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DENSO, Net Income Forecast for the Fiscal Year Revised Downward by 15%

Tue Feb 3, 2026 11:20 am JST Earnings

6902 DENSO CORPORATION 【IFRS】

Earnings Report

DENSO CORPORATION <6902> [TSE Prime] announced its financial results (based on IFRS) in the morning on February 3rd (11:20). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) decreased 12.5% from the same period last year to 273 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 15.5%, from the previous forecast of 497 billion yen to 420 billion yen (compared to 419 billion yen in the previous period), leading to a reduction in the profit growth rate from 18.6% to 0.2%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (second half) has decreased 21.1%, from the previous forecast of 365 billion yen to 288 billion yen (compared to 228 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 60.2% to 26.5%.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 16.7% from the same period last year, reaching 142 billion yen. The operating profit margin improved from 8.3% in the same period last year to 8.6%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 5,354,889 238,576 288,715 175,622 58.6 66.2 Feb 2, 2024 IFRS
Apr - Dec, 2024 5,288,448 401,560 447,888 312,748 107.6 77.5 Jan 31, 2025 IFRS
Apr - Dec, 2025 5,495,528 375,879 437,783 273,674 100.1 72.5 Feb 3, 2026 IFRS
YoY +3.9% -6.4% -2.3% -12.5% -7.0%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 3,649,533 439,583 469,558 365,643 135.8 32 Oct 31, 2025 IFRS
Oct - Mar, 2025 New 3,829,533 323,583 359,558 288,643 107.2 32 Feb 3, 2026 IFRS
Revision Rate +4.9% -26.4% -23.4% -21.1% -21.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 7,240,000 651,000 714,000 497,000 184.6 64 Oct 31, 2025 IFRS
Mar, 2026 New 7,420,000 535,000 604,000 420,000 156.0 64 Feb 3, 2026 IFRS
Revision Rate +2.5% -17.8% -15.4% -15.5% -15.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 3,686,925 267,726 296,271 228,244 79.0 32 Apr 25, 2025 IFRS
Oct - Mar, 2025 Guidance 3,829,533 323,583 359,558 288,643 107.2 32 Feb 3, 2026 IFRS
YoY +3.9% +20.9% +21.4% +26.5% +35.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 7,144,733 380,599 436,237 312,791 105.0 55 Apr 26, 2024 IFRS
Mar, 2025 7,161,777 518,953 578,005 419,081 145.0 64 Apr 25, 2025 IFRS
Mar, 2026 Guidance 7,420,000 535,000 604,000 420,000 156.0 64 Feb 3, 2026 IFRS
YoY +3.6% +3.1% +4.5% +0.2% +7.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 1,813,596 150,333 166,154 121,911 42.0 8.3 Jan 31, 2025 IFRS
Jan - Mar, 2025 1,873,329 117,393 130,117 106,333 36.8 6.3 Apr 25, 2025 IFRS
Apr - Jun, 2025 1,754,137 107,205 140,227 79,268 28.5 6.1 Jul 31, 2025 IFRS
Jul - Sep, 2025 1,836,330 104,212 104,215 52,089 18.9 5.7 Oct 31, 2025 IFRS
Oct - Dec, 2025 1,905,061 164,462 193,341 142,317 52.1 8.6 Feb 3, 2026 IFRS
YoY +5.0% +9.4% +16.4% +16.7% +24.1%

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