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DENSO announced its financial results for the first-half ending September 30, 2018 for fiscal year ending March 31, 2019:
Global Results
“DENSO’s revenue rose due to an increase in global vehicle production in spite of natural disasters. In addition, newly consolidated subsidiary, DENSO TEN, contributed to growth in revenue. Operating profit decreased due to transient profit in the last fiscal year, variance of periods in collecting expenses and increase in investment for future growth toward becoming a leading mobility supplier,” said Koji Arima, global president and CEO of DENSO Corporation.
North American Results
In North America, sales expansion led to the increase in revenue. Operating profit decreased due to the increase in expenses for R&D and investments for expanding production capabilities.
Key Terms
Click here to view DENSO’s financial forecast and financial results for other regions.
DENSO announced its global financial results for the first half of the fiscal year that ends March 31, 2018:
“DENSO’s revenue increased due to an increase in vehicle production, as well as sales expansion. DENSO’s operating profit also saw an increase due to the production volume increase and company cost reduction efforts,” said Koji Arima, president and CEO of DENSO Corporation.
In Japan, a rise in vehicle production resulted in an increase in revenue to 1,406.9 billion yen (US$12.5 billion), an 8.9 percent growth from the previous year. As a result of the increase in production volume and cost reduction efforts, the operating profit totaled 105.5 billion yen (US$935.8 million), a 100.7 percent increase from the previous year.
In North America, a sales expansion led to an increase in revenue to 548.1 billion yen (US$4.9 billion), a 6.1 percent increase from the previous year. On the other hand, the operating profit totaled 20.8 billion yen (US$184.5 million), which resulted in a 29.5 percent decrease from the previous year due, which is attributed to depreciation increases.
In Europe, the slight rise in vehicle production by the moderate recovery of the market led to an increase in revenue to 309.9 billion yen (US$2.7 billion), a 10.6 percent increase from the previous year. Due to depreciation increases, operating profit decreased to 8.9 billion yen (US$78.7 million), a 5.1 percent decrease from the previous year.
In Asia, an increase in both vehicle production and sales expansion resulted in an increase in revenue to 619.2 billion yen (US$5.5 billion), a 14.8 percent rise from the previous year. As a result of the increase in production volume, an operating profit totaled 62.8 billion yen (US$557.5 million), a 36.3 percent growth from the previous year.
In other areas, mainly the South American region, including Brazil and Argentina, revenue totaled 40.4 billion yen (US$358.7 million), a 32.7 percent increase from the previous year. The operating profit totaled 7.1 billion yen (US$62.8 million).
“After considering our first-half financial results, and the latest movement in the foreign exchange markets, we have revised up our full-year financial result forecasts. We also revised up dividend payment for both of interim and fiscal year-end,” said Koji Arima.
(Foreign exchange rates used for the full-year are US$= 111 yen, Euro= 126 yen)
Forecast for Fiscal Year Ending March 31, 2018
Full-Year Forecast
(Original) |
Full-Year Forecast
(Revised) |
|
Revenue | 4,740 billion yen
[US$42.0 billion] |
5,000 billion yen
[US$44.4 billion] |
Operating profit | 353 billion yen
[US$3.1 billion] |
390 billion yen
[US$3.5 billion] |
Profit before income taxes | 388 billion yen
[US$3.4 billion] |
430 billion yen
[US$3.8 billion] |
Profit attributable to owners of the parent company | 280 billion yen
[US$2.5 billion] |
300 billion yen
[US$2.7 billion] |
DENSO Corporation announced its global financial results for the first quarter ending June 30, 2017 for fiscal year ending March 31, 2018:
“DENSO’s revenue increased by the increase of car production and sales expansion as well as operating profit due to the production volume increase and cost reduction efforts.” said Yasushi Matsui, executive director of DENSO Corporation.
In Japan, the increase of car production led to an increase in revenue to 675.7 billion yen (US$6.0 billion), a 9.6 percent increase from the previous year. As a result of the increase in production volume and cost reduction efforts, the operating profit totaled 37.4 billion yen (US$333.5 million), a 163.8 percent increase from the previous year.
In North America, despite of an unpredictable economy, the increase of car production led to an increase in revenue to 281.0 billion yen (US$2.5 billion), a 5.6 percent increase from the previous year. As a result, the operating profit totaled 17.0 billion yen (US$151.5 million), a 2.3 percent increase from the previous year.
In Europe, the increase of car production by the moderate recovery of the market led to an increase in revenue to 159.6 billion yen (US$1.4 billion), a 3.3 percent increase from the previous year. On the other hand, due to depreciation increase, operating profit decreased to 5.8 billion yen (US$52.1 million), a 14.7 percent decrease from the previous year.
In Asia, increase of car production and sales expansion, a revenue increase to 299.6 billion yen (US$2.7 billion), a 7.7 percent increase from the previous year. As a result of the increase in production volume, an operating profit totaled 28.5 billion yen (US$254.5 million), a 16.5 percent increase from the previous year.
In other areas, mainly the South American region, including Brazil and Argentina, revenue totaled 19.1 billion yen (US$170.8 million), a 21.9 percent increase from the previous year. The operating profit totaled 3.3 billion yen (US$29.9 million).
“Considering the latest movement in the foreign exchange markets and increase of car production, we have revised up our financial result forecasts for the first-half and full-year,” said Matsui.
(Foreign exchange rates used for the first-half financial result forecast are US$= 111yen Euro=121 yen, and for the full-year are US$= 110 yen, Euro= 121 yen)
Forecast for Fiscal Year Ending March 31, 2018
First-Half Forecast (Revised) | Full-Year Forecast (Revised) | Changes from Previous FY | |
Revenue | 2,330.0 billion yen
[US$20.8 billion] |
4,740.0 billion yen
[US$42.3 billion] |
+212.9 billion yen
(+4.7 percent) |
Operating profit | 161.0 billion yen
[US$1.4 billion] |
353.0 billion yen
[US$3.2 billion] |
+22.4 billion yen
(+6.8 percent) |
Profit before income taxes | 179.0 billion yen
[US$1.6 billion] |
388.0 billion yen
[US$3.5 billion] |
+27.1 billion yen
(+7.5 percent) |
Profit attributable to owners of the parent company | 123.0 billion yen
[US$1.1 billion] |
280.0 billion yen
[US$2.5 billion] |
+22.4 billion yen
(+8.7 percent) |