TOKYO, July 31 : Japan's Denso, a major auto parts supplier to Toyota, posted a 21.5 per cent decline in first-quarter operating profit on Friday, as rising parts and material costs outweighed a boost from a weaker yen. The auto parts supplier, which generates around 55 per cent of its revenue from Toyota group companies, maintained its full-year operating profit forecast of 500 billion yen ($3.1 billion) for the year ending on March 31, 2027. Operating profit for the three months to end-June totalled 84.2 billion yen, versus a median forecast of 102.4 billion yen in a poll of nine analysts surveyed by LSEG. A year earlier, the company had posted an operating profit of 107.2 billion yen.Denso shares sold off sharply following the release, last trading down more than 8 per cent compared to a 4.4 per cent rise in the main Nikkei 225 index. ($1 = 160.5500 yen)
Toyota supplier Denso posts drop in first-quarter profit
TOKYO, July 31 : Japan's Denso, a major auto parts supplier to Toyota, posted a 21.5 per cent decline in first-quarter operating profit on Friday, as rising parts and material costs outweighed a boost from a weaker yen. The auto parts supplier, which generates around 55 per cent of its revenue from Toyota gro
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