08:28 29-07-2014
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
08:30 U.S., Europe plan to issue new sanctions on Russia this week17:48 Specialized Iranian exhibition planned for Dushanbe in mid-November17:34 1 killed, 13 injured in rare southern California lightning storm17:14 Kazakhstan is giving 11.5k scholarships for engineering students16:33 Uzbekistan to receive thermographic cameras, personal protective equipment worth $6 mln from U.S.16:02 Former judge of Astana Specialized Interdistrict Economic Court sentenced to 6 years in prison15:52 International experience to identify, protect and support victims of human trafficking studied in Turkmenistan15:31 Islam condemns violence, murder and terrorism, Rahmon says15:16 Police arrest 2 over theft of 100 kg of mercury in Karaganda14:42 Militants destroy ancient Mosul mosque14:37 Uzbekistan's Karakalpakstan makes 10.3% GRP in H1 201414:26 KazAgro funds 764 agricultural projects worth 11bln in North Kazakhstan14:23 Turkmenistan considers export control, transshipment of weapons of mass destruction14:18 New Vice-Minister of Finance of Kazakhstan appointed14:06 Validity of flight permits given to airlines to be extended up to 6 months in Kazakhstan: Ministry13:44 EBRD signs its $50-mln project in Tajikistan for upgrade of Qairokkum HPP13:38 China adds East China Sea drills to military exercises13:25 Jizzakh Cement Plant exports more than half of its production abroad13:14 President of Turkmenistan pardons prisoners13:01 Man arrested in Zhambyl region for “cooking” nearly 1 ton of marijuana
Astana
+17° C
Ashgabat
+34° C
Bishkek
+26° C
Dushanbe
+29° C
Tashkent
+30° C
exchange rates
 
69.65
51.80
8.37
1.48
246.72
183.52
29.64
5.23
6.64
4.96
0.80
0.14
3172.31
2328.16
375.17
66.21
3.83
2.85
0.46
0.08

© AKIpress News Agency - 2001-2014
Use of the AKIpress.com materials 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