DENSO announced global financial results for its first quarter, ending March 31, 2024:. According to the company, consolidated revenue totaled 1,712.9 billion yen (US $11.8 billion), a 21 percent increase from the previous year.
Consolidated operating profit totaled 94.4 billion yen (US $0.7 billion), a 48.3 percent increase from the previous year.
Consolidated profit attributable to owners of the parent company totaled 85.5 billion yen (US $0.6 billion), a 64.7 percent increase from the previous year.

“Revenue in the first quarter increased compared to the previous year due to the easing of the semiconductor shortage, vehicle production increase, foreign exchange gains and expansion of products for electrification, safety and peace of mind areas. Operating profit in the first quarter increased compared to the previous year due to production volume, foreign exchange gains and improvement, though the continuing rise in the cost of materials, especially electronic components,” said Yasushi Matsui, CFO, vice president and member of the board of directors of DENSO Corp.

“In this fiscal year, we forecast 6,700 billion yen (US $46.2 billion) in revenue and 600 billion yen (US $4.1 billion) in operating profit. Revenue and operating profit will be based on strong sales actuals in the first quarter and forecast of foreign exchange gains and sales expansions in the second quarter.”

In Japan, revenue increased to 981.1 billion yen (US $6.8 billion), up 18.9% from the previous year, and operating profit was 24.8 billion yen (US $171.3 million), down 21.8% from the previous year.

In North America, revenue increased to 424.9 billion yen (US $2.9 billion), up 26% from the previous year, and operating profit was 6.3 billion yen (US $43.4 million.

In Europe, revenue increased to 198.4 billion yen (US $1.4 billion), up 19.4% from the previous year, and operating profit was 7.5 billion yen (US $51.4 million) up 109.3% from the previous year.

In Asia, revenue increased to 464.3 billion yen (US $3.2 billion), up 5.1% from the previous year and operating profit was 40.5 billion yen (US $279.4 million), up 41.1% from the previous year.

In other areas, revenue increased to 28.5 billion yen (US $0.2 billion), up 10.5% from the previous year, and operating profit was 5 billion yen (US $34.3 million), down 16.5% from the previous year.