DENSO Announces Revision of its Financial Result Forecast

KARIYA, JAPAN: DENSO, the world’s second largest mobility supplier, today announced revised down of its financial result forecast for fiscal year 2019, ending March 31, 2020.

Due to factors such as the Reserve for warranty and the impact of the COVID-19 outbreak, Revenue, Operating profit, Profit before income taxes, net income, and Profit attributable to owners of the parent company will be revised down as described above.

The impact of the COVID-19 outbreak is the deterioration of operating efficiency due to plant shutdowns and production adjustments.

(Foreign exchange rates used for the full-year are US$=109 yen, Euro=121 yen)

(Notes)
The above forecasts are created based on the information obtained by the date of this announcement and the actual results may differ due to various causes in the future. U.S. dollar amounts have been translated, for convenience only, at the rate of 108.83 yen = US$1, the approximate exchange rate prevailing in the Tokyo Foreign Exchange Market March 31, 2020. Billion is used in the American sense of one thousand million.