DENSO Corporation (DNZOF)
- Reuters
Denso cuts full-year operating profit forecast by 3.1%
TOKYO (Reuters) -Japan's Denso, a leading supplier to Toyota, reduced its full-year operating profit forecast by 3.1% on Wednesday after reporting first-quarter profit that was largely in line with analysts' expectations. The company lowered its operating profit forecast for the financial year to March 31 to 692 billion yen ($4.53 billion) from 714 billion yen, missing the average estimate of 709.9 billion yen, according to 17 analysts surveyed by LSEG. The cut only reflected Denso's first-quarter result, which was lower than the company had expected, it said in a statement.
- Zacks
New Strong Sell Stocks for June 26th
AMN, ALNT and DNZOY have been added to the Zacks Rank #5 (Strong Sell) List on June 26, 2024.
- Reuters
Toyota Group suppliers Denso, Aisin scale back cross-shareholdings, filing shows
Two of Toyota's top suppliers, Denso and Aisin, have sold off holdings in several Toyota-affiliated companies, regulatory filings showed on Thursday, in the latest reduction of cross-shareholding across the sprawling automotive group. Denso, one of the world's largest makers of automotive components, had sold off its stakes in Toyota Group companies Toyota Boshoku Toyota Tsusho, Toyoda Gosei and Hino Motors, among others, as of the financial year that ended in March, a filing showed. Aisin had also reduced its stakes in those companies to zero, as well as sold off its Denso stake, according to a separate filing.
