KARIYA, Japan — DENSO Corp. has announced its global financial results for its first quarter that ended on June 30, 2013.
Consolidated net sales totaled 997.6 billion yen ($10.1 billion USD), a 13.1 percent increase from the previous year. Consolidated operating income totaled 102.1 billion yen ($1 billion), a 30.7 percent increase from the previous year. Consolidated net income totaled 86 billion yen ($872.7 million), a 75.2 percent increase from the previous year.
"Despite a decrease in vehicle production in Japan, sales and operating income increased due to steady vehicle production in North America and the emerging markets," said Kenichiro Ito, executive director of DENSO Corp. "The weak yen also had an effect on the increase in sales and operating income."
In Japan, along with the decrease in vehicle production, the increase of export sales and the effect of the weak yen led to an increase in sales to 653.6 billion yen ($6.6 billion), a 5.3 percent increase from the previous year. Despite a decrease in production volume, currency exchange gain and cost reduction efforts led to an operating income of 75.3 billion yen ($763.5 million), a 36.6 percent increase from the previous year.
In North America, an increase in vehicle production and the effect of the weak yen led to an increase in sales to 207.3 billion yen ($2.1 billion), a 29.9 percent increase from the previous year. As a result of the increase in production volume, the operating income totaled 6.3 billion yen ($63.4 million), a 19.6 percent increase from the previous year.
In Europe, the gradual recovery from the economic slump and the effect of the weak yen led to an increase in sales to 117.9 billion yen ($1.2 billion), a 26.1 percent increase from the previous year. Despite increase in production volume, due to the increase in labor cost and other expenses, operating income totaled 1.7 billion yen ($17.5 million), a 4.7 percent decrease from the previous year.
In Asia and Oceania, the increase of vehicle production and the effect of the weak yen resulted in a sales increase to 231.5 billion yen ($2.3 billion), a 32.1 percent increase from the previous year. The increase in production volume led to an operating income of 21.4 billion yen ($216.6 million), a 25.6 percent increase from the previous year.
In other areas, mainly the South American region, sales totaled 21.2 billion yen ($214.6 million), a 51.3 percent increase from the previous year. The operating income totaled 1 billion yen ($9.7 million), a 1.8 percent decrease from the previous year.
