Honda Profit To Increase
TOKYO – Honda Motor Co.
Reported a 13 decline in full-year operating profit on foreign exchange losses, rising incentives and one-time costs to restructure its European business.
Operating profit declined to 726.3 billion yen ($6.55 billion) in the fiscal year ended March 31, the Japanese carmaker said Wednesday.
Net income tumbled 42 percent to 610.3 billion yen ($5.51 billion) in the 12-month period.
Revenue advanced 3.4 percent to 15.36 trillion yen ($138.6 billion), as worldwide sales increased 2.5 percent to 5.3 million vehicles during the fiscal year.