DENSO announces its results for the 2022 fiscal year

DENSO, a leading mobility supplier, has announced its global financial results for the fiscal year, ending March 31, with consolidated revenue of 6,401.3 billion yen (US$47.9 billion), consolidated operating profit of 426.1 billion yen (US$3.2 billion) and consolidated profit attributable to owners of the parent company of 314.6 billion yen (US$2.4 billion), increases of 16.1, 24.9 and 19.2 percent from the previous year respectively

“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 €4.7 billion (US$5.1 billion), up 22.1% from the previous year, and operating profit was €120.5 million (US$130.8 million).

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.