KARIYA, Japan, Feb. 3, 2015 /PRNewswire/ -- DENSO Corp. today
announced that it plans to voluntarily adopt the International
Financial Reporting Standards (IFRS). The first document to use
IFRS, in place of Japanese accounting standards, will be the
consolidated financial statements in DENSO's Annual Securities
report for the fiscal year ending March 31,
2015.
DENSO chose to adopt the IFRS as a global standard to accelerate
speedy management by unification of accounting standards in group
companies, and to enable stakeholders to more conveniently compare
the financial information of DENSO and other companies in capital
market.
Japanese accounting standards will continue to be applied to the
summary of consolidated financial results for the fiscal year
ending March 31, 2015, as well as the
consolidated financial statements constructed in accordance with
the Companies Act of Japan for the
same period.
< Tentative schedule for shift to disclosure based on
IFRS>
|
April 2015
|
Summary of
consolidated financial results for the fiscal year ending March 31,
2015.
-Consolidated
operating results for the fiscal year ending March 31,
2015
-Consolidated
performance forecasts for the fiscal year ending March 31,
2016
|
-Japanese accounting
standards
-IFRS
|
|
June 2015
|
Consolidated
financial statements for the fiscal year ending March 31, 2015,
constructed in accordance with the Companies Act.
|
-Japanese accounting
standards
|
|
Annual securities
report for the fiscal year ending March 31, 2015
|
-IFRS
|
About DENSO:
DENSO Corp., headquartered in Kariya, Aichi prefecture,
Japan, is a leading global
automotive supplier of advanced technology, systems and components
in the areas of thermal, powertrain control, electronics and
information and safety. Its customers include all the world's major
carmakers. Worldwide, the company has more than 200 subsidiaries
and affiliates in 38 countries and regions and employs nearly
140,000 people. Consolidated global sales for the fiscal year
ending March 31, 2014, totaled
US$39.8 billion. Last fiscal year,
DENSO spent 9.0 percent of its global consolidated sales on
research and development. DENSO common stock is traded on the
Tokyo and Nagoya stock exchanges. For more information,
go to www.globaldenso.com, or visit our media website at
www.densomediacenter.com.
About DENSO in North
America:
Currently, in North America,
DENSO employs more than 17,000 people at 33 consolidated companies
and affiliates. Of these, 28 are manufacturing facilities located
in the U.S., Canada and
Mexico. In the U.S. alone, DENSO
employs more than 14,000 people in California, Alabama, Michigan, North
Carolina, South Carolina,
Tennessee, Kentucky, Georgia, Iowa, Ohio,
Arkansas, and Pennsylvania. DENSO's North American
consolidated sales totaling US$7.9
billion for the fiscal year ending March 31, 2014.
(Notes)
The above forecasts are created based on the
information obtained by the date of this announcement and the
actual results may differ due to various causes in the future.
U.S. dollar amounts have been translated, for convenience only, at
the rate of 109.45 yen = US$1, the approximate exchange rate prevailing in
the Tokyo Foreign Exchange Market on September 30, 2014. Billion is used in the
American sense of one thousand million.
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SOURCE DENSO Corp.