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.