09 09-12 denso results-q1-2

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FY201FY20133 11stst Quarter Financial Quarter Financial Results ended June 30, 2012Results ended June 30, 2012

JulyJuly 331, 2011, 20122


Overview of FY2013 1st Quarter Financial Results

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

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

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

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

1 / 11


FY2013 1st Quarter Financial Results

ChangeChangeFY13 1QFY13 1Q

SalesSales +252.2+252.2882.4882.4 +40.0%+40.0%Operating IncomeOperating Income +82.5+82.578.278.2 --

Income before Income TaxesIncome before Income Taxes +82.7+82.785.185.1 +3,310.0%+3,310.0%

Net IncomeNet Income +46.5+46.549.149.1 +1,801.7%+1,801.7%

Foreign Exchange RateForeign Exchange Rate

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

Domestic Car Production Domestic Car Production 2.402.40

Overseas Car Production of Japanese Manufacturers(North America)


4.16(1.31)4.16(1.31)

- JPY 2- JPY14- JPY 2- JPY14

+64.4%+64.4%+0.94+0.94

+46.0%(+95.5%)

+46.0%(+95.5%)

+1.31(+0.64)

+1.31(+0.64)

(8.9%)

(5.6%)

(Ratio to Sales)

FY12 1QFY12 1Q

(9.6%)

(Unit: Billions of Yen)

630.2630.2

-4.4-4.4

2.52.5

2.62.6


1.461.46

2.85(0.67)2.85(0.67)

(-0.7%)

(0.4%)

(0.4%)

2 / 11

(Unit: Millions of Units)


Change in 1st Quarter Consolidated Sales

9.7%

37.4% 52.9%

13.5%

40.2%

46.3%

OE Sales for othersOE Sales for others ( ):Change from FY12 1Q

Toyota Group

OESalesfor

others

After-market,New business&Others

By Customer (Unit: Billions of Yen)

466.4330.6

85.4

882.4

FY12 1Q

630.2 253.3291.7

85.2

After-market,New business&Others

OESalesfor

others

Toyota GroupFY13 1Q

34.861.0

25.0

21.2

22.319.1

20.9

15.314.7

14.313.7

15.99 .915.8

17.8

18.3

17.6

20.0

11.410.7

117.4

105.2

0

50

100

150

200

250

300

'11/6 '12/6

(+75.2%)

(+13.9%)

(+5.5%)

(-28.9%)

330.6

(-16.7%)

(-13.0%)

(+9.0%)

(+11.6%)

(+48.0%)

(+16.3%)(-2.2%)

Others

Mitsubishi

Hyundai/Kia

Ford

Suzuki

Fiat

ＧＭ

Honda

Maｚda

ChryslerVW・AUDI

FY12 1Q FY13 1Q

300

350

3 / 11

291.7


Change in 1st Quarter Consolidated Sales

By Business Segment(Unit: Billions of Yen)

( ):Change from FY12 1Q

FY12 1Q FY13 1Q

4 / 11

219.9300.6

258.3

149.5

48.9

82.7

42.3

64.7

200.9

93.4

24.8

26.6

0

200

400

600

800

1,000 882.4

(+ 28.6%)

(+ 60.1%)

(+ 36.7%)

(+ 69.1%)

(+ 52.9%)

(+ 7.3%)

Thermal

Information & Safety Systems

ElectronicSmall MotorsOthers

PowertrainControl

630.2

＊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.


Change in 1st Quarter Operating Income

FY13 1QFY12 1Q

Currency exchange

loss

合理化

Operating loss Operating

Income

Expense

Labor cost

Raw material

cost

Others

Variable cost

reduction

(Unit: Billion of Yen)

Depre-ciation

5 / 11

-4.4-6.0

-3.0

+75.0

+2.0+11.8+2.7+1.0

+7.0

78.2

Temporarycost of

earthquake(Last year)

