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DENSO fiscal Q2 profit falls YOY

DENSO Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥42.19 per share, a decline of 31.1% from ¥61.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.61 billion, a decrease of 31.2% from ¥48.88 billion in the year-earlier period.

The normalized profit margin declined to 3.0% from 4.7% in the year-earlier period.

Total revenue grew 7.7% year over year to ¥1.122 trillion from ¥1.042 trillion, and total operating expenses rose 9.9% on an annual basis to ¥1.061 trillion from ¥965.60 billion.

Reported net income fell 26.9% year over year to ¥39.18 billion, or ¥49.19 per share, from ¥53.58 billion, or ¥67.17 per share.

As of Nov. 11, US$1 was equivalent to ¥122.91.