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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 came to ¥72.07 per share, a decrease of 14.9% from ¥84.65 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥57.47 billion, a decline of 14.8% from ¥67.43 billion in the year-earlier period.

The normalized profit margin dropped to 5.6% from 6.8% in the year-earlier period.

Total revenue increased on an annual basis to ¥1.029 trillion from ¥997.57 billion, and total operating expenses climbed 5.4% from the prior-year period to ¥944.05 billion from ¥895.42 billion.

Reported net income fell 20.1% on an annual basis to ¥68.79 billion, or ¥86.25 per share, from ¥86.04 billion, or ¥108.03 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.