Denso’s operating profit plummeted 74.4% in the first half of 2011

Japanese parts supplier Denso Group has announced the financial report for the first half of 2011-2012 fiscal year (April 1, 2011 to September 30, 2011).

In the first half of the fiscal year, Denso’s net sales were 1,410,100 million yen (18.4 billion US dollars), a year-on-year decrease of 11.4%; operating profit was 39.1 billion yen (416 million US dollars), a year-on-year decrease of 74.4%; net income was 23.3 billion The Japanese Yen (304 million U.S. dollars) decreased by 75.2% year-on-year.

From the perspective of each market, sales in the Japanese domestic market decreased by 10.8% year-on-year to 9,635 billion yen (12.6 billion U.S. dollars); sales in the North American market decreased by 20.7% year-on-year to 217.5 billion yen (2.8 billion U.S. dollars) The European market sales increased by 2.6% year-on-year to JPY 198.7 billion (USD 2.6 billion); sales in other markets decreased by 1.9% year-on-year to JPY 30.4 billion (USD 400 million).

Denso previously expected net sales for the full fiscal year 2011-2012 to be 3,170 billion yen (41.4 billion U.S. dollars); operating income of 135 billion yen (1.8 billion U.S. dollars); net income of 98 billion yen ( (1.3 billion U.S. dollars), Denso recently lowered its sales forecast to 3.16 trillion yen (41.2 billion U.S. dollars).