DENSO Corporation today announced its third quarter global financial results for the nine months ending Dec. 31, 2009:

• Consolidated net sales totaled 2,118.2 billion yen (US$23.0 billion), a 19.5 percent decrease from the previous year.
• Consolidated operating income totaled 78.8 billion yen (US$855.4 million), a 7.5 percent decrease from the previous year.
• Consolidated net income totaled 50.4 billion yen (US$546.9 million), a 35.8 percent increase from the previous year.

In Japan, a decrease in domestic car production and product exports, mainly to North America and Europe, as well as currency exchange losses led to a decrease in sales to 1,463.2 billion yen (US$15.9 billion), a 19.4 percent decrease from the previous year. However, efforts such as a reduction in fixed costs led to an operating income of 13.7 billion yen (US$149.2million), a 380.2 percent increase from the previous year.
In Europe, despite an increase in sales to Fiat and BMW, lower car production from Toyota resulted in a decrease in sales to 299.5 billion yen (US3.3 billion), a 21.2 percent decrease from the previous year. As a result of the decrease in sales, the operating income totaled 5.7 billion yen (US$61.7million), a 25.8 percent decrease from the previous year, despite cost reduction efforts.
"Considering recent trends of car production worldwide and steady results from our cost reduction efforts, we have revised the full-year forecasts for the fiscal year ending March 31, 2010," said Usui. "The future business environment still remains unclear, but we will continue to work to improve earnings.

Forecast for Fiscal Year Ending March 31, 2010