TOKYO, April 28 (Reuters) - Japan's Denso Corp, the world's second-biggest maker of automotive parts, forecast a 7 percent rise in operating profit for the year ahead, citing an anticipated rise in Asian sales.
Denso, an affiliate of Toyota Motor Corp, said on Tuesday it expected operating profit of 380 billion yen ($3.19 billion) for the year through next March, based on a dollar rate of 115 yen and a euro of 125 yen. Denso adopted international financial reporting standards (IFRS) from this year.
The expected rise in profit follows a 6.0 percent drop in the just-ended year to 355.1 billion yen, as higher labour and depreciation costs outweighed currency-related gains. ($1 = 119.1100 yen) (Reporting by Chang-Ran Kim; Editing by Alan Raybould)