Toyota supplier Denso cuts full-year operating profit forecast

Follow us on Google News:
 Toyota supplier Denso cuts full-year operating profit forecast
Image source: ©2022 Kalkine Media®

TOKYO, Feb 3 (Reuters) - Japan's Denso Corp, a leading supplier to Toyota Motor Corp, on Friday slashed its annual operating profit forecast by 12.5%, missing analysts' estimates.

The company, a major manufacturer of automotive parts and chips, lowered its full-year operating profit forecast to 420 billion yen ($3.26 billion) for the year to end-March, a 60 billion-yen cut from the 480 billion yen expected previously.

That was lower than a 474.21 billion yen average forecast by 20 analysts. ($1 = 128.6600 yen) (Reporting by Daniel Leussink; Editing by Muralikumar Anantharaman)


The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK