DENSO Announces First-quarter Financial Results
December 20, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
DENSO Announces First-quarter Financial Results - JCN Newswire
Share:
DENSO Announces First-quarter Financial Results
 
- Upward revision to the first-half and full-year forecast -

Kariya, Japan, July 31, 2012 - (JCN Newswire) - DENSO Corporation today announced global financial results for the first quarter ending June 30, 2012:
-- Consolidated net sales totaled 882.4 billion yen (US$11.1 bil), a 40.0 percent increase from the previous year. -- Consolidated operating income totaled 78.2 bil yen (US$985.6 mil), an increase of 82.5 bil yen (US$1.0 bil) from the previous year's operating loss of 4.4 bil yen (US$55.2 mil). -- Consolidated net income totaled 49.1 bil yen (US$619.1 mil), a 1,801.7 percent increase from the previous year. "Compared to last year, DENSO's consolidated sales and income increased sharply, as our 2011 first quarter results were impacted by the Great East Japan Earthquake," said Kenichiro Ito, executive director of DENSO Corporation.

In Japan, the increase in car production due to the recovery from the earthquake and government subsidies for eco-friendly car purchases led to an increase in sales to 620.9 billion yen (US$7.8 billion), a 55.7 percent increase from the previous year. The increase in production volume led to an operating income of 55.1 billion yen (US$694.7 million), an increase of 79.5 billion yen (US$1.0 billion) from the previous year's operating loss.

In North America, increase of sales for Japanese auto manufacturers and GM, Ford and Chrysler led to an increase in sales to 159.6 billion yen (US$2.0 billion), a 57.8 percent increase from the previous year. As a result of the increase in production volume, the operating income totaled 5.2 billion yen (US$65.9 million), an increase of 7.8 billion yen (US$97.8 million) from the previous year's operating loss.

In Europe, a decrease in car production due to the economic slump led to a decrease in sales to 93.5 billion yen (US$1.2 billion), a 13.9 percent decrease from the previous year. Due to the currency exchange loss, operating income totaled 1.8 billion yen (US$22.8 million), a 42.8 percent decrease from the previous year.

In Asia and Oceania, the recovery of Japanese auto manufactures' car production resulted in sales increase to 175.3 billion yen (US$2.2 billion), a 19.1 percent increase from the previous year. The increase in production volume led to the operating income of 17.0 billion yen (US$214.4 million), a 27.7 percent increase from the previous year.

In other areas, which mainly refer to the South American region, including countries like as Brazil and Argentina, sales totaled 14.0 billion yen (US$176.3 million), an 11.4 percent decrease from the previous year. The operating income totaled 1.0 billion yen (US$12.3 million), a 35.8 percent decrease from the previous year.

"Considering the first-quarter financial results, we have decided to upwardly revise the original forecasts for the first-half and full-year financial results," said Ito. "As this being the first year for the DENSO Group's Global Mid-term Policy, we will progressively make efforts to expand business."
Forecast for First-Half Fiscal Year Ending September 30, 2012 Half-Year Forecast Half-Year Forecast Changes from (Original) (Revised) Previous H1 Net Sales 1,680.0 billion yen 1,740.0 billion yen +330.9 billion yen [US$21.2 billion] [US$21.9 billion] (+23.5 percent) Operating income 90.0 billion yen 135.0 billion yen +103.1 billion yen [US$1.1billion] [US$1.7 billion] (+323.7 percent) Income before 95.0 billion yen 142.5 billion yen +103.2 billion yen income taxes and [US$1.2 billion] [US$1.8 billion] (+262.4 percent) minority interests Net income 66.0 billion yen 88.0 billion yen +64.7 billion yen [US$832.2 million] [US$1.1 billion] (+277.9 percent) Forecast for Fiscal Year Ending March 31, 2013 FY Forecast FY Forecast Changes from (Original) (Revised) Previous FY Net Sales 3,420.0 billion yen 3,480.0 billion yen +325.4 billion yen [US$43.1 billion] [US$43.9 billion] (+10.3 percent) Operating income 205.0 billion yen 250.0 billion yen +89.3 billion yen [US$2.6 billion] [US$3.2 billion] (+55.5 percent) Income before 215.0 billion yen 262.5 billion yen +99.0 billion yen income taxes and [US$2.7 billion] [US$3.3 billion] (+60.6 percent) minority interests Net income 150.0 billion yen 172.0 billion yen +82.7 billion yen [US$1.9 billion] [US$2.2 billion] (+92.6 percent) Note: The above forecasts are created based on the information obtained by the date of this announcement and the actual results may differ due to various causes in the future. U.S. dollar amounts have been translated, for convenience only, at the rate of 79.31 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on June 30, 2012. Billion is used in the American sense of one thousand million.

About Denso

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions (including Japan) and employs more than 130,000 people. Consolidated global sales for the fiscal year ending March 31, 2013, totaled US$38.1 billion. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.

Contact:

Sadayoshi Yokoyama, Goro Kanemasu
DENSO CORPORATION
Phone: 81-566-25-5594
Fax: 81-566-25-4509
sadayoshi_yokoyama@denso.co.jp
goro_kanemasu@denso.co.jp
 


July 31, 2012
Source: Denso

Denso (TSE: 6902) (U.S: DNZOY)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Earnings
View more news from these Sectors: Automobile Parts and Manufacturing


 
CSR Report Download
Annual Reports

  More >>    
Most Popular


About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)