Denso announced its global financial results for its second quarter, ending Sept. 30, 2021, for its 2022 fiscal year, ending March 31, 2022.
Consolidated revenue totaled US$23.1 billion, a 24.5 percent increase from the previous year. Consolidated operating profit totaled $1,423.5 million. Consolidated profit attributable to owners of the parent company totaled $1,007.2 million.
“Both revenue and operating profit increased due to recovery of vehicle sales from COVID-19 and because of profit improvements from the previous year, although the semiconductor shortage has occurred recently,” says Yukihiro Shinohara, senior executive officer and representative member of the board of directors of Denso Corporation.
“While it is difficult to project how the business environment might change due to factors like the lengthening of the semiconductor shortage, Denso secured our full-year forecast from the previous announcement. Revenue is $49.5 million and operating profit is $3,931.4 billion. We have achieved these results by strengthening our ability to cope with environmental changes and increasing profit,” says Yukihiro Shinohara, senior executive officer and representative member of the board of directors of Denso Corporation.
Revenue and operating income increased in all areas due to recovery in vehicle sales and production, and profit improved despite semiconductor shortages, the company reports.
In North America, revenue increased to $5.0 billion, up 29.4 percent from the same quarter in the previous year and operating income was $25.8 million.
In Japan, revenue increased to $15.1 billion, up 27.6 percent from the same quarter in the previous year; and operating income was $794.5 million.
In Europe, revenue increased to $2.4 billion, up 34.6 percent from the same quarter in the previous year) and operating income was $34.6 million.
In Asia, revenue increased to $6.4 billion, up 30.1 percent from the same quarter in the previous year, and operating income increased to $512.7 million, up 92.5 percent from the same quarter in the previous year.
In other areas, revenue increased to $322.5 million, up 151.1 percent from the same quarter in the previous year, and operating income increased to $71.3 million, up 194.7 percent from the same quarter in the previous year.
