Denso has said it has revised its net profit outlook for the first half of fiscal 2008 down due to the disposal of heavily depreciated corporate bonds.
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The company now forecasts 61 billion yen in net profit on a consolidated basis for the first half of the current fiscal year ending March 31, down from its previous estimate of 76 billion yen.
Denso said it booked an extraordinary loss of 20.6 billion yen on sale of corporate bonds whose value plunged in the face of financial market turmoil.
