DENSO Sees 26.6% Profit Growth in Asia

KARIYA, JAPAN, Feb 2, 2022 — DENSO saw a revenue increase of 1,180.6 billion yen (USD10.3 billion), up 26.6% from the previous year in Asia.

Its operating profit in the region also increased to 105.0 billion yen (USD913.6 million), up 46.3% from the previous year.

The leading mobility supplier announced its global financial results for its third quarter, ending December 31, 2021, for its 2022 fiscal year, ending March 31, 2022.

– Consolidated revenue totaled 4,009.0 billion yen (USD34.9 billion), a 14.3 percent increase from the previous year.
– Consolidated operating profit totaled 256.3 billion yen (USD2,229.4 million), a 284.6 percent increase from the previous year.
– Consolidated profit attributable to owners of the parent company totaled 193.4 billion yen (USD1,682.2 million), a 348.9 percent increase from the previous year.

“Both revenue and operating profit in the third quarter decreased from the same period last year due to semiconductor shortages and other business conditions, although DENSO made profit improvements.

“However, revenue and operating profit through three quarters of this fiscal year increased compared to the previous year due to recovery of vehicle sales from COVID-19 and profit improvements,” says Yasushi Matsui, senior executive officer and member of the Board of Directors of DENSO Corporation.

“We have revised our full-year forecast based on third quarter results, adjusting our revenue projection to 5,480.0 billion yen (USD47.7 billion) and operating profit projection to 400.0 billion yen (USD3,479.8 million)”.

“While it is difficult to project how the business environment might change due to factors like semiconductor shortages, we keep our fourth quarter forecast unchanged and aim to achieve these projections with strong fourth quarter performance.”

Country and region

In Japan, revenue increased to 2,590.1 billion yen (USD22.5 billion), up 15.1% from the previous year, and operating profit was 144.1 billion yen (USD1,253.8 million), with an operating loss of 12.0 billion yen in the previous year.

In North America, revenue increased to 842.6 billion yen (USD7.3 billion), up 15.4% from the previous year, and operating loss was 1.9 billion yen (USD16.6 million).

In Europe, revenue increased to 407.4 billion yen (USD3.5 billion), up 13.3% from the previous year, and operating profit was 3.3 billion yen (USD29.1 million), up 22.7% from the previous year.

In other areas, revenue increased to 53.8 billion yen (USD468.4 million), up 101.9% from the previous year, and operating profit increased to 11.7 billion yen (USD101.4 million), up 145.2% from the previous year.