FY2013 1st Quarter Financial

Results ended June 30, 2012

July 31, 2012

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Overview of FY2013 1st Quarter Financial Results

1

/ 11

1.
1. Both
Both of
of Sales
Sales and
and income
income are
are sharply
sharply increased
increased
from
from the
the previous
previous year
year

2.Considering
2.Considering the
the result
result of
of first-quarter
first-quarter financial
financial
results,
results, upwardly
upwardly revise
revise the
the original
original forecasts
forecasts
for
for the
the first-half
first-half financial
financial results
results

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

FY2013 1st Quarter Financial Results

2
(Unit: Billions of Yen)

(Ratio to Sales)

FY13
FY13 1Q
1Q
Sales
Sales
Operating
Operating
Income
Income

FY12
FY12 1Q
1Q

882.4
882.4

Change
Change

630.2
630.2

+252.2
+252.2

+40.0%
+40.0%

(8.9%)

78.2
78.2

(-0.7%)

-4.4
-4.4

+82.5
+82.5

--

Income
Income before
before
Income
Income Taxes
Taxes

(9.6%)

85.1
85.1

(0.4%)

2.5
2.5

+82.7
+82.7

+3,310.0%
+3,310.0%

Net
Net Income
Income

(5.6%)

49.1
49.1

(0.4%)

2.6
2.6

+46.5
+46.5

+1,801.7%
+1,801.7%

Foreign
Foreign
Exchange
Exchange Rate
Rate

JPY
JPY 80/$
80/$
JPY103/Euro
JPY103/Euro

/ 11

JPY
JPY 82/$
82/$
JPY117/Euro
JPY117/Euro

-- JPY
JPY 22
-- JPY14
JPY14
(Unit: Millions of Units)

Domestic
Domestic Car
Car
Production
Production
Overseas
OverseasCar
Car
Production
Productionof
ofJapanese
Japanese
Manufacturers
Manufacturers
(North
(NorthAmerica)
America)

2.40
2.40

1.46
1.46

+0.94
+0.94

+64.4%
+64.4%

4.16
4.16

2.85
2.85

+1.31
+1.31

+46.0%
+46.0%

(1.31)
(1.31)

(0.67)
(0.67)

(+0.64)
(+0.64)

(+95.5%)
(+95.5%)

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Change in 1st Quarter Consolidated Sales

By Customer

(Unit: Billions of Yen)

After-market,
New business&Others

85.2
OE 13.5%

Toyota
FY12 1Q Group

Sales
for
others

291.7

630.2

253.3
40.2%

300
350

300
250

200

46.3%

150

After-market,
New business&Others

85.4
9.7%
OE
Sales
for
others

330.6
37.4%

FY13 1Q

Toyota
Group

882.4
466.4
52.9%

100

50

3

OE Sales for others
330.6
291.7

117.4

105.2
10.7
11.4
13.7
14.7
17.6
18.3
19.1
21.2

/ 11

( ):Change from FY12 1Q

Others

(+11.6%)

15.8
9.9
15.9
14.3
20.0
15.3
20.9

Mazda
Mitsubishi
Chrysler
VW・AUDI
Suzuki
Ford
Hyundai/Kia

(+48.0%)
(-13.0%)
(+16.3%)
(-2.2%)

22.3

GM

(+5.5%)

17.8

Fiat

(-28.9%)

61.0

Honda

(+75.2%)

(+13.9%)
(-16.7%)
(+9.0%)

25.0
34.8

0
FY12
'11/61Q

FY13
1Q
'12/6
This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Change in 1st Quarter Consolidated Sales

By Business Segment
(Unit: Billions of Yen)

1,000

/ 11

( ):Change from FY12 1Q

882.4
630.2

26.6
64.7
82.7

800

600

4

24.8
42.3
48.9
93.4

400

149.5

258.3

Others
Small Motors

(+ 7.3%)
(+ 52.9%)

Electronic

(+ 69.1%)

Information
(+ 60.1%)
& Safety Systems
Thermal

(+ 28.6%)

Powertrain
Control

(+ 36.7%)

