Denso’s FY2018/19 net income drops 20.6% y/y to USD285.4 million
Company expects higher revenue and profit in FY2019/20
Denso’s net income dropped 20.6% year-over-year (y/y) to JPY254.5 billion (USD285.4 million) in the financial year ended 31 March 2019, the leading Japanese automotive supplier said in a press release on 26 April. Revenue increased by 5% y/y to JPY5.36 trillion. Despite higher revenue, the company witnessed 23.4% y/y drop in operating income to JPY316.2 billion.