Denso says consolidated net income for fiscal year ending 31 March, 2015, totalled US$2.4bn, a 2% increase from the previous year.
Net sales were up 5.2% to US$35.9bn, while consolidated operating income was US$3bn, down 6% from 2014.
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“Denso’s sales increased due to an overseas production volume increase,” said Denso president and CEO, Nobuaki Katoh.
“However, despite cost reduction efforts, an increase in production volume, R&D expenditures and investment costs to strengthen future growth, there was a decrease in operating income.”
“For the new fiscal year, we expect sales and income to increase from the previous year,” said Katoh.
“This is due to the increase in production volume overseas.”
