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DENSO fiscal Q1 profit climbs 52.9% YOY

DENSO Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥85.23 per share, a gain of 54.4% from ¥55.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥66.89 billion, a gain of 52.9% from ¥43.76 billion in the year-earlier period.

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

Total revenue climbed 6.6% year over year to ¥1.165 trillion from ¥1.093 trillion, and total operating expenses increased on an annual basis to ¥1.072 trillion from ¥1.026 trillion.

Reported net income rose 66.3% on an annual basis to ¥76.70 billion, or ¥97.73 per share, from ¥46.11 billion, or ¥58.16 per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.