DENSO Announces Financial Results

KARIYA, Japan, April 28, 2022 /PRNewswire/ -- DENSO, a leading mobility supplier, today announced its global financial results for its fiscal year, ending March 31, 2022:

• Consolidated revenue totaled 5,515.5 billion yen (US$45.1 billion), a 11.7 percent increase from the previous year.
• Consolidated operating profit totaled 341.2 billion yen (US$2.8 billion), a 120.0 percent increase from the previous year.
• Consolidated profit attributable to owners of the parent company totaled 263.9 billion yen US$2.2 billion), a 111.0 percent increase from the previous year.

"Both revenue and operating profit increased compared to the previous year due to recovery of vehicle sales from COVID-19 and profit improvements, though semiconductor shortages and other challenging business conditions occurred," said Yasushi Matsui, senior executive officer and member of the Board of Directors of DENSO Corporation. "We forecast for the next fiscal year 6,350.0 billion yen (US$51.9 billion) in revenue and 560.0 billion yen (US$4.6 billion) in operating income. While it is difficult to project how the business environment might change, we will expand ADAS and Electrification product sales, make gains through profit improvements and enhance our management foundation, strengthening our ability to cope with market changes."

In Japan, revenue increased to 3,515.1 billion yen (US$28.7 billion), up 10.6% from the previous year, and operating profit was 188.9 billion yen (US$1.5 billion), up 735.6% from the previous year.

In North America, revenue increased to 1160.2 billion yen (US$9.5 billion), up 13.1% from the previous year, and operating profit was 4.3 billion yen (US$34.8 million), decreased 70.9% from the previous year.

In Europe, revenue increased to 561.4 billion yen (US$4.6 billion), up 8.0% from the previous year, and operating loss was 3.4 billion yen (US$27.4 million).

In Asia, revenue increased to 1,637.9 billion yen (US$13.4 billion), up 25.6% from the previous year, and operating profit increased to 143.8 billion yen (US$1.2 billion), up 29.1% from the previous year.

In other areas, revenue increased to 76.6 billion yen (US$0.6 billion), up 89.6% from the previous year, and operating profit increased to 15.5 billion yen (US$126.4 million), up 121.1% from the previous year.

Forecast for Fiscal Year Ending March 31, 2023

(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 122.39 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on March. 31, 2022. Billion is used in the American sense of one thousand million.

Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2023, as a precondition are US$= 115.0 yen, Euro= 130.0yen.

About DENSO Corporation
DENSO is a $45.1 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 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ 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 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. For more information about global DENSO, visit https://www.denso.com/global/en/. 

SOURCE DENSO

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