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Companies : Denso Corporation DENSO Announces First-half FY2005 Financial Results
In Japan, sales totaled 1,081.2 billion yen (US$9.6 billion), an 8.7 percent increase from the previous year, and operating income totaled 92.1 billion yen (US$815.0 million), a 5.7 percent increase from the previous year. A rise in the popularity of car navigation systems and an increase in demand for hybrid vehicle components contributed to the increase in sales. The increase in operating income was led by the increase in production volume. In North, Central and South America, combined sales totaled 327.1 billion yen (US$2.9 billion), an 11.1 percent increase from the previous year. The increase in car production for Japanese auto manufacturers and the sales expansion of car navigation systems in North America resulted in this increase. In spite of production volume increases, operating income decreased to 11.8 billion yen (US$104.4 million), a decrease of 22.4 percent, due to the extra costs related to production transfer from Michigan to the new plant in Arkansas and new additions to the product line-up. In Europe, increased sales of car air conditioners and car navigation systems led to sales of 196.4 billion yen (US$1.7 billion), a 7.0 percent increase from the previous year. Operating income improved from the previous year to a 0.8 billion yen (US$7.1 million) operating loss, with the contribution of increased production volume in the Czech Republic. In Asia and Oceania, sales totaled 183.6billion yen (US$1.6 billion), a 44.4 percent increase from the previous year, and operating income totaled 16.5 billion yen (US$146.0 million), a 100.7 percent increase from the previous year. The Toyota Innovative International Multi-purpose Vehicle, and the increase in car production for Japanese auto manufacturers, especially in ASEAN countries, resulted in an increase in both sales and operating income. "As a result of our good financial results in this interim period, we have revised and raised our fiscal year 2005 estimates announced on April 28, 2005," said Kobayashi.
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