▲ Up
 
02:04 07-03-2015
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Honda net profit soars on Japanese sales

Bishkek (AKIpress) - Honda-Logo Honda Motor Co. said Friday that its net profit surged in the January to March quarter as the economic policies of Prime Minister Shinzo Abe and a last minute rush to buy cars before a sales tax took effect drove up sales in the long-stagnant Japanese market.

The maker of Fit subcompact hybrids and Vezel small sport-utility vehicles posted a Yen170.51 billion net profit in the three months ended March 31, up sharply from a Yen75.76 billion profit in the same quarter last year. Sales grew to Yen3.097 trillion from Yen2.744 trillion and its operating profit rose to Yen165.29 billion from Yen135.99 billion.

Honda was the first among Japan's big three auto makers to report its earnings results for the latest and the results bode well for rivals Toyota Motor Corp. and Nissan Motor Co., who are slated to release their results in early May, the Market Watch said Friday.

The company attributed the solid quarterly earnings to the introduction of new models and the launch of fully remodeled vehicles in China and Japan, which helped offset a decline in North American sales due to cold weather. Vehicle sales in Japan jumped 41% from a year earlier on a per unit basis in the three months before the nation" s consumption tax was raised to 8% from 5%.

Honda also cited strong motorcycle sales in Asia and the positive effects of a weakening in the yen as other factors behind the surge in its profit.

In its power products group, the company noted one positive byproduct of the cold wave that hit North America was that snowblower sales increased there.

Projecting that the company's global auto sales will rise to 3.87 million vehicles in current business year starting in April from 3.56 million vehicles, Honda said it expects that its net profit will rise by 3.6% to Yen595.00 billion as revenue grows 7.7% to Yen12.75 trillion.


Twitterfacebookprint
15:20 25.04.2014
LATEST NEWS
18:26 $76.5 mln soms of investments attracted for Osh region in 201418:00 New traffic lights get trial run on Bokonbayev – Molodaya Gvardiya intersection17:51 Review of Hillary Clinton emails to take months: official17:36 President, UNICEF Representative discuss improvement of children's situation in Kyrgyzstan17:24 Kazakh Senate ratifies Convention for Unification of Certain Rules for International Carriage by Air17:03 President of Football Federation takes part in Olympic team's training16:27 Traffic police of Bishkek arrange surprise for female drivers16:13 Palestinian vehicle attack injures five in Jerusalem: police16:05 Kazakh Senate ratifies amendments to IMF Articles of Agreement15:42 2 million 403 thousand 175 citizens deliver their biometrics as of March 515:35 Victoria Gania case: Murderer gets life imprisonment15:10 Outcry as Islamic State bulldozers 'wreck' Nimrud, Iraq14:56 Three cars collapse in Naryn; one crashes into tree14:11 Parliament of Kazakhstan approves draft state budget 2015/1713:48 Vice PM Niyazaliyeva discusses language development program in Kyrgyzstan13:31 Belokon files court to freeze nearly $17mln shares of Kyrgyzstan in Kyrgyzaltyn12:55 Nazarbayev isn't planning to participate in early presidential elections12:42 Health Minister and coordinator of Japanese scholarship program discuss young professionals’ educational opportunities12:41 Nine hurt in China station knife attack12:08 President Atambayev congratulates women on international women's day
Astana
-6° C
Ashgabat
+9° C
Bishkek
+11° C
Dushanbe
+9° C
Tashkent
+7° C
exchange rates
 
67.83
61.41
9.78
0.99
204.50
185.20
29.56
3.00
6.01
5.46
0.87
0.09
2774.81
2448.16
391.76
37.07
3.87
3.50
0.56
0.06

© AKIpress News Agency - 2001-2015. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to www.akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75