Back Jul 29, 2005 DENSO Announces First-quarter Financial Results -Global consolidated net sales rise more than 10 percent- Tokyo, Japan DENSO Corporation today announced global financial results for the first quarter ended June 30, 2005: •  Consolidated net sales totaled 753.4 billion yen (US$6.8 billion), a 10.7 percent increase from the first quarter of last term. •  Operating income totaled 71.2 billion yen (US$641.4 million), an 18.7 percent increase from the first quarter of last term. •  Income before income taxes and minority interests for the period totaled 65.8 billion yen (US$592.8 million), a 3.3 percent increase from the first quarter of last term. •  Consolidated net income totaled 36.0 billion yen (US$324.3 million), a 2.5 percent decrease from the first quarter of last term. The decrease is mainly due to the extraordinary loss resulting from the charge for full amount of transitional obligation for employees' retirement benefits at DENSO subsidiaries in the United Kingdom “We are pleased with the financial results for this first quarter," said Koji Kobayashi, managing officer of DENSO Corporation. "The increase in domestic and overseas car production for Japanese auto manufacturers contributed to the increase in sales, and the increase in production volume in Japan and Asia and Oceania contributed to the increase in operating income.” In Japan, sales totaled 535.2 billion yen (US$4.8 billion), a 9.0 percent increase from the first quarter of last term, and operating income totaled 53.6 billion yen (US$482.9 million), a 10.4 percent increase from the first quarter of last term. Growing domestic car production and continuing growth in the popularity of car navigation systems contributed to the increase in sales. The increase in operating income was led by the increase in production volume. In North, Central and South America, combined sales totaled 161.7 billion yen (US$1.5 billion), an 8.0 percent increase from the first quarter of last term. The growth in car production for Japanese auto manufacturers in North America contributed to this increase. In spite of the rise in production volume, operating income decreased to 8.1 billion yen (US$ 73.0 million), a decline of 9.9 percent, due to production transfer to DENSO's new plant in Arkansas and new additions to the product line-up. In Europe, sales totaled 104.7 billion yen (US$943.2 million), an 8.0 percent increase from the previous period, due to sales growth in car navigation systems, car air conditioners, and diesel common rail systems. An increase in production volume in the Czech Republic led to the increase in operating income in this region. In Asia and Oceania, sales totaled 90.5 billion yen (US$815.3 million), a 47.5 percent increase from the first quarter of last term, and operating income totaled 8.7 billion yen (US$78.4 million), a 111.9 percent increase from the first quarter of last term. Production of the Toyota Innovative International Multi-purpose Vehicle, or "IMV", especially in ASEAN countries, resulted in an increase in both sales and operating income. "As a result of our good financial results in this first quarter, we have revised and raised our first-half fiscal year estimates announced on April 27," said Kobayashi. Forecast for First-Half Fiscal Year Ended September 30, 2005   Revised First-half Forecast Changes from Previous First-half Net Sales 1,470.0 billion yen (US$13.2 billion) + 8.5 percent Operating income 114.0 billion yen (US$1.0 billion) + 6.2 percent Income before income taxes and minority interests 108.8 billion yen (US$980.2 billion) - 3.2 percent Net Income 61.0 billion yen (US$549.5 million) - 8.2 percent DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 104,000 people in 31 countries and regions, including Japan. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges in Japan. Notes: U.S. dollar amounts have been translated, for convenience only, at the rate of 111 yen = US$1, the approximate exchange rate prevailing on June 30, 2005. Billion is used in the American sense of one thousand million. Back		Financial Results  (PDF)

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