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DENSO Announces First Quarter Financial Results


8/23/2010

 
KARIYA, Japan — DENSO Corp. announced global financial results for the first quarter ending June 30, 2010.

Highlights include:

•Consolidated net sales totaled 802.8 billion yen (US $9.1 billion), a 37.3 percent increase from the previous year.

•Consolidated operating income totaled 70.7 billion yen (US $798.6 million), an increase of 85.9 billion yen (US $970.3 million) from the previous year’s operating loss of 15.2 billion yen (US $171.7 million).

•Consolidated net income totaled 46.0 billion yen (US $519.7 million), an increase of 48.7 billion yen (US $550.0 million) from the previous year’s consolidated net loss of 2.7 billion yen (US $30.3 million).

“Despite a currency exchange loss, the sales and operating income increased due to the recovery of worldwide car production from last year,” said Sadahiro Usui, managing officer of DENSO Corp.

In Japan, the recovery of domestic car production, supported by the government’s vehicle incentive program and an increase of vehicle export, led to an increase in sales to 529.8 billion yen (US $6.0 billion), a 33.8 percent increase from the previous year. Despite currency exchange losses, an increase in production volume and cost reduction efforts led to an operating income of 33.3 billion yen (US $376.2 million), an increase of 58.0 billion yen (US $655.4 million) from the previous year’s operating loss.

In North America, due to the recovery of car production, sales totaled 144.4 billion yen (US $1.6 billion), a 54.0 percent increase from last year. As a result of the increase in production volume, the operating income totaled 7.6 billion yen (US $85.4 million), an increase of 11.1 billion yen (US$ 126.0 million) from the previous year’s operating loss.













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