Production volume increase

-8.0


1st Quarter Geographical Segments by Company Location

101.1

159.6 147.3108.6

15.8

398.8

175.3

14.0

93.5

620.9

0

50

100

150

200

250

300

350

400

450

500

550

日本北米欧州豪亜その他

-2.5

1.5

13.3

3.2

-24.4

55.1

17.0

1.8

5.2

1.0

-15

-10

-5

0

5

10

15

20

25

30

35

40


500

550

600

650 SalesSales Operating IncomeOperating Income(Unit: Billions of Yen)

EuropeJapan

FY12 FY131Q 1Q North

AmericaAsia & Oceania Others

EuropeJapan

FY12 FY131Q 1Q North


[8.9%]

[3.3%][2.9%]

[9.0%]

[9.7%]

[ ]: Ratio to Sales

6 / 11

+57.8%（+61.8%）

+55.7%

-13.9%（-2.1%）

-11.4％（+9.3％）

+19.1%（+24.8%）

[1.9%]

[-6.1%]

[-2.5%]

-42.8%（-36.0%）

-35.8%（-19.0%）

+27.7%（+33.4%）

[9.7%]

[7.0%]

60

50

55

-20

-25

( ): Local Currency Basis

450

400


FY2013 1st Half Financial Forecast

8.11（2.48）

8.11（2.48）

+19.4%（+59.0%）

+19.4%（+59.0%）

+1.32（+0.92）

+1.32（+0.92）

1,740.01,740.0

135.0135.0

142.5142.5

88.088.0


-- JPY13

-- JPY13

+29.2%+29.2%+1.09+1.094.824.82

(7.8%)

(5.1%)

1,680.01,680.0

90.090.0

95.095.0

66.066.0


4.544.54

(5.4%)

(3.9%)

8.06（2.37）

8.06（2.37）

+330.9+330.9

+103.1+103.1

+103.2+103.2

+64.7+64.7

+23.5%+23.5%

+323.7%+323.7%

+262.4%+262.4%

+277.9%+277.9%


(Unit:Millions of Units)

ChangeChangeFY13 2Q YTD Revised

FY13 2Q YTD Revised

(Ratio to Sales)

FY13 2Q YTD Original

SalesSales

Operating IncomeOperating IncomeIncome before Income TaxesIncome before Income Taxes

Net IncomeNet Income


Domestic Car ProductionDomestic Car Production



(5.7%) (8.2%)

6.79（1.56）

6.79（1.56）

1,409.11,409.1

31.931.9

39.339.3

23.323.3


(2.3%)

(1.7%)

FY12 2Q YTDFY12 2Q YTD

(2.8%)

7 / 11

3.733.73


Change in Change in 1st Half Operating IncomeHalf Operating Income

31.9-3.1

-19.7

-6.3

+1.0

Operating Income

Currency exchange

loss

Expense

Labor cost

Raw material

cost

Others

Variable cost

reduction

Depre-ciation

FY132Q YTD

8 / 11

+107.0

+15.0+1.4

+14.0

135.0-6.2

Productionvolume

increaseTemporary

cost of earthquake(Last year)

Operating Income


Other

FY122Q YTD


1st Half Geographical Segments by Company Location

217.5

30.4

299.7

198.7

963.5

355.0

298.0

28.0

1,278.0

172.0

0

100

200

300

400

500

600

700

800

900


2.0

26.3

3.3

-3.0

1.7 2.06.0

93.0

2.0

34.0

-10

0

10

20

30

40

50

60

70


1,200

1,300

SalesSales Operating IncomeOperating Income

EuropeJapan

FY12 FY132Q YTD 2Q YTD North


( ): Local Currency Base(Unit: Billions of Yen)

EuropeJapan

FY12 FY132Q YTD 2Q YTD North


[7.3%]

[8.8%]

[6.5%][1.7%]

[ ]: Ratio to Sales

9 / 11

+37.0%（+38.3%）

+32.6%

-13.4%（-2.8%）

-8.0％（+11.8％）

+18.5%（+23.3%）

[-1.4%]

[2.0%][1.2%]

[9.6%]

[7.0%]

-39.4%（-34.1%）

+29.4%（+33.8%）

-1.7%（+19.4%）

1,100

1,000

[0.2%]

+5,357.7%90

100


FY2013 Financial Forecast

16.47（4.88）

16.47（4.88）

+12.4%（+23.5%）

+12.4%（+23.5%）

+1.82（0.93）

+1.82（0.93）

3,480.03,480.0

250.0250.0

262.5262.5

172.0172.0


+ JPY1- JPY6

+ JPY1- JPY6

+7.5%+7.5%+0.67+0.679.569.56

(7.2%)

