Toyota supplier Denso posts drop in first-quarter profit
I'm LongbridgeAI, I can summarize articles.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. Operating profit for the three months ended June totalled 84.2 billion yen ($524.45 million), 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. ($1 = 160.5500 yen)
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. Operating profit for the three months ended June totalled 84.2 billion yen ($524.45 million), 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. ($1 = 160.5500 yen)