© Reuters. A general view of Denso’s headquarters in the city of Kariya in central Japan January 2020. Denso Corporation/Handout via REUTERS/File Photo
TOKYO (Reuters) – Japan’s Denso, a leading supplier to Toyota (NYSE:), posted a 76% fall in third-quarter operating profit on Friday, missing analysts’ estimates, and slashed its earnings forecasts for the full year.
Operating profit for the three months to end-December totalled 26.8 billion yen ($183.06 million), versus 177.1 billion yen estimated on average by eight analysts surveyed by LSEG.
A year earlier, the company earned 112.5 billion yen in profit.
($1 = 146.4000 yen)