DENSO Announces First Quarter Financial Results - aftermarketNews

DENSO Announces First Quarter Financial Results

The company reported consolidated net sales of $11.1 billion, a 40 percent increase from the previous year.

DENSO Announces First Quarter Financial Results

Consolidated net sales totaled 584.9 billion yen ($6.1 billion), a 40.6 percent decrease from the previous year.

DENSO Announces First Quarter Financial Results

DENSO Announces First Quarter Financial Results

DENSO Corp., parent company of Long Beach-based DENSO Sales California, has announced global financial results for the first quarter, which ended June 30. Consolidated net sales totaled $7.4 billion, a 13.6 percent increase from the first quarter of last term. Operating income totaled $717.4 million, a 16 percent increase from the first quarter of last term.

DENSO Announces First-quarter Financial Results

Some of the highlights include a consolidated net sales totaling $6.8 billion, a 10.7 percent increase from the first quarter of last term; operating income totaling $641.4 million, an 18.7 percent increase from the first quarter of last term; and a 3.3 percent increase in income before income taxes and minority interests from the first quarter of last term.

KARIYA, Japan ― DENSO Corp. has announced global financial results for the first quarter ending June 30.
 
The company reported consolidated net sales of $11.1 billion, a 40 percent increase from the previous year.
 
Consolidated operating income totaled $985.6 million, an increase of $1 billion from the previous year’s operating loss of $55.2 million.
 
Consolidated net income totaled $619.1 million, a 1,801.7 percent increase from the previous year.
 
"Compared to last year, DENSO’s consolidated sales and income increased sharply, as our 2011 first quarter results were impacted by the Great East Japan Earthquake,” said Kenichiro Ito, executive director of DENSO Corp.
 
In Japan, the increase in car production due to the recovery from the earthquake and government subsidies for eco-friendly car purchases led to an increase in sales to $7.8 billion, a 55.7 percent increase from the previous year. The increase in production volume led to an operating income of $694.7 million, an increase of $1 billion from the previous year’s operating loss.
 
In North America, increase of sales for Japanese auto manufacturers and GM, Ford and Chrysler led to an increase in sales to $2 billion, a 57.8 percent increase from the previous year. As a result of the increase in production volume, the operating income totaled $65.9 million, an increase of $97.8 million from the previous year’s operating loss.
 
In Europe, a decrease in car production due to the economic slump led to a decrease in sales to $1.2 billion, a 13.9 percent decrease from the previous year. Due to the currency exchange loss, operating income totaled $22.8 million, a 42.8 percent decrease from the previous year.

“Considering the first quarter financial results, we have decided to upwardly revise the original forecasts for the first-half and full-year financial results,” said Ito. “As this being the first year for the DENSO Group’s Global Mid-term Policy, we will progressively make efforts to expand business.“

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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.

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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.”

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TOKYO — DENSO Corp., parent company of Long Beach-based DENSO Sales California, has announced global financial results for the first quarter, which ended June 30.

Consolidated net sales totaled $7.4 billion, a 13.6 percent increase from the first quarter of last term. Operating income totaled $717.4 million, a 16 percent increase from the first quarter of last term.

Income before income taxes and minority interests for the period totaled $781.7 million, a 36.6 percent increase from the first quarter of last term. Consolidated net income totaled $508.7 million, a 62.5 percent increase from the first quarter of last term.

In Japan, strong domestic car production contributed to the increased sales, which totaled $5.2 billion, an 11.6 percent increase from the first quarter of last term. Operating income totaled $509.6 million, a 9.3 percent increase from the first quarter of last term, due to the increase in production volume and cost reduction efforts.

In North, Central and South America, combined sales for those regions totaled $1.7 billion, an 18.9 percent increase from the first quarter of last term and operating income totaled $74.8 million, a 5.7 percent increase from the first quarter of last term. The sales increase was led by increased sales to auto manufacturers such as Toyota and GM.

In Europe, increased sales of car air conditioners and diesel common rail injection systems led to a rise in sales to $1.1 billion, a 19.4 percent increase from the previous period. A rise in production volume in Hungary and the Czech Republic led to an increase in operating income totaling $27.8 million.

In Asia and Oceania, sales totaled $941.7 million, a 19.7 percent increase from the first quarter of last term, and operating income totaled $94.8 million, a 26.1 percent increase from the same period last term. Strong production for Japanese auto manufacturers in Thailand and China led to the increase in both sales and operating income.

For more information about DENSO, go to: www.globaldenso.com .

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TOKYO, JAPAN — DENSO Corporation announced its global financial results for the first quarter ended June 30, 2005.

Some of the highlights include a consolidated net sales totaling $6.8 billion, a 10.7 percent increase from the first quarter of last term; operating income totaling $641.4 million, an 18.7 percent increase from the first quarter of last term; and a 3.3 percent increase in income before income taxes and minority interests from the first quarter of last term.

The company posted a consolidated net income totaled $324.3 million, a 2.5 percent decrease from the first quarter of last term. The decrease is mainly due to the extraordinary loss resulting from the charge for full amount of transitional obligation for employees’ retirement benefits at DENSO subsidiaries in the United Kingdom

“We are pleased with the financial results for this first quarter,” said Koji Kobayashi, managing officer of DENSO Corporation. “The increase in domestic and overseas car production for Japanese auto manufacturers contributed to the increase in sales, and the increase in production volume in Japan and Asia and Oceania contributed to the increase in operating income.”

In Japan, sales totaled $4.8 billion, a 9.0 percent increase from the first quarter of last term, and operating income totaled $482.9 million, a 10.4 percent increase from the first quarter of last term. Growing domestic car production and continuing growth in the popularity of car navigation systems contributed to the increase in sales. The increase in operating income was led by the increase in production volume.

In North, Central and South America, combined sales totaled $1.5 billion, an 8.0 percent increase from the first quarter of last term. The growth in car production for Japanese auto manufacturers in North America contributed to this increase. In spite of the rise in production volume, operating income decreased to $73.0 million, a decline of 9.9 percent, due to production transfer to DENSO’s new plant in Arkansas and new additions to the product line-up.

In Europe, sales totaled $943.2 million, an 8.0 percent increase from the previous period, due to sales growth in car navigation systems, car air conditioners, and diesel common rail systems. An increase in production volume in the Czech Republic led to the increase in operating income in this region.

In Asia and Oceania, sales totaled $815.3 million, a 47.5 percent increase from the first quarter of last term, and operating income totaled $78.4 million, a 111.9 percent increase from the first quarter of last term. Production of the Toyota Innovative International Multi-purpose Vehicle, or “IMV”, especially in ASEAN countries, resulted in an increase in both sales and operating income.

“As a result of our good financial results in this first quarter, we have revised and raised our first-half fiscal year estimates announced on April 27,” said Kobayashi.

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