Denso Corporation has boosted net income for the fiscal year ended March 31, 2005 by 20.5% to 132.6 billion yen ($US1.2 billion).

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Consolidated operating income of 213.8 billion yen was up 13.4% and consolidated net sales rose 9.3% to 2,799.9 billion yen.


“This year we have hit record highs for consolidated net sales, consolidated operating income and consolidated net income,” said managing officer Nobuaki Katoh. “These favourable results are due to a continued increase in domestic and overseas car production for Japanese auto manufacturers.”


In Japan, sales totaled 2,060.6 billion yen, a 9.3% increase from the previous year, and operating income totaled 180.0 billion yen, a 17.3% increase from the previous year. The sales increase was led by strong domestic car production and the increased sales of ITS (Intelligent Transport Systems) products, including car navigation systems.


In spite of steadily increasing production volume for Japanese auto manufacturers in North America, Central America and South America, the appreciated yen versus the US dollar resulted in only a slight sales increase. Combined sales for those regions totalled 580.2 billion yen, a 4% increase from the previous year. In addition, the appreciation of the yen against the US dollar as well as the cost of new additions to the product line-up resulted in a 4.8% drop in operating income, to 23.6 billion yen, in spite of production volume increases and cost reductions.

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In Europe, sales rose 10.6% to 374.1 billion yen due to expanded sales of diesel common rail systems and car navigation systems.  However, start-up costs in the Czech Republic and expansion of production capacity in Hungary led to an 8.8 billion yen operating loss.


In Asia and Oceania, sales rose 30.1% to 290.9 billion yen operating income was up 34.7% to 20.1 billion yen. The Toyota Innovative International Multi-purpose Vehicle project, especially in ASEAN countries, resulted in an increase in both sales and operating income.