Denso’s consolidated net sales for the fiscal year ended 31 March 2013 totalled JPY3.58tn (US$38.1bn), a 13.5% increase from the previous year.

The company’s consolidated operating income totalled JPY262.4bn, a 63.2% increase from the previous year and consolidated net income totalled JPY181.7bn, a 103.5% increase from the previous year.

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“The recovery of Japan’s car production and strong car production in both North America and Asia and Oceania resulted in an increase in sales and income,” said Nobuaki Katoh, president and CEO of Denso.

In Japan, the recovery from the earthquake and an increase in export sales led to an increase in sales to JPY2.46tn, a 12.1% increase from the previous year. Despite an increase in expenses, the increase in production volume led to an operating income of JPY170.7bn, a 103.5% increase from the previous year.

In North America, sales to GM, Ford, Chrysler, and the Japanese automakers increased, which led to an increase in sales to JPY635.4bn, a 24.1% increase from the previous year. As a result of the production volume increase, the operating income totalled JPY13.4bn, 53.1% increase from the previous year.

In Europe, a drop in vehicle production due to the economic downturn resulted in a decrease in sales to JPY372.2bn, a 3.9% drop from the previous year, and a decrease in operating income to JPY3.9bn, a 38.7% decrease from the previous year.

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In Asia and Oceania, the recovery of Japanese auto manufactures’ vehicle production resulted in a sales increase to JPY794bn, a 26.7% increase from the previous year. The increase in production volume led to an operating income of JPY73.7bn, a 23.9% increase from the previous year.

In other areas, mainly the South American region, sales totalled JPY63.9bn, a 10.7% increase from the previous year, and the operating income totalled JPY3.1bn, a 1.1% decrease from the previous year.

“This new fiscal year we expect both sales and income to increase from the previous year considering the increase of global vehicle production, as well as the depreciation of the yen,” said Katoh.

Forecast for the fiscal year ending 31 March 2014:

  • Net sales expected to reach: JPY3.8tn
  • Operating income expected to reach: JPY285bn
  • Net income expected to reach: JPY194bn