Global automotive supplier DENSO Corporation today announced its global financial results for the nine months of the fiscal year ending March 31, 2019:
- Consolidated revenue totaled 3,979.7 billion yen (US$35.8 billion), a 7.6 percent increase from the previous year.
- Consolidated operating profit totaled 243.5 billion yen (US$2.2 billion), a 22.6 percent decrease from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 192.0 billion yen (US$1.7 billion), a 23.6 percent decrease from the previous year.
“DENSO’s revenue rose in all regions due to an increase in global vehicle production in spite of market slowdown in Europe and China. In addition, newly consolidated subsidiary, DENSO TEN, contributed to growth in revenue. Operating profit decreased due to increase in investment for future growth toward becoming a leading mobility supplier, transient profit in the last fiscal year and variance of periods in collecting expenses, ” said Yasushi Matsui, executive director of DENSO Corporation.
In Japan, an increase in vehicles equipped with safety-related products, as well as the impact from the newly consolidated subsidiary resulted in an increase in revenue to 2,412.0 billion yen (US$21.7 billion), an 8.1 percent growth from the previous year. Despite a rise in production volume and cost-reduction efforts, an increase in investment for future growth and the impact of transient profit in the last fiscal year led to a drop in operating profit to 97.8 billion yen (US$880.2 million), a 39.3 percent down from the previous year.
In North America, production volume increase and sales expansion led to an increase in revenue to 904.0 billion yen (US$8.1 billion), a 7.6 percent increase from the previous year. Operating profit totaled 22.2 billion yen (US$199.7 million), a 28.8 percent decrease from the previous year due to the increase in expenses for R&D and the investments for expanding production capabilities.
In Europe, revenue totaled 488.6 billion yen (US$4.4 billion), a 2.5 percent increase from the previous year. As a result of the increase in cost-reduction efforts, operating profit totaled 14.3 billion yen (US$128.6 million), an 1.9 percent increase from the previous year.
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SOURCE: DENSO
