Honda Motor Co. on Friday forecast a 10.3% drop in net profit to ¥590 billion ($5.4 billion) in the current business year through next March amid uncertain
Honda returns to quarterly profit despite pandemic damage
by Yuri Kageyama, The Associated Press
Posted May 14, 2021 5:41 am EDT
Last Updated May 14, 2021 at 5:44 am EDT
TOKYO (AP) Honda swung into the black in January-March, recording a 213 billion yen ($2 billion) profit despite the lingering impact of the pandemic.
The results, released Friday, marked a reversal from 29.5 billion yen in red ink Honda Motor Co. racked up in the same quarter last year. Quarterly sales rose nearly 5% to 3.6 trillion yen ($33 billion).
Tokyo-based Honda’s profit for the fiscal year that ended in March totaled 657.4 billion yen ($6 billion), up 44% from the previous fiscal year.
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