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DENSO's profit, revenue rise on higher production, sales expansion

Expanded sales boosted profit and revenue at auto parts and equipment supplier DENSO Corp. for the nine months ending Dec. 31, 2017.

The company reported profit of ¥251.28 billion for the period, up 31.6% from ¥190.91 billion in the nine months ending Dec. 31, 2016. Basic EPS increased to ¥321.57 from ¥241.45.

Consolidated operating profit increased 27.1% year over year to ¥314.63 billion from ¥247.50 billion, primarily because of an increase in production volume and cost reductions.

Revenue for the period totaled ¥3.699 trillion, an increase of 11.7% from ¥3.312 trillion in the year-ago period. DENSO attributed the increase in revenue to higher vehicle production and sales expansion.

Revenue from the Japanese segment rose 12.6% from a year earlier as a result of increased vehicle production and newly consolidated subsidiaries. Sales expansion in North America led to a 7.5% year-over-year increase in revenue for the segment. Revenue was up 14.4% in Europe and by 16.0% in Asia due to higher vehicle production and sales expansion.

For full fiscal year 2018, the company expects revenue to increase 11.1% from the previous year to ¥5.030 trillion. Profit is expected to rise 18.8% to ¥306.00 billion, and operating profit is projected to increase 19.5% to ¥395.00 billion.