DENSO CORPORATION ( (DNZOF) ) has released its Q2 earnings. Here is a breakdown of the information DENSO CORPORATION presented to its investors.
DENSO CORPORATION is a leading global supplier of advanced automotive technology, systems, and components, primarily operating in the automotive industry with a strong focus on environmental sustainability and safety innovations.
In its latest earnings report for the six months ending September 30, 2024, DENSO CORPORATION reported a slight decline in revenue by 1.1% year-over-year, totaling ¥3,474.9 billion. Despite the decrease in revenue, the company managed to achieve an 18.6% increase in operating profit, amounting to ¥251.2 billion, showcasing effective cost control and favorable currency exchange impacts.
Key financial performance metrics reveal a mixed regional performance. Revenue in Japan and Asia experienced declines due to reduced vehicle production and sales. However, North America saw a revenue increase of 7.9%, driven by currency depreciation benefits and cost reduction efforts. The company’s overall profit for the period rose by 10.8% to ¥205.6 billion, underscoring resilient operational performance amidst challenging market conditions.
Looking ahead, DENSO CORPORATION forecasts a full-year revenue of ¥7,020.0 billion, with expectations of continued profit growth, despite anticipating lower vehicle production in the latter half of the fiscal year. The company remains focused on leveraging its technological strengths to navigate market uncertainties and drive long-term growth.
