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DENSO, Net Income Forecast for the Fiscal Year Revised Downward by 3%

Fri Oct 31, 2025 11:10 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 October 31st (11:10). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 31.2% from the same period last year to 131 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 3.5%, from the previous forecast of 515 billion yen to 497 billion yen (compared to 419 billion yen in the previous period), leading to a reduction in the profit growth rate from 22.9% to 18.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand 60.2% from the same period last year, reaching 365 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 52.0 billion yen, a 46.0% decrease compared to the same period last year. The operating profit margin worsened from 7.6% in the same period last year to 5.7%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 3,513,498 211,820 247,663 168,923 56.4 56.8 Oct 31, 2023 IFRS
Apr - Sep, 2024 3,474,852 251,227 281,734 190,837 65.6 48.7 Oct 31, 2024 IFRS
Apr - Sep, 2025 3,590,467 211,417 244,442 131,357 47.7 34.2 Oct 31, 2025 IFRS
YoY +3.3% -15.8% -13.2% -31.2% -27.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 32 Apr 25, 2025 IFRS
Apr - Sep, 2025 Results 3,590,467 211,417 244,442 131,357 47.7 32 Oct 31, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 7,200,000 675,000 743,000 515,000 191.3 64 Jul 31, 2025 IFRS
Mar, 2026 New 7,240,000 651,000 714,000 497,000 184.6 64 Oct 31, 2025 IFRS
Revision Rate +0.6% -3.6% -3.9% -3.5% -3.5%

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 3,649,533 439,583 469,558 365,643 135.8 32 Oct 31, 2025 IFRS
YoY -1.0% +64.2% +58.5% +60.2% +72.0%

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 7,240,000 651,000 714,000 497,000 184.6 64 Oct 31, 2025 IFRS
YoY +1.1% +25.4% +23.5% +18.6% +27.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
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
YoY +6.7% -20.2% -27.6% -46.0% -42.9%

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