Toyota supplier Denso posts sharp jump in fourth-quarter profit

NAGOYA, Japan, April 28 : Japan’s Denso,a major auto parts supplier to Toyota, posted a 50 per cent rise in fourth-quarter operating profit on Tuesday, as higher production volumes helped offset an increase in tariff, parts and material costs.

Operating profit for the three months ended March totalled 176.6 billion yen ($1.11 billion), versus a median forecast of 171.3 billion yen in poll of eight analysts surveyed by LSEG.

A year earlier, the company had posted an operating profit of 117.4 billion yen.

($1 = 159.5100 yen)