DENSO, Apr-Dec (Cumulative 3Q) Net Income Increases by 78%, Oct-Dec Net Income Increases by 18 times

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Fri Jan 31, 2025 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 January 31st (11:20). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 312 billion yen, an increase 78.1% compared to the same period last year. However, the progress rate toward the full-year plan of 437 billion yen was 71.6%, also falling below the five-year average of 85.3%.

Based on the cumulative third-quarter performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the January to March period (4Q) is expected to decrease 9.4% from the same period last year to 124 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income surged 18 times that of the same period last year, reaching 121 billion yen. The operating profit margin drastically improved from 1.5% in the same period last year to 8.3%.

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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, 2022	4,635,682	267,948	298,155	197,801	65.2	65.3	Feb 3, 2023	IFRS
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	73.5	Jan 31, 2025	IFRS
YoY	-1.2%	+68.3%	+55.1%	+78.1%	+83.5%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	3,545,148	298,773	327,266	246,163	87.0	32	Oct 31, 2024	IFRS
Oct - Mar, 2024 New	3,615,148	298,773	327,266	246,163	87.0	32	Jan 31, 2025	IFRS
Revision Rate	+2.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	7,020,000	550,000	609,000	437,000	154.4	64	Oct 31, 2024	IFRS
Mar, 2025 New	7,090,000	550,000	609,000	437,000	154.4	64	Jan 31, 2025	IFRS
Revision Rate	+1.0%	0.0%	0.0%	0.0%	0.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	3,631,235	168,779	188,574	143,868	48.3	30	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	3,615,148	298,773	327,266	246,163	87.0	32	Jan 31, 2025	IFRS
YoY	-0.4%	+77.0%	+73.5%	+71.1%	+80.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,401,320	426,099	456,870	314,633	104.0	46.25	Apr 27, 2023	IFRS
Mar, 2024	7,144,733	380,599	436,237	312,791	105.0	55	Apr 26, 2024	IFRS
Mar, 2025 Guidance	7,090,000	550,000	609,000	437,000	154.4	64	Jan 31, 2025	IFRS
YoY	-0.8%	+44.5%	+39.6%	+39.7%	+47.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	1,841,391	26,756	41,052	6,699	2.2	1.5	Feb 2, 2024	IFRS
Jan - Mar, 2024	1,789,844	142,023	147,522	137,169	46.0	7.9	Apr 26, 2024	IFRS
Apr - Jun, 2024	1,753,841	120,568	137,718	94,459	32.5	6.9	Jul 31, 2024	IFRS
Jul - Sep, 2024	1,721,011	130,659	144,016	96,378	33.1	7.6	Oct 31, 2024	IFRS
Oct - Dec, 2024	1,813,596	150,333	166,154	121,911	42.0	8.3	Jan 31, 2025	IFRS
YoY	-1.5%	+461.9%	+304.7%	+1,719.8%	+1,772.8%