(4.9%)

3,420.03,420.0

205.0205.0

215.0215.0

150.0150.0


9.289.28

(6.0%)

(4.4%)

16.41(47.7)

16.41(47.7)

+325.4+325.4

+89.3+89.3

+99.0+99.0

+82.7+82.7

+10.3%+10.3%

+55.5%+55.5%

+60.6%+60.6%

+92.6%+92.6%


(Unit:Millions of Units)

ChangeChangeFY2013 RevisedFY2013 Revised

(Ratio to Sales)

FY2013 OriginalFY2013 Original

SalesSales

Operating IncomeOperating IncomeIncome before Income TaxesIncome before Income Taxes

Net IncomeNet Income


Domestic Car ProductionDomestic Car Production



(6.3%) (7.5%)

FY2012FY2012

3,154.63,154.6

160.7160.7

163.5163.5

89.389.3


8.898.89

14.65(3.95)

14.65(3.95)

(5.1%)

(2.8%)

(5.2%)

10 / 11


Change in FY2012 Operating IncomeChange in FY2012 Operating Income

160.7

-25.0

Operating Income

Currency exchange

loss

ExpenseLabor cost Raw

material cost

OthersVariable

cost reduction

Depre-ciation

FY13FFY12

11 / 11

Productionvolume

increase

Temporarycost of

earthquake(Last year)

Operating Income

-15.0 -6.4 -4.0 -4.0 +103.0

+24.0+0.2

+16.5

250.0




AppendixAppendix

･ 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


Non-Consolidated Financial Results

Income Statements(Ratio to Sales) (Unit:Billions of Yen,%)

Amount PercentNet Sales ( 100.0 ) 577.5 ( 100.0 ) 364.5 213.0 58.4 ( 100.0 ) 1,160.0 ( 100.0 ) 2,293.0Cost of Sales ( 87.4 ) 504.7 ( 98.0 ) 357.2 147.4SGA Expenses ( 5.4 ) 31.3 ( 7.5 ) 27.4 3.8Operating Income ( 7.2 ) 41.6 ( -5.5 ) -20.2 61.8 － ( 5.9 ) 68.0 ( 5.1 ) 118.0Non-Operating Income 18.4 13.8 4.6 35.0 52.0Extraordinary Income (Loss) 0.5 -0.0 0.5 0.5 0.5Income Before Income Taxes ( 10.5 ) 60.4 ( -1.8 ) -6.4 66.9 － ( 8.9 ) 103.5 ( 7.4 ) 170.5Net Income ( 6.7 ) 38.7 ( 0.4 ) 1.6 37.1 2,281.5 ( 6.2 ) 72.0 ( 5.2 ) 120.0

Forecast as of Jul. 31 Forecast as of Jul. 31FY2013 2Q YTD Forecast FY2013 ForecastAccount FY2013 1Q FY2012 1Q Change


Pre-Conditions (Foreign Exchange Rate/Car Production)

PriorYear Actual Change Prior Year Forecast

(Original)RevisedForecast Change Prior Year Forecast

(Original)RevisedForecast Change Prior Year Forecast

(Original)RevisedForecast Change

82 80 - 2 80 80 80 - 78 80 80 + 2 79 80 80 + 1

117 103 - 14 114 105 101 - 13 104 105 105 + 1 109 105 103 - 6

2.9 2.9 2.9 -

0.7 0.7 0.7 -

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%

NorthAmerica 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%

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%

Car Production ofJapanese

Manufacturers(Millions of Units)

Domestic

Overseas

Foreign ExchangeRate (Yen)

USD

EUR

Forex Impact onOperating Income

per Yen(Billions of Yen)

USD

EUR

FY2013 Second-HalfFY2013 First-HalfFY2013 Full Year


Consolidated Sales by Customer


Amount % to Total Amount % to Total Amount PercentToyota 427.2 48.4 226.3 36.0 200.8 88.7

