Toyota supplier Denso posts 76% drop in Q3 profit

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Written By Pinang Driod

© Reuters. A general view of Denso’s headquarters in the city of Kariya in central Japan January 2020. Denso Corporation/Handout via REUTERS/File Photo

TOKYO (Reuters) – Japan’s Denso, a leading supplier to Toyota (NYSE:), posted a 76% fall in third-quarter operating profit on Friday, missing analysts’ estimates, and slashed its earnings forecasts for the full year.

Operating profit for the three months to end-December totalled 26.8 billion yen ($183.06 million), versus 177.1 billion yen estimated on average by eight analysts surveyed by LSEG.

A year earlier, the company earned 112.5 billion yen in profit.

($1 = 146.4000 yen)

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