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DENSO fiscal Q1 profit falls YOY

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DENSO fiscal Q1 profit falls YOY

DENSO Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥55.20 per share, a decline of 30.3% from ¥79.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥43.76 billion, a decrease of 30.7% from ¥63.15 billion in the year-earlier period.

The normalized profit margin dropped to 4.0% from 5.7% in the year-earlier period.

Total revenue declined on an annual basis to ¥1.093 trillion from ¥1.106 trillion, and total operating expenses totaled ¥1.026 trillion, compared with ¥1.019 trillion in the prior-year period.

Reported net income decreased 37.6% from the prior-year period to ¥46.11 billion, or ¥58.16 per share, from ¥73.87 billion, or ¥92.59 per share.

As of Aug. 12, US$1 was equivalent to ¥100.91.