KARIYA (Japan) ―DENSO, a leading mobility provider, today announced its global financial results for its first quarter, ending June 30, 2022, for fiscal year 2023, ending March 31 of 2023:
Consolidated revenue totaled ¥1.415 billion (US$10.4 billion), up 4.3% from the previous year.
Consolidated operating profit was ¥63.6 billion (US$0.5 billion), a decrease of 40.6% from the previous year.
Consolidated profit attributable to owners of the parent company amounted to 51.9 billion yen (US$0.4 billion), a decrease of 41.9% from the previous year.
“First quarter revenue increased compared to the prior year due to sales expansion and foreign exchange gains, although sales were negatively impacted by semiconductor shortages and the lock in China. Operating profit decreased compared to the previous year due to difficult business conditions, such as the decline in vehicle production,” said Yasushi Matsui, CFO, Senior Executive Director and Member of the Board of Administration of DENSO Corporation. “We have revised our full-year forecast based on continued vehicle production losses and gains from changes in prior currency conditions, adjusting our revenue projection to 6.22 billion yen (US$45.5 billion) and operating profit projection at ¥480 billion (US$3.5 billion).billion).Furthermore, to achieve shareholder returns and improve capital efficiency , DENSO decided to repurchase treasury shares of up to ¥100 billion (US$0.7 billion) or 16.0 million shares, whichever is less.”
In Japan, revenue rose to 825.3 billion yen ($6 billion), down 5.5% from a year earlier, and operating profit was 31.8 billion yen ($232.4 million ), a decrease of 45.4% compared to the previous year.
In North America, revenue increased to ¥337.2 billion (US$2.5 billion), up 13.0% from the previous year, and operating loss was ¥6.6 billion (US$48.6 million US dollars) (Operating profit of 7.3 billion yen in the same quarter of the previous one). course).
In Europe, revenue rose to 166.1 billion yen ($1.2 billion), up 8.6% from a year earlier, and operating profit was 3.6 billion yen ($26.1 million), 8.5% more than the previous year. The European region is recovering revenue from significant vehicle production losses in the previous year.
In Asia, revenue increased to ¥441.9 billion (US$3.2 billion), up 21.2% from the previous year due to strong sales and production volume in countries other than China. Operating profit rose to 28.7 billion yen (US$210.1 million), a decrease of 14.9% from a year earlier.
In other areas, revenue rose to 25.7 billion yen ($0.2 billion), up 51.6% from a year earlier, and operating profit increased to 6.9 billion yen ($43.6 million ), 85.6% more than the previous year.