PSA Capital Goods: FY24 Q2 Results for Auto Part Makers Denso, Aisin
Tags: Denso (6902 JT), Toyota Motor (7203 JT), Subaru (7270 JT), Volvo (VOLVB SS), Suzuki Motor (7269 JT), Daihatsu (unlisted), Stellantis (STLA US), Aisin (7259 JT)Results of two automakers were released during market hours on 31 oct. Weak OEM producton led Denso to revise down its full-year FY24 OP guiance by -20.5%. However, the firm also announced a large share buyback program which seemed to offset the weak earnings and led to the shares closing up on a down day in the market. Meanwhile, at Aisin, the Q2 performance was also grim and it looks likely that the firm will not be able to achieve its full-guidance unless OEM production recovers. With no other good news, the shares were sold down -5%.
Denso and its affiliates are mainly engaged in the manufacture and sale of automobile electronic, electrical parts, and other components. Co.'s principal business segments are powertrain control systems, electronic systems, thermal systems, information and safety systems, small motors, industrial systems and consumer products. Co.'s principal products include starters, alternators, engine management systems, components for gasoline, diesel and electric hybrid vehicles, engine ECUs, hybrid ICs, air conditioners, radiators, remote keyless entry controllers, car navigation systems, car-mounted ETC devices, motors, bar code handy scanners and industrial robots.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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