Reported 3 months ago
Denso, Japan's prominent automotive supplier, has cut its full-year operating profit forecast by 3.1% to 692 billion yen, slightly below analyst expectations, following a first-quarter profit that matched predictions. Despite a 28% increase in quarterly profit to 120.6 billion yen, driven by foreign exchange gains, the company's overall outlook reflects a decrease in production due to weak vehicle sales in Asia. The adjustment comes after Denso's recent decision to sell its cross-shareholdings in Toyota-affiliated companies to finance future investments.
Source: YAHOO