Honda Motor Quarterly Profit Falls on Slump in Japan Demand
- Automaker maintains 525 billion yen full-year profit forecast
- Honda sees U.S. sales at 1.6 million units this year
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Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Honda Motor Co. reported quarterly profit that missed analysts’ estimates on quality-related expenses and slumping demand in Japan.
Net income rose 6.9 percent to 127.8 billion yen ($1.06 billion) in the quarter through September from a restated 119.5 billion yen a year earlier, Honda said Wednesday. The result compares with the 129.5 billion yen average of eight analysts’ estimates compiled by Bloomberg. The automaker maintained its full-year profit forecast at 525 billion yen.