19 and semiconductor supply, we have achieved a favourable result in our first quarter and raised our full-year forecast.”
Revenue and operating income increased in all areas due to recovery in vehicle sales and production.