DENSO Announces Third Quarter Financial Results JCN Newswire

DENSO Announces Third Quarter Financial Results

February 3, 2023
KARIYA, JAPAN, Feb 3, 2023 - (JCN Newswire via SEAPRWire.com) - DENSO, a leading mobility supplier, today announced global financial results for its third quarter, ending December 31, 2022, for its 2023 fiscal year, ending March 31, 2023:- Consolidated revenue totaled 4,635.7 billion yen (US$34.6 billion), a 15.6 percent increase from the previous year.- Consolidated operating profit totaled 267.9 billion yen (US$2.0 billion), a 4.6 percent increase from the previous year.- Consolidated profit attributable to owners of the parent company totaled 197.8 billion yen(US$1.5 billion), a 2.3 percent increase from the previous year."Revenue in the third quarter increased compared to the previous year due to sales recovery, sales expansion and foreign exchange gains. Operating profit increased compared to the previous year due to sales recovery, exchange gains and profit improvements," said Yasushi Matsui, CFO, senior executive officer and member of the Board of Directors of DENSO Corporation. "We have revised our revenue and operating profit forecasts for the year based on changing foreign exchange preconditions and current vehicle production losses, adjusting our revenue projection to 6,200.0 billion yen (US$46.3 billion) and our operating profit projection to 420.0 billion yen (US$3.1 billion). Challenging external factors, such as increased costs related to inflation, logistics, energy, materials and parts, have led us to pursue profit improvements, and we are working with customers to reflect this impact in sales prices globally."In Japan, revenue increased to 2,691.7 billion yen (US$20.1 billion), up 3.9% from the previous year, and operating profit was 146.7 billion yen (US$1.1 billion), a 1.8% rise from the previous year.In North America, revenue increased to 1,082.2 billion yen (US$8.1 billion), up 28.4% from the previous year, and operating loss was 15.0 billion yen (US$111.7 million). While revenue increased in the region, DENSO's North American operations faced difficult economic conditions, such as increased logistics and energy costs, which contributed to the operating loss. In Europe, revenue increased to 490.7 billion yen (US$3.7 billion), up 20.5% from the previous year, and operating profit was 9.1 billion yen (US$68.1 million), up 173.0% from the previous year.In Asia, revenue increased to 1,469.5 billion yen (US$11.0 billion), up 24.5% from the previous year and operating profit increased to 113.5 billion yen (US$847.6 million), a 8.1% increase from the previous year.In other areas, revenue increased to 76.8 billion yen (US$0.6 billion), up 42.7% from the previous year, and operating profit increased to 15.4 billion yen (US$115.2 million), up 32.3% from the previous year.For more information, visit www.denso.com/global/en/news/newsroom/2023/20230203-g01/. Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)
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DENSO Announces Second Quarter Financial Results JCN Newswire

DENSO Announces Second Quarter Financial Results

October 28, 2022
KARIYA, JAPAN, Oct 28, 2022 - (JCN Newswire via SEAPRWire.com) - DENSO, a leading mobility supplier, today announced its global financial results for its second quarter, ending September 30, 2022, for its 2023 fiscal year, ending March 31, 2023:- Consolidated revenue totaled 3,020.1 billion yen (US$20.9 billion), a 16.9 percent increase from the previous year.- Consolidated operating profit totaled 155.4 billion yen (US$1.1 billion), a 2.5 percent decrease from the previous year.- Consolidated profit attributable to owners of the parent company totaled 105.8 billion yen (US$0.7 billion), a 6.1 percent decrease from the previous year."Revenue in the first half of our fiscal year increased compared to the previous year due to sales recovery, sales expansion and foreign exchange gains. Operating profit slightly decreased compared to the previous year due to challenging business conditions," said Yasushi Matsui, CFO, senior executive officer and member of the Board of Directors of DENSO Corporation. "We have revised our revenue forecast for the full year based on changing foreign exchange preconditions, adjusting our revenue projection to 6,310.0 billion yen (US$43.6 billion), and we have secured our operating profit forecast from the previous announcement for the full year to 480.0 billion yen (US$3.3 billion), based on foreign exchange gains and profit improvements, though deterioration of our region mix has occurred."In Japan, revenue increased to 1,738.9 billion yen (US$12.0 billion), increasing 2.9% from the previous year, and operating profit was 91.0 billion yen (US$628.6 million), a 2.4% increase from the previous year.In North America, revenue increased to 715.0 billion yen (US$4.9 billion), up 26.6% from the previous year, and operating loss was 13.0 billion yen (US$89.6 million) (Operating profit of 2.9 billion yen in the same quarter of the previous year).In Europe, revenue increased to 321.9 billion yen (US$2.2 billion), up 19.4% from the previous year, and operating profit was 3.6 billion yen (US$24.9 million), decreasing 7.0% from the previous year.In Asia, revenue increased to 960.9 billion yen (US$6.6 billion), up 34.3% from the previous year and operating profit increased to 67.4 billion yen (US$465.1 million), a 17.4% increase from the previous year.In other areas, revenue increased to 53.6 billion yen (US$0.4 billion), up 48.6% from the previous year, and operating profit increased to 11.4 billion yen (US$78.7 million), up 42.9% from the previous year.(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 144.81 yen=US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market on September. 30, 2022. Billion is used in the American sense of one thousand million. Foreign exchange rates of the Forecast for Fiscal Year Ending March 31, 2023, as a precondition are US$= 134.5 yen, Euro=136.9 yen, CNY=19.9 yen.About DENSO CorporationDENSO is a $45.1 billion global 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 its 200 facilities to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 168,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. For more information about global DENSO, visit www.denso.com/global. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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Showa Denko Revises Forecast of Consolidated Performance ACN Newswire

