KARIYA (Japan) ― DENSO, a leading mobility supplier, today announced global financial results for its fiscal year, ending March 31, 2023:
• Consolidated revenue totaled 6,401.3 billion yen (US$47.9 billion), a 16.1 percent increase from the previous year.
• Consolidated operating profit totaled 426.1 billion yen (US$3.2 billion), a 24.9 percent increase from the previous year.
• Consolidated profit attributable to owners of the parent company totaled 314.6 billion yen
(US$2.4 billion), a 19.2 percent increase from the previous year.
“Revenue and operating profit increased compared to the previous year, reaching their highest-ever levels, due to sales recovery and expansion, foreign exchange gains and profit improvements,” said Yasushi Matsui, CFO, senior executive officer and member of the Board of Directors of DENSO CORPORATION. “In the next fiscal year, we forecast 6,300.0 billion yen (US$47.2 billion) in revenue and 510.0 billion yen (US$3.8 billion) in operating income. Revenue will be based on strong sales expansions in focus areas. On the other hand, we also forecast the potential risk of a vehicle production cut of around 10 percent, given uncertainties in the external environment. Operating income will be based on the extent of growth, as well as disciplined control of fixed costs and further strengthening of our ability to respond to fluctuations. The annual dividend for the concluded fiscal year is 185 yen, a 5 yen increase from the previous announcement, and the forecast for the next fiscal year is 190 yen, a 5 yen increase from the previous year. We will continue to improve DOE levels over the long term and in a stable manner.”
In Japan, revenue increased to 3,705.8 billion yen (US$27.8 billion), up 5.4% from the previous year, and operating profit was 215.6 billion yen (US$1,614.4 million), a 14.1% rise from the previous year.
In North America, revenue increased to 1,504.1 billion yen (US$11.3 billion), up 29.6% from the previous year, and operating profit was 17.9 billion yen (US$134.2 million), a 320.5% rise from the previous year.
In Europe, revenue increased to 685.6 billion yen (US$5.1 billion), up 22.1% from the previous year, and operating profit was 17.5 billion yen (US$130.8 million) (operating loss from the previous year was -3.4 billion yen).
In Asia, revenue increased to 1,931.7 billion yen (US$14.5 billion), up 17.9% from the previous year and operating profit increased to 158.3 billion yen (US$1,185.4 million), a 10.0% increase from the previous year.
In other areas, revenue increased to 101.2 billion yen (US$0.8 billion), up 32.2% from the previous year, and operating profit increased to 19.3 billion yen (US$144.2 million), up 24.4% from the previous year.
Forecast for Fiscal Year Ending March 31, 2024
| Full-Year Forecast | Changes from Previous FY |
|
|---|---|---|
| Revenue | 6,300.0 billion yen [US$47.2 billion] |
-101.3 billion yen (-1.6 percent) |
| Operating profit | 510.0 billion yen [US$3.8 billion] |
+83.9 billion yen (+19.7 percent) |
| Profit before profit taxes | 555.0 billion yen [US$4.2 billion] |
+98.1 billion yen (+21.5 percent) |
| Profit attributable to owners of the parent company | 383.0 billion yen [US$2.9 billion] |
+68.4 billion yen (+21.7 percent) |
(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 133.53 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on March. 31, 2023. Billion is used in the American sense of one thousand million.
Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2024, as a precondition are US$= 125.0 yen, Euro= 135.0 yen, CNY=18.4 yen.
About DENSO CORPORATION
DENSO is a $47.9 billion global 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 its around 200 facilities to produce electrification, powertrain, thermal, mobility electronics, advanced devices to create jobs that directly change how the world moves. The company’s around 165,000 employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent around 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2023. For more information about global DENSO, visit https://www.denso.com/global
