Denso Corp.’s net sales, operating income and net income are up year over year for the fiscal year ending March 31.
The company reported net sales totaling $39.8 billion, a 14.4% increase from the previous year. Additionally, operating income was up to $3.7 billion, a 44% increase year over year, and net income totaled $2.8 billion, a 58.2% increase YoY.
“The sales and operating income increased due to an increase in car production mainly in developed countries, in addition to the impact of the weak yen,” said Nobuaki Katoh, president and CEO of Denso Corp.
In North America, an increase in car production and the impact of the weak yen led to an increase in sales to $7.9 billion, a 28.5% increase from the previous year, the company noted. In Japan, those factors led to $26.4 billion in sales, 10.3% increase from the previous year.
In Europe, the gradual recovery from the economic slump and the weak yen led to an increase in sales to $4.8 billion, a 34% increase from the previous year. While in Asia the increase in car production (mainly in China) led to $9.2 billion in sales, an 18.8% increase from the previous year, the company said.
For the upcoming fiscal year, Denso expects sales to increase while income to decrease.
“This is due to the decrease in production volume within Japan, in addition to investment costs for initiating new products and to increase capabilities in overseas plants for future competitiveness,” Katoh said.
