Toyota supplier Denso cuts full-year operating profit forecast

Published on February 03, 2023 01:35 PM AEDT

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)

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