Operating income at components maker Denso Corporation rose 24.6% to 266.6bn yen (US$2.3bn), for the year to 31 March.

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Net income was up 27.9% to 169.6bn yen on sales of 3,188.3bn yen, a 13.9% increase.


“This year we have hit record highs for consolidated net sales, consolidated operating income and consolidated net income,” said Denso managing officer Koji Kobayashi.


“These favourable results are due to a continued increase in domestic and overseas car production for Japanese auto manufacturers.”


Sales in Japan were up 11% to 2,289.0bn yen  while operating income rose 15.4% to 207.7bn yen (US$1.8bn). Sales were helped by strong domestic car production and the increased volume of navigation systems.

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In North, Central and South America, strong production by Japanese auto manufacturers in North America contributed to a 19% increase in sales to 690.4bn yen.


However, despite increased sales, operating income fell 7.5% to due to extra costs related to production increases, new product additions and an increase in fixed costs.


In Europe, increased sales of car navigation systems, car air conditioners, and diesel common rail injection systems helped sales rise 13% to 423.0bn yen.


With the contribution of increased production volume in Hungary and the Czech Republic, operating income improved from a loss in the previous year to a gain of 1.6bn yen.


In Asia and Oceania, sales were up 38.5% to 395.1bn yen while operating income soared 82.9% to 36.7bn yen.


Strong production for the Toyota Innovative International Multi-purpose Vehicle and other Japanese auto manufacturers in Asia and Oceania led to the increases.


Denso has revised upwards its forecasts for the fiscal year ending 31 March, 2007.


It now expects net sales of 3.380bn yen (up 6%); and net income up 2% to 173bn yen.