KARIYA, Japan ― DENSO Corp. has announced global financial results for the first quarter ending June 30.

Consolidated net sales totaled 584.9 billion yen ($6.1 billion), a 40.6 percent decrease from the previous year. Consolidated operating loss totaled 15.2 billion yen ($158.3 million), a decrease of 89.4 billion yen ($930.7 million) from the previous year’s operating income of 74.2 billion yen ($772.4 million).

Consolidated net loss totaled 2.7 billion yen ($27.9 million), a decrease of 54.3 billion yen ($566 million) from the previous year’s consolidated net income of 51.7 billion yen ($538.1 million).

“The sales decrease and operating loss were due to the sharp decline in worldwide car production from the second half of last fiscal year, and currency exchange losses,” said Sadahiro Usui, managing officer of DENSO Corp.
 
“Considering our progress in cost reduction, along with the recovering trend of production for auto manufacturers, we have revised the half-year forecast for the fiscal year ending March 31, 2010,” said Usui. “We will continue to work on creating a lean business structure to improve earnings.”

No changes were made to the full-year forecast.