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Denso’s Profit Advances 2%
Denso Corp. reports its sales grew 5% to 4.3 trillion yen ($36 billion) in the fiscal year ended March 31.
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Denso Corp. reports its sales grew 5% to 4.3 trillion yen ($36 billion) in the fiscal year ended March 31. Net profit gained 2% to 293 billion yen ($2.5 billion).
But the company says R&D expenses, greater investment costs and higher production rates caused the company's operating income to fall 6% to 355 billion yen ($3 billion).
Denso's annual sales in Japan slipped 2% to 2.7 trillion yen ($22.4 billion). But revenue improved in Asia Pacific (+11% to 1 trillion yen, or $8.7 billion), North America (+18% to 967 billion yen or $8.2 billion) and Europe (+11% to 555 billion yen, or $4.7 billion).
The company predicts revenue in the current fiscal year will rise nearly 5% to 4.5 trillion yen and operating income will grow 7% to 380 billion yen.
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