Japan’s Denso to target $8 billion in electrification revenue by FY 2025

TOKYO (Reuters) – Japanese automotive supplier Denso aims to increase its revenue in electrification to 1.2 trillion yen ($7.97 billion) by the 2025 business year and 1.7 trillion yen by the turn of the decade, the company said on Wednesday.

The parts maker raised its 2025 revenue target by 20% from last year due to steady sales of inverters, thermal management and power supply systems expand as well as the tailwind from a weak yen, Chief Financial Officer Yasushi Matsui told investors and media during a briefing.

“As electrification centred on battery electric vehicles progresses from the 2025 business year onward, we want to reach 1.7 trillion yen by 2030 by expanding sales globally,” he said.

($1 = 150.5400 yen)

(Reporting by Daniel Leussink; Editing by Muralikumar Anantharaman)