200.9
200

219.9

300.6

0

FY12 1Q

FY13 1Q

*The Engine Electrical Systems Business Unit and EHV Components Business Unit will be incorporated into the Powertrain Control Systems Business Group. Moreover, the
Electric Control Components Division will be incorporated into the Information & Safety Systems Business Group. After the change, the existing five business groups will be
reorganized into four business groups.
This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Change in 1st Quarter Operating Income

5

/ 11

(Unit: Billion of Yen)

+75.0
合理化

Production
volume
increase

+2.0

+11.8
+2.7
+1.0
Temporary

Depre- Others cost of
Raw
earthquake
ciation
material
(Last year)
Variable
cost
cost
reduction

+7.0

-4.4
Operating
loss

-8.0

-6.0

Expense Currency -3.0
exchange
Labor
loss
cost

FY12 1Q

78.2
Operating
Income

FY13 1Q
This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

1st Quarter Geographical Segments by Company Location

Sales

620.9

60
40
35
55

600
500

+55.7%

550
450

55.1

+27.7%
(+33.4%)

25

-42.8%
(-36.0%)

20

350
450

400
300

Operating Income

[8.9%]

30
50

500
400

398.8
+57.8%
(+61.8%) -13.9%
(-2.1%)

250
200

101.1

100

0

Japan

North
America

欧州

Europe

豪亜

[9.7%] [7.0%]

1.5 1.0

その他

Asia &
Oceania Others

[-2.5%]

-5

-20
-10
-25
-15

北米

5.2 [2.9%] [1.9%]
3.2
1.8

-35.8%
(-19.0%)

0

15.8
14.0
日本
FY12
FY13
1Q
1Q

[3.3%]

5

-11.4%
(+9.3%)

50

17.0

13.3

10

108.6
93.5

[9.7%]
[9.0%]

15

175.3
147.3

159.6

150

+19.1%
(+24.8%)

/ 11

[ ]: Ratio to Sales

( ): Local Currency Basis

(Unit: Billions of Yen)
550
650

6

-2.5
[-6.1%]

-24.4
FY12
FY13
日本
1Q
1Q

Japan

北米
North
America

欧州

豪亜

その他

Asia &

Europe Oceania Others

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

FY2013 1st Half Financial Forecast

7

(Ratio to Sales)
FY13 2Q YTD
Original

Sales
Sales
Operating
Operating
Income
Income

Income
Income before
before
Income
Income Taxes
Taxes

Net
Net Income
Income

1,680.0
1,680.0

/ 11

(Unit: Billions of Yen)

FY13
FY13 2Q
2Q YTD
YTD FY12 2Q YTD
FY12 2Q YTD
Revised
Revised

1,740.0
1,740.0

Change
Change

1,409.1
1,409.1

+330.9
+330.9

+23.5%
+23.5%

(5.4%)

90.0
90.0

(7.8%)

135.0
135.0

(2.3%)

31.9
31.9

+103.1
+103.1

+323.7%
+323.7%

(5.7%)

95.0
95.0

(8.2%)

142.5
142.5

(2.8%)

39.3
39.3

+103.2
+103.2

+262.4%
+262.4%

(3.9%)

66.0
66.0

(5.1%)

88.0
88.0

(1.7%)

23.3
23.3

+64.7
+64.7

+277.9%
+277.9%

(Unit:Millions of Units)

Foreign
Foreign
Exchange
Exchange Rate
Rate
Domestic
Domestic Car
Car
Production
Production
Overseas
OverseasCar
CarProduction
Production
of
Japanese
of Japanese
Manufacturers
Manufacturers
(North
(NorthAmerica)
America)

JPY
JPY 80/$
80/$
JPY105/Euro
JPY105/Euro

JPY
JPY 80/$
80/$
JPY101/Euro
JPY101/Euro

JPY
JPY 80/$
80/$
JPY114/Euro
JPY114/Euro

--- JPY13
JPY13

4.54
4.54

4.82
4.82

3.73
3.73

+1.09
+1.09

+29.2%
+29.2%

8.06
8.06

8.11
8.11

6.79
6.79

+1.32
+1.32

+19.4%
+19.4%

(2.37)
(2.37)

