DensoDENSO CORPORATION6902東証プライム輸送用機器FY ending Mar 2026, consolidated, IFRS

Denso FY ending Mar 2026 results

About 41% of Denso's sales come from Japan, with North America and Asia making up much of the rest.

Out of every ¥100 of sales, about ¥7 is left as operating profit.

Revenue changed +5.3% from the prior year, operating profit +6.5%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +5.3% · profit +6.5%, calculated from disclosed figures.

Operating leverage: 1.23× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +5.3%¥7.16T → ¥7.54T
Gross profit: +6.1%¥1.1T → ¥1.17T
Operating income: +6.5%¥519B → ¥552.5B
Net income attributable to owners: +5.9%¥419.1B → ¥443.8B
Operating cash flow: -32.6%¥758.7B → ¥511B
Free cash flow: -75.5%¥313.3B → ¥76.8B

Results at a glance

Revenue for the FY ending Mar 2026 was ¥7.54T, up +5.3% from ¥7.16T.
Profit grew too: operating income reached ¥552.5B (+6.5%) and net income attributable to owners reached ¥443.8B (+5.9%).
Cash was a different story. Operating cash flow fell -32.6% from ¥758.7B to ¥511B, leaving free cash flow at ¥76.8B (-75.5%).

What drove the change

Higher vehicle sales lifted revenue
US tariffs, rising material costs and more spending on people weighed on profit, but cost-cutting and better factory utilization more than made up for them
Operating cash flow fell because the change in trade payables was smaller than a year earlier and income tax payments rose

Things to watch

About half of sales go to the Toyota group, so results depend heavily on how those customers do
Price competition is tough, and inflation and US tariffs are pushing costs up
A stronger yen, especially against the US dollar, euro and yuan, hurts results

Annual securities report, 103rd fiscal year (Apr 2025 – Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual securities report, 103rd fiscal year (Apr 2025 – Mar 2026) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Denso sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥85
SG&A: ¥8
Operating profit: ¥7
Net profit kept: ¥6

Annual margin trends

Gross margin15.5%

Operating margin7.3%

Net margin5.9%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Japan¥3.09T
41%
Op. margin 6.0%Industry: Auto Parts
North America¥2.01T
27%
Op. margin 6.6%Industry: Auto Parts
Asia¥1.62T
22%
Op. margin 11.0%Industry: Auto Parts
Europe¥691.5B
9%
Op. margin 4.0%Industry: Auto Parts
Other¥126B
2%
Op. margin 19.7%Industry: Auto Parts

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第103期(2025/04/01－2026/03/31)
ID S100Y9T12026-06-11Open
EDINET (FSA Japan)
有価証券報告書－第102期(2024/04/01－2025/03/31)
ID S100VWHL2025-06-11Open
EDINET (FSA Japan)
有価証券報告書－第101期(2023/04/01－2024/03/31)
ID S100TLQW2024-06-20Open
EDINET (FSA Japan)
有価証券報告書－第100期(2022/04/01－2023/03/31)
ID S100QXX32023-06-20Open
EDINET (FSA Japan)
有価証券報告書－第99期(令和3年4月1日－令和4年3月31日)
ID S100O98N2022-06-21Open
EDINET (FSA Japan)
有価証券報告書－第98期(令和2年4月1日－令和3年3月31日)
ID S100LJ9G2021-06-22Open

Extracted from XBRL: 44 / Derived from other figures: 1

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