Denso’s consolidated net sales for the fiscal first quarter ended 30 June 2014 rose 3.2% year on year to JPY1.03 trillion (US$10.2bn). Operating income was down 16.7% to JPY85.05bn.
Net income 20.1% to JPY68.79bn.
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“The sales increased due to a production volume increase. Despite the variable cost reduction and the increase in production volume, the operating income decreased due to research and development expenditures and investment costs that will strength future growth,” said Kenichiro Ito, executive director of Denso.
H1 forecast
Net sales: JPY2.02 trillion
Operating income: JPY164bn
Income before income taxes and minority interests: JPY177bn
Net income: JPY116bn
Fiscal year forecast
Net sales: JPY4.14 trillion
Operating income: JPY350bn
Income before income taxes and minority interests: JPY378bn
Net income: JPY248bn