Daihatsu 26.6 3.0 17.8 2.8 8.7 48.9

Hino 12.6 1.5 9.1 1.4 3.5 38.8

Toyota Group 466.4 52.9 253.3 40.2 213.1 84.1

Honda 61.0 6.9 34.8 5.5 26.2 75.2

GM 22.3 2.5 21.2 3.4 1.2 5.5

Hyundai/Kia 20.9 2.4 19.1 3.0 1.7 9.0

Suzuki 20.0 2.3 17.6 2.8 2.4 13.9

Fuji 18.0 2.0 9.6 1.5 8.5 88.7

Fiat 17.8 2.0 25.0 4.0 -7.2 -28.9

Chrysler 15.9 1.8 13.7 2.2 2.2 16.3

Mazda 15.8 1.8 10.7 1.7 5.1 48.0

Ford 15.3 1.7 18.3 2.9 -3.1 -16.7

VW/AUDI 14.3 1.6 14.7 2.3 -0.3 -2.2

Isuzu 11.9 1.3 10.0 1.6 1.9 18.5

Mitsubishi 9.9 1.1 11.4 1.8 -1.5 -13.0

Nissan 9.3 1.1 7.3 1.2 2.0 27.5

BMW 6.7 0.8 7.5 1.2 -0.8 -10.0

Benz 5.5 0.6 5.1 0.8 0.4 7.6

Jaguar/Land Rover 3.6 0.4 7.9 1.2 -4.2 -53.7

PSA 3.3 0.4 5.0 0.8 -1.7 -34.3

OE Sales for others 59.1 6.7 52.9 8.4 6.2 11.8OEM Total 797.0 90.3 545.0 86.5 252.0 46.2

85.4 9.7 85.2 13.5 0.2 0.2

Total 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.

After-market,New business & Others(*)

FY2013 FY2012ChangeEnded June 30, 2012 Ended June 30, 2011


Consolidated Sales by Business Segment


Amount % to Total Amount % to Total Amount PercentPowertrain Control 300.6 34.1 219.9 34.9 80.6 36.7

Electronic 82.7 9.4 48.9 7.8 33.8 69.1

Thermal 258.3 29.3 200.9 31.9 57.4 28.6

Information & Safety Systems 149.5 16.9 93.4 14.8 56.1 60.1

Small Motors 64.7 7.3 42.3 6.7 22.4 52.9

Others(*) 12.3 1.4 10.4 1.7 1.9 18.2

Automotive Total 868.1 98.4 615.9 97.8 252.3 41.0

Industrial & Consumer Product 10.3 1.2 11.0 1.7 -0.7 -6.3

Others 4.0 0.4 3.4 0.5 0.6 18.3

New Business Total 14.3 1.6 14.3 2.2 -0.1 -0.5

Total 882.4 100.0 630.2 100.0 252.2 40.0

* Repair parts, original brand products of subsidiaries

FY2013 FY2012Change

Ended June 30, 2012 Ended June 30, 2011


Capital Expenditures, Depreciation and R&D


1QYTD 1QYTDJapan 24.1 103.1 28.5 117.0 18.3% 24.4%North America 2.6 12.2 3.2 13.0 23.1% 24.6%Europe 4.5 18.7 4.4 19.0 -2.2% 23.2%Asia & Oceania 10.3 38.2 10.9 51.0 5.8% 21.4%Others 1.7 7.2 0.7 9.0 -58.8% 7.8%

Capital Exp. 43.2 179.4 47.8 209.0 10.6% 22.9%Japan 28.4 134.4 28.7 135.0 1.1% 21.3%North America 4.0 14.6 3.5 16.0 -12.5% 21.9%Europe 3.2 11.1 2.6 11.5 -18.8% 22.6%Asia & Oceania 4.9 18.5 4.8 22.0 -2.0% 21.8%Others 0.5 2.1 0.5 2.5 0.0% 20.0%

Depreciation 41.0 180.6 40.0 187.0 -2.4% 21.4%71.4 298.4 77.5 310.0

(11.3%) (9.5%) (8.8%) (8.9%)

FY13Estimate

R&D Expenditure(Ratio to Sales) 25.0%

FY121Q YTDChangefrom PY

8.5%

Progressto FY13Estimate

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09 09-12 denso results-q1-2