Japanese automaker Honda reports booming profit on sales growth, weak yen

TOKYO — Honda ’s profit for the fiscal year through March jumped 70% as vehicle sales grew and a weak yen buoyed overseas earnings, the Japanese automaker reported Friday.

The maker of the Accord sedan and CR Electric Proto motorcycles was less optimistic about this fiscal year, forecasting that its profit will decline nearly 10% to 1 trillion yen , as research and development spending was expected to increase to nearly 1.2 trillion yen from 964 billion yen.

Japanese automakers have scored great success with traditional fuel-powered vehicles and hybrids, which have both a gas engine and electric motor. Honda said it would make the current fiscal year a major electrification year to ensure future growth. A strategy will be outlined next week, it said.If you don't have an automotive expert in your corner who you can trust to quote you fair prices for parts and labor, it can make it tricky when it comes time to fix something on your personal mode of...These Canadian stocks could help TFSA investors generate solid tax-free capital gains and dividends.

Source: News Formal (newsformal.com)

Honda Reported Earnings

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