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Denso’s Fiscal-Year Profit Slides
Denso Corp. says its consolidated operating profit fell 5% to 315.7 billion yen ($2.8 billion) in the fiscal year ended March 31.
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Denso Corp. says its consolidated operating profit fell 5% to 315.7 billion yen ($2.8 billion) in the fiscal year ended March 31.
Revenue rose 5% to 4.5 trillion yen ($40.2 billion). But new-product launches and increased r&d spending hurt operating results. Consolidated profit dropped 6% to 244.3 billion yen ($2.2 billion).
The company’s regional revenue for the 12-month period slipped 1% in Japan and 19% in south America. But it grew 7% in Europe, 11% in Asia and 15% in North America.
Denso predicts the fiscal year that began this year will see revenue flat at 4.5 trillion yen. But the company predicts slight declines in operating profit (-1%), pretax profits (-2%) and net profit (-4%).
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