Denso revises its operating profit forecast for the current fiscal year downward
$Toyota Motor(7203.JP$ It is the main supplier of $Denso(6902.JP$ The profit for the first quarter was announced almost as expected by the market, but the full-year operating profit forecast was revised downward by 3.1%.
The company lowered its operating profit forecast for the fiscal year ending March 31 next year from the previous 714 billion yen to 692 billion yen, which fell below the average forecast of 709.9 billion yen of 17 analysts polled by LSEG.
Denso said in a statement that the downgrade simply reflected that its first quarter results fell short of company expectations, and that it maintained earnings forecasts for the rest of the fiscal year.
Denso, the world's second-largest auto parts manufacturer, announced that operating profit for the fiscal year ending April-6 this year increased 28% to 120.6 billion yen, which exceeded analysts' average forecast of 117.3 billion yen.
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sleepinglion : As an amateur... does Denso say -7.22% here too...? Stop low and I'll wait at the limit price...