Dec 24, 2008
DENSO Announces Revision of Full-year Financial Forecast
Kariya (Japan) - DENSO Corporation today announced that it has revised its financial forecast for the fiscal year ending March 31, 2009, announced on October 30, 2008.
"The perception of the business economy worldwide is significantly deteriorating as the financial crisis triggered in the United States is spreading around the world," said Sadahiro Usui, managing officer of DENSO Corporation. "The business environment in the automotive industry is also drastically declining due to decreasing exports and the appreciated yen in Japan, in addition to slumping consumer spending worldwide. Considering current conditions and future market trends, we have revised our full-year forecasts for the fiscal year ending March 31, 2009."
The expected exchange rates used for the financial outlook of the second-half are 93 yen = US$1 and 122 yen = 1 Euro.
Forecast for Fiscal Year Ending March 31, 2009
March 31, 2008
|Net Sales||3,650.0 billion yen
|3,300.0 billion yen
|-350.0 billion yen
|4,025.1 billion yen
|Operating Income||178.0 billion yen
|38.0 billion yen
|-140.0 billion yen
|348.7 billion yen
|Net Income||101.0 billion yen
|10.0 billion yen
|-91.0 billion yen
|244.4 billion yen
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world's major carmakers. Worldwide, the company employs approximately 119,000 people in 32 countries and regions, including Japan. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.
The above forecasts are created based on the 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 90.01 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on December 22, 2008. Billion is used in the American sense of one thousand million.