(2.48)
(2.48)

(1.56)
(1.56)

(+0.92)
(+0.92)

(+59.0%)
(+59.0%)

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Change in 1st Half Operating Income

8

/ 11

(Unit: Billion of Yen)

+107.0
Production
volume
increase

+15.0
+1.0 +1.4 Temporary

+14.0

cost of
Raw
Other
earthquake
material
(Last year)
cost

Variable
cost
reduction

-19.7
31.9

Expense

Operating
Income

FY12
2Q YTD

135.0
-6.3

-6.2

Labor Currency -3.1
cost exchange
loss
Depreciation

Others
Operating
Income

FY13
2Q YTD
This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

1st Half Geographical Segments by Company Location
( ): Local Currency Base

(Unit: Billions of Yen)

1,300
900

1,278.0
+32.6%

1,200
800

Sales

[7.3%]

Operating Income

93.0
90
60

+5,357.7%
+29.4%
(+33.8%)

50

[9.6%]

963.5

40

500

+18.5%
(+23.3%)

30

355.0
-13.4%
298.0 (-2.8%) 299.7

20

+37.0%
(+38.3%)

400

[8.8%]

217.5
200

198.7
172.0

-8.0%
(+11.8%)

30.4
28.0

100

10

[2.0%]

[0.2%]

6.0

1.7

FY12 FY13
日本
2Q YTD 2Q YTD

北米

欧州

North
America Europe

豪亜

Asia &
Oceania

その他
Others

-39.4%
(-34.1%)

-1.7%
(+19.4%)

[1.7%] [1.2%]

[6.5%] [7.0%]

3.3 2.0

2.0 2.0

0

[-1.4%]

-3.0

-10

0

34.0

26.3

300

Japan

/ 11

[ ]: Ratio to Sales

70
100

1,100
700
1,000
600

9

FY12 FY13
日本
2Q YTD 2Q YTD

Japan

北米

欧州

North
America Europe

豪亜
Asia &
Oceania

その他
Others

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

FY2013 Financial Forecast

10

(Ratio to Sales)
FY2013
FY2013
Original
Original

Sales
Sales
Operating
Operating
Income
Income

Income
Income before
before
Income
Income Taxes
Taxes

Net
Net Income
Income

3,420.0
3,420.0

/ 11

(Unit: Billions of Yen)

FY2013
FY2013
Revised
Revised

3,480.0
3,480.0

FY2012
FY2012

Change
Change

3,154.6
3,154.6

+325.4
+325.4

+10.3%
+10.3%

(6.0%)

205.0
205.0

(7.2%)

250.0
250.0

(5.1%)

160.7
160.7

+89.3
+89.3

+55.5%
+55.5%

(6.3%)

215.0
215.0

(7.5%)

262.5
262.5

(5.2%)

163.5
163.5

+99.0
+99.0

+60.6%
+60.6%

(4.4%)

150.0
150.0

(4.9%)

172.0
172.0

(2.8%)

89.3
89.3

+82.7
+82.7

+92.6%
+92.6%

(Unit:Millions of Units)

Foreign
Foreign
Exchange
Exchange Rate
Rate
Domestic
Domestic Car
Car
Production
Production
Overseas
OverseasCar
CarProduction
Production
of
Japanese
of Japanese
Manufacturers
Manufacturers
(North
(NorthAmerica)
America)

JPY
JPY 80/$
80/$
JPY105/Euro
JPY105/Euro

JPY
JPY 80/$
80/$
JPY103/Euro
JPY103/Euro

JPY
JPY 79/$
79/$
JPY109/Euro
JPY109/Euro

++ JPY1
JPY1
-- JPY6
JPY6

9.28
9.28

9.56
9.56

8.89
8.89

+0.67
+0.67

+7.5%
+7.5%

16.41
16.41

16.47
16.47

14.65
14.65

+1.82
+1.82

+12.4%
+12.4%

(47.7)
(47.7)

(4.88)
(4.88)

(3.95)
(3.95)

(0.93)
(0.93)

(+23.5%)
(+23.5%)

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Change in FY2012 Operating Income

11

/ 11

(Unit: Billion of Yen)

