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| Feb 2, 2006 |
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DENSO Announces Third-quarter Financial Results
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-Global consolidated net sales rise 17.1 percent-
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TOKYO -DENSO Corporation today announced global financial results for the third quarter ended December 31, 2005:
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Consolidated net sales totaled 809.0 billion yen (US$6.9 billion), a 17.1 percent increase from the previous year. |
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Operating income totaled 86.2 billion yen (US$730.5 million), a 36.3 percent increase from the previous year. |
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Income before income taxes and minority interests for the year totaled 93.5 billion yen (US$792.4 million), a 42.2 percent increase from the previous year. |
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Consolidated net income totaled 56.7billion yen (US$480.5 million), a 42.3 percent increase from the previous year. |
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"Thanks to the increase in domestic and overseas car production for Japanese auto manufacturers, consolidated net sales increased dramatically," said Koji Kobayashi, managing officer, DENSO Corporation.
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In Japan, sales totaled 589.1 billion yen (US$5.0 billion), a 13.9 percent increase from the previous year, which was led by robust domestic car production and a rise in the popularity of car navigation systems. Operating income totaled 70.6 billion yen (US$598.3 million), a 23.9 percent increase from the previous year, due to an increase in production volume and cost reduction efforts.
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In North, Central and South America, strong production for Japanese auto manufacturers in North America contributed to the increase in sales totaling 171.3 billion yen (US$1.45 billion), a 25.6 percent increase from the previous year. Operating income totaled 4.2 billion yen (US$35.6 million), a decrease of 2.9 percent, due to the extra costs related to production increases at the plant in Arkansas and new additions to the product line-up.
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In Europe, increased sales of car navigation systems and car air conditioners led to a rise in overall sales to 105.5 billion yen (US$894.1 million), a 13.2 percent increase from the previous year. Operating income improved from the previous year to 0.9 billion yen (US$7.6 million), with the contribution of increased production volume in Hungary and the Czech Republic.
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In Asia and Oceania, sales totaled 104.9 billion yen (US$889.0 million), a 38.4 percent increase from the previous year. The production of the Toyota Innovative International Multi-purpose Vehicle, especially in ASEAN countries, led to the increase in sales. Operating income totaled 11.9 billion yen (US$100.8 million), a 104.4 percent increase from the previous year, which was led by the increase in production volume.
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"Because of our good financial results in this third quarter, we have revised and raised our fiscal year 2005 estimate announced on October 28, 2005," said Kobayashi.
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Forecast for fiscal year ending March 31, 2006:
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Revised FY Forecast
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Changes from Previous
FY
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Net Sales
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3,120.0 billion yen
(US$26.4 billion)
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+ 11.4 percent
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Income before income taxes
and minority interests
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268.8 billion yen
(US$2.3 billion)
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+ 20.3 percent
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Net Income
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160.0 billion yen
(US$1.4 billion)
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+ 20.6 percent
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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
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Notes:
U.S. dollar amounts have been translated, for convenience only, at the rate of 118 yen = US$1, the approximate exchange rate prevailing on December 31, 2005. Billion is used in the American sense of one thousand million.
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