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.