+0.2

+16.5

Temporary
cost of
Others
earthquake
Variable
(Last year)
cost
reduction

+24.0

-25.0

Expense

160.7
Operating
Income

FY12

-15.0
Labor
cost

-6.4

-4.0

-4.0 +103.0

Depre Currency
-ciation exchange Raw
material Production
loss
cost volume
increase

250.0
Operating
Income

FY13F
This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Appendix

・ Non-Consolidated Financial Results
・ Pre-Conditions (Foreign Exchange Rate/Car Production)
・ Consolidated Sales by Customer
・ Consolidated Sales by Business Segment
・ Capital Expenditures, Depreciation and R&D

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Non-Consolidated Financial Results

Income Statements
(Ratio to Sales)

Account
Net Sales
Cost of Sales
SGA Expenses
Operating Income
Non-Operating Income
Extraordinary Income (Loss)
Income Before Income Taxes
Net Income

(Unit:Billions of Yen,%)

FY2012 1Q

FY2013 1Q
(
(
(
(

(
(

100.0
87.4
5.4
7.2

)
)
)
)

10.5 )
6.7 )

577.5
504.7
31.3
41.6
18.4
0.5
60.4
38.7

(
(
(
(

(
(

100.0
98.0
7.5
-5.5

)
)
)
)

-1.8 )
0.4 )

364.5
357.2
27.4
-20.2
13.8
-0.0
-6.4
1.6

Change
FY2013 2Q YTD Forecast
Forecast as of Jul. 31
Amount
Percent
213.0
58.4 ( 100.0 )
1,160.0
147.4
3.8
5.9 )
68.0
61.8
- (
4.6
35.0
0.5
0.5
8.9 )
103.5
66.9
- (
37.1 2,281.5 (
6.2 )
72.0

FY2013 Forecast
Forecast as of Jul. 31

( 100.0 )

(

5.1 )

(
(

7.4 )
5.2 )

2,293.0

118.0
52.0
0.5
170.5
120.0

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Pre-Conditions (Foreign Exchange Rate/Car Production)

FY2013 Full Year
FY2013 First-Half
Prior
Year
Foreign Exchange
Rate (Yen)
Forex Impact on
Operating Income
per Yen
(Billions of Yen)

Car Production of
Japanese
Manufacturers
(Millions of Units)

Actual

Change Prior Year

FY2013 Second-Half

Forecast Revised
(Original) Forecast

Change Prior Year

Forecast Revised
(Original) Forecast

Change Prior Year

Forecast
(Original)

Revised
Forecast

Change

USD

82

80

-2

80

80

80

-

78

80

80

+2

79

80

80

+1

EUR

117

103

- 14

114

105

101

- 13

104

105

105

+1

109

105

103

-6

USD

2.9

2.9

2.9

-

EUR

0.7

0.7

0.7

-

Domestic

1.46

2.40

+ 64%

3.73

4.54

4.82

+ 29%

5.16

4.74

4.74

- 8%

8.89

9.28

9.56

+ 8%

North
America

0.67

1.31

+ 96%

1.56

2.37

2.48

+ 59%

2.39

2.40

2.40

+ 0%

3.95

4.77

4.88

+ 24%

Overseas

2.85

4.16

+ 46%

6.79

8.06

8.11

+ 19%

7.87

8.36

8.36

+ 6%

14.65

16.41

16.47

+ 12%

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Consolidated Sales by Customer
(Unit: Billion of Yen)

Toyota
Daihatsu
Hino
Toyota Group
Honda
GM
Hyundai/Kia
Suzuki
Fuji
Fiat
Chrysler
Mazda
Ford
VW/AUDI
Isuzu
Mitsubishi
Nissan
BMW
Benz
Jaguar/Land Rover
PSA
OE Sales for others
OEM Total
After-market,
New business & Others(*)
Total

FY2013
Ended June 30, 2012
Amount % to Total
48.4
427.2
3.0
26.6
1.5
12.6
52.9
466.4
6.9
61.0
2.5
22.3
2.4
20.9
2.3
20.0
2.0
18.0
2.0
17.8
1.8
15.9
1.8
15.8
1.7
15.3
1.6
14.3
1.3
11.9
1.1
9.9
1.1
9.3
0.8
6.7
0.6
5.5
0.4
3.6
0.4
3.3
6.7
59.1
90.3
797.0

