Leading mobility provider DENSO has released its financial results for the second quarter that ended on September 30, 2022, and the fiscal year that ended on March 31, 2023:
In Japan, revenue climbed by 2.9% from the prior year to 1,738.9 billion yen ($12.0 billion), and operating profit increased by 2.4% to 91.0 billion yen ($628.6 million).
“Due to a recovery in sales, an expansion in sales, and favourable currency exchange rates, revenue increased in the first half of our fiscal year compared to the same period last year. Due to difficult business conditions, operating profit somewhat declined from the prior year “said Yasushi Matsui, DENSO Corporation’s CFO, senior executive officer, and board member. We adjusted our revenue projection for the entire year to 6,310.0 billion yen (US$43.6 billion), and we secured our operating profit forecast from the prior announcement for the entire year to 480.0 billion yen (US$3.3 billion), based on foreign exchange gains and profit improvements, though deterioration of our region mix has occurred.
Revenue in North America climbed by 26.6% to 715.0 billion yen ($4.9 billion), and operating loss was 13.0 billion yen ($89.6 million) (Operating profit of 2.9 billion yen in the same quarter of the previous year).
In Asia, revenue jumped by 34.3% from the prior year to 960.9 billion yen (US$6.6 billion), and operating profit rose by 17.4% to 67.4 billion yen (US$465.1 million).
In Europe, sales rose to 321.9 billion yen ($2.2 billion), up 19.4% from the prior year, while operating profit was 3.6 billion yen ($24.9 million), down 7.0% from the year before.
Other results included an increase in operating profit to 11.4 billion yen (US$78.7 million), up 42.9% from the prior year, and an increase in sales to 53.6 billion yen (US$0.4 billion), up 48.6% from the prior year.
News Summary:
- DENSO Reports Financial Results for the Second Quarter
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