KARIYA (Japan) ―DENSO, a leading mobility provider, today announced its worldwide financial results for its second quarter, ending September 30, 2022, for its fiscal year 2023, ending March 31, 2023:
Consolidated revenue totaled 3,020.1 billion yen ($20.9 billion), an increase of 16.9% over the previous year.
Consolidated operating profit totaled 155.4 billion yen ($1.1 billion), down 2.5% from a year earlier.
Consolidated profit attributable to owners of the parent company totaled 105.8 billion yen ($0.7 billion), down 6.1% from a year earlier.
“Revenues for the first half of our fiscal year increased over the prior year due to the sales recovery, sales expansion and foreign exchange gains. Operating profit decreased slightly from the prior year due to difficult business conditions,” said Yasushi Matsui, CFO, senior executive and board member of DENSO Corporation. “We have revised our full-year revenue guidance based on changes in currency preconditions, adjusting our revenue guidance to 6,310.0 billion yen ($43.6 billion) , and we have secured our operating profit guidance from the previous announcement for the full year at 480.0 billion yen ($3.3 billion), based on earnings from currency and earnings improvement, even though the deterioration of our regional mix has occurred”.
In Japan, revenue reached 1,738.9 billion yen (US$12.0 billion), up 2.9% year-on-year, and operating profit amounted to 91.0 billion yen (628.6 million US dollars), an increase of 2.4% over the previous year.
In North America, revenue reached 715.0 billion yen (US$4.9 billion), up 26.6% year-on-year, and operating loss s amounted to 13.0 billion yen (89.6 million US dollars) (operating profit of 2.9 billion yen in the same quarter last year). year).
In Europe, revenue reached 321.9 billion yen ($2.2 billion), up 19.4% year-on-year, and operating profit rose to 3.6 billion yen ($24.9 million), down 7.0% from a year earlier.
In Asia, revenue increased to 960.9 billion yen ($6.6 billion), up 34.3% year-on-year and operating profit increased to 67.4 billion yen ($465.1 million), an increase of 17.4% over the previous year.
In other areas, revenue increased to 53.6 billion yen ($0.4 billion), up 48.6% from a year earlier, and operating profit reached 11 .4 billion yen ($78.7 million), up 42.9% from a year earlier.
Forecast for the fiscal year ending March 31, 2023
|Forecast for the whole year||Changes from the previous year|
|Revenue|| 6,310.0 billion yen
| +794.5 billion yen
|Operating result|| 480.0 billion yen
| +138.8 billion yen
|Earnings before income taxes|| 523.0 billion yen
| +138.2 billion yen
|Profit attributable to owners of the parent company|| 378.0 billion yen
| +114.1 billion yen
The above forecasts are created based on information obtained as of the date of this announcement and actual results may differ due to various causes in the future. US dollar amounts have been converted, for convenience only, at the rate of 144.81 yen = 1 US dollar, the approximate exchange rate prevailing in the Tokyo foreign exchange market in September. 30, 2022. Billion is used in the American sense of one thousand million.
The forecast exchange rates for the financial year ending March 31, 2023, as a condition precedent, are US$ = 134.5 yen, Euro = 136.9 yen, CNY = 19.9 yen.
About DENSO Corporation
DENSO is a $45.1 billion global mobility provider that develops advanced technologies and components for nearly every make and model of vehicle on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification and electronics systems to create jobs that directly change the way the world moves. The company’s more than 168,000 employees are leading the way to a future of mobility that improves lives, eliminates traffic accidents and preserves the environment. Headquartered in Kariya, Japan, DENSO devoted 9.0% of its global consolidated sales to research and development during the fiscal year ended March 31, 2022. For more information about DENSO worldwide, please visit https://www.denso.com/global