Mexican Media Brands
Denso Sales Up, Income Down
Denso Corp. reports its consolidated net sales rose 4% to 2.1 trillion yen ($18.9 billion) in April-September.
#economics
Share
Denso Corp. reports its consolidated net sales rose 4% to 2.1 trillion yen ($18.9 billion) in April-September.
But operating income for the first half of the giant auto supplier's fiscal year fell 16% to 161 billion yen ($1.5 billion). Net income dropped 19% to 122 billion yen ($1.1 billion). The company blames the declines on higher investment and R&D costs.
Denso's first-half operating income in Japan plunged 26% to 1.3 trillion yen ($11.8 billion). Profits slipped slightly to 33 billion yen ($303 million) in Asia/Oceana on higher labor costs, research and production hikes.
But first-half operating income zoomed 45% to 13.5 billion yen ($123 million) in North America and doubled to 7.4 billion yen ($68 million) in Europe.
The company has revised its full-fiscal-year guidance. It raised its sales forecast 3% to 4.2 billion yen. But it cut its forecasts for operating and net income by 7% to 350 billion yen and 14% to 248 billion yen, respectively.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.