NAGOYA, Japan -- Brisk autoparts sales in China and corporate tax cuts in the U.S. have prompted five major Toyota Motor group companies to upgrade their net profit forecasts for the year ending in March.
Denso on Friday raised its net profit guidance by 6 billion yen ($54.4 million) to 306 billion yen when announcing April-December results. Sales are now expected to reach 5.03 trillion yen, up 30 billion yen from its earlier projection. Sensors, cameras and other products used in advanced driver-assist systems for autonomous vehicles have sold well. And air conditioning systems enjoyed strong demand from Chinese automakers.
