TOKYO - Denso Corp. said its worldwide operating income rose 20 percent to a record ¥159.9 billion yen, or $1.3 billion at current exchange rates, on a 3 percent drop in revenue in the fiscal year that ended March 31.
Net income jumped 53.5 percent to a record $925 million, boosted by a change in the giant parts supplier's pension program.
All year-earlier comparisons were distorted by an irregular 15-month year. Adjusted for that discrepancy, Denso's operating profit rose 23 percent, revenue rose 7 percent and net rose 57 percent.
Operating income in the Americas surged an adjusted 76 percent to $235 million.