DENSO Corporation today announced global financial results for the third quarter ended December 31, 2007:
- Consolidated net sales = 1.03 billion yen, +11% from the previous year.
- Consolidated operating income = 104 billion yen, +17% from the previous year.
- Consolidated net income = 74 billion yen, +20% from the previous year.
The sales growth was mainly due to the increase in domestic and overseas car production for Japanese auto manufacturers
– In Japan, sales = 713 billion yen, 7.1% increase from the previous year.
– In Japan, sales = 713 billion yen, 7.1% increase from the previous year.
Increased export of vehicles contributed to the increase in sales. Despite production volume increases and cost reduction efforts, the increase in depreciation costs associated with a tax law change in Japan led to operating income of 64.9 billion yen, 7.6% decrease from the previous year
– In America, increased production volume for Japanese auto manufacturers and sales expansion to General Motors and Ford led to an increase in sales to 198 billion yen, + 6.8% from the previous year. Operating income increased to 9.2 billion yen,+ 64% from the previous year.
– In Europe, sales expansion to Ford, Fiat and PSA raised sales to 156.5 billion yen 18.2% increase from the previous year. Operating income increased to 5.8 billion yen increase of 76.2% from the previous year, as a result of increased production volume of air conditioners and diesel common rail systems.
– In Asia and Oceania, sales totaled 157.6 billion yen, 27.6% increase from the previous year, thanks to the increased car production for Japanese auto manufacturers in ASEAN and China. Operating income more than doubled from 11.8 billion yen the previous year to 24.5 billion yen
“Considering the recent rapid appreciation of the yen and the possibility of an economic slowdown, we have kept our fiscal year 2007 estimate announced on October 31, 2007,” said Kobayashi, in charge of DENSO company communications.
Forecast for Fiscal Year Ended March 31, 2008
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 112,000 people in 32 countries and regions, including Japan. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan.
