DENSO Announces Third Quarter Financial Results

KARIYA, Japan, Jan. 31, 2025 /PRNewswire/ -- DENSO, a leading mobility supplier, today announced global financial results for the third quarter, ending December 31, 2024, of its fiscal year, ending March 31, 2025:

• Consolidated revenue totaled 5288,4 billion yen (US$33.5 billion), a 1.2 percent decrease from the previous year.
• Consolidated operating profit totaled 401.6 billion yen (US$2.5 billion), a 68.3 percent increase from the previous year.
• Consolidated profit attributable to owners of the parent company totaled 312.7 billion yen (US$2.0 billion), a 78.1 percent increase from the previous year.

"Revenue in the third quarter decreased compared to the previous year, due in part to lower vehicle production volumes in Asia and suspensions of operations by Japanese customers, though slowing yen depreciation supported our overall performance. Operating profit in the third quarter increased compared to the previous year through foreign exchange gains and cost management efforts, despite lower production volumes and increasing parts and material costs," said Yasushi Matsui, CFO, Executive Vice President and member of the Board of Directors of DENSO CORPORATION. "In this fiscal year, we forecast 7,090.0 billion yen (US$44.9 billion) in revenue and 550.0 billion yen (US$3.5 billion) in operating profit. Our revenue forecast will be based on actuals of foreign exchange gains and revised upwards. Our operating profit forecast will remain the same, as we continue to manage increasing parts and material costs, quality costs and structural reform costs, and offset these factors through foreign exchange gains and business improvement activities."

In Japan, revenue decreased to 3,121.8 billion yen (US$19.8 billion), down 0.8% from the previous year, and operating profit increased to 177.7 billion yen (US$1,125.6 million), up 694.6% from the previous year.

In North America, revenue increased to 1,366.4 billion yen (US$8.7 billion), up 6.3% from the previous year, and operating profit increased to 72.5 billion yen (US$459.6 million), up 163.6% from the previous year.

In Europe, revenue decreased to 536.7 billion yen (US$3.4 billion), down 5.9% from the previous year, and operating profit decreased to 4.9 billion yen (US$31.0 million), down 78.1% from the previous year.

In Asia, revenue decreased to 1,462.8 billion yen (US$9.3 billion), down 3.8% from the previous year and operating profit decreased to 125.9 billion yen (US$797.4 million), down 15.8% from the previous year.

In other areas, revenue increased to 89.8 billion yen (US$0.6 billion), up 9.6% from the previous year, and operating profit increased to 18.6 billion yen (US$117.9 million), up 23.4% from the previous year.

Forecast for Fiscal Year Ending March 31, 2025

(Notes)
The above forecasts are created based on information obtained by the date of this announcement and the actual results may differ due to various causes in the future. U.S. dollar amounts have been translated, for convenience only, at the rate of 157.83 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on December 30, 2024. Like in the U.S. billion is used in the sense of one thousand million. Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2025, as a precondition are US$= 150.7 yen, Euro=162.4 yen, CNY=20.9 yen, and from the fourth quarter onward, foreign exchange rate assumptions are US$= 145.0 yen, Euro= 155.0 yen, CNY=20.0 yen.

About DENSO CORPORATION
Globally headquartered in Kariya, Japan, DENSO is a $47.2 billion leading mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in around 180 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company's 162,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 7.7 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2024. For more information about DENSO's operations worldwide, visit https://www.denso.com/global

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SOURCE DENSO