Honda Raises Operating Profit Forecast by 21% on Weaker Yen
- Yen has weakened about 7% since Trump elected U.S. president
- Trump has critized Japan for being a closed autos market
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Honda Motor Co. raised its forecast for full-year operating profit for a second time this fiscal year, citing the impact of favorable foreign exchange rates after the yen weakened with the election of U.S. President Donald Trump.
Operating profit will probably rise to 785 billion yen ($6.9 billion) in the fiscal year ending in March, up from 650 billion yen it forecast in October, the Tokyo-based automaker said in a statement. That compares with the 770.4 billion yen average of 19 analysts’ estimates compiled by Bloomberg.