Investing in Japan: Toyota group announces financial results online

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DENSO Corporation


Toyota group’s major eight companies will announce financial results in fiscal 2020 through internet broadcasting on April 30. 

 In advance of the internet broadcasting, Denso, one of the major eight and the world's second largest mobility supplier, announced on April 24 that it has lowered its full-year consolidated net income forecast for the fiscal year ending March 31, from ¥ 225 billion to ¥ 68 billion. 

 Profit decreased significantly by 70% from the previous year. In addition to the largest recall cost for automobile parts, suspending operations at overseas plants due to the new coronavirus outbreak hit the profit. 

 Sales forecast has been lowered from 5,260 billion yen to 5,150 billion yen, and operating income has been lowered from 280 billion yen to 61 billion yen. 
Toyota group announces financial results online

 In order to contain the infection, countries such as China, India, Italy, Mexico, and Argentina announced restrictions on social activities, and productions in those countries were halted. 

 In Japan as well, declining global demand for automobiles has led to a sequel of factory shutdowns by finished vehicle manufacturers. Those domestic effects are expected to surface in the next fiscal term.



Toyota to support COVID-19 containment


To cope with spreading infections, Toyota Motor Co., Ltd. announced on April 7 that group companies including Denso will begin production of medical protective masks. 
Toyota group announces financial results online

 DENSO will manufacture thousands of medical protective masks at its US subsidiary, Denso Manufacturing Tennessee, and provide them to local medical institutions. The company also plan to produce 100,000 masks per day, which is required at their own plants.


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