"Denso has almost halved its production on account of the COVID-19 impact. Till April, production was largely down with stoppages at plants in North America, Europe, and Asia, as automakers started suspending production operations around the world since mid-March. A leading supplier to Toyota, Denso has posted an 81% drop in its operating profit for the year ended March, at 61 billion Yen ($571.8 million), its lowest since a decade ago. Nose-diving profits at Denso and other automotive suppliers are the direct results of subdued demand for cars with most countries mandating lockdowns, working from home, and the uncertainty of an economic recession. Global vehicle sales by Japanese automakers dropped 34% in March. The industry is truly facing an unprecedented crisis” – Vinay Piparsania