Honda Operating Profit Falls for 2nd Straight Year

Economy

Tokyo, May 8 (Jiji Press)--Honda Motor Co. <7267> said Wednesday that its group operating profit in fiscal 2018 fell for the second straight year, due in part to weaker emerging-economy currencies.

The Japanese automaker reported an operating profit of 726,370 million yen for the year ended in March, down 12.9 pct from the previous year, and a net profit of 610,316 million yen, down 42.4 pct.

The company still enjoyed record sales of 15,888,617 million yen, up 3.4 pct, thanks to brisk demand for automobiles and motorcycles.

Its automobile sales grew 2.4 pct to a record 5,323,000 units, led by sales of new models in Japan, the United States and China.

Its motorcycle sales expanded 3.5 pct to 20,238,000 units, exceeding the 20-million mark for the first time, reflecting solid sales of scooters in Vietnam and Indonesia.

[Copyright The Jiji Press, Ltd.]

Jiji Press