DENSO Announces First-Half Financial Results
Nov. 4, 2014—DENSO Corp., a supplier of advanced technology, systems and components in the areas of thermal, powertrain control and electronics, announced Friday its global financial results for the first half of the fiscal year ending, Sept. 30.
Consolidated net sales totaled $18.9 billion, a 4.2 percent increase from the previous year. Consolidated net income totaled $1.1 billion, a 18.5 percent decrease from the previous year.
”Sales increased due to the production volume increase. Despite cost reduction efforts and the increase in production volume, research and development expenditures and investment costs led to the decrease in operating income” Nobuaki Katoh, president and CEO of DENSO Corp., said in a release.
In North America, an increase in car production, boosted by the steady economic growth, led to an increase in sales to $4.1 billion, a 10.8 percent increase from the previous year. As a result of the increase in production volume and the cost reduction effort, the operating income totaled $123.2 million, a 44.8 percent increase from the previous year.