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Japan’s Honda reports robust results after its first ever annual loss
Honda said U.S. and India sales lifted first-quarter profit to 456.9 billion yen and raised its full-year forecast to 400 billion yen.
- Tokyo-Based Honda Motor Co. reported Wednesday that April-June profit reached 456.9 billion yen , with quarterly sales rising 13.5% to 6.06 trillion yen as vehicles sold well in the U.S. and India.
- Chief Financial Officer Masao Kawaguchi attributed the healthy results partly to a favorable exchange rate, while motorcycle operations proved highly lucrative with strong sales in Brazil and India.
- While car sales grew in Japan and the U.S., Kawaguchi noted struggles in China, where Honda must better utilize resources to appeal to local buyers; abandoned electric-vehicle plans incurred heavy costs partly due to President Donald Trump's policies.
- All Japanese automakers face disruptions from the 7.1 magnitude earthquake in Kumamoto, yet Honda raised its annual profit forecast to 400 billion yen from 260 billion yen .
- Like other Japanese companies, Honda plans to take a summer break later this month, with officials hoping operations will return to normal following the recent earthquake and production disruptions.
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Honda's net profit for April-June up twofold to record high on weak yen
Honda Motor Co. said Wednesday its net profit for the April-June quarter more than doubled from a year earlier to a record 450.92 billion yen ($2.86 billion), supported by robust demand in North America and a weaker yen.
·Tokyo, Japan
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Associated Press News+6 Reposted by 6 other sources
Japan's Honda reports robust results after its first ever annual loss
Honda’s profit for the fiscal first quarter more than doubled from a year ago, as the Japanese automaker continues to tackle a turnaround from its first ever full year loss.
·New York, United States
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Honda reports robust results after its first ever annual loss
Honda’s profit for the fiscal first quarter more than doubled from a year ago, as the Japanese automaker continues to tackle a turnaround from its first ever full year loss. Tokyo-based Honda said Wednesday its April-June profit totaled 456.9 billion…
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Total News Sources19
Leaning Left5Leaning Right1Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 42%
C 50%
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