Denso has posted first half net sales totalling JPY2.07bn (US$18.9bn), a 4.2% rise, while consolidated operating income was JPY161.3bn (US$1.5bn), a 16.1% decrease from the previous year.

Consolidated net income totalled JPY122.4bn (US$1.1bn), a 18.5% decrease from the previous year.”

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“Sales increased due to the production volume increase,” said Denso president and CEO, Nobuaki Katoh.

“Despite cost reduction efforts and the increase in production volume, research and development expenditures and investment costs for strengthening future growth led to the decrease in operating income.”

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