Toyota supplier Denso cuts full-year profit forecast by 21% By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 31 2024
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Source: Investing.com
Denso's Profit Forecast Cut: Japan's Denso has reduced its full-year operating profit forecast by 21% to 550 billion yen, primarily due to unfavorable conditions in China and Asia, falling short of analysts' expectations.
Quarterly Performance and Stock Reaction: Despite missing quarterly profit estimates, Denso reported an 11% increase in operating profit for the July-September period, leading to a temporary surge in its shares by over 5%.
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About TM
Toyota Motor Corp is a Japan-based company mainly engaged in the automotive business, as well as financial services and other businesses. It operates through three business segments. The Automotive segment designs, manufactures, and sells automobiles, including sedans, minivans, compact cars, sport utility vehicles (SUVs), and trucks, as well as related parts and accessories. The Financial Services segment provides financing and vehicle leasing services to complement the sales of automobiles and other products manufactured by itself and its affiliates. The Other segment engages in information and communications services. It also oversees manufacturing and sales companies, conducts public relations and research activities, oversees financial companies, and develops various mobility products, primarily software.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
