Skip navigation
Newswire

Denso says Jan-March operating profit down 5.3 pct yr-on-yr

TOKYO, April 26 (Reuters) - Japan's Denso Corp, the world's second-biggest auto parts supplier, booked operating profit of 74.4 billion yen ($747.8 million) for the January-March quarter, down 5.3 percent from a year earlier when it was still recovering from an earthquake that disrupted production.

The quarterly figure was above an average estimate of 62.23 billion yen net profit among five analysts surveyed by Thomson Reuters I/B/E/S.

For this financial year ending March 2014 Denso, whose results serve as an indicator for carmakers as well as other components companies, expects to book a 285 billion yen operating profit, up 8.6 percent year-on-year.

Denso shares, which have soared more than 40 percent since the beginning of 2013, were down 1.3 percent early trade on Friday, underperforming a Nikkei index that dropped 0.42 percent. Denso is 22.5 percent-owned by Toyota Motor Corp . ($1 = 99.4900 Japanese yen) (Reporting by Yoko Kubota; Editing by Daniel Magnowski)