DENSO Announces Third Quarter Financial Results - aftermarketNews

DENSO Announces Third Quarter Financial Results

Consolidated net sales totaled $29.7 billion, a 16 percent increase from the previous year.

KARIYA, Japan – DENSO Corp. today announced its third quarter global financial results for the nine months ending Dec. 31, 2012.
 
Consolidated net sales totaled $29.7 billion, a 16 percent increase from the previous year. Consolidated operating income totaled $2.2 billion, a 128.9 percent increase from the previous year. Consolidated net income totaled $1.5 billion, a 259.7 percent increase from the previous year.
 
"The recovery of car production in Japan and the strong car production in North America and Asia and Oceania led to an increase in both sales and income," 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 $21 billion, a 16.9 percent increase from the previous year, according to DENSO. Despite increase of expenses, the increase in production volume led to an operating income of $1.4 billion, a 247.3 percent increase from the previous year.
 
In North America, an increase of sales for Japanese automakers and GM, Ford and Chrysler led to an increase in sales to $5.2 billion, a 28.5 percent increase from the previous year. As a result of the increase in production volume, the operating income totaled $106.7 million, a 581.1 percent increase from the previous year.
 
In Europe, a decrease in car production due to the economic downturn led to a decrease in sales to $3 billion, a 9.4 percent decrease from the previous year, and a decrease in operating income to $9.5 million, a 83.3 percent decrease from the previous year.
 
In Asia and Oceania, the recovery of Japanese auto manufacturers’ car production resulted in a sales increase to $6.2 billion, a 21.7 percent increase from the previous year. The increase in production volume led to an operating income of $613.3 million, a 41.5 percent increase from the previous year.
 
In other areas, mainly the South American region, including countries such as Brazil and Argentina, sales totaled $528.7 million, a 4.5 percent increase from the previous year, and the operating income totaled $29.6 million, a 6.8 percent increase from the previous year.
 
"Considering the progress of the depreciation of yen, we have revised the assumed exchange rate and have made an upward revision to the year-end sales forecasts," said Ito.
 
For the full fiscal year ending March 31, 2013, DENSO has forecast net sales of $39.8 billion.

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