Honda Raises Full-Year Profit Outlook Despite Auto Chip Shortage
- Japanese carmaker now sees operating profit of 520 billion yen
- Profit for third quarter jumped 67% on better cost controls
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Honda Motor Co. boosted its operating profit outlook for the current fiscal year, a sign sales are tracking well despite the global chip shortage that’s disrupting the auto industry’s supply chain.
The Japanese automaker is targeting an operating profit of 520 billion yen ($5 billion) for the 12 months through March, compared with a prior forecast for 420 billion yen, it said in an exchange filing Tuesday. That compares with analysts’ average projection for 469 billion yen, according to data compiled by Bloomberg.