Denso revenue down 1.1% in half year results as vehicle sales in Asia slows

The group is also impacted by the suspended operations of Japanese customers.

Denso Corporation, an automotive components manufacturer, experienced a 1.1% year-on-year (YoY) revenue decrease for the six months ended 30 September due to a decline in vehicle production, driven by slowing vehicle sales in Asia and ongoing suspensions of operations amongst Japanese customers.

Denso, a major Toyota manufacturer, said that operating profit increased by 18.6% YoY mainly due to the depreciation of the yen and efforts of cost reduction despite production volume decrease.

The group still reported a profit before income taxes increased by 13.8% YoY. Profit for the period increased by 10.8% YoY whilst profit attributable to owners of the parent company 13%.