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DENSO (6902) investor relations material
DENSO Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 FY2027 revenue rose 7.0% YoY to ¥3,843.6bn, while operating profit fell 19.5% to ¥170.1bn amid material costs, growth investment and a prior-year one-time factor.
CORE 2030 targets sustainable growth through higher-value products, manufacturing innovation, people development and partner co-creation.
Financial highlights
Profit before income taxes fell 17.6% YoY to ¥201.5bn; parent-attributable profit declined 8.8% to ¥119.8bn, while profit for the period fell 13.0% to ¥131.5bn.
Basic EPS was ¥46.36 versus ¥47.70; gross profit declined to ¥509.1bn from ¥520.9bn despite higher revenue.
Operating cash flow was ¥193.2bn versus ¥335.9bn; investing cash outflow was ¥161.2bn versus ¥217.7bn.
Comprehensive income fell to ¥66.3bn from ¥311.8bn, including a swing in other comprehensive income from a ¥160.6bn gain to a ¥65.2bn loss.
Outlook and guidance
FY2027 forecasts remained unchanged: revenue ¥7,750.0bn, operating profit ¥500.0bn, pretax profit ¥553.0bn and parent-attributable profit ¥382.0bn.
Net income forecast is ¥422bn; forecast operating margin is 6.5%, ROE 7.2%, and annual dividend ¥74 per share, including ¥37 interim.
Higher material costs and lower production volume are expected to be offset by yen weakness and cost reductions; Q3-onward FX assumptions are ¥153/USD and ¥180/EUR.
FY2027 vehicle production forecasts: Japan 8.42m units, up 0.20m; overseas production of Japanese manufacturers 16.11m, down 0.60m YoY.
- Q1 revenue up 9.1% YoY, but operating profit down 21.5% due to higher costs and investments.6902
Q1 2027 - Revenue and profit grew, but FY2027 outlook is cautious with lower profit expected amid higher investments and risks.6902
Q4 2026 - CORE 2030 aims for over 8 trillion yen sales by 2030, led by electrification and new domains.6902
Investor presentation - Revenue up 3.9% year-over-year, but operating profit down 6.4% on higher costs and tariffs.6902
Q3 2026 - Revenue up 3.3% YoY, but operating profit down 15.8% on quality costs and tariffs.6902
Q2 2026 - Revenue steady, profit down 11% on tariffs and FX; guidance raised, buybacks ongoing.6902
Q1 2026 - Operating profit rose 18.6% despite lower revenue, with higher dividends and share buyback.6902
Q2 2025 - Revenue and profit rose, but comprehensive income dropped sharply on investment losses.6902
Q1 2025 - Operating profit and margins improved on cost control and FX gains; FY2026 profit growth expected.6902
Q4 2025
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