FY2012
Change
Ended June 30, 2011
Amount % to Total Amount Percent
226.3
36.0
200.8
88.7
17.8
2.8
8.7
48.9
9.1
1.4
3.5
38.8
253.3
40.2
213.1
84.1
34.8
5.5
26.2
75.2
21.2
3.4
1.2
5.5
19.1
3.0
1.7
9.0
17.6
2.8
2.4
13.9
9.6
1.5
8.5
88.7
25.0
4.0
-7.2
-28.9
13.7
2.2
2.2
16.3
10.7
1.7
5.1
48.0
18.3
2.9
-3.1
-16.7
14.7
2.3
-0.3
-2.2
10.0
1.6
1.9
18.5
11.4
1.8
-1.5
-13.0
7.3
1.2
2.0
27.5
7.5
1.2
-0.8
-10.0
5.1
0.8
0.4
7.6
7.9
1.2
-4.2
-53.7
5.0
0.8
-1.7
-34.3
52.9
8.4
6.2
11.8
545.0
86.5
252.0
46.2

85.4

9.7

85.2

13.5

0.2

0.2

882.4

100.0

630.2

100.0

252.2

40.0

* Sales of industrial systems and consumer products, Sales for After Market, and Sales of property/equipment are included.

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Consolidated Sales by Business Segment
(Unit: Billion of Yen)

Powertrain Control
Electronic
Thermal
Information & Safety Systems
Small Motors
Others(*)
Automotive Total
Industrial & Consumer Product
Others
New Business Total
Total

FY2013
Ended June 30, 2012
% to Total
Amount
300.6
34.1
82.7
9.4
258.3
29.3
149.5
16.9
64.7
7.3
12.3
1.4
868.1
9 8.4
10.3
1.2
4.0
0.4
14.3
1.6
882.4
100.0

FY2012
Ended June 30, 2011
% to Total
Amount
219.9
34.9
48.9
7.8
200.9
31.9
93.4
14.8
42.3
6.7
10.4
1.7
6 15.9
97.8
11.0
1.7
3.4
0.5
14.3
2.2
630.2
100.0

Change
Amount
80.6
33.8
57.4
56.1
22.4
1.9
2 52.3
-0.7
0.6
-0.1
2 52.2

Percent
36.7
69.1
28.6
60.1
52.9
18.2
41.0
-6.3
18.3
-0.5
40.0

* Repair parts, original brand products of subsidiaries

This information is the exclusive property of DENSO CORPORATION. Without their consent, it may not be reproduced or given to third parties.

Capital Expenditures, Depreciation and R&D
(Unit: Billion of Yen)

1QYTD
Japan
North America
Europe
Asia & Oceania
Others
Capital Exp.
Japan
North America
Europe
Asia & Oceania
Others
Depreciation
R&D Expenditure
(Ratio to Sales)

FY13
FY12
1QYTD Estimate

24.1 103.1
28.5
2.6
12.2
3.2
4.5
18.7
4.4
10.3
38.2
10.9
1.7
7.2
0.7
43.2 179.4
47.8
28.4 134.4
28.7
4.0
14.6
3.5
3.2
11.1
2.6
4.9
18.5
4.8
0.5
2.1
0.5
41.0 180.6
40.0
71.4 298.4
77.5
(11.3%) (9.5%) (8.8%)

117.0
13.0
19.0
51.0
9.0
209.0
135.0
16.0
11.5
22.0
2.5
187.0
310.0
(8.9%)

1Q YTD
Change
from PY

Progress
to FY13
Estimate

18.3%
23.1%
-2.2%
5.8%
-58.8%
10.6%
1.1%
-12.5%
-18.8%
-2.0%
0.0%
-2.4%

24.4%
24.6%
23.2%
21.4%
7.8%
22.9%
21.3%
21.9%
22.6%
21.8%
20.0%
21.4%

8.5%

25.0%

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