By Daniel Leussink

TOKYO (Reuters) - The world's second-largest car parts maker is not unduly worried about U.S. President Donald Trump's looming tariffs on Mexico and Canada, and may seek to manage increased costs by raising prices, a top executive at Japan's Denso said on Friday.

Yasushi Matsui, the Toyota Motor supplier's financial officer, provided insight into how some of Japan's biggest corporations aim to navigate potential higher import taxes in the U.S.

His comments also highlighted the possible impact of Trump's trade policies on global automakers and consumers by disrupting the supply chain.

Trump has set a Saturday deadline to impose 25% tariffs on imports from Mexico and Canada to pressure the two largest U.S. trading partners into taking action to prevent illegal migrants and shipments of fentanyl from crossing their borders into the U.S.

"Rather than panicking and making a fuss, we want to proceed with ... sound price transfers where possible," Matsui said at a financial results briefing.

"We want to discuss proper price transfers rather than just having the supply chain absorb everything," he added, indicating that he was hopeful about holding price negotiations with customers if tariffs were raised.

Denso reported a near sixfold jump in third-quarter operating profit on Friday. Its performance is an indicator for Toyota, due to report earnings on Wednesday, as it reflects broader trends in the global automotive supply chain.

Another Toyota supplier, car interiors maker Toyota Boshoku, is closely watching the situation, an executive said.

"We'll firmly have our antennas up since tariffs could affect customer behaviour," chief financial officer Shunichi Iwamori said at a separate results briefing, indicating a willingness to discuss passing on higher prices.

Denso and Toyota Boshoku, among other suppliers, prefer making goods near their customers, in the North American market. They say that could provide some cover from tariffs.

Denso's Matsui said the company would consider the overall impact of Trump's economic policy package and not just import taxes.

Higher tariffs on Mexico would likely weaken the country's peso currency, he said.

"A weaker peso would actually be favourable for profits," Matsui said.

"Additionally, since President Trump is expected to implement corporate tax cuts, there should be positive effects from that as well."

(Reporting by Daniel Leussink, Editing by Louise Heavens)