DENSO Announces Year-End Financial Results
KARIYA (Japan) ―DENSO, a leading mobility supplier, today announced global financial results for its 2024 fiscal year, ending March 31, 2024:
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Consolidated revenue totaled 7,144.7 billion yen (US$47.2 billion), a 11.6 percent increase from the previous year.
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Consolidated operating profit totaled 380.6 billion yen (US$2.5billion), a 10.7 percent decrease from the previous year.
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Consolidated profit attributable to owners of the parent company totaled 312.8billion yen (US$2.1billion), a 0.6 percent decrease from the previous year.
“Revenue increased compared to the previous year due to strong vehicle sales mainly in Japan and North America, foreign exchange gains and the expansion of products for electrification, safety and Peace of Mind areas. Operating profit decreased compared to the previous year due to the provision for quality, but improvement efforts were strengthened by growing production volumes and so on and there were foreign exchange gains.” said Yasushi Matsui, CFO, Vice President and member of the Board of Directors of DENSO CORPORATION. “In the next fiscal year, we forecast 7,350.0 billion yen (US$48.5 billion) in revenue and 714.0 billion yen (US$4.7 billion) in operating profit. Our forecast of revenue and operating profit will be based on the expansion of products within electrification, safety and Peace of Mind areas, as well as improvement efforts and agile business enhancements. We will also consider uncertainties in the external environment, such as the reduction of products and sales in Japan and China and Asia and so on. The annual dividend for the concluded fiscal year is 55 yen, a 3 yen increase from the previous announcement, and the forecast for the next fiscal year is 64 yen, a 9 yen increase from the previous year. We will continue to improve DOE levels over the long term and in a stable manner.”
In Japan, revenue increased to 4166.4illion yen (US$27.5 billion), up 12.4% from the previous year, and operating profit was 85.2 billion yen (US$562.6 million), down 60.5% from the previous year.
In North America, revenue increased to 1,767.0 billion yen (US$11.7 billion), up 17.5% from the previous year, and operating profit was 54.6 billion yen (US$360.3 million) up 204.4% from the previous year.
In Europe, revenue increased to 781.3 billion yen (US$5.2 billion), up 14.0% from the previous year, and operating profit was 31.0 billion yen (US$204.8 million), up 77.6% from the previous year.
In Asia, revenue increased to 1,985.1 billion yen (US$13.1 billion), up 2.8% from the previous year and operating profit was 184.5 billion yen (US$1218.5 million), up 16.6% from the previous year.
In other areas, revenue increased to 115.2 billion yen (US$0.8 billion), up 13.8% from the previous year, and operating profit was 24.8 billion yen (US$163.7 million), up 28.7% from the previous year.
Forecast for Fiscal Year Ending March 31, 2025
| Full-Year Forecast | Changes from Previous FY | |
|---|---|---|
| Revenue | 7,350.0 billion yen [US$48.5 billion] |
+205.3 billion yen (+2.9 percent) |
| Operating profit | 714.0 billion yen [US$4.7 billion] |
+333.4 billion yen (+87.6 percent) |
| Profit before profit taxes | 772.0 billion yen [US$5.1 billion] |
+335.8 billion yen (+77.0 percent) |
| Profit attributable to owners of the parent company | 526.0 billion yen [US$3.5 billion] |
+213.2 billion yen (+68.2 percent) |
| ROE | 9.2% | +2.9% |
(Notes)
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 151.41 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on March 29, 2024. Billion is used in the American sense of one thousand million.
Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2025, as a precondition are US$= 145.0 yen, Euro= 155.0 yen, CNY=20.0 yen.
About DENSO CORPORATION
Globally headquartered in Kariya, Japan, DENSO is a $47.2 billion leading 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 around 180 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company’s 162,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 7.7 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2024. For more information about DENSO’s operations worldwide, visit https://www.denso.com/global.