Showa Denko Revises Forecast of Consolidated Performance

August 3, 2022
TOKYO, Aug 3, 2022 - (ACN Newswire via SEAPRWire.com) - Showa Denko (SDK) (TOKYO: 4004) announces that, taking the Company's recent performance into account, it revises its forecast of consolidated business results for the first half of the year ending on December 31, 2022 and that for the full year ending on December 31, 2022, both of which were announced on February 13, 2022.1. Revision of forecast of consolidated business results for January 1 - June 30, 2022 https://www.acnnewswire.com/docs/files/Low_SDK20228031.jpg2. Revision of forecast of consolidated business results for January 1 - December 31, 2022https://www.acnnewswire.com/docs/files/Low_SDK20228032.jpgReasons for the revisionIn the first half of 2022, Semiconductor and Electronic Materials segment showed good performance. Net sales in that period are expected to be in slight excess of the previous forecast, which was announced on February 14, 2022, due partly to a weak yen and a rise in prices of products, despite a decrease in sales volumes. Operating income is expected to exceed the previous forecast by about 7.7 billion yen due partly to a weak yen and a rise in prices of products, despite a rise in prices of raw materials, a rise in the cost of energy including electricity rates, and a rise in the cost of transportation. Ordinary income is expected to exceed the previous forecast by about 19.3 billion yen due partly to the recording of valuation profit concerning the Group's assets booked in foreign currencies caused by rapid depreciation of yen, and an improvement in the balance of financial account. Net income attributable to owners of the parent is also expected to exceed the previous forecast by about 25 billion yen due partly to the increase in ordinary income, and change in the period to record an extraordinary loss which is expected to be accrued as the cost of structural reform from the first half of 2022 into the second half of 2022.With regard to the Company's full-year performance forecast for 2022, net sales are expected to exceed the previous forecast due partly to a weak yen and a rise in prices of products. However, we leave the forecast of operating income for 2022 as it is in the previous forecast, which we announced on February 14, 2022, due partly to a rise in prices of raw materials, a rise in the cost of energy, and a rise in the cost of transportation. We expect that ordinary income for 2022 will exceed the previous forecast due partly to our recording of valuation profit concerning the Group's assets booked in foreign currencies and an improvement in the balance of financial account. Net income attributable to owners of the parent is also expected to exceed the previous forecast.Performance forecast and other statements pertaining to the future as contained in this document are based on the information available as of today and assumptions as of today regarding risk factors that could affect our future performance. Actual results may differ materially from the forecast due to a variety of risk factors, including, but not limited to, the influence of the coronavirus disease 2019 (COVID-19) on the world economy, the international situation, costs of naphtha and other raw materials, demand or market conditions for our products such as graphite electrodes and other commodities, and foreign exchange rates. We undertake no obligation to update the forward-looking statements unless required by law.About Showa Denko K.K.Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.Media contact:Showa Denko K.K., IR Office, Finance & Accounting Department, Tel: 81-3-5470-3323 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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