KARIYA, Japan - DENSO Corp. has announced global financial results for the first quarter ended June 30. Consolidated net sales totaled $9.2 billion, a slight decrease from the previous year.

Consolidated operating income totaled $696.8 million, a 20.6 percent decrease from the previous year. Consolidated net income totaled $485.4 million, a 23.3 percent decrease from the previous year.

“Sales decreased mainly due to the decrease in car production in North America and substantial currency exchange loss, despite increases in the export of vehicles to emerging countries and car production for Japanese auto manufacturers in ASEAN countries and China,” said Sadahiro Usui, managing officer of DENSO Corp. “A decrease in sales and substantial currency exchange loss led to a decrease in operating income.”

“Considering the severe business environment, including the trend of decreases in car production in North America and rising raw materials costs in the second quarter, we have revised the half-year forecast for the fiscal year ending March 31, 2009,” said Usui. “We have also reflected the changes in the half-year forecasts to our full-year forecasts.”