KARIYA (Japan) ―DENSO, a leading mobility supplier, today announced global financial results for the second quarter, ending September 30, 2024, of its fiscal year, ending March 31, 2025:
Consolidated revenue totaled 3,474.9 billion yen (US$24.3 billion), a 1.1 percent decrease from the previous year.
Consolidated operating profit totaled 251.2 billion yen (US$1.8billion), an 18.6 percent increase from the previous year.
Consolidated profit attributable to owners of the parent company totaled 190.8 billion yen (US$1.3billion), an 13.0 percent increase from the previous year.
“Revenue in the second quarter decreased compared to the previous year, due in part to suspensions of operations by Japanese customers and lower vehicle production volumes related to fewer vehicle sales in Asia, though slowing yen depreciation did contribute to overall performance. Operating profit in the second quarter increased compared to the previous year through foreign exchange gains and cost management efforts, despite lower production volumes.” said Yasushi Matsui, CFO, Executive Vice President and member of the Board of Directors of DENSO CORPORATION. “In this fiscal year, we forecast 7,020.0 billion yen (US$49.2 billion) in revenue and 550.0 billion yen (US$3.9 billion) in operating profit. Our revenue and operating profit projections will be based on actuals of lower production volumes in the second quarter and forecast in the second half of the year. The annual dividends for the end of the fiscal year will be 64 yen, a 9 yen increase from the previous year. We will continue to improve DOE levels over the long term and in a stable manner. Furthermore, we decided to repurchase of treasury stock up to 450.0 billion yen (US$3.2 billion) or 281 million shares, whichever is lesser, in the board of directors meeting to achieve shareholder returns and improve capital efficiency.”
In Japan, revenue decreased to 2030.5illion yen (US$14.2 billion), down 1.5% from the previous year, and operating profit increased to 116.6 billion yen (US$816.6 million), up 36.8% from the previous year.
In North America, revenue increased to 924.3 billion yen (US$6.5 billion), up 7.9% from the previous year, and operating profit increased to 36.5 billion yen (US$255.4 million) up 157.1% from the previous year.
In Europe, revenue decreased to 365.7 billion yen (US$2.6 billion), down 1.9% from the previous year, and operating profit decreased to 5.9 billion yen (US$41.1 million), down 57.7% from the previous year.
In Asia, revenue decreased to 937.9 billion yen (US$6.6 billion), down 3.7% from the previous year and operating profit decreased to 76.7 billion yen (US$537.1 million), down 13.1% from the previous year.
In other areas, revenue decreased to 58.6 billion yen (US$0.4 billion), down 2.8% from the previous year, and operating profit increased to 12.2 billion yen (US$85.5 million), up 6.1% from the previous year.
Forecast for Fiscal Year Ending March 31, 2025
| Full-Year Forecast | Changes fromPrevious Forecast | Changes from Previous FY | |
|---|---|---|---|
| Revenue | 7,020.0 billion yen[US$49.2 billion] | -310.0 billion yen(-4.2 percent) | -124.7 billion yen(-1.7 percent) |
| Operating profit | 550.0 billion yen[US$3.9 billion] | -142.0 billion yen(-20.5 percent) | +169.4 billion yen(+44.5 percent) |
| Profit before profit taxes | 609.0 billion yen[US$4.3 billion] | -136.0 billion yen(-18.3 percent) | +172.8 billion yen(+39.6 percent) |
| Profit attributable to owners of the parent company | 437.0 billion yen[US$3.1 billion] | -88.0 billion yen(-16.8 percent) | +124.2 billion yen(+39.7 percent) |
| ROE | 8.3% | -1.0% | +2.0% |
(Notes)The above forecasts are created based on information obtained by the date of this announcement and the actual results may differ due to various causes in the future. U.S. dollar amounts have been translated, for convenience only, at the rate of 142.73 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on September 30, 2024. Billion is used in the American sense of one thousand million. Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2025, as a precondition are US$= 148.8 yen, Euro= 160.5 yen, CNY=20.6 yen and from the second half onward, foreign exchange rate assumptions are US$= 145.0 yen, Euro= 155.0 yen, CNY=20.0 yen.
About DENSO CORPORATIONGlobally headquartered in Kariya, Japan, DENSO is a $47.2 billion leading mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in around 180 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company’s 162,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 7.7 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2024. For more information about DENSO’s operations worldwide, visit https://www.denso.com/global.