DENSO Announces Year-end Financial Results
KARIYA (Japan) ―DENSO, a leading mobility supplier, today announced its global financial results for its fiscal year ending March 31, 2021:
Consolidated revenue totaled 4,936.7 billion yen (US$44.6 billion), a 4.2 percent decrease from the previous year.
Consolidated operating profit totaled 155.1 billion yen (US$1.4 billion), a 153.9 percent increase from the previous year.
Consolidated profit attributable to owners of the parent company totaled 125.1 billion yen (US$1.1 billion), a 83.6 percent increase from the previous year.
"Revenue is recovering steadily due to the improve in vehicle sales, but sales in the full-year decreased compared to last fiscal year due to the significant decline in the first quarter. Operating income increased year-over-year due to the effects of additional measures.” said Yasushi Matsui, senior executive officer of DENSO Corporation.
In Japan, despite an increase in sales for primarily Toyota Motor Corporation, revenue decreased to 3,177.0 billion yen (US$28.7 billion) (Down 2.7% from the previous year). An operating income increased to 22.6 billion yen (US$204.2 million) (Operating loss of the previous year was 88.8 billion yen) despite some factors such as the quality cost provision.
In North America, revenue decreased to 1,026.2 billion yen (US$9.3 billion) (Down 12.8% from the previous year) and operating income decreased to 14.6 billion yen (US$132.3 million) (Down 37.7% from the previous year).
In Europe, revenue decreased to 519.7 billion yen (US$4.7 billion) (Down 10.9% from the previous year) and operating income decreased to 3.1 billion yen (US$28.1 million) (Down 78.3% from the previous year).
In Asia, revenue in China led sales throughout the full-year and revenue increased to 1,303.8 billion yen (US$11.8 billion) (Up 2.0% from the previous year) and operating income increased to 111.4 billion yen (US$1,006.4 million) (Up 7.9% from the previous year).
In other areas, revenue decreased to 40.4 billion yen (US$365.0 million) (Down 33.5% from the previous year) and operating income decreased to 7.0 billion yen (US$ 63.2million) (Down 28.4% from the previous year).
Despite all regions without Asia recording an operating loss in the first quarter, all regions achieved operating income in the full-year.
“The full-year forecast for the next fiscal year, revenue is 5,460.0 billion yen (US$49.3 billion) and operating income is 413.0 billion yen (US$3.7 billion). Although there are concerns about the effects of shortage of semiconductor, we expect sales expansion of ADAS and Electrification products and gains from further corporate reform.” said Matsui.
Forecast for Fiscal Year Ending March 31, 2022
|Full-Year Forecast||Changes from Previous FY|
|Revenue|| 5,460.0 billion yen
| +523.3 billion yen
|Operating profit|| 413.0 billion yen
| +257.9 billion yen
|Profit before income taxes|| 451.0 billion yen
| +257.2 billion yen
|Profit attributable to owners of the parent company|| 317.0 billion yen
| +191.9 billion yen
The above forecasts are created based on information obtained by the date of this announcement and the actual results may differ due to various causes in the future. U.S. dollar amounts have been translated, for convenience only, at the rate of 110.71 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on March 31, 2021. Billion is used in the American sense of one thousand million.
Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2022, as a precondition are US$1= 105 yen, 1Euro= 125yen.
About DENSO Corporation
DENSO is a $44.6 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company’s 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 10.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2021. For more information about global DENSO, visit https://www.denso.com/global