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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 amounted to ¥61.28 per share, a decrease of 14.2% from ¥71.38 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥48.88 billion, a decline of 14.1% from ¥56.88 billion in the year-earlier period.

The normalized profit margin declined to 4.7% from 5.7% in the year-earlier period.

Total revenue rose 5.2% on an annual basis to ¥1.042 trillion from ¥990.29 billion, and total operating expenses climbed 7.3% on an annual basis to ¥965.60 billion from ¥900.25 billion.

Reported net income declined 16.3% year over year to ¥53.58 billion, or ¥67.17 per share, from ¥64.04 billion, or ¥80.37 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.