TOKYO (AP) — Honda reported Wednesday that its profit rose 8.7% in the April-June quarter as strong sales of hybrid vehicles in Japan and the U.S., and...
TOKYO — Honda reported Wednesday that its profit rose 8.7% in the April-June quarter as strong sales of hybrid vehicles in Japan and the U.S., and motorcycles in India and Brazil, boosted the Japanese automaker’s earnings.
The positive impact of a weak yen added nearly 48 billion yen to Honda's quarterly operating profit, the company said.A weak yen works as a plus for Japanese exporters like Honda. The U.S. dollar was trading above 150 yen in the last quarter, although it recently declined to about 147 yen. Tokyo-based Honda stuck to its fiscal year forecast for 1 trillion yen in profit, down slightly from 1.1 trillion yen racked up the previous year, on 20.3 trillion yen sales, down from 20.4 trillion yen.Honda’s motorcycle sales have fallen in Thailand due to its weak economy but are booming overall, including in India and Brazil, as well as North America. It expects to sell about 2.
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